What's the impact of Brexit on Getlink's first half results?

[Dan Smith]

[Bryan Reynolds]

Getlink (EPA:GET), which operates the Channel Tunnel between England and France, announced lower-than-expected first half results today as it continues preparing for a hard Brexit.
The railway company said it expects a “no-deal” scenario, which will impact its 2019 annual results. The company is now predicting its 2019 EBITDA earnings to fall to 560 million euros (£503m) from 569 million euros in 2018.
“Clearly our scenario is the no-deal but we can cope. We remain confident we can manage the next stages of Brexit and confirm the dividend growth policy,” Getlink CEO Jacques Gounon told a conference call.
“We are cautious but not worried. Economic activity will continue to develop”, he added.
During the previous year, the company carried 26% of trade between Britain and the European Union. Although revenue rose 2% in the first half of the year, there are fears that a hard Brexit would slow business.