Getlink SE (Eurotunnel) stock (FR0010533075): traffic growth and energy unit underpin latest results

Getlink SE, operator of the Channel Tunnel between France and the UK, reported higher revenue in its latest quarterly update, supported by Eurotunnel traffic and its ElecLink power interconnector, while the Paris?listed stock continues to attract attention from international and US investors.

Getlink SE, better known for operating the Channel Tunnel between France and the United Kingdom, recently reported higher revenue in its latest quarterly update, supported by solid Eurotunnel traffic and growth in its ElecLink electricity interconnector, according to a trading update published on 04/18/2025 on the company’s website and summarized by Reuters as of 04/18/2025.

As of: 05/22/2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Getlink
• Sector/industry: Transport infrastructure and energy interconnection
• Headquarters/country: Paris region, France
• Core markets: Cross?Channel transport between the UK and continental Europe, power transmission
• Key revenue drivers: Eurotunnel shuttle services, rail access fees, ElecLink interconnector
• Home exchange/listing venue: Euronext Paris (ticker: GET)
• Trading currency: Euro (EUR)

Getlink SE (Eurotunnel): core business model

Getlink SE is the owner and operator of the Channel Tunnel, the fixed rail link connecting Folkestone in the United Kingdom with Coquelles in France. The tunnel carries passenger and freight traffic via shuttle services and provides access for third?party passenger and freight trains between the two countries, according to the company’s profile on its website as of 04/18/2025.

The group’s activities are structured around several main divisions. The Eurotunnel segment operates shuttle trains that carry passenger cars, coaches and trucks through the tunnel, while also levying access charges on passenger train operators such as Eurostar and freight rail companies. These activities make up a significant share of group revenue in published annual reports for 2024, according to Getlink’s universal registration document released on 03/21/2025 on its investor relations site.

Beyond pure transport, Getlink has diversified into energy infrastructure via ElecLink, a high?voltage direct current (HVDC) interconnector that runs through the Channel Tunnel. ElecLink allows electricity trading between the French and British grids and became fully operational in 2022, representing a strategic growth driver for the group, as outlined in the company’s 2024 annual results presentation dated 02/22/2025 on its website.

Another smaller division, Europorte, is involved in rail freight and logistics services on the French network and at industrial sites. A digital and services arm also supports operations with technology and customer?facing platforms. Overall, the mix of regulated infrastructure, transport operations and energy interconnection gives the company multiple revenue streams across different economic cycles, according to Getlink’s corporate overview published on 02/22/2025.

Main revenue and product drivers for Getlink SE (Eurotunnel)

Eurotunnel shuttle services remain the main revenue engine. The company generates income from vehicle shuttles that transport passenger cars and trucks, with pricing based on demand, time of travel and vehicle type. After pandemic?related disruptions, traffic levels for both passenger and freight services improved significantly in 2023 and 2024, supporting revenue growth, according to Getlink’s 2024 annual results released on 02/22/2025 on its investor relations site.

Railway network access charges paid by passenger operators such as Eurostar, and by freight rail companies, provide another large and relatively stable revenue stream. These charges are linked to train paths and volumes using the tunnel. As international rail traffic recovered and new operators explored cross?Channel routes, this access?fee business benefited from higher train frequencies, according to the same 2024 results presentation dated 02/22/2025.

ElecLink, the electricity interconnector, has quickly become a key contributor. By enabling power trading between the UK and France, it earns revenue from capacity auctions and congestion rents, which depend on price differentials between the two markets. In the first quarter of 2025, ElecLink revenue increased compared with the prior?year period, reflecting active cross?border electricity flows, according to the Q1 2025 trading update published by Getlink on 04/18/2025 and reported by Reuters as of 04/18/2025.

For US investors, an additional feature is the company’s sensitivity to exchange rates and cross?border trade conditions between the UK and the European Union. Sterling and euro movements can affect reported results and competitiveness for freight customers, while regulatory arrangements governing the border and customs procedures can influence demand for tunnel services. These dynamics have been highlighted in management commentary in the 2024 annual report, according to the universal registration document filed on 03/21/2025.

Industry trends and competitive position

Getlink operates in the broader European transport infrastructure sector, where demand is influenced by trade flows, tourism, and environmental policies favoring rail over road and air. European regulators and national governments have promoted modal shift to lower?emission transport modes, which supports rail and combined transport concepts, according to European Commission transport policy publications as of 2024.

Within cross?Channel transport, the company competes indirectly with ferry operators and airlines that link the UK with continental Europe. The tunnel offers a fixed?link alternative that can be attractive for time?sensitive freight and for travelers seeking to use their own vehicles. Its ability to offer high?frequency shuttle services and integration with major motorway networks on both sides of the Channel are central to its competitive positioning, as described in Getlink’s 2024 results presentation dated 02/22/2025.

The ElecLink interconnector places Getlink in a niche energy infrastructure segment as well. Cross?border power links are increasingly important for integrating renewable energy, balancing grids, and enhancing security of supply. As more intermittent wind and solar generation comes on line in Europe and the UK, interconnectors can capture value from price spreads between markets. This trend has been highlighted by European energy regulators and grid operators in public reports during 2023 and 2024.

Why Getlink SE (Eurotunnel) matters for US investors

Although Getlink is listed on Euronext Paris and reports in euros, the group’s activities are closely connected to the UK and European economies, which are major trading partners for the United States. US investors looking at international infrastructure and transport exposure may see the stock as a way to gain indirect participation in European trade flows, passenger mobility trends, and energy market integration.

In addition, the company’s ElecLink business exposes shareholders to the European electricity market and the ongoing energy transition. For US?based portfolios focused on global infrastructure or utilities, this combination of transport and energy assets within a single listed entity can provide diversification alongside domestic US holdings. Liquidity is centered on Paris, but the shares are also accessible to international investors through global trading platforms that connect to Euronext.

The company is followed by European brokerages and occasionally appears in broader infrastructure and transport indices. For US investors monitoring foreign exchange risk, movements in the euro versus the US dollar, and developments in UK?EU trade relations, remain important variables that can influence reported earnings and investor sentiment toward the stock.

Conclusion

Getlink SE has evolved from a pure Channel Tunnel operator into a diversified infrastructure group with exposure to cross?Channel transport and European power markets. Recent quarterly figures showed higher revenue, supported by resilient Eurotunnel traffic and growing contributions from the ElecLink interconnector, according to the Q1 2025 trading update released on 04/18/2025. For US investors, the stock offers access to European transport and energy infrastructure, but it is also influenced by currency movements and regulatory developments in the UK?EU corridor. As with any equity, prospective investors may wish to weigh these structural drivers and risks alongside their own portfolio objectives and risk tolerance.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.