Getlink: Technical interruption of ElecLink operations
(CercleFinance.com) - The group reminds that a malfunction of the electrical interconnector between France and Great Britain has led to the suspension of its activity since 25 September.
This malfunction was caused by a weakness in the cable support structure outside the Tunnel in France.
Technical tests prior to re-energizing the interconnector have revealed a second malfunction in the nearby zone, most probably linked to the first.
The repair will require an ad hoc work plan, including cutting the cable, replacing it and making a new joint. Consequently, the extension of the suspension of activity of the interconnector is estimated at 8 weeks, the group said.
Subject to the completion of the test program, the interconnector is expected to return to service on 10 February 2025.
The suspension of activity until 31 December 2024 will have an additional commercial impact estimated at around E11m.
The impact of the suspension of activity during the first 6 weeks of 2025 is estimated at around E30m.
The range set for the group's 2024 EBITDA target remains unchanged.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
This malfunction was caused by a weakness in the cable support structure outside the Tunnel in France.
Technical tests prior to re-energizing the interconnector have revealed a second malfunction in the nearby zone, most probably linked to the first.
The repair will require an ad hoc work plan, including cutting the cable, replacing it and making a new joint. Consequently, the extension of the suspension of activity of the interconnector is estimated at 8 weeks, the group said.
Subject to the completion of the test program, the interconnector is expected to return to service on 10 February 2025.
The suspension of activity until 31 December 2024 will have an additional commercial impact estimated at around E11m.
The impact of the suspension of activity during the first 6 weeks of 2025 is estimated at around E30m.
The range set for the group's 2024 EBITDA target remains unchanged.
Copyright (c) 2024 CercleFinance.com. All rights reserved.