Getlink (GET) Q3 2025 TU earnings summary

Executive summary

• Group revenue for Q3 2025 reached €472 million, up 1% year-over-year, driven by Eurotunnel and Europorte growth despite a normalization in Eleclink's contribution.

• Eurotunnel achieved record revenue, supported by strong Shuttle activity and high-speed passenger train growth.

• Preparations for the new EU Entry/Exit System (EES) border controls were completed, with digital and AI integration to enhance customer experience.

Financial highlights

• Q3 2025 group revenue: €472 million (+1% year-over-year at constant exchange rates).

• Eurotunnel revenue: €364 million (+3%), Shuttle Services: €242 million (+4%), Railway Network: €108 million (stable).

• Europorte revenue: €42 million (+5%).

• Eleclink revenue: €66 million (-13%), reflecting electricity market normalization.

• For the first nine months, group revenue was €1,211 million, down 5% year-over-year due to Eleclink.

Outlook and guidance

• EBITDA target for 2025 confirmed at €780–830 million, based on current scope and exchange rates.

• Guidance reflects reasonable Eurotunnel growth, EES implementation, and Eleclink's secured revenue for 2025.