Getlink Se (GRPTF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. With us today, Jacques Gounod, Chairman of the Board, Yann Leriche, Chief Executive Officer, Géraldine, Chief Financial Officer, and Virginie Rousseau, Capital Markets Director. I hand over to Jacques. Thank you, Anne-Sophie. Good morning, ladies and gentlemen. It's always a pleasure to comment our 23 results, which is not too difficult today. You have seen that we are in line with the consensus. We are announcing an EBITDA which is close to 1 billion euros. So I think it's something which is at least historical results and exceptional results. This is, of course, and Jan will explain, Geraldine will explain. This is related to the very strong results we got from ElecLink. ElecLink, it is the first year where we have the full exercise, full results. Of course, we are still discovering this specific growing electricity market. And of course, we had strong benefit from the energy crisis. This will be commented later. What is important, of course, is that we have now a serious real pile of cash. And the best use of this cash, of course, is to serve dividends. And we will propose at the next AGM on the 7th of May an increase of 10% of the dividend up to 55 cents per share. I would like to apologize for the 23 guidance. which is, of course, 910 below both consensus and the results, 979 million euros, because we are always cautious. Once again, I repeat that it is the first year of full completion of the electronic operations, so we are cautious. We were very cautious. We are used to be very cautious, to be very conservative, and I think we are in the same mood for 24. Yann will comment the guidance, but we do prefer to announce something which is more reasonable due to the change in the electricity market, which is really the driver of the change w...