Getlink, the company managing the Channel Tunnel between France and England saw a 14.5 decrease in EBITDA for the first half of 2024 compared to the same period last year. Moreover, the number of freight trains crossing the tunnel in this period decreased by 9 per cent, from 733 to 670.
The Getlink Group is made up of three main entities: Eurotunnel, Europorte and ElecLink. Eurotunnel handles the shuttle services, for freight and passengers across the Channel Tunnel, while Europorte takes care of rail freight operations through the Tunnel and in France. ElecLink is high-voltage electrical interconnector passing through the Channel Tunnel.
Europorte shows some growth
The EBITDA for the whole group fell from 496 million euros in the first half of 2023 to the current 424 million. Concerning Europorte, however, the EBITDA slightly increased, from 13 to 16 million euros. This growth for the group’s rail freight arm was “driven by continued growth in traction activities (…) and infrastructure activities, with the start-up of new contracts”, Getlink specified.
However, it needs to be mentioned that Europorte is the smallest entity of the group. Thus, the trends from Eurotunnel and ElecLink might have a more significant impact on Getlink’s finances. Eurotunnel recorded a 3 per cent increase in EBITDA, from 280 to 291 million euros. ElecLink, on the other hand, posted a significant decrease, with the EBITDA dropping by more than 43 per cent, from 207 to 117 million euros.