Slide 1: Annual Results
Annual Results 1 2019 Annual Results of Getlink
Slide 2: Summary
GETLINK SUMMARY KEY FINANCIAL MESSAGES RESULTS OUTLOOK 1 2 3 2 2019 Annual Results of Getlink
Slide 3: Key Messages
1 KEY MESSAGES 3 2019 Annual Results of Getlink
Slide 4: Focus on Shareholder Return: Share Price Outperformance
2019 Key messages FOCUS ON SHAREHOLDER RETURN: SHARE PRICE OUTPERFORMANCE Getlink vs GPR Getlink index(1) (30 Apr. 2018 - 25 Feb. 2020) Market capitalisation 160 at 25 February 2020: 155 €9 Bn (top 50 of Paris stock market) 150 145 140 Share performance 135 (30/04/2018 - 25/02/2020): 130 +45% (vs +1
Slide 5: Focus on Shareholder Return: Commitment to Growing Dividends
2019 Key messages FOCUS ON SHAREHOLDER RETURN: COMMITMENT TO GROWING DIVIDENDS €0.41 2019 dividend as planned: €0.41 per share(1), a 14% increase Robust long term commitment €0.36 Total amount distributed including share buy backs since 2008: €0.30 €1.4bn €0.26 €0.22 2.5% dividend yield €0.18 compar
Slide 6: Turning Brexit into an Opportunity (1/2)
2019 Key messages TURNING BREXIT INTO AN OPPORTUNITY (1/2) Brexit ready c.€35M spent in 2019 £33M DfT settlement Agile border Improve fluidity for trucks and passengers with new digital tools Enhancing the attractiveness of terminals with investment in customs facilities, pit stop, IT systems, parki
Slide 7: Turning Brexit into an Opportunity (2/2)
2019 Key messages TURNING BREXIT INTO AN OPPORTUNITY (2/2) 7 2019 Annual Results of Getlink
Slide 8: ElecLink: Safety Authority to Make its Decision in April 2020
2019 Key messages ELECLINK: SAFETY AUTHORITY TO MAKE ITS DECISION IN APRIL 2020 Converter station Helix for cable pulling CAPEX(1): €141M in 2019 and €582M to date On budget – prospects unchanged Favourable opinion from independent experts Commissioning planned in H1 2021 (1) Cash investments 8 2019
Slide 9: Strengthened Commitment to CSR Performance
2019 Key messages STRENGTHENED COMMITMENT TO CSR PERFORMANCE Governance and robustness of operations Optimisation dynamics Customer service Environment Communities and Social Governance Investment and Continuous efforts local development Confirmed performance Separation commitment to customer to red
Slide 10: A Unique Play on Green Transport
2019 Key messages A UNIQUE PLAY ON GREEN TRANSPORT Active in low-carbon mobility Getlink best prepared Getlink committed to fight 12,000 Le Shuttle customers used company Climate Change our charging stations in 2019 in transportation sector to Continuous reduction of CO2 emissions Fleet of 43 electr
Slide 11: 2019 Financial Results
2 2019 FINANCIAL RESULTS 11 2019 Annual Results of Getlink
Slide 12: Good Performance Against a Difficult Background
2019 Getlink Financial Results GOOD PERFORMANCE AGAINST A DIFFICULT BACKGROUND Stable Revenues(1): EBITDA(1): Growing: - Eurotunnel traffic very limited decline Net profit(1) (+20%) resilience and pricing (-2%) thanks to strong Dividend (+14%) power confirmed cost control (despite €18M impact of str
Slide 13: Net Profit Up 20%
2019 Getlink Financial Results NET PROFIT UP 20% In €M 2019 2018 Δ % 2019 vs 2018 (1) Revenue 1,085 1,084 +0% Operating costs (525) (512) +3% Operating margin (EBITDA) 560 572 -2% Operating profit (EBIT) 409 396 +3% Net finance costs (253) (265) -5% Net consolidated profit from continuing activities
Slide 14: Free Cash Flow
2019 Getlink Financial Results FREE CASH FLOW Free cash flow: €241M (o.w. €52M debt repayment) Cash flow from operations up 4,241 €25M 4200 4,078 (76) (187) 3900 (141) FCF(1) €241M 598 (105) 3600 (252) vs €252M in 2018 3300 +€25M 3978 4165 Brexit: c.€30M spent 3000 vs 2018 3732 3837 3480 3480 DfT se
Slide 15: Long-Dated Financing for the Group
2019 Getlink Financial Results LONG-DATED FINANCING FOR THE GROUP (1) In €M 2019 €550M Green Fixed interest rate Getlink SE Bond due 2023 Financial liabilities(1) (4,998) Long average duration Term Loan Inflation-linked tranches aligned Eurotunnel inflation-linked (2) Europorte ElecLink due 2019- 23
Slide 16: Financial Results Eurotunnel
2019 FINANCIAL RESULTS EUROTUNNEL 16 2019 Annual Results of Getlink
Slide 17: Solid Profits Despite Impact of Brexit and French Strikes
2019 Eurotunnel Financial Results SOLID PROFITS DESPITE IMPACT OF BREXIT AND FRENCH STRIKES 1 2 3 4 5 6 but Shuttle market Eurostar 3.0% yield Eurostar Cost Solid profits: hit by Brexit traffic and increase Amsterdam control EBITDA +1% ex and strike: Europorte hit 150bp service strike impact truck m
Slide 18: Shuttles: Long-Term Yield and Market Share Gains
2019 Eurotunnel Financial Results SHUTTLES: LONG-TERM YIELD AND MARKET SHARE GAINS Truck Car Eurotunnel Shuttle services Vital link Meeting customers yield increase 2015-2019 for the modern expectations: economy: speed, comfort, reliability, e-commerce, ease of use 120 Yield increase just-in-time lo
Slide 19: High-Speed Trains: Green Transport Serving Modern Travellers
2019 Eurotunnel Financial Results HIGH-SPEED TRAINS: GREEN TRANSPORT SERVING MODERN TRAVELLERS Eurostar passengers 2019: year of contrast (Number of Eurostar passengers (‘Ms) travelling through the Channel Tunnel) Strong commercial success of Amsterdam more than offsets negative 11,047 11 impact fro
Slide 20: Eurotunnel Revenue and EBITDA
2019 Eurotunnel Financial Results EUROTUNNEL REVENUE AND EBITDA Eurotunnel + Getlink segment P&L Stable revenue, €M 2019 Change 2018(1) thanks to yield increases for Passenger and Truck Shuttles Revenue 959 0% 963 and commercial success of Amsterdam service Shuttle Services 630 -2% 640 Railway N
Slide 21: Financial Results Europorte
2019 FINANCIAL RESULTS EUROPORTE 21 2019 Annual Results of Getlink
Slide 22: Good Performance with Positive Net Result
2019 Europorte Financial Results GOOD PERFORMANCE WITH POSITIVE NET RESULT Revenue +4% New traffic for existing clients €4M impact from December strike in France EBITDA €24M Net result €1M Profitable growth Restructuring of Fret SNCF Eco-friendly means of transport 22 2019 Annual Results of Getlink
Slide 23: Profitability Confirmed
2019 Europorte Financial Results PROFITABILITY CONFIRMED €M 2019 Change 2018 Revenue 126 +4% 121 Operating costs (102) +6% (96) EBITDA 24 -4% 25 Net profit 1 ns 1 23 2019 Annual Results of Getlink
Slide 24: Outlook
4 OUTLOOK 24 2019 Annual Results of Getlink
Slide 25: CSR Strategy Contributes to Positive Prospects
Outlook CSR STRATEGY CONTRIBUTES TO POSITIVE PROSPECTS Long-term growth potential Short term uncertainty Guidance EU Green Deal Coronavirus COVID-19: 2020: potential industrial output disruption and Cautious Eurostar-Thalys Green Speed project impact on international tourism HS2 2022: Global economi
Slide 26: Getlink: Confidence in Future Growth
Outlook GETLINK: CONFIDENCE IN FUTURE GROWTH FINANCIAL OBJECTIVES FOR 2020 2022 HORIZON INCL. ELECLINK EBITDA(1) EBITDA(1) €580M €735M+ DIVIDEND DIVIDEND €0.46 +€0.05 p.a. Including €5M cautious buffer on EBITDA for COVID-19 risk (1) At the exchange rate of £1: €1.14 and using current scope of conso
Slide 27: #VitalLink
#VitalLink 27 2019 Annual Results of Getlink
Slide 28: 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 28 2019 Annual Results of Getlink