PARIS (dpa-AFX) - French railroads business Getlink SE (GRPTY) reported Thursday that its fiscal 2024 profit declined from last year with weak revenues.
Further, the company proposed payment of a dividend of 0.58 euro per share, up 5.5 percent on 2024, subject to approval by the Annual General Meeting on May 14. The dividend would be payable on June 6.
Looking ahead, for fiscal 2025, Getlink projects consolidated EBITDA of between 780 million euros and 830 million euros, lower than the previous year. The outlook reflects economic uncertainty in Europe and the United Kingdom, and the intense competition from ferry operators.
The company further projects continued modernisation of assets and innovation, with a gradual increase in capital expenditure to 170 million euros to 220 million euros over the next 5-7 years. In 2025, capital expenditure should be at the lower end of the range.
In fiscal 2024, consolidated net profit was 317 million euros, down 5 percent from last year's restated profit of 332 million euros.
Consolidated EBITDA of 833 million euros fell 16 percent from 990 million euros last year, due to the lower contribution from ElecLink. Eurotunnel's EBITDA increased by 8 percent and Europorte's by 10 percent.
The Group's operating expenses fell 9 percent, mainly due to the change in the ElecLink profit-sharing provision reflecting its lower revenues.
Consolidated revenue for 2024 was 1.61 billion euros, down 12 percent from prior year's 1.84 billion euros, due to the expected normalisation of electricity markets and the suspension of ElecLink's contribution in the last quarter.
Revenues were 3 percent higher for Eurotunnel and 12 percent higher for Europorte.
Separately, the company announced shuttle traffic for the month of February. LeShuttle Freight carried 95,479 trucks in the month, down 3 percent from last year, which was a leap year.
LeShuttle carried 121,903 passenger vehicles in February, up 6 percent year-over-year.
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