TelecityGroup delivers another year of strong growth and confirms a positive outlook for 2012.
Telecity Group plc ('TelecityGroup', 'the Group' or 'the Company'), Europe's industry-leading provider of premium carrier-neutral data centres, today announces its results for the year ended 31 December 2011.
- Revenue up 22.1% to £239.8m (2010: £196.4m)
- Adjusted(1) EBITDA(2) up 27.2% to £106.2m (2010: £83.4m)
- Adjusted(1) profit before tax up 26.3% to £67.0m (2010: £53.0m)
- Adjusted(1) diluted earnings per share up 11.1% to 24.1p (2010: 21.7p) despite the move to a full tax charge
- European growth platform significantly enhanced with capacity construction across Europe and the acquisitions of Data Electronics and UK Grid
- Total available customer power at the period end up to 68MW (2010: 58MW)
- Total announced(3) customer power up to 124MW (2010: 107MW)
- Maiden dividend to be paid following 2012 first half results
The above highlights are based on the Group's adjusted results. A full reconciliation between the adjusted and statutory results is contained in note 3. The statutory equivalents of the above results are as follows:
- Profit before tax of £59.4m (2010: £45.9m)
- Diluted earnings per share of 21.1p (2010: 19.0p)
- A reconciliation between the adjusted and unadjusted figures is contained in note 9.
Michael Tobin, TelecityGroup CEO, said:
"I am delighted with TelecityGroup's performance in 2011. The Group has delivered an excellent set of results.
We have also significantly enhanced the Group's future growth prospects, with investments being made in capacity across Europe and with the acquisitions of Data Electronics in Dublin and UK Grid in Manchester. These investments will help continue to drive TelecityGroup's demand driven growth in terms of scale and profitability as we increase our capacity from 68MW to 124MW in response to growing customer demand.
We have entered 2012 in a strong position, with a solid opening order book and pipeline of new opportunities from new and existing customers. Demand for premium data centre capacity is strong across all of our markets and I am confident that 2012 will be another strong year for TelecityGroup."
(1) Adjusted as set out in note 3.
(2) Earnings before interest, taxation, depreciation and amortisation.
(3) Total available customer power when all currently announced expansion projects are complete.
For further information please contact:
Investors: Matthew Springett +44 (0)20 7005 6337
Media: James Tyler +44 (0)20 7001 0076
Brunswick: Sarah West/James Olley +44 (0)20 7404 5959
Notes to Editors
Telecity Group plc
TelecityGroup is the leading provider of carrier-neutral data centres in Europe, operating highly connected facilities in key cities.
These data centres are the places in which separate networks that make up the internet meet and where bandwidth-intensive applications, content and information are hosted. As such, they are the key network hubs, or enabling environments, of the European digital economy. TelecityGroup's customers take advantage of the highly connected facilities to operate, store, share, distribute and access digital media, IT applications and information effectively and efficiently.
Telecity Group plc is listed on the London Stock Exchange (LSE: TCY).
The content of the Telecity Group plc web site should not be considered to form a part of or be incorporated into this announcement.
Cautionary note regarding forward-looking statements
This announcement includes statements that are forward-looking in nature. All statements other than statements of historical facts could be deemed to be forward-looking statements. By their nature, these forward-looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. Accordingly, the actual results, performance or achievements of the Company may be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, due to known and unknown risks, uncertainties and other factors. Except as required by the Listing Rules and applicable law, Telecity Group plc undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The Company's shares have not been registered in any U.S. jurisdiction, and, in particular, will not be registered under the U.S. Securities Act of 1933, as amended or any applicable state securities laws.