on GETLINK (EPA:GET)
Extended interruption for ElecLink: Getlink announces additional delays
Getlink has announced that the ElecLink electricity interconnector, linking France and Great Britain, will remain inactive until February 10, 2025. Initially suspended on September 25, the interconnector suffers from a structural weakness on the French side. A second problem, probably related, was detected during technical tests.
The repairs require a specific work plan including the replacement of a section of cable. This suspension could result in an estimated commercial loss of around €11 million by the end of 2024. For the first six weeks of 2025, the impact could reach €30 million.
Despite these challenges, the group's 2024 annual EBITDA targets remain unchanged. A conference call will be held for analysts and investors to discuss the financial implications.
R. H.
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