Business Wire

euNetworks Performance Update for First Quarter 2017

Del

euNetworks, as a European bandwidth infrastructure provider, is focused on delivering scalable, fibre based products and solutions. We operate in a market where the key drivers of bandwidth growth are data centre to data centre connectivity and cloud connectivity and we continue to shape our network development to serve this.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170504005610/en/

Brady Rafuse (Photo: Business Wire)

Brady Rafuse (Photo: Business Wire)

euNetworks invested €14.2m of capital in Q1 2017, with almost half of this allocated to customer projects. As with prior quarters, capital for network development initiatives continued, with 35% of capital funding such projects. Q1 2017 network development included:

  • Building a new high density fibre network from Slough to Central London. This project commenced on 10 January, with this unique, secure and diverse route going live on 28 April. We now own and operate the shortest route between Slough and London, diverse to other operators in the market. We have installed a network with high fibre cable count and increased duct capacity. The route includes 180 access chambers, giving us the ability to break out at any location along the route for our customers. Slough has emerged as a key data centre hub, and the investment we have made in our network this quarter serves our customers as their bandwidth requirements continue to grow. It also supports our market leading euTrade ultra low latency proposition.
  • Investment in our German long haul network. We have developed more diverse route options for our customers across our Pan German long haul network, effectively adding more network rings to our infrastructure. With 7 fibre based city networks in Germany, this is an important market for the business. This long haul development is in line with our approach of delivering highly differentiated, unique and multi-route long haul options for our customers to connect between our metro cities.

Our performance in Q1 2017 was solid. Sales grew 4% from Q1 2016 and service installations were up 26%. This underpins revenue growth in the coming months. In Q1 2017, the percentage of sales that were new versus replacement sales – for example when customers upgrade their bandwidth requirements with us, were 69%, up from 67% in Q1 2016. Average churn was 0.6% in Q1 2017, improving from 0.7% in Q1 2016. Average debtor days reached an average 34 days outstanding in Q1 2017, slightly up from an average 32 days at 2016 exit.

Revenue grew 7% from Q1 2016, reaching €32.6m. Normalised adjusted EBITDA for Q1 2017 was €11.3, growing 14% from Q1 2016. Normalised adjusted EBITDA declined 3% from Q4 2016. Following high capital investment in Q4 2016, euNetworks grew the sales team by 14% in Q1 2017, contributing to this decline. The added resource will drive incremental adjusted EBITDA growth in 2H 2017.

“Q1 2017 was a solid quarter for the business, with some great new sales wins and a new benchmark in service installations performance,” said Brady Rafuse, Chief Executive Officer of euNetworks. “We continue to focus on three products – Fibre, Wavelengths and Ethernet – and we combine these into bandwidth solutions to meet specific customer needs, the most recent example of this being Private Connect. This new solution, developed in the quarter, offers a dedicated private network to customers, with fibre and DWDM equipment for their sole use. We have had strong customer success with Private Connect already and expect further success with this in the coming quarters. Overall we saw good growth across all of our segments in the quarter, with sales from both existing customers and new customers. In particular we saw good growth in connectivity sales to data centre operators and cloud platform providers.”

“Our network development projects continue to strengthen our points of differentiation in the market, both in the long haul and the metro,” said Rafuse. “We had some significant projects underway in the quarter, most notably the recently completed fibre build between London and Slough. This new network route is both diverse and unique, offering euNetworks a clear differentiation in the market with the shortest path. The rapid project delivery was impressive and we now own and operate a secure and scalable infrastructure that underpins the growth of commerce in the UK. Our German long haul network developments add further strength to our position in that market, with more route options available for our customers to get to various cities and data centres. We will continue with similar long haul and metro based projects through 2017, as we work closely with our customers to ensure we shape our network to what they need.”

“As I mentioned last quarter, in March we successfully upsized and simplified our debt facilities, increasing our debt capacity to €175m. The incremental available funding allows us flexibility to pursue incremental growth projects. The team are actively assessing opportunities and we will provide more details on these as appropriate in the coming quarters.”

                                                                                 
€m      

Q4
2015

     

Q1
2016

     

Q2
2016

     

Q3
2016

     

Q4
2016

     

Q1
2017

             

12 mths -
31/3/2016

     

12 mths -
31/3/2017

      %
                                                             
Total Revenue 30.6 30.6 32.2 31.8 32.3 32.6 120.0 128.9 7.4
Recurring Revenue 30.6 30.6 32.2 31.8 32.3 32.6 120.0 128.9 7.4
Adjusted EBITDA 9.9 9.8 10.7 10.8 10.6 10.7 36.0 42.8 19.0

Normalised Adjusted
EBITDA

9.8 9.9 11.1 11.0 11.7 11.3 37.4 45.1 20.6

LQA Normalised
Adjusted EBITDA exit

39.3 39.5 44.2 44.2 46.7 45.2 39.5 45.2 14.3
Capital Expenditure 10.9 11.5 16.1 11.9 16.5 14.2 43.5 58.6 34.9
Proxy Cash flow       (1.0)       (1.7)       (5.6)       (1.1)       (5.9)       (3.5)               (7.5)       (15.8)       n/a

About euNetworks

euNetworks is a bandwidth infrastructure provider, owning and operating 14 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 48 cities in 13 countries. The company leads the market in data centre connectivity, directly connecting over 300 in Europe today. euNetworks is also a leading cloud connectivity provider, directly connecting 13 cloud platforms with access to a further 7. The company offers a portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.

euNetworks Group Limited is headquartered in London. For further information please visit www.eunetworks.com.

To view the euNetworks map go to http://map.eunetworks.com/.

Contact information

euNetworks
Hannah Fox
Senior Director Marketing
hannah.fox@eunetworks.com email
hannah_britt skype
+44 20 7952 1338 office
+44 7717 896 446 mobile

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Takeda and TiGenix announce that Cx601 (darvadstrocel) has received a positive CHMP opinion to treat complex perianal fistulas in Crohn’s disease15.12.2017 12:34Pressemelding

Takeda Pharmaceutical Company Limited (TSE: 4502) (“Takeda”) and TiGenix NV (Euronext Brussels and NASDAQ: TIG) (“TiGenix”) today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA), in conjunction with the Committee for Advanced Therapies (CAT), has adopted a positive opinion recommending a marketing authorization (MA) for investigational compound Cx601 (darvadstrocel). Cx601 is expected to be indicated for the treatment of complex perianal fistulas in adult patients with non-active/mildly active luminal Crohn’s disease, when fistulas have shown an inadequate response to at least one conventional or biologic therapy.2 This recommendation marks the first allogeneic stem cell therapy to receive a positive CHMP opinion in Europe. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/201712

Bitcoin Romania and Twispay Announce Integration Partnership Providing Users with the Ability to Purchase Bitcoin with Bank Cards15.12.2017 12:21Pressemelding

Bitcoin Romania, leading Eastern European Bitcoin exchange & brokerage firm, and Twispay, Swiss-owned European payment processor and FinTech pioneer, today announced the availability of a payment integration that allows a global clientele to acquire Bitcoin and Ethereum cryptocurrencies using Visa and Mastercard bank cards. Unprecedented in Romania, this is one of the first East-Central European integration partnerships that allow consumers to use their cards to purchase cryptocurrency. Until recently, investors could only acquire cryptocurrencies through bank transfers and cash deposits, but the volatility of cryptocurrency markets dictates the need for additional operational flexibility. Investors require faster, safer, more reliable, and more comfortable ways to complete purchases. “One minute can make the difference between a million lost and a million earned. That is pr

Upon Conclusion of the Fourth Annual Forum for Promoting Peace in Muslim Societies, Scholars and Intellectuals Visit the Louvre Abu Dhabi Museum15.12.2017 11:38Pressemelding

A high-level delegation of dignitaries, scholars and intellectuals participating in the fourth annual Forum for Promoting Peace in Muslim Societies, visited the Louvre Abu Dhabi museum. The delegation was headed by H.E Mustafa Ceric, former Grand Mufti of Bosnia; alongside Sheikh Mohammad Mukhtar Ould Imbala, Head of Mauritania’s Fatwa & Grievances Supreme Council; H.E Amar Mirghani Hussein, Sudanese Minister of (religious) Guidance and Endowments; and H.E Salho Jay, Imam of the Juma Masjid in South Africa. The Forum was held in Abu Dhabi from 11-13 December 2017, with the participation of more than 700 scholars, intellectuals and religious dignitaries from around the world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171215005255/en/ Group Photo of the Scholars and Intellectuals during their visit to the L

Kennedy Wilson Acquires 124-Unit Northbank Apartments in Dublin, Ireland for €45 Million15.12.2017 11:00Pressemelding

Global real estate investment company Kennedy Wilson (NYSE: KW) announces that it has acquired Northbank Apartments, a wholly-owned 124-unit apartment community in Dublin’s North Docks, for €45 million from Jarmar Properties Limited (In Receivership) acting through David Carson of Deloitte as Statutory Receiver, the lender being the National Asset Management Agency (“NAMA”). Situated in Dublin’s North Docks, Northbank is located just 50 meters from Kennedy Wilson’s existing 84-unit Liffey Trust apartments. The two buildings benefit from great transport links as the LUAS Red line is immediately adjacent connecting to Dublin’s city centre and main train stations in five minutes. “The successful acquisition of Northbank in such close proximity to our Liffey Trust asset allows us to leverage our existing presence and implement our value-add asset management strategy, including a

AML BitCoin Enters Phase II of ICO15.12.2017 09:00Pressemelding

NAC Foundation, LLC announces today that the initial coin offering for the AML BitCoin – the world’s only patent-pending compliant digital currency – has been extended for another month to accommodate a torrent of last minute, new coin purchasers and the demands of thousands of current owners of the coin, who have had difficulty navigating the process of establishing the specialized wallet required to hold the innovative digital currency. This second phase of the AML BitCoin initial coin offering will see an increase in the price of the coin, from US $1.00 to US $1.25. The company has already been contacted by prospective purchasers in the slightly higher priced Phase II, and anticipates a further price increase to US $1.50 within a week or two. HitBTC, one of the world’s largest and most active digital currency exchanges, was prepared to list the AML BitCoin for trading on

Joensuu City Challenge – International Competition for Innovative SMEs Opened15.12.2017 08:24Pressemelding

City of Joensuu, Finland, has announced an international competition in which 200,000 euros will be used for innovative pilot projects in the city centre. Joensuu has defined four city platforms on which companies or other interested organizations are invited to present innovative proposals. The winning proposals will be implemented as pilot projects in Joensuu. The deadline for the proposals is 18th March 2018. The implementation phase of the proposals should be carried out by May 2019. Competition information is provided in English, and proposals can be made in English and Finnish. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171215005170/en/ Joensuu City Challenge - International Competition for Innovative SMEs Opened (Photo: Business Wire) The four challenges for which solutions are sought are v

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom