Finance
Getlink cost to swell 12 million euros from extended ElecLink outage
Published by Global Banking & Finance Review®
Posted on November 28, 2024
1 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 28, 2024
1 min readLast updated: January 28, 2026
Getlink's ElecLink outage extends by two weeks, adding €12 million to costs. Service to resume December 16, with 2024 EBITDA targets unchanged.
(Reuters) - Getlink, which runs the undersea tunnel between France and Britain, said on Wednesday its ElecLink interconnector will be out of service for two more weeks.
The cross-channel electric cable is to return to service on December 16, it said, for an extension that will have an additional impact of about 12 million euros ($12.66 million) beyond the 46 million euros it estimated in October.
"The works to restore the cable outside the Tunnel in France are progressing. However, these works are taking longer than previously envisaged.", Getlink said in a statement.
The group said its 2024 target range for earnings before interest, taxes, depreciation, and amortisation (EBITDA) remained unchanged.
($1=0.9480 euros)
(Reporting by Nathan Vifflin in Gdansk; Editing by Clarence Fernandez)
The main topic is the extended outage of Getlink's ElecLink interconnector and its financial impact.
The extended outage will cost Getlink an additional €12 million.
The ElecLink is expected to return to service on December 16.
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