Getlink Q1 Revenue Down 33%

Getlink S.E. (GRPTY), formerly Groupe Eurotunnel, Thursday reported a decline in its revenue for the first quarter, reflecting continuing travel restrictions as well as the adaptation to new post-Brexit border administration rules.

The Group's consolidated revenue was down 33 percent, at a constant exchange rate, to 154.4 million euros. The company attributed the decline to the impact of the Covid-19 pandemic and the continuing travel restrictions imposed by the governments of the UK and continental Europe and the adaptation of the freight market to the new post-Brexit customs formalities.

During the quarter, Eurotunnel revenue slid by 39 percent, with downslide of 34 percent in shuttle services, 51 percent in railway network and 3 percent in other revenues. However, Europorte revenue was up 4 percent.

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