Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Atlantia SpA    ATL   IT0003506190


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Channel tunnel operator Getlink's first half profits rise

share with twitter share with LinkedIn share with facebook
share via e-mail
07/25/2018 | 02:04am EDT
FILE PHOTO - Jacques Gounon, Chairman and CEO of Channel tunnel operator Getlink, poses before the company's 2017 annual results presentation in Paris

PARIS (Reuters) - Channel tunnel operator Getlink expressed confidence over growing profits and dividends this year and in the next four years, despite the challenges of Brexit.

Getlink, formerly known as Eurotunnel, struck the upbeat tone after reporting higher first-half earnings and revenue, despite the impact of French railway strikes that shaved 4.5 million euros (£4 million) off group revenue.

Getlink carries Eurostar high-speed trains between Paris, Brussels and London, as well as shuttle trains containing passenger cars, coaches and freight trucks.

"Our first half figures are very satisfactory and we have confidence in the future. We keep our forecasts for 2018 and our outlook for the medium-term," Getlink Chief Executive Jacques Gounon told a conference call on its first-half results.

He added Getlink expected to grow its EBITDA (earnings before interest, tax, depreciation and amortisation) annually.

"I do not expect a major change in trends, even with Brexit. We think we can continue to grow our EBITDA each year," he said.

The company, which since March has been 15.5 percent owned by Italian motorway and airport operator Atlantia, said first-half EBITDA had risen 5 percent to 250 million euros, while revenues climbed 4 percent.

Getlink kept its guidance for EBITDA of 545 million euros for the 2018 full year, with a dividend of 0.35 euros per share.

It also reiterated its outlook for EBITDA of over 735 million by 2022, with a free cash flow of 400 million euros.

Its dividend is set to rise 0.05 euros each year by 2022.


Earlier this month, the International Monetary Fund cut its forecast for 2018 British economic growth to 1.4 percent from 1.6 percent, partly reflecting uncertainties over Brexit.

Nevertheless, Gounon said that despite Britain's decision to quit the European Union, Getlink stood to benefit from a new Eurostar London-to-Amsterdam route that started in April and the launch of the ElecLink power line in 2020.

Eurotunnel renamed itself Getlink last November to reflect the fact that the company has other businesses besides operating the Channel tunnel. They include Europorte, which runs the rail freight business, and ElecLink, a projected power line to connect the French and UK national grids.

Gounon confirmed that Getlink had submitted to Eurostar, which runs the existing high-speed train service, a study it had commissioned for a new budget service between London and Paris.

This new service would leave Stratford in east London and take three hours compared with two hours and 20 minutes on Eurostar.

It would have operating costs 25-30 percent lower than the current Eurostar service and thus offer a lower fare, he said.

"We asked Eurostar to think about it. If they are not interested, we will propose it to others."

(Reporting by Dominique Vidalon; Editing by Sudip Kar-Gupta)

By Dominique Vidalon

Stocks mentioned in the article
ChangeLast1st jan.
ATLANTIA SPA -2.05% 14.595 Delayed Quote.-29.80%
GETLINK SE 0.70% 12.98 Real-time Quote.-16.31%
SHUTTLE INC. -0.53% 9.38 End-of-day quote.-23.11%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on ATLANTIA SPA
05/29ATLANTIA : scraps share buyback lo let units qualify for state-backed loans
05/28ATLANTIA : Italy's Benettons open to cutting stake in Atlantia or its motorway u..
05/27ATLANTIA : Italy PM meeting with allies fails to break Atlantia deadlock
05/26More work needed on Atlantia's Autostrade dossier - minister
05/20AUTOGRILL : Atlantia's Telepass unit does not need state-backed loans
05/09ITALIAN COMPANIES ASK FOR $20 BILLIO : credit agency
05/04Alitalia suspends its last long-haul flight
04/30Italy's airport lobby says social distancing on planes not sustainable
04/29GLOBAL MARKETS LIVE: A flurry of earnings reports
04/28ATLANTIA : Italy's Atlantia says virus will shave 3 billion euros from 2020 sale..
More news
Sales 2020 8 715 M 9 680 M 9 680 M
Net income 2020 23,8 M 26,4 M 26,4 M
Net Debt 2020 37 235 M 41 357 M 41 357 M
P/E ratio 2020 170x
Yield 2020 2,56%
Capitalization 11 939 M 13 273 M 13 260 M
EV / Sales 2019
EV / Sales 2020 5,64x
Nbr of Employees 28 955
Free-Float 55,6%
Duration : Period :
Atlantia SpA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ATLANTIA SPA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 18
Average target price 17,88 €
Last Close Price 14,60 €
Spread / Highest target 80,9%
Spread / Average Target 22,5%
Spread / Lowest Target -54,2%
EPS Revisions
Carlo Bertazzo Chief Executive Officer & Executive Director
Fabio Cerchiai Chairman
Tiziano Ceccarani Chief Financial Officer
Valentina Martinelli Non-Executive Director
Giuseppe Guizzi Independent Director
Sector and Competitors