Getlink SE reported mixed traffic metrics for March, with freight shuttle volumes slipping and passenger shuttle activity posting a solid rebound. According to the company's reported figures, truck shuttle volumes declined 0.9% year-over-year in March, while passenger shuttle traffic increased 8.0% compared with the same month a year earlier.
The truck shuttle result represented a slight improvement from February, when truck volumes fell 1.2%. Passenger shuttle traffic reversed course from February as well, recovering from a 6.1% decrease in that month. The company said the timing of Easter continued to influence month-to-month comparisons, affecting growth patterns across March and into April.
On market terms, Getlink shares were trading at €19.83. The share price was described relative to a stated price target of €16.50. The report noted that higher fuel prices and volatility in energy markets have provided near-term support for the tunnel operator's business. In addition, a recent increase in stakes held by key shareholders was cited as another factor underpinning the stock price.
Observers tracking the operator's traffic mix will note the modest narrowing of the truck shuttle decline from February to March and the notable rebound in passenger shuttle usage over the same period last year. The company explicitly linked part of the variability in monthly traffic comparisons to the calendar timing of Easter, which can shift travel demand between March and April.
Summary of the month’s indicators:
- Truck shuttle volumes: -0.9% year-over-year in March (improved from -1.2% in February)
- Passenger shuttle traffic: +8.0% year-over-year in March (rebounded from -6.1% in February)
- Share trading level: €19.83; referenced price target: €16.50
- Reported near-term supports: higher fuel prices, volatile energy markets, and increased stakes by key shareholders
Getlink's March figures underscore the sensitivity of short-term traffic comparisons to calendar effects while also highlighting market factors that can influence investor sentiment in the near term.