As expected, Q1 revenue was down by 9% on a lfl basis due to the SNCF strike in January and the lockdowns in March. Getlink observed a significant decline in traffic, with the drop in shuttle traffic concentrated towards the end of March. Europorte’s revenue was down by just 5%, mostly due to the SNCF strike. Getlink has discarded its previous 2020 outlook. The Q1 performance has so far been in line with our assumptions, hence we will keep our target price unchanged.
23 Apr 2020
Q1 20: negative growth in Q1 for the first time in a decade
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Q1 20: negative growth in Q1 for the first time in a decade
Getlink SE (GET:WBO) | 0 0 1.0% | Mkt Cap: 5,970m
- Published:
23 Apr 2020 -
Author:
Sejal Varshney -
Pages:
3
As expected, Q1 revenue was down by 9% on a lfl basis due to the SNCF strike in January and the lockdowns in March. Getlink observed a significant decline in traffic, with the drop in shuttle traffic concentrated towards the end of March. Europorte’s revenue was down by just 5%, mostly due to the SNCF strike. Getlink has discarded its previous 2020 outlook. The Q1 performance has so far been in line with our assumptions, hence we will keep our target price unchanged.