Business Wire

euNetworks Performance Update for Second Quarter 2017

Del

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)

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 -   %
                                30/6/2016   30/6/2017      
 
Total Revenue 30.6 32.2 31.8 32.3 32.6 33.8 123.1 130.5 6.1
Recurring Revenue 30.6 32.2 31.8 32.3 32.6 33.8 123.1 130.5 6.1
Adjusted EBITDA 9.8 10.7 10.8 10.6 10.7 12.5 38.5 44.6 15.9
Normalised Adjusted 9.9 11.1 11.0 11.7 11.3 12.1 39.7 46.1 16.3
EBITDA
LQA Normalised Adjusted 39.5 44.2 44.2 46.7 45.2 48.4 44.2 48.4 9.5
EBITDA exit
Capital Expenditure 11.5 16.1 11.9 16.5 14.2 16.9 49.7 59.5 19.8
Proxy Cash flow   (1.7)   (5.6)   (1.1)   (5.9)   (3.5)   (4.4)       (11.2)   (14.9)   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 Investor and Press Contact:
Hannah Fox
Senior Director Marketing
hannah.fox@eunetworks.com
+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

(c) 2018 Business Wire, Inc., All rights reserved.

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

Pierre Fabre & Array BioPharma Announce a 62% Observed OS at One Year from the Phase 3 BEACON CRC Safety Lead-In of the Combination of Encorafenib, Binimetinib and Cetuximab in BRAF-Mutant CRC at the ESMO GI Congress23.6.2018 11:00Pressemelding

Not intended for UK- and US-based media Pierre Fabre and its partner Array BioPharma Inc. today announced updated safety and efficacy results, including OS, from the safety lead-in of the Phase 3 BEACON CRC trial evaluating the triplet combination of encorafenib, a BRAF inhibitor, binimetinib, a MEK inhibitor and cetuximab, an anti-EGFR antibody, in patients with BRAF V600E -mutant metastatic colorectal cancer (CRC). The results showed that, at the time of analysis, the OS data were fully mature through 12.6 months and that the median OS had not yet been reached. The one-year overall survival rate for this cohort was 62%. These data were presented in an oral presentation on Saturday, June 23, at the ESMO 20th World Congress on Gastrointestinal Cancer in Barcelona, Spain. The median progression-free survival (mPFS) for patients treated with the triplet was 8 months [95% CI 5.6-9.3] and is similar between patients receiving one prior line of therapy and patients receiving two prior lines

Compelling Data for LONSURF® (trifluridine/tipiracil) in Metastatic Colorectal Cancer Presented at ESMO’s World Congress on Gastrointestinal Cancer by Servier and Taiho23.6.2018 08:10Pressemelding

Servier and Taiho Pharmaceutical Co., Ltd. today announced that the TASCO-1 trial demonstrated promising results for LONSURF® (trifluridine/tipiracil) in combination with bevacizumab in patients with previously untreated metastatic colorectal cancer (mCRC) who are not suitable for intensive treatment, with a median progression-free survival (PFS) of 9.2 months (ranging from 7.6 to 11.5 months). A second non-comparative arm in the trial, evaluated the outcome of patients treated with the current standard of care of capecitabine in combination with bevacizumab. The median PFS of this arm was 7.8 months (ranging from 5.5 to 10.1 months). “Colorectal cancer is the third most common cancer in the world. While there has been some progress in treatment, there are still few options for patients with metastatic disease who are not suitable for intensive treatment,” said Professor Eric Van Cutsem, Head of Digestive Oncology at the University of Leuven, Belgium. “These compelling results suggest

Softomotive and Accelerate RPA Partner to Help Enterprises Achieve Faster Time to Value from RPA22.6.2018 15:13Pressemelding

Softomotive, a world–class Robotic Process Automation (RPA) technology provider offering best time to value and affordability for all sizes and types of enterprises, is pleased to announce a strategic partnership with AccelerateRPA, a high calibre professional services provider of trained and certified RPA Consultants within Robotic Process Automation. This partnership means that customers and end users of Softomotive’s software, will have additional knowledgeable and professional guidance available to help achieve significant value quickly from their investment in RPA. Companies who are looking to implement Softomotive’s RPA product suite (WinAutomation and ProcessRobot software) will now have direct access to AccelerateRPA’s highly skilled consultants and Developers. Further, AccelerateRPA has also become a licensed reseller of Softomotive’s products, offering customers a single point of contact for delivering both RPA software and services. Ashley Hudson, Director of AccelerateRPA,

Ascend Performance Materials Announces Price Increase for Intermediate Materials22.6.2018 14:00Pressemelding

Ascend Performance Materials announced today a price increase for its intermediate materials. The price increase will take effect globally on July 1, 2018, and includes the following terms: Material Price Increase Terms Hexamethylene diamine (HMD) $0.17/lb. • As contracts allow. • Non-contract business – price determined on an order-by-order basis. Acrylonitrile (AN) $0.20/lb. • As contracts allow. • Non-contract business – price determined on an order-by-order basis. Customers should contact their local sales representative for additional information. About Ascend Performance Materials Ascend Performance Materials is a global premium provider of high-quality plastics, fibers and chemicals and is the world’s largest integrated producer of PA66 resin. Headquartered in Houston, Texas, Ascend has eight global locations, including five fully-integrated manufacturing facilities located in the southeastern United States, all dedicated to the innovation and safe production of nylon 6,6. With

Different Countries, Different Customs: Get Ready for the Motorbike Holidays with Moto-tyres.co.uk22.6.2018 13:41Pressemelding

Pack your bags, close the boot and get away on holiday? When you start your holidays on a motorcycle, you usually have to consider a few things more when getting ready for your trip. The right preparation is therefore a must. So that nothing stands in the way of a smooth journey, Moto-tyres.co.uk has put together some tips for your next trip. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180622005345/en/ Different countries, different customs: get ready for the motorbike holidays with Moto-tyres.co.uk (Photo: Business Wire) Whether a weekend trip or extended adventure, it all depends on the right equipment. Functional clothing, protectors and rain protection are a must on long trips. Wearing a suitable motorcycle helmet is a legal requirement almost everywhere. However, there are also very different rules and regulations for motorbike equipment and accessories depending on the destination, and you should familiarise yoursel

Boehringer Ingelheim bolsters biologics research and development with 230 million euro investment in new development center22.6.2018 12:00Pressemelding

Today Boehringer Ingelheim announced a 230 million euro investment into a new Biologicals Development Center (BDC) at the company’s Research and Development site in Biberach, Germany during the foundation stone laying for the new center. “The BDC is another key building block supporting the company’s long-term strategy for increasing the pipeline’s share of biologicals. This is particularly driven by two of our core areas, immune oncology and immunology,” says Dr. Fridtjof Traulsen, Corporate Senior Vice President Development at Boehringer Ingelheim. “The share of new biological entities in Boehringer Ingelheim’s research pipeline has been consistently increasing over the past few years and has now reached forty percent.” The BDC will help to maximize synergies by integrating biologicals analytical and process development as well as manufacturing for clinical studies into one seamless unit, while at the same time increasing development capacity. Following a staggered launch beginning i