Getlink (GET) Q1 2026 TU earnings summary

Executive summary

• Consolidated revenue for Q1 2026 reached €371 million, up 15% year-over-year, reflecting strong momentum across all business segments.

• Growth was driven by robust railway network traffic, Eleclink's full-capacity operations, and resilient commercial strategies.

• Diversification across activities provided resilience amid high and volatile energy prices.

Financial highlights

• Group revenue increased 15% to €371 million compared to Q1 2025 at constant exchange rates.

• Eurotunnel revenue rose 4% to €258 million, with Shuttle Services up 4% and Railway Network up 3%.

• Eleclink revenue surged 112% to €70 million, benefiting from favorable electricity markets and a low base due to prior suspension.

• Europorte revenue grew 5% to €43 million.

Outlook and guidance

• 2026 target for consolidated current EBITDA is reaffirmed at €820–860 million, assuming stable fiscal and regulatory conditions.

• Eleclink has already secured €291 million in 2026 revenue (89% of annual capacity) and €141 million for 2027 (36% of capacity), subject to service delivery.