Getlink Raises 2026 EBITDA Guidance on Strong H1 Performance
Event summary
- Getlink SE reported H1 2026 EBITDA of €404 million, up 12% YoY, prompting an upgrade to full-year guidance of €835-870 million.
- Eleclink revenue surged 71% YoY to €157 million, driven by high interconnector availability (99.7%) and favorable market conditions.
- Major shareholders Eiffage and Mundys increased their stakes, with Eiffage now holding 29.40% of the share capital.
- Eurotunnel's LeShuttle Freight market share rose to 35.8%, benefiting from competitive electric traction advantages.
The big picture
Getlink's strong H1 performance underscores the resilience of its diversified infrastructure model, combining Eurotunnel's operational stability with Eleclink's high-growth potential. The upgrade in EBITDA guidance reflects confidence in maintaining momentum despite geopolitical and economic challenges. Major shareholder investments signal long-term strategic backing, while regulatory pressures and competitive dynamics remain key variables to monitor.
What we're watching
- Regulatory Headwinds
- How UK business rate increases of €6-27 million annually will impact Eurotunnel's profitability and whether legal challenges can mitigate the cost burden.
- Execution Risk
- The pace at which Getlink can sustain Eleclink's strong performance amid volatile energy markets and competitive pressures.
- Strategic Expansion
- Whether the acquisition of Bongers Customs Services will successfully integrate into Getlink's customs services division and drive additional revenue streams.
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