PARIS--(BUSINESS WIRE)--Regulatory News:
Getlink SE (Paris: GET):
As stated in our press release dated 15 November, a fault was detected on the electrical interconnector between France and the UK, leading to a suspension of activity since 25 September.
The works to restore the cable outside the Tunnel in France are progressing.
However, these works are taking longer than previously envisaged. This will lead to an additional 2 weeks of outage to ensure the re-entry into service of the interconnector.
Consequently, the interconnector is expected to return to service on 16 December.
The extension of the suspension of activity until 16 December will have an additional commercial impact estimated at approximately 12 million euros1. Insurance coverage is being discussed with our insurers.
Group EBITDA target range for 2024 is unchanged at this stage.
About Getlink
Getlink SE (Euronext Paris: GET), through its subsidiary Eurotunnel, is the concession holder until 2086 for the Channel Tunnel infrastructure and operates Truck Shuttles and Passenger Shuttles (cars and coaches) between Folkestone (UK) and Calais (France). Since 31 December 2020 Eurotunnel has been developing the smart border to ensure that the Tunnel remains the fastest, most reliable, easiest and most environmentally friendly way to cross the Channel. Since it opened in 1994, close to 500 million people and more than 102 million vehicles have travelled through the Channel Tunnel. This unique land link, which carries a quarter of trade between the Continent and the United Kingdom, has become a vital link, reinforced by the ElecLink electricity interconnector installed in the Tunnel, which helps to balance energy needs between France and the United Kingdom. Getlink completes its sustainable mobility services with its rail freight subsidiary Europorte. Committed to "low-carbon" services that control their impact on the environment (through its activities, the Group avoids the equivalent of 1.9 million tonnes of CO2 per year), Getlink has made the place of people, nature and territories a central concern.
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1 These elements do not take into account the profit-sharing mechanism provision.
