Getlink Reports Stable Revenue in 2025 and Expects to Surpass EBITDA Target
Transport infrastructure group Getlink recorded a revenue of 1.595 billion euros in 2025, a 1% decrease at constant exchange rates, according to the statement released this Thursday. This near-stability masks contrasting developments between the group's historic activities and its subsidiary Eleclink.
Eurotunnel Revenue Growth
According to the group, Eurotunnel's revenue increased by 4% to 1.198 billion euros over the year. This rise is mainly due to the growth in the Railway Network business, with revenues up by 4% to 411 million euros, driven by a 5% increase in Eurostar traffic. The reopening of the Amsterdam Centraal international terminal and sustained demand on the historic London-Paris and London-Brussels routes contributed to this momentum. The Shuttle activity saw a more moderate increase of 2% to 738 million euros, despite a 2% rise in passenger traffic. The group has gained market share in car transport across the Strait, reaching 56.1% in 2025 compared to 55.2% in 2024. However, truck volumes declined by 3%, affected by a less favorable economic environment in the UK and intense competition on the cross-channel route. The subsidiary Europorte recorded a 2% increase in its revenue to 172 million euros.
Eleclink Revenue Decline
Eleclink's revenue stood at 225 million euros in 2025, down 20% from the previous year. According to the statement, this contraction reflects the expected normalization of electricity markets after the exceptional levels of 2024. The activity was also impacted by two operational suspensions, from September 25, 2024, to February 5, 2025, and from May 19 to June 2, 2025. The group announced in December 2025 an agreement with its insurance companies for a total compensation of 55 million euros for the 2024 operational losses. This amount will be recorded in the Other Income category of the 2025 consolidated accounts. The interconnection displayed an availability rate of about 94% in the fourth quarter of 2025. As of December 31, 2025, Eleclink had secured 237 million euros in revenue for 2026, representing 79% of its capacity, and nearly 100 million euros for 2027, accounting for 20% of the capacity.
Confidence in Surpassing EBITDA Target
Getlink expresses confidence in its ability to exceed the EBITDA target announced in March 2025, given the agreement reached with insurers regarding Eleclink's compensation. The initial target was set based on an unchanged consolidation scope and an exchange rate of 1 British pound to 1.184 euros, under a constant fiscal and regulatory environment. This target conservatively included a first tranche of insurance compensation of 15 million euros, before considering the profit-sharing provision. The final agreement ultimately involves 55 million euros in compensation. The group will present its 2025 annual results on February 26, 2026, during an Investor Day to be held in Paris starting at 2 PM. CEO Yann Leriche highlighted in the statement that the group confirmed the strength of its model in 2025 with the growth of its historic businesses Eurotunnel and Europorte.
