Getlink : H1 strongly affected by the crisis but 2020 guidance higher than expected
>H1 EBITDA falls short of our expectations - After Q1 revenues down 8.4%, Getlink reported a 49% drop in Q2 revenues (ODDO BHF: 1e46%e), undermined by strong falls in traffic: -80% for passenger shuttles, -25% for trucks (already reported) and -98% for Eurostar.First-half revenues therefore came to € 369m, down 29% and slightly below our estimate of € 379m est. (i.e. -27%)As expected, EBITDA was also down, by 52% to € 123m (vs ODDO BHF € 136m est.). In H1, th...Getlink SE, formerly known as Groupe Eurotunnel SE, is a France-based company, which brings together a group of companies active in the fields of infrastructure management and transport operations. Its various entities share the attention to quality and customer service, with priority given to safety. The Company manages and operates the Channel Tunnel between the United Kingdom and France and its railway infrastructure. The Company is also engaged in the passenger and freight transport between continental Europe and the United Kingdom. In addition, it provides ferry transport through the Channel. Getlink SE has direct and indirect stakes in a number of companies, including The Channel Tunnel Group Limited, France Manche SA and Europorte SAS, among others.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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