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REVENUE: THIRD QUARTER

Third-quarter revenue (1 July to 30 September)

A. Group

The Group's consolidated revenue for the third quarter were overall stable at €475 million (-0.4% vs Q3 2023), at a constant exchange rate.

B. Eurotunnel

At €359 million, Eurotunnel's revenue was up 5% compared to the third quarter of 2023, representing a record quarter.

Shuttle revenue totalled €237 million, up 1% in the third quarter compared with the same period last year.

Railway Network revenue was up 10% at €111 million.

C. Europorte

Revenue growth of 5% to €40 million.

D. ElecLink

In the third quarter, ElecLink reported revenue of €76 million, down 21%, impacted by the expected normalisation of electricity markets and to a lesser extent by the suspension of activity since 25 September.

GUIDANCE

The Group confirms its EBITDA target for 2024 of between €780 and €830 million⁶.

This target takes into account:

• The revenue already secured for ElecLink, integrating the suspension of activity between 25 September and 16 November, recent electricity market prices and using a similar method to that used for 2023 with regard to the provision for profit sharing.

• Uncertainty over the date of implementation of EES formalities, following the postponement announced by the European Union on 10 October.

NINE-MONTH REVENUE (1 January to 30 September)

For the first nine months of the year, Group revenue reached €1,283 million, down 9% compared to 2023.

• Eurotunnel's revenue rose by 2% to €899 million.

• Europorte's revenue rose by 11% to €123 million.

• ElecLink's revenue fell by 39% to €261 million.

EUROTUNNEL TRAFFIC

Third-quarter traffic (1 July to 30 September)

Nine-month traffic (1 January to 30 September)

A. Eurotunnel Shuttles

• Passenger Shuttle activity: In the first 9 months of 2024, traffic fell by 2%, with almost 1.75 million passenger vehicles transported, particularly impacted by fierce competition from ferry operators, some of which are deviating from the social models applicable in the United Kingdom and France.

• Truck Shuttle activity: Truck Shuttle freight traffic was down 2% for the January-September period compared to 2023, penalised by the strong competition and an economic environment that remains difficult in the United Kingdom.

B. Railway network

• High-speed passenger trains: In the first nine months of the year, Eurostar recorded growth of 3% compared to 2023, with close to 8.4 million passengers crossing the Channel.

• Cross-Channel rail freight trains: Cross-Channel rail freight traffic fell by 12% in the first nine months of 2024 compared with the same period in 2023.

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Disclaimer: All forward-looking statements in this report are Getlink SE management’s present expectations of future events and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. For a detailed description of these factors and uncertainties, please refer to the section "Risk Factors" in our Universal Registration Document and documents filed by the Group with the French securities regulator (AMF) (available on the Group’s website https://www.getlinkgroup.com). Getlink SE undertakes no obligation to publicly update or revise any of these forward-looking statements.

About Getlink

Getlink SE (Euronext Paris: GET), through its subsidiary Eurotunnel, is the concession holder until 2086 for the Channel Tunnel infrastructure and operates Truck Shuttles and Passenger Shuttles (cars and coaches) between Folkestone (UK) and Calais (France). Since 31 December 2020 Eurotunnel has been developing the smart border to ensure that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since it opened in 1994, close to 500 million people and more than 102 million vehicles have travelled through the Channel Tunnel. This unique land link, which carries a quarter of trade between the Continent and the United Kingdom, has become a vital link, reinforced by the ElecLink electricity interconnector installed in the Tunnel, which helps to balance energy needs between France and the United Kingdom. Getlink completes its sustainable mobility services with its rail freight subsidiary Europorte. Committed to "low-carbon" services that control their impact on the environment (through its activities, the Group avoids the equivalent of 1.9 million tonnes of CO2 per year), Getlink has made the place of people, nature and territories a central concern.

https://www.getlinkgroup.com

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¹ All comparisons with revenue for the first nine months of 2023 are made at the average exchange rate for the first nine months of 2024 of £1 = €1.180.
² Target set based on the current scope of consolidation and an exchange rate of £1 = €1.15, assuming a constant regulatory and fiscal environment.
³ Calculated using a similar methodology to 2024.
⁴ Estimated commercial impact, composed of the contracted revenues for the period from 25 September to 15 November 2024 that will not be delivered representing €36 million, the short-term capacity auctions revenues that could have, based on current market spreads, generated €2 million and the costs and penalty risks (in particular related to capacity markets rules) related to the suspension of the activity for €8 million. These elements do not take into account the profit-sharing mechanism provision.
⁵ Subject to effective delivery of the service.
⁶ Target set based on the current scope of consolidation and an exchange rate of £1 = €1.15, assuming a constant regulatory and fiscal environment.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241016249172/en/

Contacts

Press contacts:
Anne-Sophie de Faucigny: +33 (0)6.46.01.52.86
Laurence Bault: +33 (0)6.83.61.89.96

Analyst and investor contacts:
Virginie Rousseau: +33 (0)6.77.41.03.39