January 23, 2020 / 6:37 AM / a month ago

Getlink's revenues hit by Brexit and strikes in France

FILE PHOTO: The logo of Channel tunnel operator Getlink, formerly known as Eurotunnel, is seen during the company's 2018 annual results presentation in Paris, France, February 21, 2019. REUTERS/Charles Platiau

(Reuters) - France’s Getlink (GETP.PA) estimated Brexit and protests in France have had an 18 million euro ($20 million) negative impact on its full-year revenues, it said on Thursday.

2019 was a tumultuous year in France as the anti-government ‘yellow vests’ strikes spilt over from 2018 to be later followed by Brexit-linked customs strikes in spring and, most recently, strikes against Emmanuel Macron’s planned pension reforms.

All these movements contributed to the hit Getlink’s revenues took in 2019, Romain Dufour, the company’s spokesman, said.

This is the first time the Channel tunnel operator has quantified the impact of these events.

The number of passengers who crossed the Channel last year fell 2% to 2.6 million compared with 2018 due to uncertainties surrounding Brexit, Getlink said, leading to a decrease in shuttle services revenue.

Getlink’s full-year revenues remained practically unchanged year-on-year at 1.09 billion euros, while those for the fourth quarter declined 4%, following two previous quarters of stagnation.

Getlink did not comment on its full-year outlook for 560 million euros in earnings before interest, tax, depreciation and amortization it confirmed in October.

Reporting by Maria Trybus in Gdansk; editing by Jonathan Oatis

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