No surprises, Getlink announced weaker Q1 21 results, with revenue down 33% yoy. Shuttle revenue was impacted by travel restrictions, pre-Brexit stockpiling in FY20, and by border control introduced in 2021. Railway Network revenue was down 51% due to travel restrictions still in force. Traffic at Eurostar was down by 95%. Europorte continued to show resilience with sales up by 4%. The result was quite in line with our expectations; hence, we will not make substantial changes to the model.
23 Apr 2021
Q1 21: still waiting for some visibility
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Q1 21: still waiting for some visibility
- Published:
23 Apr 2021 -
Author:
Sejal Varshney -
Pages:
2
No surprises, Getlink announced weaker Q1 21 results, with revenue down 33% yoy. Shuttle revenue was impacted by travel restrictions, pre-Brexit stockpiling in FY20, and by border control introduced in 2021. Railway Network revenue was down 51% due to travel restrictions still in force. Traffic at Eurostar was down by 95%. Europorte continued to show resilience with sales up by 4%. The result was quite in line with our expectations; hence, we will not make substantial changes to the model.