Getlink: Revenue up in third quarter, driven by growth in passenger traffic and ElecLink go-live
Third quarter 2022
- Revenue for the third quarter of 2022 totalled €466.1 million, up 109% compared to the same period in 2021.
- Eurotunnel: Revenue up 71% to €325.8 million, driven by the growth in Passenger Shuttle and Eurostar traffic.
- Europorte: Solid operational performance, with revenue up 2% to €32.9 million.
- ElecLink: Continued successful development, with revenue of €107.4 million.
Yann Leriche, Group Chief Executive Officer commented: "In the third quarter, the Group has stepped up its efforts to consolidate the momentum of the first half of 2022. The growth in passenger traffic, our marketing investments and ElecLink entering its operational phase allow us to establish a higher level of revenue compared to 2021 and confirm the attractiveness of our low-carbon solutions for customers.”
► Third quarter of 2022: key events
- Environment Plan
- Publication of the Group's Energy Efficiency Plan, setting a target of a 9% reduction in auxiliary electricity consumption by 2024 and supporting the overall trajectory of the 2025 environment plan with a 30% reduction in CO2 emissions.
- EcoWatt charter signed with RTE, alongside nearly 100 major French companies, making Getlink part of a collective drive to save energy.
- Appointment of Anne-Sophie de Faucigny as Group Chief Communications Officer and member of the Executive Committee.
- Le Shuttle
- Strong growth in the number of passenger vehicles over the first nine months with 1,661,019 vehicles transported.
- Confirmation as market leader on the Short Straits, with a car market share of 56.1% in the third quarter of 2022.
- Achievement of the best monthly performance for 3 years, with more than 314,000 passenger vehicles transported in August 2022.
- Le Shuttle Freight
- More than 1.1 million trucks crossed the English Channel on board Shuttles in the first nine months of the year, an increase of 12% compared to the same period in 2021.
- Confirmation market leader on the Short Straits with a market share of 40.7% in the third quarter of 2022.
- Ramp-up of the unaccompanied freight service with more than 2,600 trailers transported in the first nine months of the year.
- Good momentum in Eurostar traffic, in particular the continued growth of the direct London-Amsterdam service.
- Continued development of Oleo100 traffic with the installation of a storage tank in Strasbourg.
- Strong operational performance with 2.3 TWh transmitted and an availability rate of over 88%.
► REVENUE: THIRD QUARTER
Revenue for the third quarter (1 July to 30 September)
The Group's consolidated revenue in the third quarter increased by 109% at a constant exchange rate, to €466.1 million. Having started its commercial operations on 25 May 2022, ElecLink contributed €107.4 million in revenue to the Group during its first full quarter of activity.
At €325.8 million, Eurotunnel revenue was up 71% compared to the third quarter of 2021.
Revenue from the Shuttle activity reached €235.1 million, up 58% in the third quarter compared to the same period in 2021, driven by growth in Passenger volumes and targeted marketing actions.
Railway Network revenue was up 116% at €84.3 million, driven by the recovery in Eurostar traffic.
C. Rail freight operators: Europorte and its subsidiaries
Europorte increased its revenue to €32.9 million.
Revenue for the first nine months (1 January to 30 September)
For the first nine months of the year, Group revenue reached a level of €1.043 billion, up 89% compared to 2021, driven by additional revenue from ElecLink and the return of passenger traffic volumes.
- Eurotunnel revenue increased by 77% to €801 million.
- Europorte revenue increased by 3% to €100.5 million.
► EUROTUNNEL TRAFFIC
Third quarter traffic (1 July to 30 September)
First nine months traffic (1 January to 30 September)
A. Eurotunnel Shuttles
- Passenger Shuttles: In a dynamic market, Eurotunnel confirms its status as leader on the Short Straits with a car market share of 56.1% in the third quarter and increased traffic, with nearly 1.7 million passenger vehicles transported in the first nine months of the year.
- Truck Shuttles: Truck traffic on Le Shuttle Freight grew by 12% over the January-September period compared to 2021, despite an intensely competitive environment. Eurotunnel confirms its position as the leading cross-Channel player with a truck market share of 40.7% in the third quarter, up 2.3 points compared to the same period in 2021, thus outperforming the market.
B. Railway Network
- High-speed trains: Eurostar recorded very strong traffic growth in the third quarter with nearly 2.6 million passengers. In the first nine months of the year, nearly 5.9 million passengers crossed the Channel on high-speed trains.
- Cross-Channel rail freight: Cross-Channel rail freight saw traffic down 11% in the first nine months of 2022 compared to the same period in 2021, impacted by strikes in the United Kingdom.
1 All comparisons with revenue for the first nine months of 2021 are at the average exchange rate for the first nine months of 2022: £1=€1.173.