Getlink: stock down after its 'Brexit warning'
(CercleFinance.com) - The Getlink shares is down around 1% in a Paris market that is up 0.
5%, after the group's reduction in its forecasts because of Brexit.
Indeed, the operator of the Channel Tunnel now believes that the prospect of the UK leaving the European Union without a deal on 31 October is "very likely": "the benchmark target for 2019 is that of "no-deal". As a result, in 2019 the group is now only expecting the the lower end of its EBITDA range announced at the start of 2019, i.e. 560 million euros, while the top of the range is 575 million euros.
However, Eurotunnel intends to pay a dividend of 0.41 euro for FY 2019, up 13.9% from the 0.36 euro paid for 2018. Finally, the group has maintained its forecasts through to 2022, which include EBITDA of 735 million euros and a 5-cent increase in its annual dividend.
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