Despite the fact that the tunnel opened some 25 years ago, the capacity utilisation was a mere 58% in 2017, meaning that there is strong room for organic growth. Finding ways to increase this utilisation rate is key for Getlink’s business model as, with higher utilisation and because of high fixed costs, the operating leverage improves significantly. Following this trading update, which gave no real hindsight below the top line, we expect little change to our valuation model.
24 Oct 2018
9m18: strong top-line performance, 58% utilisation rate means room for organic growth
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9m18: strong top-line performance, 58% utilisation rate means room for organic growth
Getlink SE (GET:WBO) | 0 0 1.0% | Mkt Cap: 5,970m
- Published:
24 Oct 2018 -
Author:
Felix Brunotte -
Pages:
3
Despite the fact that the tunnel opened some 25 years ago, the capacity utilisation was a mere 58% in 2017, meaning that there is strong room for organic growth. Finding ways to increase this utilisation rate is key for Getlink’s business model as, with higher utilisation and because of high fixed costs, the operating leverage improves significantly. Following this trading update, which gave no real hindsight below the top line, we expect little change to our valuation model.