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Press Release -- February 10th, 2010
Source: Telecity Group
Tags: Earnings, Exchange

Telecity Group plc results for the year ended 31 December 2009

TelecityGroup delivers 27.3% growth in revenue, 58.1% growth in EBITDA and 107.7% growth in adjusted diluted earnings per share


Telecity Group plc (‘TelecityGroup’ or the ‘Group’), Europe’s industry leading provider of premium network independent data centres, today announces its audited results for the year ended 31 December 2009.

Highlights

  • Revenue up 27.3% to £169.4m (2008: £133.0m)
  • EBITDA up 58.1% to £63.9m (2008: £40.4m)
  • EBITDA margin up to 37.7% (2008: 30.4%)
  • Adjusted(1) profit after tax up by 108.9% to £32.0m (2008: £15.3m)
  • Adjusted diluted earnings per share up 107.7% to 16.2p (2008: 7.8p)
  • Cash flow from operating activities of £70.9m (2008: £45.9m) including strong working capital performance contribution of £8.1m (2008: £6.6m)
  • 13MW of additional capacity opened in the year across all countries resulting in year end capacity of 51MW
  • 6MW of additional capacity to be added in Frankfurt in response to customer demand, increasing total announced capacity to 67MW
  • New 5 year, £200m bank facility in place

Statutory equivalents

The above highlights are before foreign exchange gains on financing items and, in respect of the prior year, a net deferred tax credit. These variable items are not considered to be part of the underlying business of the Group. If these items are included, the following statutory equivalents to adjusted profit after tax and adjusted diluted earnings per share result:

  • Profit after tax up 37.1% to £34.7m (2008: £25.3m)
  • Basic diluted earnings per share up 36.4% to 17.6p (2008: 12.9p)

Michael Tobin, TelecityGroup CEO, said:
“2009 has been another outstanding year for TelecityGroup. The Group has delivered a strong set of results with an excellent performance in terms of growth in revenue, operating profit, earnings per share and cash flow from operations. We have also made very substantial investment in capacity right across our European markets to enable future growth and secured financing for a further round of demand driven investment. TelecityGroup has made a good start to 2010, with a healthy opening order book that is in line with our expectations. As such, I am confident that the Group should enjoy another strong year”

John Hughes, TelecityGroup Chairman, said:
“I am very pleased that TelecityGroup has entered into a new 5 year senior debt facility. This replaces its existing funding arrangements, which were due to expire in 2012. In addition to lengthening the term of its debt facilities, this new funding increases the Group’s financing capabilities by some £100m, enabling it to deliver incremental value-creating growth.”

For further information please contact:

TelecityGroup:
Investors:
Matthew Springett +44 (0)20 7005 6337

Media:
James Tyler +44 (0)20 7001 0076
Brunswick: Tom Buchanan / James Olley +44 (0)20 7404 5959

(1) Adjusted to exclude foreign exchange gains on financing items and, in respect of the prior year, a net deferred tax credit

Notes to Editors

Telecity Group plc TelecityGroup is Europe’s industry leading provider of premium network independent data centres offering a range of flexible, scalable data centre and managed services. TelecityGroup specialises in the design, build, and management of highly connected and secure environments in which customers can house their technical, web and internet infrastructure. Each of its data centres acts as a connectivity and content hub facilitating the storage, sharing and distribution of data, content and media. Headquartered in London, TelecityGroup operates 23 network-independent data centres across seven European countries. The data centres are located in prime positions for commerce and connectivity including London, Amsterdam, Frankfurt, Paris, Stockholm, Milan and Dublin.

Download the full results announcement (pdf)

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