PARIS (dpa-AFX) - Getlink SE (GRPTY), on Thursday, reported Q1 revenue of EUR 391 million, 23% lower than the same period in 2023.
Eurotunnel revenue was stable at EUR 244 million, while Europorte revenue was up 14% at EUR 40 million. ElecLink revenue declined 54% at EUR 107 million in the context of the normalisation of the electricity market.
Yann Leriche, the Group's Chief Executive Officer, said, 'As anticipated, the first quarter of 2024 was marked by the normalisation of ElecLink's contribution and increased competition from the ferries. Against this backdrop, the Group has strengthened its operational performance in the service of its customers, enabling Eurotunnel's revenues to show solid resilience and Europorte to grow. We will continue to pursue our customer-focused and cost-containment strategy, the effects of which should be reinforced by the application of the law to combat social dumping on cross-Channel routes in July 2024'.
Getlink confirmed that it expects EBITDA in 2024 to be between EUR 780 and EUR 830 million in 2023.
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