Profits rise at Channel Tunnel operator

Channel Tunnel operator Getlink increased sales by four per cent last year to €1 billion while EBITDA was up six per cent at €526 million.

Revenue from Shuttle Services increased by three per cent compared to 2016. The Truck Shuttle service consolidated its traffic position through the year in 2017 carrying 1.64 million trucks – a market share of 39.1 per cent.

Jacques Gounon, chairman and chief executive officer, said: “The Group has seen its eighth consecutive year of growth and has had another excellent year from both operational and financial perspectives. The outlook for the years to come is equally positive notably for cash generation, enabling the Group to commit to a dividend increase of €0.05 per year for the next few years”.

The refinancing of the Group’s floating rate debt reduced interest payments by €60 million per year and reduced average cost of debt to below 4 per cent from the second half year of 2017.