Telecity Group plc, Europe’s industry-leading provider of premium carrier-neutral data centres, has issued the following Interim Management Statement.
Highlights: TelecityGroup has had a positive start to 2012 with good first quarter growth in revenue and profitability; New capacity has been brought on-line across the Group, adding 7MW of customer power and taking total available customer power up by over 10% since the year end to 75MW; Management confirm their positive outlook for the full year
TelecityGroup has had a positive start to 2012. The Group delivered a good performance in the first quarter in terms of growth in revenue, EBITDA and EPS. This is despite the relative weakness of the euro and Swedish Krona, which together account for over half of the Group’s revenues. TelecityGroup’s financial position is very robust as its operations are highly cash generative. At the end of the first quarter net debt remained at less than 1.5x expected full year EBITDA.
The on-going growth of the digital economy continues to drive strong demand for premium highly-connected data centre capacity in Europe. TelecityGroup’s trading remains strong and the Group continues to expect its trading performance to be in-line with market expectations for the full year.
As previously announced, the Group’s excellent cash generation and financial position allow for the introduction of a progressive dividend policy in 2012, with an inaugural payment to be made following the first half results.
TelecityGroup continues to achieve controlled, sustainable and profitable growth by increasing its capacity across Europe, in response to customer demand. The Group opened the first phase of its Amsterdam 5 data centre in March and has recently opened the first phases of its site expansions at London Powergate and Gutleutstrasse in Frankfurt.