Getlink: 2021 Revenue Reflects the Impact of the Covid-19 Crisis on Passenger Travel, Whilst Freight Has Partly Escaped This
01/20/2022 - 01:30 AM
PARIS --(BUSINESS WIRE)--
Regulatory News :
Getlink (Paris:GET):
2021 revenue amounted €774.4 million , down 6% at a constant exchange rate compared to 20201 .
► Eurotunnel :
Shuttle revenue down 10% to €476.6 million
Eurostar: a year severely disrupted by the Covid-19 crisis; traffic down 35% for the year as a whole
► Europorte: revenue up (+6% ) to €130.2 million
► ElecLink : works in Tunnel completed and first tests successfully carried out
Yann Leriche , Group CEO, said: “2021 was a year of contrasts. The Group’s consolidated revenue has obviously been impacted by the effects of the crisis and the travel restrictions which persisted throughout the year. However, our passenger market share has never been so high, and the appetite of customers to use our services has been proven each time border crossing restrictions have been eased. Our strengthening of Europorte’s performance and the achievement of ElecLink project milestones are further positive elements. By improving our agility and adapting our work organisation, the Group has been able to maintain its status as a leader across its markets.”
► Fourth quarter 2021: key events
► Group
Successful placement of additional ‘green’ bond issue for a total of €150 million , which supplements the senior guaranteed green bonds maturing in 2025.
Getlink, one of the top ranked most responsible companies in the French transport sector, rewarded for its Environmental, Social and Governance performance by the Le Point Statista ranking.
► Eurotunnel
Le Shuttle Freight:
Nearly 1.4 million trucks crossed the Channel with Le Shuttle Freight in 2021, confirming market leader status with 39.1% of the market.
Launch of truck maintenance service in the Le Truck Village parking in France .
In 2021, Eurotunnel Le Shuttle outperformed the market with more than 960,000 tourist vehicles transported, and a car market share at an all-time high of 74.0% (+4 points).
More than 20,700 cars transported between Friday 17 December and Sunday 19 December, the busiest departure weekend since the start of the year.
A solid performance in the fourth quarter, with revenues up 16% in comparison to 2020.
► Europorte
Increase in Europorte’s annual revenue (+6% ) to €130.2 million .
First French rail freight company to obtain the ERA Single Safety Certificate, valid in several countries.
Carrying out of traction tests of the new Euro 600 0 locomotive on the French rail network, with a view to gaining certification.
Certified EcoVadis Gold for the third consecutive year, Europorte is awarded for its daily commitment to Corporate Social Responsibility (CSR).
► ElecLink
Successful electromagnetic compatibility tests in the Tunnel.
Awaiting final approval from the IGC for entry into service, expected for mid-2022.
►REVENUE: FULL YEAR
€ million
2021
unaudited
2020
recalculated*
Change
2020
published **
Exchange rate: £1
€1.16 7
€1.16 7
€1.12 6
Shuttle services
476.6
529.9
-10%
521.4
Railway network
155.5
165.9
-6%
163.3
Other
12.1
8.6
41%
8.5
Sub-total Eurotunnel
644,2
704.4
-9%
693.2
Europorte
130.2
122.7
6%
122.7
Total revenue
774.4
827.1
-6%
815.9
►REVENUE: FOURTH QUARTER
€ million
4th quarter
2021
unaudited
4th quarter
2020
recalculated
Change
4th quarter
2020
published**
Shuttle services
138.9
131.4
6%
128.1
Railway network
50.3
32.8
53%
31.8
Other
3.7
2.1
76%
2.0
Sub-total Eurotunnel
192.9
166.3
16%
161.9
Europorte
32.2
32.4
-1%
32.4
Revenues
225.1
198.7
13%
194.3
* Recalculated at the average exchange rate for 2021: £1 = €1.16 7
** At the average exchange rate for 2020: £1 = €1.12 6
A. Group
The Group’s consolidated revenues amount to €774.4 million in 2021.
B. Eurotunnel
At €644.2 million in 2021, Eurotunnel’s revenues decreased by 9% at a constant exchange rate.
Revenue from Shuttle services decreased by 10% to €476.6 million compared to 2020, in a context of reduced traffic due to the Covid-19 crisis and travel restriction policies.
Revenue from the railway network decreased by 6% to €155.5 million as a result of the sharp reduction in train journeys due to health protection measures taken by the British and European governments.
C. Europorte
Europorte’s revenue was up 6% in 2021 driven by the launch of new national traffic and international services.
EUROTUNNEL TRAFFIC: FULL YEAR
2021
2020
Change
Truck Shuttles
Trucks
1,361,529
1,451,556
-6%
Passenger Shuttles
Passenger Vehicles1
960,205
1,413,433
-32%
High speed trains2
Eurostar passengers
1,637,687
2,503,419
-35%
Rail freight trains3
Trains
1,654
1,736
-5%
EUROTUNNEL TRAFFIC: FOURTH QUARTER
Q4 2021
Q4 2020
Change
Truck Shuttles
Trucks
375,982
420,017
-10%
Passenger Shuttles
Passenger Vehicles1
328,190
230,119
43%
High speed trains2
Eurostar passengers
992,774
170,010
484%
Rail freight trains3
Number of trains
375
468
-20%
1 Includes cars, motorcycles, vehicles with trailers, caravans, camper vans and coaches.
2 Only passengers travelling through the Channel Tunnel are included in this table (excluding those who travel between Brussels -Calais, Brussels -Lille , Brussels -Amsterdam , etc)
3 Rail freight services by train operators (DB Cargo on behalf of BRB, SNCF and its subsidiaries, GB Railfreight , Rail Operations Group , RailAdventure and Europorte) using the Tunnel.
The advantages of the Tunnel, namely its health safety, reliability, speed, frequency and environmentally friendly status are still widely appreciated by our customers.
A. Shuttle Services
Truck Shuttles : Le Shuttle Freight carried nearly 1.4 million trucks in 2021, confirming its place as market leader, with market share of 39.1% for the year.
Passenger Shuttles : Passenger traffic saw a 32% decline, being strongly affected by the Covid crisis and travel restrictions between the UK and continental Europe . However, traffic remains higher than it competitors thanks to the advantages of travelling by Le Shuttle, notably in terms of Covid security. In 2021, more than 960,000 passenger vehicles crossed the Channel with Le Shuttle. With a 74.0% share of the car market in 2021, up 4 points, Le Shuttle has significantly outperformed the market and confirms its status as market leader on the Short Straits.
B. Railway network
High-speed passenger trains: Eurostar saw a 35% decline in traffic over the year as a whole, due to travel restrictions between the UK and continental Europe . However, a reversal of this trend was seen during the fourth quarter with the temporary easing of restrictions, during which Eurostar transported more than 990,000 passengers (representing more than 60% of its traffic for the year).
Cross-Channel rail freight is down 5% in 2021.
The Group’s annual results will be published on Thursday 24 February before markets open.
_____________________
1 All comparisons with 2020 are made using the average 2021 exchange rate of £1 =€1.16 7.
View source version on businesswire.com : https://www.businesswire.com/news/home/20220119005993/en/
For UK media enquiries contact
John Keefe on + 44 (0) 1303 284491
Email: press@getlinkgroup.com
For other media enquiries contact
Romain Dufour on +33(0)1 4098 0464
For investor enquiries contact :
Jean-Baptiste Roussille on +33 (0)1 40 98 04 81
Email: jean-baptiste.roussille@getlinkgroup.com
Michael Schuller on +44 (0) 1303 288749
Email: Michael.schuller@getlinkgroup.com
Source: Getlink S.E .