Getlink

Getlink
Name	Getlink
Type	Société anonyme
Traded as	Euronext: GET
Industry	Transport, Infrastructure
Founded	02 August 1986
Hq location	Paris, France
Key people	Yann Leriche (CEO)
Services	Rail transport, Fixed-link operation
Revenue	€1.821 billion (2023)
Num employees	3,845 (2023)

Getlink. Formerly known as Groupe Eurotunnel, it is a European public company that operates the Channel Tunnel infrastructure, providing fixed-link transport services between Continental Europe and Great Britain. The company manages the railway tunnels and terminal facilities, offering services for Eurostar passenger trains and Eurotunnel Le Shuttle vehicle transport. Listed on Euronext Paris, it has expanded its portfolio to include ElecLink, an electricity interconnector, and holds a stake in the rail freight operator Europorte.

History

The project to create a fixed link beneath the English Channel gained political momentum with the signing of the Treaty of Canterbury in 1986 by François Mitterrand and Margaret Thatcher. The Channel Tunnel construction, undertaken by the TransManche Link consortium, began in 1988 and was completed in 1994, with formal inauguration by Queen Elizabeth II and President François Mitterrand. The operating company, originally named Eurotunnel, faced significant financial difficulties in its early years, leading to a major debt restructuring in 2007. In 2017, the group rebranded as Getlink to reflect its diversification beyond tunnel operations, while the cross-channel shuttle service retained the Eurotunnel brand.

Operations

Core operations revolve around managing and maintaining the Channel Tunnel infrastructure, which consists of two single-track railway tunnels and a service tunnel. The company provides access to this infrastructure under concession agreements to railway operators. Its primary customer services include Eurotunnel Le Shuttle, which transports tourist and freight vehicles between Folkestone and Coquelles, and the provision of passage for Eurostar high-speed passenger trains. Additional operations include the ElecLink HVDC electricity interconnector, which became operational in 2022, and logistics services through its subsidiary Europorte.

Infrastructure

The fixed link's main infrastructure is the 50.5-kilometer Channel Tunnel, with its undersea section being one of the longest in the world. The terminals at Folkestone in the United Kingdom and Coquelles near Calais in France feature extensive facilities for processing vehicles, including loading platforms, customs checks, and waiting areas. The tunnel's rail transport system is designed for both high-speed rail and heavy rail freight, with sophisticated signalling, ventilation, and safety systems. The ElecLink project repurposes one of the service tunnel's cables to transmit electricity between the British and French grids.

Financial performance

Getlink's revenue is primarily generated from fixed access fees paid by railway operators like Eurostar and variable fees from its own Le Shuttle service. The company achieved its first net profit in 2007 following its financial restructuring. For the 2023 fiscal year, the group reported revenue of €1.821 billion, with a significant portion derived from shuttle services. Its shares are a constituent of the CAC Mid 60 index on Euronext Paris. Financial performance is closely tied to cross-channel traffic volumes, which can be affected by events such as the COVID-19 pandemic and changes following the UK's withdrawal from the European Union.

Corporate structure and governance

Getlink is incorporated as a Société anonyme under French law and is headquartered in Paris. The company is governed by a Board of directors chaired by Jacques Gounon, with Yann Leriche serving as Chief Executive Officer. Its major subsidiaries include Eurotunnel (the shuttle operator), ElecLink, and Europorte. The French government and the British government oversee the infrastructure through an intergovernmental commission and a safety authority, in accordance with the Treaty of Canterbury and subsequent concession agreements.

Environmental and social impact

The company promotes rail transport as a lower-carbon alternative to short-haul air and ferry travel across the English Channel. Its ElecLink interconnector supports the integration of renewable energy markets between Great Britain and Continental Europe. Getlink has implemented various initiatives to protect the local environment around its terminals, particularly in the Pas-de-Calais region. Socially, it is a major employer in the Hauts-de-France region and works with local authorities on community projects, while also managing the significant logistical and security challenges associated with a critical international transport link.

Category:Companies listed on Euronext Paris Category:Rail transport in France Category:Rail transport in Great Britain Category:Transport companies of France Category:Companies based in Paris