euNetworks Performance Update for Second Quarter 2017
euNetworks is a European facilities based horizontally integrated bandwidth infrastructure provider that sells focus products to target customers. Our key drivers of bandwidth growth are data centre and cloud connectivity.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170803005655/en/
Q2 2017 performance update (Photo: Business Wire)
In the second quarter euNetworks continued its strong growth trajectory. Total revenue grew 5% from Q2 2016 reaching €33.8m, with recurring revenue from the focus products of Fibre, Wavelengths and Ethernet up 11% from Q2 2016, despite adverse currency impact. Adjusted EBITDA grew 17% from Q2 2016.
Capital investment in Q2 2017 was €16.9m, up 5% from Q2 2016. The majority of capital invested in the quarter was allocated to specific customer projects. We commenced a number of new investment initiatives to expand our addressable market, with these metro and long haul projects due to be available for service in Q3 and Q4 2017. We also completed some key investment projects:
- The new build of a high fibre count network from Slough to Central London went live on the 28 April. This unique route is the shortest route between Slough and London, offering the lowest latency access to key exchanges via our euTrade service. It is also fully diverse from traditional routes available in the market. Slough is an important data centre hub for our customers in addition to being a key trading location for financial services organisations.
- Investment in our German long haul network, delivering highly differentiated, unique and multi-route 100G long haul options for our customers to connect between our metro cities. Additional development phases to our Pan German footprint are currently underway following the completion of work in 1H 2017.
- Manchester fibre metro build and the roll out of DC Connect in Manchester is near completion. This brings our operating metro count to 14 across Europe, with 7 of these cities enabled with DC Connect.
euNetworks delivered solid sales performance in 1H 2017 and Q2 2017. The new network service capabilities along with the additional sales resource added in Q1 2017, offers further sales growth opportunity in 2H 2017. Following high service installations in Q1 2017, service installations increased 9% quarter on quarter and 7% from Q2 2016. Disconnections were higher in the quarter due to a known and long time planned move by a customer, transitioning services out of our Amsterdam data centre and into their own. Average churn was subsequently 1.4% in Q2 2017, higher than 1.1% in Q2 2016 and up from last quarter.
Normalised adjusted EBITDA was up 9% from Q2 2016 and up 7% from Q1 2017, reaching €12.1m. Normalised adjusted EBITDA in the quarter was €0.4m lower than adjusted EBITDA due to some debt recovery activity in the business.
“The performance of the business remained strong through Q2 2017, with the completion of important network development projects and solid growth in revenue and adjusted EBITDA,” said Brady Rafuse, Chief Executive Officer of euNetworks. “Our core business focus is on three products for our customers – Fibre, Wavelengths and Ethernet – and we combine these into bandwidth solutions to meet specific customer needs. These focus products account for a high proportion of our new sales each month and recurring revenue growth across these products was 11% from Q2 2016.”
“We continue to focus on making sure we have the leanest production system possible, driving for zero defects. That enables us to offer fast and flexible service delivery and provisioning, being agile for our customers. We’re delivering on-net services to our customers in less than 30 days, unless they prefer to have a longer set delivery date. We’re focused on consistently over-delivering for our customers as we strive to be the category owner for bandwidth infrastructure services in Western Europe.”
“Customers are looking for bandwidth providers who can offer high capacity routes, delivering them the resiliency that they need. This may require as many as 5 fully diverse routes between two points in order to achieve that,” said Rafuse. “The network development projects we have undertaken to date are delivering that level of diversity, right across our European footprint. euNetworks has demonstrated an ability to respond quickly and creatively, both commercially and technically, to meet customers’ needs. With additional network development projects underway for specific customers, that will continue in 2H 2017. We also have some opportunistic network developments where we have a high degree of confidence we will gain good return from the investment. We remain focused on our product set, maintaining our lean production system, developing our network in ways that create value for our business and our customers, and continuing to grow the business.”
|€m||Q1 2016||Q2 2016||Q3 2016||Q4 2016||Q1 2017||Q2 2017||12 mths -||12 mths -||%|
|LQA Normalised Adjusted||39.5||44.2||44.2||46.7||45.2||48.4||44.2||48.4||9.5|
|Proxy Cash flow||(1.7)||(5.6)||(1.1)||(5.9)||(3.5)||(4.4)||(11.2)||(14.9)||n/a|
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/.
euNetworks Investor and Press Contact:
Senior Director Marketing
+44 20 7952 1338 office
+44 7717 896 446 mobile
Om Business Wire
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
Timor Telecom Enhances International Voice Connections in Timor-Leste Through SES Networks18.12.2017 07:55 | Pressemelding
Timor Telecom (TT), the largest telecommunications operator in Timor-Leste, has expanded its partnership with SES Networks to enable international voice traffic between Timor-Leste and the rest of the world, SES announced today. Under the new agreement, TT will contract capacity on the high-powered NSS-12 geostationary earth orbit (GEO) satellite to establish a point-to-point link connecting Dili, Timor with Sintra, Portugal. Today, residents of Timor-Leste benefit from high speed 4G/LTE mobile data and broadband services provided by TT, which are powered by SES’s O3b medium earth orbit (MEO) satellite network. With its capacity uptake on NSS-12, TT will broaden its suite of services with the carriage of international voice traffic between Timor-Leste and the rest of the world. This enables TT to continue empowering local communities with superior services and to meet all th
Steeper Energy Announces EUR 50.6 M (DKK 377 M) Advanced Biofuel Project with Norwegian-Swedish joint venture Silva Green Fuel in Licensing Deal18.12.2017 07:00 | Pressemelding
Steeper Energy, a Danish-Canadian clean-fuel company, is partnering with Silva Green Fuel, a Norwegian-Swedish joint venture, to construct a EUR 50.6 M (DKK 377M) industrial scale demonstration plant at a former pulp mill located in Tofte, Norway leading to a future commercial scale project. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171217005029/en/ Steeper will license its proprietary Hydrofaction™ technology to Silva, who will build the facility over the next 18 months. The demonstration plant will use woody residues as feedstock that are converted to renewable crude oil and, in turn, will be upgraded to renewable diesel, jet or marine fuel. Steeper’s Hydrofaction™ technology was selected by Silva after an exhaustive due diligence review of some 40 other technologies. Hydrofaction™ harnesses water
Yokogawa Develops N-IO Standard Field Enclosure and Control System Virtualization Platform18.12.2017 02:00 | Pressemelding
Yokogawa Electric Corporation (TOKYO:6841) announces that it has developed an N-IO standard field enclosure and a control system virtualization platform. The enclosure is a weatherproof remote IO cabinet that stores IO devices used by the CENTUM(R) VP integrated production control system and the ProSafe(R)-RS safety instrumented system, and the virtualization platform enables the control of multiple virtual devices on a single server. By reducing the amount of time and effort to engineer a new system, these solutions help to both speed up project execution and reduce total cost of ownership (TCO). The N-IO standard field enclosure is scheduled to be released in February 2018, and the virtualization platform will be released in May 2018. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171217005010/en/ N-I
Celltrion Receives Positive CHMP Opinion for Herzuma® for Trastuzumab Biosimilar15.12.2017 22:13 | Pressemelding
Celltrion, Inc. (KOSDAQ: 068270) announced today that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) issued a positive opinion recommending that Herzuma® (trastuzumab biosimilar) be granted marketing authorization in the European Union (EU) for the treatment of patients with early breast cancer, metastatic breast cancer, or metastatic gastric cancer whose tumors have either HER2 overexpression or HER2 gene amplification. The CHMP’s opinion will now be sent to the European Commission (EC) for final review. Herzuma® is a biosimilar to Herceptin®i, a breast cancer and gastric cancer treatment antibody biologic drug developed by Genentech and marketed by Roche. Herceptin® is a blockbuster drug which had worldwide sales of CHF 6.8 billionii (US$6.8 billion) in 2016, of which CHF 2.1 billioniii (US$2.1 billion) was in
Takeda and TiGenix announce that Cx601 (darvadstrocel) has received a positive CHMP opinion to treat complex perianal fistulas in Crohn’s disease15.12.2017 12:34 | Pressemelding
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 12:21 | Pressemelding
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
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom