Getlink reports "very encouraging" pre-tax profit as Covid restrictions ease

Getlink, which operates the Eurotunnel cross-Channel service, said it had achieved “very encouraging results” for the first half of the year after reporting a €45m (£38.2m) pre-tax profit.

It said the progressive lifting of Covid-19-related border restrictions for international travel had significantly improved the results and transformed the €127m (£107.8m) loss it made in the same period in 2021 into a profit.

Revenue for the period was €577m (£489.8m), up €249m (£211.4m) compared to H1 2021.

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• Le Shuttle freight traffic leaps but has yet to match pre-Covid levels

Truck traffic grew by 19% to 766,833 and was 15% higher in the second quarter of the period than in the first three months of the year.

As a result, Le Shuttle revenues increased by 76% to €335m (£284.4m).

Yann Leriche, Getlink chief executive, said: “In the first half of the year, we achieved very encouraging results, driven by the return of passenger traffic, the effects of our customer focused strategy and operational excellence, and the commercial launch of ElecLink.

“However, uncertainties linked to the evolution of both geopolitical and health events require us to remain prudent.”