IXEUROPE REVENUES JUMP 38% IN 2004
London (ots)
IXEurope, the leading European provider of specialised datacentre services to enterprises, outsourcers and Internet companies, today reported financial and operating results for the year ending 31 December 2004.
Highlights
- Total turnover increases by 38% to ¤22.8m (2003: ¤16.5m) - First EBITDA positive quarter in Q4 2004 - Underlying full year EBITDA positive* - Successful divestment of loss-making Sophia-Antipolis datacentre - Successful acquisition of new Geneva Datacentre - Zurich operation capacity increased by over 30% due to customer demand - Significant wins in banking and Internet sector - Over 80% of revenue is from recurring service contracts - Over ¤44m of forward contracted revenue** signed
*Full-year EBITDA excluding costs for restructuring the new Geneva operation and discontinuing losses from the Sophia Antipolis facility.
**Forward contracted revenue is the total value of revenues over their remaining contract period. IXEurope datacentre service contracts are typically for between 12 months and ten years, with the majority being between two and five years in length.
Guy Willner, Chief Executive Officer, IXEurope said:
"In 2004 we continued to grow at around twice the industry rate, securing long-term contracts with blue-chip enterprise and IT/Telecoms organisations. Significant growth has been generated from existing clients, endorsing the quality reputation and leadership position enjoyed by the Company in its four European markets."
"In April 2004 we made our third successful acquisition - a high-end specification datacentre in Geneva. This facility was rapidly integrated and it already makes a positive contribution to the Group following a restructuring of its operations. We continue to look at a number of opportunities to secure further sites in 2005 in order to increase our sales capacity and leverage our successful business model."
"In addition to positive financial performance, we continue to experience outstanding results in new client wins. Seven of Europe's top ten outsourcers now use our datacentre services as part of their offering."
"Our business model is very robust given that 80% of our annual revenue is from recurring contracts. This provides us with excellent forward visibility and considerable confidence for the future growth of the business. We have over ¤44m of forward contracted revenue already signed. This year has started well with the continuation of the positive EBITDA in Q4 last year into the current year."
Enquiries: IXEurope Guy Willner Chief Executive
Officer Karen Bach Chief Financial Officer Tel. +44/20/753'366'18
Internet: www.ixeurope.com
College Hill Adrian Duffield Clare Warren Tel. +44/20/7457'2815//2055