Business Wire

euNetworks Performance Update for Third Quarter 2017

Del

euNetworks is a European facilities based bandwidth infrastructure provider that sells focus products to target customers. Our key drivers of bandwidth growth are data centre and cloud connectivity.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171101005837/en/

Brady Rafuse, CEO of euNetworks (Photo: Business Wire)

Brady Rafuse, CEO of euNetworks (Photo: Business Wire)

We delivered a strong performance in the third quarter. Total revenue grew 10% from Q3 2016 reaching €34.9m, with recurring revenue up 9% and recurring revenue from the focus products up 15% from Q3 2016, despite adverse currency impact. Adjusted EBITDA grew 18% from Q3 2016.

Capital investment in Q3 2017 was €17.1m, up 43% from Q3 2016. The majority of capital invested in the quarter was driven by customer projects, as it was in Q2 2017. Some of these metro and long haul developments included:

  • Manchester fibre metro build and roll out of DC Connect in Manchester. We now have 14 operational metro networks, with 7 of these enabled with DC Connect.
  • Scandinavian long haul development, extending from Stockholm on fully diverse paths to Helsinki. The south route is a new system, completely diverse from most existing routes, and due to go live in November. The north route was developed on an existing route into key data centres in Helsinki.
  • Further 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.
  • Lighting our first fibre-based route to Madrid, primarily in support of our financial services customers. This will go live in Q4 2017.
  • Extending our fibre based long haul network reach east, with a diverse fibre ring from Munich via Vienna and Prague to Dresden, going live in Q4 2017.

Sales performance was strong in Q3 2017, delivering 20% growth quarter on quarter and 25% growth from Q3 2016. This followed new network service capabilities going live in 1H 2017 and the benefit from additional sales resource that was added in Q1 2017. euNetworks’ service installations remained high after a good 1H 2017 performance, up 46% from Q3 2016 and in line with Q2 2017. Average churn in the quarter was 0.9%, with disconnections and churn in line with Q3 2016.

Normalised adjusted EBITDA was up 19% from Q3 2016 and up 8% from Q2 2017, reaching €13.1m. Normalised adjusted EBITDA in the quarter was €0.3m higher than adjusted EBITDA due to some professional fee normalisations in the business.

“The performance of the business was solid through Q3 2017, with strong growth in revenue and adjusted EBITDA while we continued to invest capital into the network for our customers,” said Brady Rafuse, Chief Executive Officer of euNetworks. “We had a great sales quarter and service installations remained high. We’ve also maintained our focus on quickly responding to our customers bandwidth needs, with the fibre expansion in Scandinavia, further phases of our German long haul network development, and more projects underway in both existing and new markets going live in Q4 2017 and early in 2018.”

“We remained focused on delivering scalable, fibre based products and solutions to a customer base that is at the centre of the technology transformation,” said Rafuse. “Our ability to operate a growing business while also delivering significant network development projects remains our focus today and in the future.”

€m      

Q2 2016

      Q3 2016       Q4 2016       Q1 2017       Q2 2017       Q3 2017               12 mths - 30/9/2016       12 mths - 30/9/2017       %    
                                                             
Total Revenue 32.2 31.8 32.3 32.6 33.8 34.9 125.2 133.6 6.7
Recurring Revenue 32.2 31.8 32.3 32.6 33.8 34.5 125.2 133.2 6.4
Adjusted EBITDA 10.7 10.8 10.6 10.7 12.5 12.8 41.2 46.6 13.1
Normalised Adjusted EBITDA 11.1 11.0 11.7 11.3 12.1 13.1 41.8 48.2 15.2
LQA Normalised Adjusted EBITDA exit 44.2 44.2 46.7 45.2 48.4 52.5 44.2 52.5 18.8
Capital Expenditure 16.1 11.9 16.5 14.2 16.9 17.1 50.4 64.7 28.5
Proxy Cash flow       (5.6)       (1.1)       (5.9)       (3.5)       (4.4)       (4.3)               (9.2)       (18.1)       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 49 cities in 14 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
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

(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

Huawei Brings the All-Connected World to Mobile World Congress25.2.2018 13:30Pressemelding

Building on its success in delivering beautifully-designed and powerful high-end mobile devices, Huawei Consumer Business Group (CBG) today unveiled the HUAWEI MateBook X Pro, the HUAWEI MediaPad M5 Series and the HUAWEI 5G customer-premises equipment (CPE), the world’s first commercial terminal device supporting the globally recognized 3GPP telecommunications standard for 5G. With stunning new design updates and outstanding performance advances, Huawei’s new devices showcase the power of technology to deliver innovative computing experiences ready for the mobile world. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180225005135/en/ MateBook X Pro (Photo: Business Wire) “At Huawei, we’re guided by a vision of an all-connected world, and to achieve that goal, we invest significantly in research and development to understand the ways in which people interact and connect with technology,” said Richard Yu, CEO of Huawei CBG. “We’

The 6th Annual World Patient Safety, Science & Technology Summit Kicked off with an Important Announcement about the Progress Being Made to Save Lives in Hospital Settings24.2.2018 10:00Pressemelding

The 6th Annual World Patient Safety, Science & Technology Summit kicked off with an important announcement about the progress being made to save lives in hospital settings. Nearly 4,600 hospitals in 44 countries have committed to adopting patient safety processes that are proven to eliminate preventable deaths in hospitals. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180224005027/en/ England’s Health and Social Care Secretary, Rt. Hon. Jeremy Hunt, launches groundbreaking new measures on Day One of the 6th Annual World Patient Safety, Science & Technology held in London (Photo: Business Wire) The Patient Safety Movement Foundation has taken on an inspiring and ambitious goal of reducing preventable patient deaths in hospitals to ZERO by 2020. The annual Summit in central London plays a major role in taking on that challenge with the participation of 300 global leaders, medical experts, medical technology CEOs, and patient

WuQi Technologies is Latest Licensee of CCww’s NB-IoT UE Protocol-Stack Software24.2.2018 09:06Pressemelding

Communications Consultants Worldwide Ltd. (CCww), global innovator of 3GPP® technologies, has licensed its NB-IoT protocol-stack software to WuQi Technologies Inc., a leading global developer of highly integrated mixed-signal SoC solutions, and the latest licensee of CCww’s NB-IoT Release 13 UE protocol-stack software. Communications Consultants Worldwide (CCww) is working with WuQi Technologies for the integration of its NB-IoT protocol-stack software onto WuQi Technologies’ highly innovative SoC. This relationship, catalyzed by T2M, is enabling the production of a highly integrated, very low power, NB-IoT SoC chipset targeting IoT Smart City, Smart Home, and wearable applications. CCww’s CEO, Richard Carter, said, “NB-IoT is CCww’s latest cellular Protocol-stack SW. We are excited to be working with WuQi to enable a sector-leading NB-IoT SoC, pushing back boundaries of performance and battery life for the next generation of IoT. See our demonstration at the Mobile World Congress (Hal

IDEMIA and Octo Telematics Reinvent Car Sharing Experience by Adding Facial Recognition to EasyOpen Solution23.2.2018 15:57Pressemelding

IDEMIA, the global leader in Augmented Identity for an increasingly digital world, announces today that it has implemented facial recognition technology on EasyOpen, a solution previously developed with its partner Omoove, a wholly-owned Octo Telematics company, Europe’s leading Shared Mobility technology provider. The digital enrolment process combined with facial recognition technology will securely enroll and authenticate the driver before EasyOpen automatically opens the car. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180223005506/en/ (Photo: Idemia) You will never rent a car the same way thanks to EasyOpen solution that combines IDEMIA’s expertise in secure service enablement and Omoove’s experience in Shared Mobility platforms and on-board technology. The first version of the solution was launched last year and allows drivers, who have already registered on the application, to use their smartphones as a key to open

SM-Optics Unveils First FLEXSET Chip, Paving the Way to Optical Micro Nodes23.2.2018 14:00Pressemelding

SM-Optics launches FLEXSET, a single chip embedding multiple processing functionalities raising the bar for performances, density and architectural flexibility. The FLEXSET is the heart of the Lightmode product family. FLEXSET OTN switching matrix scales from 300Gbps to 1Tbps and can be addressed by ports spanning from traditional low-speed services like 2Mbps over micro-OTN, to layer2 and layer3 over ODUFlex, 100G over ODU4 and 200G over FlexO. Thanks to its embedded capabilities including multi-technology OAM, packet processing, synchronization and fast protection functions, FLEXSET operates by design at the lowest latency performances and features an Intel Stratix 10 FPGA. Following the launch of micro-OTN, a revolutionary approach to efficiently extend OTN protocol to low speed services, the launch of FLEXSET advances the vision of a highly interconnected metro network and of micro nodes. Revolving around functional block elements, micro nodes collapse in few rack units OTN and pho

Bitcoin Miner HashGains’ Crowdsale to Build Green Cloud Mining Data Centers Receives Excellent Response23.2.2018 13:56Pressemelding

HashGains.com, a leading cryptocurrency mining platform, has launched its crowdsale program to build mega cryptocurrency cloud mining data centers in India and Canada which uses renewable energy like wind and solar as source of energy. “With the growing worries around bitcoin mining causing environmental damage, difficulty levels of mining increasing and returns heading southwards, there was no better opportunity but to build green energy data centers which run on free sources of energy like wind and solar, ensuring handsome mining rewards while taking care of environment,” said Mr Anuj Bairathi, CEO & Founder, HashGains, who is crypto enthusiast himself. HashGains is a growing cloud mining platform with more than 10,000 active customers enjoying mining returns and is expected to reach the mark of 1 million customers by 2020. To handle such a massive growth and ever growing demand of customers, it becomes even more important that mega mining centers are planned which can serve needs of