Telecity Group plc results for the year ended 31 December 2012
TelecityGroup delivers strong earnings growth and confirms a positive outlook
Telecity Group plc ('TelecityGroup', 'the Group' or 'the Company'), Europe's industry-leading provider of premium carrier-neutral data centres, today announces its results for the year ended 31 December 2012
Highlights
Revenue up 18.0% to £283.0m (2011: £239.8m)
Adjusted EBITDA up 22.0% to £129.5m (2011: £106.2m)
Adjusted EBITDA margin up 150bps to 45.8% (2011: 44.3%)
Adjusted EBITA up 24.4% to £91.0m (2011: £73.2m)
Adjusted diluted earnings per share up 28.6% to 31.0p (2011: 24.1p)
Dividends
An interim dividend of 2.5p per ordinary share or £5.0m (2011: £nil) was paid during the year. Furthermore, the Board is proposing a final dividend of 5.0p per ordinary share in respect of the year (2011: £nil). Subject to shareholder approval this will be payable on 19 April 2013 to shareholders on the register at 15 March 2013. Together with the interim dividend paid in 2012, this will bring the total dividend for the year to 7.5p per ordinary share (2011: nil). The final dividend has not been recognised as a liability in these financial statements and will, should it be approved by shareholders, be recognised in shareholders' equity in the year to 31 December 2013.
Final dividend of 5.0p per share proposed, taking the total 2012 dividend payment to 7.5p
Available customer power up 26.5% to 86MW (2011: 68MW)
Announced customer power up 8.9% to 135MW (2011: 124MW)
Market leading position established in Helsinki through the acquisitions of Academica and Tenue (note 9)
Statutory equivalent
The above highlights are based on the Group's adjusted results. A full reconciliation between the adjusted and statutory results is contained in note 2. Where different, the statutory equivalents of the above results are as follows:
Operating profit £84.2m (2011: £65.4m)
Diluted earnings per share of 28.5p (2011: 21.1p)
Michael Tobin, TelecityGroup CEO, said:
"I am delighted with TelecityGroup's performance during 2012. The Group performed extremely well, delivering 29% growth in earnings per share and commenced its progressive dividend policy. Furthermore, we increased our available customer power by 27%, with new site openings and major capacity expansion projects across Europe. We have entered 2013 with a strong recurring revenue base and available capacity in all of our key locations. I look forward to another strong operating and financial performance in 2013."
