Macquarie Telecom posts 13th consecutive half of revenue growth

Macquarie Telecom posts 13th consecutive half of revenue growth

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Macquarie Telecom has seen growth across revenue and EBITDA for the 13th consecutive half year.

In its most recent financial results, released on 24 February local time, the group reported revenue of AU$143.6 million, an increase of 9% on 1H FY20 and EBITDA of $36.4 million, an increase of 15% on the first half of last year.

Net profit after tax came in at $7 million, an increase of 5% on 1H FY20.

On spending, total capital expenditure (capex) for the first half of FY21 stood at $32.9 million (1H FY20: $23.1 million) excluding the cost of Intellicentre 3 East. On that front, for the Intellicentre 3 East and Intellicentre 5 South Bunker, the group has drawn down $93.5 million to support data centre developments.

Customer growth capex was $13.9 million, 20% higher than the $11.6 million recorded for the same period last year and reflective of "continued data centre sales success and product mix".

Chief executive David Tudehope commented, “Macquarie’s 20-year strategy of investing in world-class data centres is based on strong demand for data centre capacity as customers migrate to cloud and colocation services. The win, of the 10MW of IT Load sold to a Leading Corporation, recognises the world class investment we have made in the Macquarie Park Data Centres Campus in Sydney’s North Zone.”

The firm also reported that the telecoms division " continues to win customers from legacy data and IP carriers with our NBN and SD WAN solution."

On the outlook, FY21 Total Capex is expected to be between $57 million and $66 million, excluding IC3, and broken down as follows:

  • Customer Growth - $25 to $28 million;

  • Growth Capex - $17 to $20 million;

  • Maintenance Capex - $15 to $18 million;

  • IC3 Expenditure - $123 to $126 million.

Meanwhile, EBITDA is expected to be approximately $72 to $75 million and FY21 depreciation is expected to be between $50 and $53 million.


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