Company news
10/03/2008
Telecity Group plc announces Preliminary Results for the Year Ended 31 December 2007
Telecity Group plc (‘TelecityGroup’ or the ‘Group’), the leading pan-European operator of network independent data centres, today announces its preliminary results for the year ended 31 December 2007.
Highlights
- Revenue up 42.1% to £97.9m (2006: £68.9m)
- Adjusted EBITDA* up 112.1% to £23.4m (2006: £11.0m)
- Adjusted EBITDA* margin up to 23.8% (2006: 16.0%)
- Average revenue per occupied sq.m up 12.0% to £2,586 (2006: £2,308)
- Breakeven operating result (2006: loss £12.1m)
- Occupied space up 9.3% to 37,868 sq.m (2006: 34,651 sq.m)
- Available fully fitted inventory in existing facilities expanded to 46,597 sq.m
- Began build of new data centres in London and Amsterdam, both on track to open Q2 2008
- Successful IPO raising net proceeds of £66.9m
- Cash flow from operating activities of £12.5m (2006: £3.6m)
Michael Tobin, TelecityGroup CEO, said:
“2007 was an exciting and successful year for TelecityGroup. Strong, sustained demand for our services throughout the year combined with robust pricing levels in all markets helped us deliver an excellent performance."
“During the year we began work on two major new builds in Amsterdam and London, which are on track to take their first customers in Q2 2008. Both new builds are attracting good levels of interest from both existing and new customers.
“The successful delivery of our revenue and EBITDA objectives, combined with strong ongoing demand since the start of 2008, puts TelecityGroup in a powerful position to continue its growth this year and beyond. We expect the network independent data centre services sector to continue to grow strongly and we already have a good pipeline of new customer projects emerging from across a diverse sector base.” 
Download the full results
For further information please contact:
Investors:
TelecityGroup:
Rob Coupland +44 (0)20 7001 0078
Media:
TelecityGroup:
James Tyler +44 (0)20 7001 0076
Brunswick:
Sarah West
James Olley +44 (0)20 7404 5959
*Adjusted EBITDA is defined as earnings before interest, taxation, depreciation, amortisation and exceptional items
A live webcast of the presentation to analysts including Q&A will take place at 9.30am GMT on 10 March. This can be accessed at www.telecity.com/investor/home. An archived version will be available later on in the day.
There will also be a conference call primarily for US investors at 2.30pm (10.30am Eastern Time) on the day.
Dial-in details for the call are as follows:
UK: +44 (0)203 023 4483
US: +1 866 966 5335
Replay:
UK: +44 (0)20 8196 1998
US: +1 866 583 1035
Access code: 395006
Notes to Editors
Telecity Group plc
TelecityGroup is the leading pan-European provider of 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 a connectivity and content hub facilitating the storage, sharing and distribution of data, content and media. Headquartered in London, TelecityGroup operates 18 network independent data centres across seven European countries. The data centres are located in prime positions for commerce and connectivity, including Amsterdam, Dublin, Frankfurt, London, Manchester, Milan, Paris and Stockholm.
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 jurisdiction, and, in particular, will not be registered under the U.S. Securities Act of 1933, as amended, or any applicable state securities laws.
