Getlink (GET) Has Gained 57% Since Shedding the Eurotunnel Name, and Bigger Investors Are Circling

Rebranded from Groupe Eurotunnel in 2018, Getlink SE has grown into a €10bn infrastructure group attracting rival investors and targeting €1bn in annual EBITDA by 2030.

When Groupe Eurotunnel SE renamed itself Getlink SE in April 2018, it signalled more than a change of identity. Eight years on, the Paris-listed Channel Tunnel concession holder has evolved from a single-asset operator burdened by a troubled financial history into a diversified infrastructure group with a market capitalisation above €10bn, and two of Europe’s largest infrastructure investors competing to build stakes in it.

Shares in Getlink are trading at €18.31 on Wednesday morning, down 1.3% on the session, against a 52-week high of approximately €19.83 reached in April. The stock has gained roughly 57% since the month of the rebrand, when shares on Euronext Paris traded near €11.69.

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Earnings Reflect the Transformation

The group reported full-year 2025 EBITDA of €859 million, up 4% on 2024 and ahead of its own guidance range, on revenue of €1.595 billion, according to the company’s annual results announcement. Momentum has continued in 2026: first-quarter revenue came in at €371 million, up 15% year-on-year, with the ElecLink electricity interconnector the standout contributor. Chief Executive Yann Leriche said the result “reflects the very positive momentum across all of our businesses.” Shareholders approved a full-year 2025 dividend of €0.80 per share at the annual general meeting on 27 May 2026, paid on 5 June 2026, according to the company’s formal announcement.

Groupe Eurotunnel carried substantial debt from the construction and early operation of the Channel Tunnel and underwent major financial restructuring in the mid-2000s. The group subsequently refocused its listing on Euronext Paris and adopted the Getlink identity in April 2018, pursuing diversification beyond the tunnel. ElecLink, a one-gigawatt interconnector threading electricity cables through the tunnel between France and Great Britain, generated €225 million in revenue in 2025, according to the annual report. Rail freight subsidiary Europorte constitutes a third segment. Getlink targets €1 billion in consolidated EBITDA by 2030, a plan announced in February 2026.

Two of Europe’s largest infrastructure investors have taken notice. Eiffage, the French construction group, holds approximately 29.4% of Getlink’s capital, while Mundys, an Italian infrastructure group controlled by Edizione and backed by Blackstone, exercised its right in April 2026 to increase its stake to 25% of the share capital and 29.9% of the voting rights, according to a formal Mundys announcement. The average analyst price target stands at approximately €19.38, according to EODHD data, a modest premium to the current trading level.

Half-year 2026 results are scheduled for 23 July 2026. With the Channel Tunnel concession running until 2086 and €291 million in ElecLink capacity revenues already contracted for 2026, according to the company’s first-quarter announcement, Getlink’s earnings visibility stretches further than most listed European infrastructure operators. Whether its two large shareholders press for greater influence or the €1 billion EBITDA target arrives by 2030, the distance between today’s Getlink and its Eurotunnel predecessor is already substantial.