Slide 1: Half-Year Results
HALF-YEAR RESULTS 23 JULY 2020 1 2020 H1 Results Getlink
Slide 2: Separation of Executive Responsibilities on 1st July
GETLINK SEPARATION OF EXECUTIVE RESPONSIBILITIES ON 1ST JULY Governance structure adapted to support the development of the Group for the next decade Separation of the functions of Chairman and CEO / new CEO / international, diversified and renewed Board of Directors Jacques Yann GOUNON LERICHE Chai
Slide 3: Summary
GETLINK SUMMARY KEY FINANCIAL MESSAGES RESULTS 1 2 3 2020 H1 Results Getlink
Slide 4: Key Messages
1 KEY MESSAGES 4 2020 H1 Results Getlink
Slide 5: Fundamentals Unchanged Despite Covid-19
KEY MESSAGES FUNDAMENTALS UNCHANGED DESPITE COVID-19 Eurotunnel Europorte Strong liquidity Dividend CSR Priority to safety, Solid business maintained Confirmed Stakeholder quality of service Still positive €511M cash commitment mapping and wellbeing of EBITDA staff and customers 5 2020 H1 Results Ge
Slide 6: Quick Reaction to Covid-19 Crisis
KEY MESSAGES QUICK REACTION TO COVID-19 CRISIS Priority given to: Safety along the value chain (staff, customers, subcontractors…) No disruption of traffic Flexibility to adjust offer to traffic demand https://youtu.be/kZdV_ymGpBM 6 2020 H1 Results Getlink
Slide 7: High Standard of Service Maintained During Covid-19 Crisis
KEY MESSAGES HIGH STANDARD OF SERVICE MAINTAINED DURING COVID-19 CRISIS Continued operations with minimal impact on customers during lockdown Truck Shuttle missions maintained: 78% in Q2 2020 (vs Q2 2019) vs ferries* 68% Eurostar* 9% airlines* 15% Committed staff Commercial flexibility * source: Get
Slide 8: Safety and Wellbeing of Staff and Customers
KEY MESSAGES SAFETY AND WELLBEING OF STAFF AND CUSTOMERS Safety & wellbeing To protect staff, customers and subcontractors’ health Truck Shuttle Reduced load factor Extra minibuses for truck drivers Plexiglass panels installed in club cars Committed staff Wellbeing for drivers: showers, food truck,
Slide 9: Focus on Limiting Cash Outflow
KEY MESSAGES FOCUS ON LIMITING CASH OUTFLOW Opex reduction -€16M Reduced services: 41% of Q2 2019 missions for Passenger Shuttle and 78% for Truck Shuttle Activité partielle and furlough (savings of €9M) Capex: focus on core maintenance and safety-related projects 9 2020 H1 Results Getlink
Slide 10: Eurotunnel Shuttle: Resilience of Traffic
KEY MESSAGES EUROTUNNEL SHUTTLE: RESILIENCE OF TRAFFIC Truck traffic -18% TRUCK VOLUMES (k) Strong resilience of essential goods and recovery of industry-related traffic since lockdown easing Car traffic -52% Solid performance in January and February CAR VOLUMES (k) Record bookings since end of June
Slide 11: Eurotunnel Shuttle: Yield Policy Unchanged
KEY MESSAGES EUROTUNNEL SHUTTLE: YIELD POLICY UNCHANGED Eurotunnel Shuttle Services yield increase 2015-H1 2020* Yield increase thanks to unchanged policy & positive impact of mix and late bookings +c.5.6% in H1 2020 vs. Eurozone inflation* +0.7% (CPI) vs. UK inflation* +1.3% (CPI) *At constant exch
Slide 12: Railway Network: No Surprise
KEY MESSAGES RAILWAY NETWORK: NO SURPRISE Eurostar passengers -62% EUROSTAR PASSENGERS (k) As airlines, very limited traffic in Q2 (-98%) Eurostar Amsterdam-London treaty signed Rail freight trains -27% NUMBER OF RAIL FREIGHT TRAINS 12 2020 H1 Results Getlink
Slide 13: Europorte: Still Positive EBITDA
KEY MESSAGES EUROPORTE: STILL POSITIVE EBITDA Revenue €58M EBITDA €10M Activité partielle put in place to adapt to shutdown of industrial facilities 13 2020 H1 Results Getlink
Slide 14: ElecLink: Positive Report from EPSF to Continue Installation Work
KEY MESSAGES ELECLINK: POSITIVE REPORT FROM EPSF* TO CONTINUE WITH INSTALLATION WORK Converter station Helix for cable pulling Positive report from EPSF* to continue with installation work ICG meetings postponed because of Covid-19 Full commercial service now expected to start in 2022 * EPSF: Établi
Slide 15: CSR: Stakeholder Mapping
KEY MESSAGES CSR: STAKEHOLDER MAPPING 15 2020 H1 Results Getlink
Slide 16: H1 2020 Financial Results
2 H1 2020 FINANCIAL RESULTS 16 2020 H1 Results Getlink
Slide 17: Eurotunnel in H1 2020: Focus on Staff and Customer Wellbeing
EUROTUNNEL IN H1 2020 FOCUS ON STAFF AND CUSTOMER WELLBEING Eurotunnel + Getlink P&L Increased €M H1 2020 Change H1 2019* yield for Passenger Revenue 311 -32% 457 and Truck Shuttles Shuttle Services 212 -29% 297 Quality of service maintained Railway Network 95 -38% 153 Capacity adjustment Other 4 -4
Slide 18: Europorte in H1 2020: Continued Focus on Operational Excellence
EUROPORTE IN H1 2020 CONTINUED FOCUS ON OPERATIONAL EXCELLENCE €M H1 2020 Change H1 2019 Key transporter for essential Revenue 58 -12% 66 goods Operating costs -48 -9% -53 Agile organisation last minute “ad-hoc” services EBITDA 10 -23% 13 18 2020 H1 Results Getlink
Slide 19: Getlink SE in H1 2020: Positive EBITDA
GETLINK SE IN H1 2020 POSITIVE EBITDA In €M H1 2020 Change H1 2019* Revenue 369 -29% 523 Operating costs -246 -8% -268 Consolidated EBITDA 123 -52% 255 income statement EBIT 31 nm 164 Net finance costs -116 nm -127 Net consolidated results -79 nm 41 * At H1 2020 exchange rate: £1 = €1.146 19 2020 H1
Slide 20: Strong Liquidity Maintained After Debt Service
GETLINK SE STRONG LIQUIDITY MAINTAINED AFTER DEBT SERVICE In €M H1 2020 Change H1 2019 Operating CF 172 -41% 291 Cash at 30th June CAPEX (ex. ElecLink) -38 -5% -41 €511M (vs €525M at 31st Dec 2019) Debt service (and other financials) -123 +2% -121 No additional debt required FCF * 11 nm 129 No issue
Slide 21: Getlink: Confidence in H2 if No Second Lockdown
GETLINK SE GETLINK: CONFIDENCE IN H2 IF NO SECOND LOCKDOWN FINANCIAL OBJECTIVES LONGER TERM New post Covid-19 2020 EBITDA FOR 2020 guidance* €350M Based on BoE and BdF latest economic growth assumption. Resilient truck traffic + good Passenger Shuttle summer bookings DIVIDEND EBITDA* IGC delay on El
Slide 22: Contacts
CONTACTS Jean Baptiste Michael ROUSSILLE SCHULLER co-Head of IR Corporate Finance Director 00 33 1 40 98 04 81 co-Head of IR 00 44 1303 288 719 jean-baptiste.roussille@getlinkgroup.com michael.schuller@getlinkgroup.com 22 2020 H1 Results Getlink