PARIS (dpa-AFX) - French railway company Getlink SE (GRPTY), formerly Groupe Eurotunnel SE, reported Thursday that its consolidated EBITDA for the first half was 123 million euros, down 52 percent from last year.
The Group's consolidated revenue for the first half of 2020 totaled 369 million euros, down 29 percent from the prior year, hugely impacted by the consequences of the worldwide COVID-19 crisis.
In the Eurotunnel segment, EBITDA fell 52 percent to 120 million euros and revenue declined 32 percent to 311 million euros. The company noted that truck and passenger traffic were impacted by the COVID-19 health crisis.
At Europorte, profitability maintained with an EBITDA of 10 million euros, despite the impacts on the business of the SNCF-Réseau strike until January 13 and subsequently the COVID-19 crisis. EBITDA declined by 3 million euros from last year. Revenues fell 12 percent to 58 million euros.
Looking ahead, the company said, 'Within a global context of the COVID-19 pandemic since mid-March and, taking into account the related uncertainties that remain, the Group gives an indication of 350 million euros for EBITDA in 2020, based on the growth assumptions set out by the BoE and the BoF, and on the assumption that there is no reintroduction of lockdown measures.'
The company earlier had set a financial target for 2020 EBITDA of 580 million euros.
The 2022 objective has been withdrawn within the context of the COVID-19 pandemic. The company previously expected exceeding 735 million euros in EBITDA by 2022.
Copyright RTT News/dpa-AFX