Business Wire

euNetworks Reports Fourth Quarter and Full Year 2015 Results

Del

euNetworks Group Limited, a provider of bandwidth infrastructure services in Western Europe, announced results for the three months ended 31 December 2015 and for the full year 2015. New sales achieved were €819k in Q4 2015, up 4% from Q4 2014. For the full year, new sales increased 12% from 2014. Service installations were €655k in Q4 2015, on slightly lower units installed. For the full year, units installed increased 7%. The level of disconnections in the quarter was low, with average churn at 0.9%, an improvement from 1.3% in Q3 2015. Total monthly incremental service revenue (MISR) was €197k in Q4 2015, up from €124k in Q4 2014 and €166k in Q3 2015. euNetworks delivered strong sales and revenue growth throughout the year.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160303005630/en/

Brady Rafuse (Photo: Business Wire)

Brady Rafuse (Photo: Business Wire)

                                         
(€k)       Q4 2015       Q4 2014       % change       Q3 2015       % change
New Sales       819       784       4       898       (9)
Installations 655 735 (11) 699 (6)

Monthly Incremental Service
Revenue

      197       124       59       166       19
                     
(€m)  

Q4
2015

 

Q4
2014

  % change  

Q3
2015

  % change

Total Revenue
   Recurring Revenue

  30.6

30.6

  27.2

27.2

  12

12

  29.6

29.6

  3

3

Gross Profit 23.8 20.8 14 23.0 3
Gross Profit Margin % 77.6% 76.6% 1 77.6% 0
Adjusted EBITDA(1) 9.9 7.4 34 8.2 21
Capital Expenditure 10.9 6.1 n/a 11.3 n/a
Proxy Cash Flow(2)   (1.0)   1.3   n/a   (3.1)   n/a

     1.

Adjusted EBITDA means EBITDA before the deduction of share option expense.

     2.

Proxy cash flow is calculated as Adjusted EBITDA less capital expenditure.

These results are unaudited.

Recurring revenue was €30.6m in Q4 2015, growing 12% from Q4 2014 and 3% from Q3 2015. Gross profit was €23.8m, up 14% from Q4 2014 and 3% from Q3 2015. Gross margin improved to 77.6% in Q4 2015 from 76.6% in Q4 2014 and was in line with Q3 2015.

Adjusted EBITDA was €9.9m in Q4 2015, improving by 34% from Q4 2014 and by 21% from Q3 2015. This was despite the adverse foreign exchange impact in the quarter amounting to €300k.

Capital expenditure supporting revenue growth was €10.9m in the quarter as euNetworks continues to invest for growth. This contributed to proxy cash flow of €(1.0)m in Q4 2015.

For the full year, recurring revenue was €117.2m, growing 14% from 2014. Gross profit was €90.8m in 2015, up 17% from €77.9m in 2014. Adjusted EBITDA reached €33.8m, up 19% from 2014 despite the c€1.2m adverse impact from foreign exchange for the full year. Capital expenditure was €41.1m in 2015, and supported customer related projects and network development initiatives in line with euNetworks’ strategy. As a result of that investment, proxy cash flow was €(7.3m) in 2015, down from 2014.

“Our sales performance was strong through 2015, with 12% growth overall,” said Brady Rafuse, Chief Executive Officer of euNetworks. “Our operating business continued to perform strongly and we exited the year with lower disconnections and an average churn below the industry average. We also achieved solid growth in our incremental service revenue.”

“For the quarter and full year 2015, our financial performance remained strong, with 12% growth in recurring revenue and 19% growth in Adjusted EBITDA from 2014,” said Rafuse.

“Our capital expenditure was higher in 2015 in line with our continued strategy of investing in our network in support of customers and our organic growth. Following investment in Paris in October and our long haul Wavelengths network in Germany, we recently announced two new long haul fibre routes to Marseille following specific customer requests. Capital expenditure will remain higher in 2016 and there are a number of strategic network investments projects that we will announce in due course. We remain confident about the opportunities ahead and the close relationships we have with our customers will continue to drive our development moving into 2016.”

Further review and discussion of the performance of the Group for Q4 2015 can be found in the accompanying results supplement available here: http://eun.io/24D8xu3

About euNetworks

euNetworks is a bandwidth infrastructure provider, owning and operating 13 fibre based metropolitan networks across Europe connected with a high capacity intercity backbone covering 45 cities in 10 countries. The company leads the market in data centre connectivity, directly connecting over 280 in Europe today. euNetworks is also a leading cloud connectivity provider, connecting 12 cloud platforms. The company offers a portfolio of metropolitan and long haul services including Dark Fibre, Metro Wavelengths, Wavelengths, Ethernet, and Internet. Media, finance, enterprise and carrier 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.

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

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

Gilead Sciences Announces That John C. Martin, PhD Will Transition From Executive Chairman to Chairman of the Board of Directors14.12.2017 21:30Pressemelding

Gilead Sciences, Inc. (Nasdaq:GILD) today announced that Executive Chairman John Martin, PhD will transition from his current role of Executive Chairman to Chairman of the Board of Directors effective March 9, 2018. Dr. Martin was named Executive Chairman on March 10, 2016, when he was succeeded as CEO by John Milligan, PhD. Dr. Martin served as CEO of Gilead from 1996 to 2016, having joined the company in 1990 as the Vice President of Research and Development. During his time as CEO, he built the company’s portfolio to 24 marketed products with annual revenues of more than $32 billion. “John's scientific and business leadership has been notable for the development of Gilead’s portfolio of HIV and viral hepatitis medicines and commitment to worldwide access for patients. We are all grateful that he will continue to help guide the company as Chairman of the Board,” said Dr. Milligan, Pr

UniPrint Infinity Now Available in Epic App Orchard14.12.2017 19:07Pressemelding

UniPrint.net announced today that UniPrint Infinity software is now available in the Epic App Orchard Marketplace. Users can now take advantage of UniPrint Infinity’s secure release print suite which works with any printer, any device, and in any computing environment. UniPrint Infinity’s PDF-based Healthcare Printing Suite provides industry standard 256-bit data encryption and compression, high availability, archiving, and “follow-the-user” printing, resulting in increased security and compliance in addition to reduced print costs. Implementation of UniPrint Infinity is proven to reduce wait times and help desk calls. By improving workflows for doctors, nurses, and other healthcare providers, UniPrint Infinity allows healthcare staff to focus their attention on their most important task: providing better patient care. “Building upon our recent Imprivata SSO integrati

FINEOS Announces Three New Customers in the Cloud14.12.2017 15:57Pressemelding

FINEOS Corporation, the market leading provider of core systems for Life, Accident and Health (LA&H) insurance, today announced three new customers who have acquired FINEOS as a cloud service. The three new FINEOS customers, based in the US, Sweden and Canada respectively, have licenced FINEOS for their group insurance core processing needs. FINEOS is partnering with Amazon Web Services (AWS), the world’s largest IaaS cloud provider, to deliver the FINEOS Software as a Service (SaaS) offering. FINEOS Insurance Cloud is designed for the specific compliance and security needs of the LA&H industry. With simple subscription pricing, a FastTrack implementation approach, 24 x 7 support and continuous upgrades, the FINEOS Insurance Cloud is the way forward for LA&H insurance core systems. Speaking about the cloud, Gartner has said “By 2020, a Corporate ‘

UniPrint Infinity Now Available in Epic App Orchard14.12.2017 15:52Pressemelding

UniPrint.net announced today that UniPrint Infinity software is now available in the Epic App Orchard Marketplace. Users can now take advantage of UniPrint Infinity’s secure release print suite which works with any printer, any device, and in any computing environment. UniPrint Infinity’s PDF-based Healthcare Printing Suite provides industry standard 256-bit data encryption and compression, high availability, archiving, and “follow-the-user” printing, resulting in increased security and compliance in addition to reduced print costs. Implementation of UniPrint Infinity is proven to reduce wait times and help desk calls. By improving workflows for doctors, nurses, and other healthcare providers, UniPrint Infinity allows healthcare staff to focus their attention on their most important task: providing better patient care. “Building upon our recent Imprivata SSO integrati

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

Besøk vårt presserom