COVID-19 curbs dent Channel Tunnel operator Getlink's revenue
Reuters
Published Jan 20, 2022 06:32
(Reuters) - The operator of the Channel Tunnel Getlink on Thursday reported a 6% drop in annual revenues, weighed down by the continued impact on passenger traffic of travel restrictions due to the coronavirus crisis.
The group, which operates the undersea railway tunnel that connects France with the U.K., posted revenue for the year ended December of 774.4 million euros ($878.87 million), against 827.1 million (recalculated) a year earlier.
The number of passengers crossing the Eurotunnel aboard Getlink's shuttles was particularly hurt, falling 32% over the year, while truck traffic decreased by 6%.
The fourth quarter, however, showed signs of recovery as revenues rose 13% to 225.1 million euros.
"2021 was a year of contrasts," Chief Executive Yann Leriche said in an earnings statement. He pointed out that "the appetite of customers" for Getlink's services was proven with each easing of border crossing conditions.
Last week, France eased COVID-19 protocols for vaccinated travellers from Britain, dropping a requirement for proof of an essential reason for the trip and for obligatory self-isolation upon arrival.
($1 = 0.8811 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.