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Getlink SE FY18 Profit Rises, Lifts Dividend; Issues Outlook - Quick Facts

French railway company Getlink SE (GRPTY), formerly Groupe Eurotunnel SE, reported Thursday that its fiscal 2018 consolidated net profit grew 16 percent to 130 million euros from 112 million euros in 2017.

Consolidated revenue for the 2018 financial year amounted to 1.079 billion euros, an increase of 5% from last year.

EBITDA increased 9 percent from last year to 569 million euros. After taking into account the impact of IFRS 16 on depreciation charges which offset the improvement in EBITDA, the trading profit increased 6 percent to 395 million euros.

Further, the company confirmed its intention to accelerate the dividend policy for its shareholders. It will therefore propose at its AGM to increase the dividend to 0.36 euro per share for the 2018 financial year, an increase of 20% compared to 2017.

Regarding outlook, the company said the current political situation, particularly in the United Kingdom, is likely to generate uncertainty about the short-term impact of the exit of the United Kingdom from the European Union on 29 March 2019. The Group considers that this uncertainty is likely to affect its activity in the first weeks following this date.

Depending on the border controls implemented by both States after March 29, the company has set a fiscal 2019 financial objective of an EBITDA of 560 million euros in the case of a "no deal" or 575 million euros, if an agreement is reached.

Nevertheless, and despite this short-term uncertainty, the company remains very confident in the solidity of its various businesses and their medium-term growth potential. The company still expects to exceed 735 million euros in EBITDA by 2022.

For 2022, the company confirmed outlook for dividend increase of 5 cents per year.

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