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Home > Finance > Getlink cost to swell 12 million euros from extended ElecLink outage

Finance

Getlink cost to swell 12 million euros from extended ElecLink outage

Published by Uma Rajagopal

Posted on November 28, 2024

Featured image for article about Finance

(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)

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