Business Wire

euNetworks Performance Update for Third Quarter 2017

Jaa

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

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Manchester United and True Religion Launch Denim Range19.10.2018 20:37Tiedote

Manchester United (NYSE:MANU) and luxury denim brand True Religion have collaborated to launch a range of premium club branded denim wear. A first for the club, the new global partnership with the iconic American denim brand will see a range of men’s & women’s co-branded styles go on sale beginning 26th October in the club’s Megastore as well as online via United Direct and truereligion.com & eu.truereligion.com. The exclusive collection features jeans, shirts and jackets, including a highly desirable limited edition denim jacket embroidered with the club’s crest. Fans will have the opportunity to win a selection of clothing from the new range by visiting www.manutd.com/truereligion. Manchester United’s Group Managing Director, Richard Arnold, comments: “True Religion is a well-known, established name in fashion, creating unique designs without compromising on quality. The range we have collaborated on includes the same attention to detail and craftsmanship that has made True Religion

Arch Insurance Announces Strategic Leadership Changes19.10.2018 16:10Tiedote

Arch Insurance today announced that Matt Shulman will assume the newly created role of CEO, Arch Insurance North America, effective January 1, 2019. In this role, he will lead Arch Insurance’s operations in the United States and Canada. He will report to Nicolas Papadopoulo, Chairman and CEO of Arch Worldwide Insurance Group. Mr. Shulman, who has more than 20 years of experience in the insurance industry, has been with Arch Insurance since 2009 and has served as the President and CEO of Arch Insurance Europe since 2016. “Matt brings significant U.S. and international experience to this role. Under his leadership, together with our senior team, Arch Insurance will continue to enhance our value proposition to our customers through a robust, diversified product portfolio, creative solutions and excellent service,” Mr. Papadopoulo said. Arch Insurance has also created a new organizational structure with three Chief Underwriting Officers (CUO) dedicated to specific lines of business. These

Takeda to Present Results from Phase 3 ALTA-1L Trial Highlighting Intracranial Efficacy of ALUNBRIG® (brigatinib) Versus Crizotinib in First-Line Advanced ALK+ Non-Small Cell Lung Cancer19.10.2018 15:00Tiedote

Takeda Pharmaceutical Company Limited (TSE: 4502) today announced that intracranial efficacy data from the Phase 3 ALTA-1L (ALK in Lung Cancer Trial of BrigAtinib in 1 st Line) trial showed improved intracranial progression-free survival (PFS) and intracranial objective response rate (ORR) with ALUNBRIG (brigatinib) compared to crizotinib among anaplastic lymphoma kinase-positive (ALK+) non-small cell lung cancer (NSCLC) patients. Data for these secondary endpoints will be presented in a poster discussion at the European Society for Medical Oncology (ESMO) 2018 Congress on Friday, October 19 at 2:00 p.m. CET in Munich, Germany. These results further support ALUNBRIG as a potential treatment for adults with ALK+ locally advanced or metastatic NSCLC who had not received a prior ALK inhibitor. ALUNBRIG is currently not approved as first-line therapy for advanced ALK+ NSCLC. “ALK+ NSCLC often spreads to the brain, so having options that can clearly demonstrate efficacy both in the brain an

Vertex Receives European CHMP Positive Opinion for KALYDECO® (ivacaftor) to Treat Patients With Cystic Fibrosis Aged 12 to <24 months With Certain Mutations in the CFTR Gene19.10.2018 14:54Tiedote

Vertex Pharmaceuticals (Europe) Limited today announces that the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion for KALYDECO® (ivacaftor) to include the treatment of people with cystic fibrosis (CF) aged 12 to <24 months who have at least one of the following nine mutations in their cystic fibrosis transmembrane conductance regulator (CFTR) gene: G551D, G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N or S549R. If the European Commission issues a favorable adoption of the EMA CHMP opinion for the extension of indication, ivacaftor will be the first and only medicine approved in Europe to treat the underlying cause of CF in patients aged 12 to <24 months, who have specific mutations in the CFTR gene. “Cystic fibrosis is a chronic, progressive disease that is present at birth, with symptoms often occurring in infancy, so early treatment is crucial to deliver the best possible outcomes for patients,” said Reshma Kewalr

Tradeshift Announces Q3 2018 Results19.10.2018 14:00Tiedote

Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the third quarter of 2018, marking the tenth quarter in a row of successive growth and beating targets. Tradeshift’s third quarter growth stats announced today include: YoY revenue grew 400 percent (trailing 12 months) YoY new bookings grew 284 percent YoY gross merchandise volume (GMV) grew 262 percent New total contract value grew by $47M in Q3 Tradeshift’s customer roster continued strong growth this quarter adding 27 new customers, including Hertz, Shiseido, ECU, and Fortune 500 leaders in retail apparel, agriculture, engineering and construction, hospitality, travel and food delivery. Tradeshift also expanded its app ecosystem by adding a key partnership with Coface, a global credit insurer. Coface has announced a new app solution on the Tradeshift platform offering risk and business information services to help businesses make decisions by ensuring greater financial transparency between

Schlumberger Announces Third-Quarter 2018 Results19.10.2018 14:00Tiedote

Schlumberger Limited (NYSE: SLB) today reported results for the third quarter of 2018. (Stated in millions, except per share amounts) Three Months Ended Change Sept. 30, 2018 Jun. 30, 2018 Sept. 30, 2017 Sequential Year-on-year Revenue $8,504 $8,303 $7,905 2% 8% Pretax operating income $1,152 $1,094 $1,059 5% 9% Pretax operating margin 13.5% 13.2% 13.4% 36 bps 15 bps Net income - GAAP basis $644 $430 $545 50% 18% Net income, excluding charges & credits* $644 $594 $581 8% 11% Diluted EPS - GAAP basis $0.46 $0.31 $0.39 48% 18% Diluted EPS, excluding charges & credits* $0.46 $0.43 $0.42 7% 10% North America revenue $3,189 $3,139 $2,602 2% 23% International revenue $5,215 $5,065 $5,147 3% 1% North America revenue, excluding Cameron $2,572 $2,546 $2,086 1% 23% International revenue, excluding Cameron $4,559 $4,387 $4,430 4% 3% *These are non-GAAP financial measures. See section below entitled "Charges & Credits" for details. Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our third

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme