Getlink: Revenue of €521 million in third quarter, up 10%, driven by Eleclink
Getlink published consolidated revenue of €521 million for the third quarter on October 22, 2026, up 10% at constant exchange rates, and confirmed its 2026 EBITDA target of between €835 and €870 million. This amount exceeds the €510 million average expected by the two analysts in the consensus for the quarter. The group's three business segments progressed at different rates: +41% for electrical interconnection Eleclink, +7% for rail freight Europorte, and +4% for Eurotunnel. At the latter, the increase in shuttle revenues was accompanied by a 2% decline in the number of passenger vehicles transported, while LeShuttle's market share increased.
Eurotunnel: shuttle revenues up 5%, car traffic down 2%
Eurotunnel's revenue stood at €383 million in the third quarter, up 4%. The shuttles (LeShuttle and LeShuttle Freight) generated €254 million, representing a 5% increase year-on-year. LeShuttle transported 782,846 passenger vehicles, traffic down 2% which the group attributes mainly to temporary external factors, such as uncertainties surrounding the deployment of the EES. Its market share increased from 50.8% to 52.4%. On the freight side, the number of trucks transported increased by 5%, to 296,079, despite a still subdued British economic environment according to the group, and market share gained 260 basis points, to 37.4%. Over nine months, the increase in truck traffic is limited to 1%, compared to 5% in the third quarter alone. Monthly figures published on October 8, 2026 already showed an 8% increase in truck traffic in September. The rail network generated €112 million (+2%), with Eurostar traffic up 2%, at 3,253,954 passengers, driven in particular by the London-Amsterdam link despite disruptions related to the heat wave at the beginning of the period. The number of freight trains declined by 11%, to 243. Other revenues reached €17 million (+21%), thanks to customs services Getlink Customs Services and retail trade activity.
Eleclink up 41% with 100% availability, Europorte up 7%
Eleclink achieved revenue of €93 million in the third quarter, compared to €66 million a year earlier, a 41% increase attributed by the group to opportunities in electricity markets. The interconnector posted a 100% availability rate over the period. Over nine months, its revenue reached €250 million, up 58%. At September 30, Eleclink had secured €311 million in revenue for 2026, or 98% of its annual capacity, subject to effective service delivery and taking into account the scheduled maintenance shutdown from October 11 to 24, 2026 (compared to an interruption from October 10 to 16 in 2025). For 2027, €306 million in revenue is already secured, representing 83% of annual capacity, under the same condition. Europorte generated €45 million in revenue, up 7%, notably thanks to its infrastructure activities. Over nine months, its revenue increased by 10%, to €138 million. The subsidiary also obtained the renewal of its safety certificate in Belgium and Germany, as well as its extension to Switzerland.
2026 EBITDA target confirmed between €835 and €870 million
The group confirmed its 2026 EBITDA target of between €835 and €870 million. This range had been raised in July 2026, compared to €820 to €860 million in its February communication. It is based on growth assumptions qualified as reasonable for Eurotunnel, with limited disruptions related to the implementation of the EES and social movements in France. For Eleclink, the target incorporates revenue already secured at September 30, 2026, recent electricity prices, and a provision method for profit-sharing close to that of 2025. The group is also examining refinancing options for the C2B tranche (equivalent to the CLEF A8 tranche) of Eurotunnel's term loan. Chief Executive Officer Yann Leriche cited Trenitalia's order for new trains and Virgin's project targeting a 2030 launch as elements strengthening the group's confidence in its medium-term growth potential in the high-speed cross-Channel market. Over the first nine months of 2026, Getlink's consolidated revenue reached €1,345 million, compared to €1,206 million a year earlier at comparable exchange rates, an increase of 12%. The group had achieved €1,595 million in revenue for the 2025 fiscal year, according to its annual results published on February 26, 2026.
