French railroads business Getlink SE (GRPTY) reported Thursday that its first-half consolidated net profit reached 173 million euros, up 7 percent from last year.
Consolidated EBITDA amounted to 424 million euros, down 15 percent from last year, mainly due to 43 percent drop in contribution from ElecLink.
Consolidated revenue for the first half of fell 14 percent to 808 million euros from prior year's restated 940 million euros, reflecting the expected normalisation of the electricity markets.
In the second quarter, revenues dropped 3 percent to 417 million euros from last year's 430 million euros.
Further, the company confirmed its fiscal 2024 EBITDA target between 780 million euros and 830 million euros.
Yann Leriche, Getlink's Chief Executive Officer, said, "The half-year performance reflects the normalisation of the energy markets and consequently ElecLink's contribution to the Group's results. Thanks to the continuation of its operational and commercial excellence programmes as well as the good momentum of passenger traffic, Getlink reports solid results, enabling us to confirm our targets for 2024."
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