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Business

Getlink, parent company of Eurotunnel, releases financial figures for 2019

By: Chris Britcher cbritcher@thekmgroup.co.uk

Published: 09:55, 27 February 2020

Updated: 09:57, 27 February 2020

The parent company of Eurotunnel says it performed "robustly" during 2019, despite a "changing and complex environment".

Getlink, the Paris-based public company which operates the Channel Tunnel, said it had seen growth of 20% in consolidated net profit to £491million with revenues stable at £918m.

Millions of passengers used the service during the last year

During 2019, more than 2.6m passenger vehicles and 1.6m trucks used the link between Folkestone and Coquelles in France. That equates to a 56.9% share of car traffic and 40.4% for trucks across the shortest route to the Continent.

There was also a record 11m passengers using the Eurostar service courtesy of the addition of the London to Amsterdam service.

It also confirmed it has invested some £25m in infrastructure to prepare for Brexit and smart border technology.

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In addition, it has received £11m so far of the £33m settlement with the UK government over the award of a freight ferry contract to Seaborne Ferries out of Ramsgate as part of Brexit preparations.

And the results should please shareholders with a 14% increase in dividends set to be proposed at its AGM at the end of April to 35p per share.

Eurotunnel's financial figures for 2019 will see dividends for shareholders

Jacques Gounon, chairman and chief executive of the group, said: “Getlink has achieved its highest net result since 2007 on a like-for-like basis. The group performed robustly in 2019, in line with our forecasts and in line with market expectations, despite a changing and complex environment.”

The company celebrated its 25th anniversary last year.

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