Getlink (EU:GET) reported fourth-quarter and full-year FY25 results on Thursday that were broadly in line with market forecasts, lifting its shares by 1.4% in Paris trading.
Fourth-quarter revenue totalled €384 million, slightly below the Visible Alpha consensus estimate of €388 million. The modest miss was mainly attributable to Eurotunnel, where revenue reached €270 million versus expectations of €277 million, reflecting softer-than-anticipated traffic volumes and pricing.
Performance across the rest of the group was steadier. Europorte delivered quarterly revenue of €47 million, in line with forecasts, while ElecLink slightly outperformed expectations, generating €67 million compared with consensus estimates of €62 million.
“FY25 sales tell us little new, printing basically in-line,” said Jefferies analyst Graham Hunt in a post-results note.
Looking at profitability, Getlink’s FY25 EBITDA is now expected to exceed the company’s guidance range of €780–830 million, compared with a Visible Alpha consensus of €813 million. Hunt noted, however, that much of the uplift is explained by €55 million of compensation linked to ElecLink, announced in December, versus the €15 million previously assumed within guidance.
The analyst added that attention now turns to the group’s capital markets day on 26 February, when investors are expected to gain greater insight into capital allocation priorities and underlying asset demand, though he said he “remains cautious on the latter.”
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