Getlink SE Revenue Jumps 15% in Q1 2026, Driven by Eleclink Surge

Event summary

  • Getlink SE reported a 15% year-over-year revenue increase in Q1 2026, reaching €371 million.
  • Eleclink's revenue surged 112% to €70 million, driven by favorable electricity market conditions.
  • Eiffage and Mundys increased their stakes in Getlink, with Eiffage now holding 29.40% and Mundys acquiring 3.5% (with an option for an additional 6%).
  • Eurotunnel's revenue grew 4% to €258 million, with stable market share in shuttle services.
  • Getlink confirmed its 2026 EBITDA target of €820–860 million.

The big picture

Getlink's strong Q1 2026 performance highlights the strategic value of its diversified portfolio, particularly Eleclink's role in balancing energy needs between France and the UK. The increased stakes by major shareholders signal confidence in the company's long-term prospects, though regulatory and market volatility remain key risks. The Group's ability to navigate these challenges will be critical in sustaining its growth trajectory.

What we're watching

Energy Market Volatility
How sustained high energy prices will impact Eleclink's revenue growth and Getlink's diversification strategy.
Regulatory Pressures
Whether Getlink can mitigate the rising business rates imposed by the Valuation Office Agency.
Investor Consolidation
The pace at which Eiffage and Mundys may further increase their stakes, potentially influencing governance.