Telecity Group plc results for the six months to 30 June 2009

TelecityGroup delivers 33% growth in revenue, 75% growth in EBITDA and 100% growth in earnings per share

Telecity Group plc (‘TelecityGroup’ or the ‘Group’), Europe’s leading provider of premium network independent data centres, today announces its audited results for the six months to 30 June 2009.

Highlights

• Revenue up 33.0% to £82.2m (H1 2008: £61.9m)
• EBITDA(1) up 75.2% to £29.4m (H1 2008: £16.8m)
• EBITDA margin up to 35.7% (H1 2008: 27.1%)
• Adjusted(2) profit after tax £13.5m (H1 2008: £6.7m)
• Adjusted(2) earnings per share up 100.2% to 6.9p (H1 2008: 3.4p)
• Strong working capital performance leading to cash flow from operating activities of £32.8m (H1 2008: £21.6m)

Statutory equivalents

The above highlights are before foreign exchange gains on financing items and a net deferred tax credit, which are not considered to be part of the underlying business of the Group. If these items are included, the following statutory equivalents to adjusted profit after tax and adjusted earnings per share result:

• Profit after tax up to £13.7m (H1 2008: £10.6m)
• Basic earnings per share of 7.0p (H1 2008: 5.4p)

Michael Tobin, TelecityGroup CEO, said:
"During the first half of 2009 TelecityGroup has performed excellently in terms of revenue growth, operating profit and earnings per share.  Given the combination of our strong order pipeline, capacity expansion in key locations and momentum from the first half, we are well placed to deliver another year of substantial growth for the Group.”
 
For the full announcement click here: http://www.telecitygroup.com/results-and-presentations-old.htm
 
For further information please contact:
 
Investors:
TelecityGroup:
Matthew Springett 
+44 (0)20 7005 6337
 
Media:
TelecityGroup:
James Tyler
+44 (0)20 7001 0076
 
Brunswick:
Sarah West
James Olley 
+44 (0)20 7404 5959

Notes to Editors

Telecity Group plc

TelecityGroup is Europe’s leading provider of premium network independent data centres offering a range of flexible, scalable data centre and managed services. TelecityGroup specialises in the design, build, and management of highly connected and secure environments in which customers can house their technical, web and internet infrastructure. Each of its data centres acts as a connectivity and content hub facilitating the storage, sharing and distribution of data, content and media. Headquartered in London, TelecityGroup operates 22 network-independent data centres across seven European countries. The data centres are located in prime positions for commerce and connectivity, including London, Amsterdam, Frankfurt, Paris, Stockholm, Milan and Dublin.

Web-site: www.telecitygroup.com
 
Cautionary note regarding forward-looking statements
 
This announcement includes statements that are forward-looking in nature. All statements other than statements of historical facts could be deemed to be forward looking statements. By their nature, these forward looking statements involve numerous assumptions, uncertainties and opportunities, both general and specific. Accordingly, the actual results, performance or achievements of the Company may be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, due to known and unknown risks, uncertainties and other factors. Except as required by the Listing Rules and applicable law, Telecity Group plc undertakes no obligation to update or change any forward-looking statements to reflect events occurring after the date such statements are published.
 
This announcement is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States, or any other jurisdiction. The Company's shares have not been registered in any U.S. jurisdiction, and, in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws.

• Printable Version
• Email a friend