TelecityGroup delivers strong growth and confirms a positive outlook
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 six months ended 30 June 2012
- Revenue up 22.4% to £137.3m (H1 2011: £112.2m), with currency neutral growth of 25.6%
- EBITDA(1) up 26.6% to £62.6m (H1 2011: £49.4m), with currency neutral growth of 30.4%
- EBITDA margin up by 150 bps to 45.6% (H1 2011: 44.1%)
- Adjusted(2) diluted earnings per share up 36.2% to 15.8p (H1 2011: 11.6p) with currency neutral growth of 41.1%
- Available customer power up to 76MW (H1 2011: 59MW)
- Announced(3) customer power up to 124MW (H1 2011: 112MW)
- Available and announced power up to 80MW and 130MW respectively since the period end
- Maiden interim dividend of 2.5p per share declared
- New market position established in Helsinki through the acquisition of Tenue in August 2012 (note 16)
The above highlights are based on the Group’s adjusted results. A full reconciliation between the adjusted and statutory results is contained in note 5. Where different, the statutory equivalents of the above results are as follows:
- Operating profit £43.4m (H1 2011: £33.5m)
- Diluted earnings per share of 15.1p (H1 2011: 12.6p)
Michael Tobin, TelecityGroup CEO, said:
“I am again delighted with TelecityGroup’s performance. Once more the Group has delivered excellent results and we have enhanced our growth platform with new capacity openings across Europe and continued to secure further capacity in response to customer demand to underpin longer-term growth.
I am particularly pleased to announce our entry into the Finnish market through the acquisition of Tenue. This expands our European growth platform and allows us to serve the growing demand generated from the Helsinki internet hub. It is testament to the strength of TelecityGroup’s business model that we are able to expand the Group’s growth horizon while at the same time commencing a progressive dividend policy.
Demand for premium data centres remains strong in all of our markets and I am confident that 2012 will continue to be another strong year for TelecityGroup.”
Download the full results announcement (pdf)
(1) Earnings before interest, taxation, depreciation and amortisation (note 5). There are no adjusting items to EBITDA in either the current or prior period.
(2) Adjusted to exclude intangible assets amortisation and other financing items (note 5).
(3) Total available customer power when all currently announced expansion projects are complete.
For further information please contact:
Matthew Springett +44 (0)20 7005 6337
James Tyler +44 (0)20 7001 0076
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 website 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.