Getlink (GET) H1 2026 earnings summary

Executive summary

• Revenue grew 13% year-over-year to €824 million in H1 2026, driven by Eleclink's 71% growth and solid performances from Eurotunnel (+3%) and Europorte (+12%).

• EBITDA increased 12% to €404 million, with Eleclink's EBITDA up 79%, Europorte up 6%, and strong contributions from Eurotunnel.

• Net profit reached €118 million, up 7% year-over-year.

• Free cash flow improved to €295 million (+€77 million), and cash position stood at €1,361 million as of 30 June 2026.

• Dividend of €0.80 per share distributed for 2025, totaling €434 million.

Financial highlights

• Operating profit (EBIT) rose 12% to €281 million.

• Net financial costs increased 4% to €150 million.

• Taxes represented a net charge of €13 million, compared to a €2 million income in H1 2025.

• Capital expenditure was €81 million, up from €65 million in H1 2025.

• Net debt increased to €3,536 million (+€144 million vs Dec 2025).

Outlook and guidance

• 2026 EBITDA guidance upgraded to €835–870 million, reflecting strong H1 performance and secured Eleclink revenues.

• Eleclink has sold 98% of 2026 capacity, securing €305 million in revenue, with favorable UK–FR electricity spreads.

• Guidance assumes stable fiscal/regulatory environment and limited EES-related disruptions.

• Ongoing adaptation to EES border control rollout, with operational fluidity prioritized.

• Group continues to focus on operational productivity, customer service, and green leadership.