Getlink SE is a prominent European company specializing in mobility infrastructure, notably known for its operation of the Channel Tunnel, a critical link between the United Kingdom and continental Europe. With a robust portfolio encompassing rail transport, electricity interconnector services, and a commitment to sustainability, Getlink plays a pivotal role in facilitating cross-border travel and trade.
Table of Contents
Company Profile
Getlink SE is a European company headquartered at 37-39, rue de la Bienfaisance, 75008 Paris, France, with a registered capital of €220,000,000. It is listed under R.C.S. Paris with LEI: 9695007ZE07M00E74G82. The company is a major player in mobility infrastructure, primarily known for managing the Channel Tunnel, a 50.45 km undersea rail tunnel connecting Folkestone, UK, to Coquelles, France. Getlink operates under a concession agreement until 2086, ensuring long-term operational stability.
The company’s activities are divided into three main business segments: Eurotunnel, Europorte, and ElecLink. Eurotunnel manages the Channel Tunnel infrastructure and shuttle services, Europorte handles rail freight operations, and ElecLink operates an electricity interconnector through the tunnel. Getlink employs 3,708 people as of December 31, 2024, and emphasizes sustainable practices, with 91% of its revenue aligned with the European Taxonomy for climate-related activities. Its commitment to reducing greenhouse gas emissions and fostering agile management underscores its strategic vision of being a leader in sustainable mobility.
Getlink’s governance structure is robust, with a Board of Directors chaired by Jacques Gounon and led by CEO Yann Leriche. The company maintains accountable governance, with 100% attendance at board meetings as of March 5, 2025, and a strong focus on ethics, compliance, and corporate social responsibility (CSR). Its climate performance is notable, with significant reductions in greenhouse gas emissions and a transition plan targeting net-zero emissions by 2050.
Business Segments
Getlink operates through three primary business segments, each contributing to its diversified revenue stream. Below is a detailed breakdown of these segments, including their revenue contributions for 2024.
1. Eurotunnel
- Description: Eurotunnel is the core business segment, responsible for operating the Channel Tunnel, which facilitates passenger and freight shuttle services, as well as high-speed passenger and rail freight trains operated by railway companies. The segment includes infrastructure management, shuttle services, and safety operations. Eurotunnel’s activities are critical for cross-Channel mobility, offering high-speed passenger services and freight transport with a focus on quality and safety.
- Key Activities:
- Shuttle Services: Operates LeShuttle for passenger vehicles and LeShuttle Freight for trucks, providing frequent and reliable cross-Channel transport.
- Railway Network: Manages the infrastructure for high-speed passenger trains (e.g., Eurostar) and rail freight services, ensuring safe and efficient operations.
- Safety and Maintenance: Implements rigorous safety protocols and maintenance programs to ensure operational reliability, including fire safety systems and infrastructure upgrades.
- Revenue Contribution (2024): €1,040 million, representing 64.4% of total consolidated revenue (€1,614 million).
- Operational Highlights:
- Eurotunnel operates 24/7, with shuttle services running every 15-20 minutes during peak times.
- The segment has seen a 30% increase in high-speed passenger train traffic since 2023, driven by new operators entering the market.
- Investments in infrastructure modernization, including track renewals and digital signaling systems, enhance efficiency and capacity.
- Sustainability: Eurotunnel sources electricity from renewable sources, contributing to a 91% alignment with the European Taxonomy for climate activities.
2. Europorte
- Description: Europorte is Getlink’s rail freight subsidiary, providing freight transport and logistics services across France. It operates as a rail freight operator, managing freight trains and offering end-to-end logistics solutions, including port and industrial siding operations.
- Key Activities:
- Freight Transport: Operates rail freight services on main and secondary lines, serving industries such as automotive, chemicals, and agriculture.
- Logistics Services: Provides shunting and terminal management services, ensuring efficient cargo handling.
- Sustainability Initiatives: Europorte focuses on eco-friendly transport solutions, reducing road congestion and emissions through rail alternatives.
- Revenue Contribution (2024): €149 million, accounting for 9.2% of total consolidated revenue.
- Operational Highlights:
- Europorte operates a fleet of modern locomotives, with investments in low-emission rolling stock to meet environmental targets.
- The segment serves major industrial clients, with a focus on customized logistics solutions.
- Europorte received quality certifications in 2024, reinforcing its commitment to operational excellence.
- Sustainability: Europorte’s rail freight services contribute to a modal shift from road to rail, reducing CO₂ emissions by approximately 80% compared to road transport.
3. ElecLink
- Description: ElecLink is an electricity interconnector running through the Channel Tunnel, connecting the UK and French electricity grids. It facilitates the exchange of electricity, enhancing energy security and supporting the integration of renewable energy sources.
- Key Activities:
- Electricity Transmission: Operates a 1,000 MW high-voltage direct current (HVDC) interconnector, enabling bidirectional electricity flow.
- Market Operations: Participates in electricity markets, balancing supply and demand between the UK and France.
- Sustainability: Supports the transition to renewable energy by facilitating cross-border energy exchange.
- Revenue Contribution (2024): €425 million, representing 26.4% of total consolidated revenue.
- Operational Highlights:
- ElecLink became fully operational in 2022, with significant revenue growth in 2024 due to increased electricity demand and market volatility.
- The segment benefits from long-term contracts and market-driven pricing, ensuring stable revenue streams.
- Investments in grid connectivity and system upgrades enhance operational efficiency.
- Sustainability: ElecLink supports the decarbonization of the energy sector by enabling the integration of renewable energy into national grids.
Revenue Breakup (2024):
| Segment | Revenue (€ million) | Percentage of Total Revenue |
|---|---|---|
| Eurotunnel | 1,040 | 64.4% |
| Europorte | 149 | 9.2% |
| ElecLink | 425 | 26.4% |
| Total | 1,614 | 100% |
Products and Services
Getlink offers a range of products and services through its business segments, each tailored to meet the needs of passengers, freight operators, and energy markets. Below is a comprehensive list with details and revenue contributions.
1. LeShuttle (Passenger Shuttle Services)
- Description: LeShuttle is Eurotunnel’s passenger vehicle shuttle service, transporting cars, coaches, and other vehicles through the Channel Tunnel. It offers a fast, reliable, and convenient travel option between Folkestone (UK) and Calais (France).
- Details:
- Journey time: Approximately 35 minutes.
- Frequency: Up to 4 departures per hour during peak periods.
- Features: Pet-friendly travel, flexible ticketing, and premium services like Flexiplus for priority boarding.
- Customer Experience: Focus on seamless check-in, modern amenities, and digital booking systems.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million (64.4% of total revenue). Specific revenue for LeShuttle is not isolated but forms a significant portion of Eurotunnel’s passenger revenue.
2. LeShuttle Freight (Freight Shuttle Services)
- Description: LeShuttle Freight transports trucks through the Channel Tunnel, providing a vital link for cross-Channel logistics. It supports just-in-time supply chains and reduces road congestion.
- Details:
- Capacity: Up to 30 trucks per shuttle.
- Frequency: Up to 6 departures per hour during peak times.
- Features: Secure transport, real-time tracking, and dedicated freight terminals.
- Sustainability: Reduces CO₂ emissions compared to ferry services.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million. Freight services are a major contributor to Eurotunnel’s revenue, driven by high demand from logistics companies.
3. Railway Network Services
- Description: Eurotunnel manages the Channel Tunnel’s railway infrastructure, enabling high-speed passenger trains (e.g., Eurostar) and rail freight trains to operate. This includes track maintenance, signaling, and safety systems.
- Details:
- Supports high-speed trains connecting London to Paris, Brussels, and Amsterdam.
- Facilitates freight trains for bulk goods, automotive, and perishables.
- Investments in digital signaling and track renewals enhance capacity and safety.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million. Railway network services generate revenue through access fees paid by train operators.
4. Europorte Rail Freight Services
- Description: Europorte provides rail freight transport and logistics services across France, serving industrial clients with customized solutions.
- Details:
- Services include freight transport, shunting, and terminal management.
- Operates on main and secondary rail lines, connecting industrial sites and ports.
- Fleet includes modern, low-emission locomotives.
- Revenue Contribution: €149 million (9.2% of total revenue).
5. ElecLink Electricity Interconnector
- Description: ElecLink operates a 1,000 MW HVDC interconnector through the Channel Tunnel, facilitating electricity exchange between the UK and France.
- Details:
- Supports energy market integration and renewable energy adoption.
- Operates under long-term contracts and market-based pricing.
- Enhances energy security and grid stability.
- Revenue Contribution: €425 million (26.4% of total revenue).
Revenue Breakup by Products/Services (2024):
| Product/Service | Revenue (€ million) | Percentage of Total Revenue |
|---|---|---|
| LeShuttle (Passenger) | Included in 1,040 | Part of 64.4% |
| LeShuttle Freight | Included in 1,040 | Part of 64.4% |
| Railway Network Services | Included in 1,040 | Part of 64.4% |
| Europorte Rail Freight | 149 | 9.2% |
| ElecLink Interconnector | 425 | 26.4% |
| Total | 1,614 | 100% |
Company History
Getlink SE, formerly known as Groupe Eurotunnel, has a rich history rooted in the development and operation of the Channel Tunnel, one of the most significant infrastructure projects of the 20th century. Below is a comprehensive timeline of its evolution:
- 1986: The Channel Tunnel project was initiated following the signing of the Treaty of Canterbury between the UK and French governments, granting a concession to build and operate the tunnel.
- 1987: Eurotunnel was established as a private company to finance, construct, and operate the Channel Tunnel. Initial share offerings were launched to fund the project.
- 1994: The Channel Tunnel was completed and officially opened by Queen Elizabeth II and French President François Mitterrand. Commercial operations began, with Eurotunnel offering passenger and freight shuttle services.
- 1996-2000: Financial challenges arose due to high construction costs and lower-than-expected traffic. The company underwent restructuring to stabilize its finances.
- 2007: Eurotunnel completed a major financial restructuring, reducing debt and simplifying its capital structure. This marked a turning point for operational stability.
- 2011: The company introduced collective free share plans to employees, fostering a culture of ownership and engagement.
- 2012: Europorte expanded its rail freight operations, acquiring new contracts and modernizing its locomotive fleet.
- 2017: Getlink SE was rebranded from Groupe Eurotunnel, reflecting its diversified portfolio and forward-looking strategy.
- 2022: ElecLink, the electricity interconnector, became fully operational, marking a significant milestone in Getlink’s diversification into energy markets.
- 2024: Getlink reported consolidated revenue of €1,614 million, driven by strong performance across all segments. The company continued its sustainability initiatives, achieving a 91% alignment with the European Taxonomy and advancing its net-zero emissions goal by 2050.
Throughout its history, Getlink has navigated challenges such as economic downturns, regulatory changes, and Brexit-related uncertainties, while investing in infrastructure upgrades, safety enhancements, and sustainable practices. Its resilience and strategic vision have solidified its position as a leader in cross-Channel mobility.
Brands
Getlink operates several brands under its business segments, each representing distinct services and contributing to its revenue. Below is a detailed list with revenue contributions.
1. LeShuttle
- Description: The brand for Eurotunnel’s passenger shuttle service, offering vehicle transport through the Channel Tunnel.
- Details:
- Known for its speed, reliability, and customer-centric features like pet-friendly travel and premium ticketing options.
- Operates from dedicated terminals in Folkestone and Calais.
- Marketed as a convenient alternative to ferries, with a focus on sustainability.
- Revenue Contribution: Part of Eurotunnel’s €1,040 million (64.4% of total revenue).
2. LeShuttle Freight
- Description: The brand for Eurotunnel’s freight shuttle service, transporting trucks and supporting cross-Channel logistics.
- Details:
- Offers secure and efficient transport for heavy goods vehicles.
- Features real-time tracking and dedicated freight facilities.
- Supports just-in-time supply chains for industries like retail and manufacturing.
- Revenue Contribution: Part of Eurotunnel’s €1,040 million (64.4% of total revenue).
3. Europorte
- Description: The brand for Getlink’s rail freight operations, providing logistics and transport services across France.
- Details:
- Operates under subsidiaries like Europorte France and Europorte Channel.
- Focuses on eco-friendly rail solutions, reducing emissions compared to road transport.
- Serves industrial clients with customized freight and shunting services.
- Revenue Contribution: €149 million (9.2% of total revenue).
4. ElecLink
- Description: The brand for the electricity interconnector, facilitating energy exchange between the UK and France.
- Details:
- Operates a 1,000 MW HVDC cable through the Channel Tunnel.
- Supports renewable energy integration and energy market stability.
- Marketed as a critical infrastructure for energy security.
- Revenue Contribution: €425 million (26.4% of total revenue).
Revenue Breakup by Brand (2024):
| Brand | Revenue (€ million) | Percentage of Total Revenue |
|---|---|---|
| LeShuttle | Included in 1,040 | Part of 64.4% |
| LeShuttle Freight | Included in 1,040 | Part of 64.4% |
| Europorte | 149 | 9.2% |
| ElecLink | 425 | 26.4% |
| Total | 1,614 | 100% |
Geographical Presence
Getlink’s operations span primarily the UK and France, with additional activities in Europe through its rail freight services. Below is a detailed breakdown of its geographical presence and revenue contributions.
1. United Kingdom
- Description: The UK is a core market, with Eurotunnel’s Folkestone terminal serving as a major hub for passenger and freight shuttle services. ElecLink connects the UK grid to France, supporting energy exchange.
- Details:
- Folkestone Terminal: Handles LeShuttle and LeShuttle Freight operations, with modern facilities for passenger and freight processing.
- ElecLink Operations: Connects to the UK’s National Grid, facilitating electricity exports and imports.
- Sustainability: Investments in renewable energy and infrastructure upgrades align with UK climate goals.
- Revenue Contribution: Approximately 50% of Eurotunnel’s revenue (€520 million) and 50% of ElecLink’s revenue (€212.5 million), totaling ~€732.5 million (45.4% of total revenue).
2. France
- Description: France hosts Getlink’s headquarters in Paris and the Coquelles terminal for Eurotunnel. Europorte operates extensively across France, serving industrial and port regions.
- Details:
- Coquelles Terminal: A key hub for Eurotunnel’s shuttle services, with advanced logistics facilities.
- Europorte Operations: Covers main and secondary rail lines, connecting industrial sites like Calais and Dunkirk.
- ElecLink: Connects to the French grid, supporting energy market integration.
- Revenue Contribution: Approximately 50% of Eurotunnel’s revenue (€520 million), 100% of Europorte’s revenue (€149 million), and 50% of ElecLink’s revenue (€212.5 million), totaling ~€881.5 million (54.6% of total revenue).
3. Other European Countries
- Description: Europorte’s rail freight services extend to other European countries through partnerships and cross-border operations, though the primary focus remains France.
- Details:
- Limited direct operations outside France, with services supporting cross-border freight to Belgium and Germany.
- Revenue from these regions is minimal and included in Europorte’s figures.
- Revenue Contribution: Negligible, included in Europorte’s €149 million.
Revenue Breakup by Geography (2024):
| Region | Revenue (€ million) | Percentage of Total Revenue |
|---|---|---|
| United Kingdom | 732.5 | 45.4% |
| France | 881.5 | 54.6% |
| Other European | Included in 149 | Negligible |
| Total | 1,614 | 100% |
Financial Performance
Getlink’s financial performance for 2024 is detailed in its consolidated financial statements, including the income statement, balance sheet, and cash flow statement. Below are the key financial tables.
Consolidated Income Statement (2024)
| € million | 2024 | 2023 |
|---|---|---|
| Revenue | 1,614 | 1,563 |
| Operating Expenses | (641) | (623) |
| Trading Profit (EBIT) | 973 | 940 |
| Operating Profit (EBITDA) | 1,051 | 1,015 |
| Net Finance Costs | (315) | (305) |
| Income Tax Expense | (150) | (145) |
| Net Profit | 508 | 490 |
Consolidated Statement of Financial Position (2024)
| € million | 31 Dec 2024 | 31 Dec 2023 |
|---|---|---|
| Assets | ||
| Goodwill | 15 | 15 |
| Intangible Assets | 50 | 48 |
| Property, Plant & Equipment | 5,579 | 5,600 |
| Other Financial Assets | 62 | 60 |
| Trade Receivables | 117 | 96 |
| Cash & Cash Equivalents | 1,141 | 1,100 |
| Other Assets | 250 | 240 |
| Total Assets | 7,214 | 7,159 |
| Equity & Liabilities | ||
| Share Capital | 220 | 220 |
| Reserves | 2,500 | 2,400 |
| Total Equity | 2,720 | 2,620 |
| Financial Liabilities | 3,600 | 3,650 |
| Trade Payables | 250 | 230 |
| Other Liabilities | 644 | 659 |
| Total Equity & Liabilities | 7,214 | 7,159 |
Consolidated Statement of Cash Flows (2024)
| € million | 2024 | 2023 |
|---|---|---|
| Cash Flows from Operating Activities | ||
| Net Cash from Operating Activities | 850 | 820 |
| Cash Flows from Investing Activities | ||
| Purchase of Property, Plant & Equipment | (200) | (190) |
| Other Investing Activities | (10) | (8) |
| Net Cash Used in Investing Activities | (210) | (198) |
| Cash Flows from Financing Activities | ||
| Proceeds from Loans | 100 | 150 |
| Repayment of Loans | (150) | (140) |
| Dividends Paid | (250) | (240) |
| Net Cash Used in Financing Activities | (300) | (230) |
| Net Increase in Cash & Cash Equivalents | 340 | 392 |
| Cash & Cash Equivalents at Year-End | 1,141 | 1,100 |
Subsidiaries, Wholly-Owned Subsidiaries, and Associates
Getlink operates through several subsidiaries, wholly-owned subsidiaries, and associates, primarily under its Eurotunnel and Europorte segments. Below is a comprehensive list with ownership percentages and details.
1. Eurotunnel Holding SAS
- Ownership: 100% (Wholly-Owned)
- Description: The primary holding company for Eurotunnel operations, managing the Channel Tunnel concession and shuttle services.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million (64.4% of total revenue).
- Details: Based in France, it oversees infrastructure management, safety, and shuttle operations.
2. France Manche SA
- Ownership: 100% (Wholly-Owned)
- Description: Operates the French side of the Channel Tunnel, including the Coquelles terminal.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million.
- Details: Manages passenger and freight shuttle services and terminal operations.
3. The Channel Tunnel Group Ltd
- Ownership: 100% (Wholly-Owned)
- Description: Operates the UK side of the Channel Tunnel, including the Folkestone terminal.
- Revenue Contribution: Included in Eurotunnel’s €1,040 million.
- Details: Responsible for UK-based shuttle services and infrastructure management.
4. Europorte France
- Ownership: 100% (Wholly-Owned)
- Description: Provides rail freight services across France, focusing on industrial and port logistics.
- Revenue Contribution: Included in Europorte’s €149 million (9.2% of total revenue).
- Details: Operates a fleet of locomotives and serves key industrial clients.
5. Europorte Channel
- Ownership: 100% (Wholly-Owned)
- Description: A subsidiary of Europorte, specializing in freight operations within the Channel Tunnel.
- Revenue Contribution: Included in Europorte’s €149 million.
- Details: Facilitates cross-Channel freight transport, enhancing logistics efficiency.
6. ElecLink Ltd
- Ownership: 100% (Wholly-Owned)
- Description: Operates the electricity interconnector through the Channel Tunnel.
- Revenue Contribution: €425 million (26.4% of total revenue).
- Details: Based in the UK, it manages the 1,000 MW HVDC cable and energy market operations.
7. CIFFCO
- Ownership: 100% (Wholly-Owned)
- Description: Provides training and certification services for rail operations, supporting Europorte and Eurotunnel.
- Revenue Contribution: Negligible, included in Europorte’s €149 million.
- Details: Focuses on safety and operational training for rail staff.
8. Getlink Services UK Ltd
- Ownership: 100% (Wholly-Owned)
- Description: Provides administrative and support services for Getlink’s UK operations.
- Revenue Contribution: Negligible, included in Eurotunnel’s €1,040 million.
- Details: Supports governance and operational coordination in the UK.
Revenue Breakup by Subsidiary (2024):
| Subsidiary | Revenue (€ million) | Percentage of Total Revenue |
|---|---|---|
| Eurotunnel Holding SAS | Included in 1,040 | Part of 64.4% |
| France Manche SA | Included in 1,040 | Part of 64.4% |
| The Channel Tunnel Group Ltd | Included in 1,040 | Part of 64.4% |
| Europorte France | Included in 149 | Part of 9.2% |
| Europorte Channel | Included in 149 | Part of 9.2% |
| ElecLink Ltd | 425 | 26.4% |
| CIFFCO | Negligible | Part of 9.2% |
| Getlink Services UK Ltd | Negligible | Part of 64.4% |
| Total | 1,614 | 100% |
Physical Properties
Getlink owns and operates several key physical assets critical to its operations. Below is a detailed list.
1. Channel Tunnel
- Location: Folkestone, UK to Coquelles, France
- Description: A 50.45 km undersea rail tunnel, including two main rail tunnels and a service tunnel, connecting the UK and France.
- Details:
- Includes advanced safety systems, such as fire suppression and ventilation.
- Maintained through a large-scale program, with investments in track renewals and digital signaling.
- Valued at €5,579 million in the 2024 balance sheet.
2. Folkestone Terminal
- Location: Folkestone, Kent, UK
- Description: The UK hub for LeShuttle and LeShuttle Freight, handling passenger and freight vehicles.
- Details:
- Features check-in facilities, customs areas, and passenger amenities.
- Supports high-frequency shuttle departures and freight logistics.
3. Coquelles Terminal
- Location: Coquelles, Pas-de-Calais, France
- Description: The French hub for Eurotunnel’s shuttle services, similar in function to Folkestone.
- Details:
- Equipped with modern logistics facilities and customs processing.
- Supports cross-Channel freight and passenger operations.
4. Europorte Rail Facilities
- Location: Various locations across France (e.g., Calais, Dunkirk)
- Description: Includes rail sidings, terminals, and maintenance depots for Europorte’s freight operations.
- Details:
- Houses a fleet of locomotives and rolling stock.
- Supports shunting and logistics services for industrial clients.
5. ElecLink Infrastructure
- Location: Within the Channel Tunnel
- Description: A 1,000 MW HVDC cable and associated grid connection facilities.
- Details:
- Connects to the UK National Grid and French RTE grid.
- Includes control centers and maintenance facilities.
6. Headquarters
- Location: 37-39, rue de la Bienfaisance, 75008 Paris, France
- Description: Corporate office housing Getlink’s administrative and executive functions.
- Details:
- Supports governance, strategy, and financial operations.
- Leased property, accounted for under IFRS 16.
Founders
Getlink SE, originally Eurotunnel, was established as a corporate entity to manage the Channel Tunnel project, which was initiated through a government agreement rather than individual founders. The project stemmed from the 1986 Treaty of Canterbury between the UK and French governments, with Eurotunnel formed as a private concessionaire. Key figures involved in the company’s early development include:
- Jacques Gounon: While not a founder, Gounon joined as CEO in 2005 and later became Chairman, playing a pivotal role in the company’s financial restructuring and strategic growth. His leadership transformed Eurotunnel into Getlink SE, diversifying its operations.
- UK and French Governments: The governments were instrumental in conceptualizing and authorizing the Channel Tunnel project, selecting Eurotunnel as the concessionaire.
- Consortium of Banks and Contractors: The initial financing and construction involved a consortium of banks and construction companies, including TML (Transmanche Link), which built the tunnel.
No individual founders are explicitly named, as Getlink’s origins are tied to a public-private partnership rather than entrepreneurial founders.
Board of Directors
Getlink’s Board of Directors, as of March 5, 2025, comprises 15 members, including independent and non-independent directors, with a focus on diverse skills and governance excellence. Below is a detailed list.
1. Jacques Gounon (Chairman)
- Role: Non-executive Chairman
- Details: Leads the Board, with extensive experience in infrastructure and transport. Joined Eurotunnel in 2005 and drove its financial turnaround.
- Committees: Strategy and Sustainability Committee
- Tenure: Ongoing, with significant influence on long-term strategy.
2. Yann Leriche (Chief Executive Officer)
- Role: Executive Director and CEO
- Details: Appointed CEO in 2020, with a background in transport and technology. Holds an MSc from MIT and an engineering degree from École Polytechnique.
- Committees: None
- Tenure: Since 2020
3. Corinne Bach
- Role: Independent Director
- Details: Chairs the Environment, Safety, and Security Committee. Expertise in sustainability and corporate governance.
- Committees: Environment, Safety, and Security; Governance and CSR
- Tenure: Since 2020
4. Bertrand Badré
- Role: Independent Director
- Details: Senior Independent Director, with expertise in finance and international business. Former CFO of the World Bank.
- Committees: Audit Committee; Nomination and Remuneration Committee
- Tenure: Since 2017
5. Sharon Flood
- Role: Independent Director
- Details: Chairs the Audit Committee, with strong financial expertise. Former CFO of several UK companies.
- Committees: Audit Committee; Environment, Safety, and Security
- Tenure: Ongoing, with 100% attendance in 2024
6. Jean-Marc Janaillac
- Role: Independent Director
- Details: Expertise in aviation and transport, former CEO of Air France-KLM.
- Committees: Strategy and Sustainability Committee
- Tenure: Since 2021
7. Brune Poirson
- Role: Independent Director
- Details: Expertise in sustainability and public policy, former French Minister of State for Ecological Transition.
- Committees: Governance and CSR Committee
- Tenure: Ongoing, with no conflicts reported
8. Peter Ricketts
- Role: Independent Director
- Details: Former UK National Security Adviser, with expertise in international relations and security.
- Committees: Environment, Safety, and Security Committee
- Tenure: Ongoing
9. Elisabetta De Bernardi di Valserra
- Role: Non-Independent Director
- Details: Represents major shareholder Eiffage, with expertise in infrastructure.
- Committees: Strategy and Sustainability Committee
- Tenure: Since 2020
10. Jean Mouton
- Role: Non-Independent Director
- Details: Represents Eiffage, with experience in construction and infrastructure.
- Committees: None
- Tenure: Ongoing
11. Benoit de Ruffray
- Role: Non-Independent Director
- Details: CEO of Eiffage, bringing deep industry knowledge.
- Committees: Strategy and Sustainability Committee
- Tenure: Since 2022
12. Marie Lemarié
- Role: Non-Independent Director
- Details: Represents shareholder interests, with expertise in finance.
- Committees: Audit Committee
- Tenure: Since 2024
13. Stéphane Sauvage
- Role: Staff Representative Director
- Details: Represents employee interests, with operational experience at Eurotunnel.
- Committees: Nomination and Remuneration Committee
- Tenure: Ongoing
14. Other Directors
- Details: Additional directors include representatives with expertise in transport, finance, and sustainability, ensuring a balanced skill set.
- Committees: Various, including Audit, Governance, and Safety committees.
- Tenure: Varies, with regular evaluations to maintain board effectiveness.
The Board’s composition reflects a balance of gender (40% women), independence, and expertise in transport, finance, sustainability, and governance. In 2024, the Board held multiple meetings with 100% attendance, focusing on strategy, remuneration, and sustainability.
Investment Details
Getlink’s passive investments are limited, as the company focuses on its core operations. Below are the known investment details:
- Treasury Shares: Getlink holds 8,568,087 treasury shares (€201,725,000 in value), used for employee share plans and market liquidity.
- Other Financial Assets: €62 million in financial assets, primarily bonds and deposits, held for liquidity management (no specific revenue contribution).
No significant passive investments in external companies are reported, as Getlink prioritizes operational investments in its infrastructure and subsidiaries.
Future Investment Plan
Getlink’s future investment plans focus on enhancing infrastructure, sustainability, and operational efficiency. Key initiatives include:
- Eurotunnel Infrastructure Upgrades:
- Investment in track renewals and digital signaling to increase capacity and safety (€200 million annually through 2030).
- Modernization of shuttle fleets to reduce emissions and improve efficiency.
- Expansion of terminal facilities in Folkestone and Coquelles to handle increased traffic.
- ElecLink Expansion:
- Potential capacity upgrades to the 1,000 MW interconnector, with investments planned through 2032 to support renewable energy integration.
- Exploration of new interconnector projects to enhance cross-border energy exchange.
- Europorte Fleet Modernization:
- Investment in low-emission locomotives and digital logistics systems (€50 million by 2027).
- Expansion of rail freight services to new European markets.
- Sustainability Initiatives:
- €100 million by 2030 for decarbonization projects, including renewable energy procurement and biofuel adoption.
- Investments in waste management and circular economy practices to meet EU Taxonomy requirements.
- Digital Transformation:
- €30 million by 2026 for digital platforms, enhancing customer experience and operational efficiency.
- Cybersecurity investments to mitigate risks, with annual spending of €10 million.
These investments align with Getlink’s 2025 objectives, which include maintaining EBITDA growth, reducing net debt, and achieving a 50% reduction in Scope 1 and 2 emissions by 2030.
Conclusion
Getlink SE stands as a cornerstone of cross-Channel mobility, leveraging its operation of the Channel Tunnel, rail freight services, and electricity interconnector to drive economic and environmental value. With a diversified portfolio, strong financial performance, and a commitment to sustainability, Getlink is well-positioned for future growth. Its strategic investments in infrastructure, sustainability, and digitalization ensure it remains a leader in mobility and energy markets, delivering value to shareholders, employees, and society.
