Telecity Group on track to reach 2014 targets

03 November 2014 |

Capacity Europe day 1 – Telecity Group has today announced its Q3 financial results and claims to be “on track” to meet its 2014 natural revenue target of £343 – £350 million.

The European data centre provider posted year to date revenue growth of 9.4%, and said that demand for its services has remained strong across all markets; noting particularly high growth in Amsterdam, Stockholm, Dublin and Frankfurt.

Margins for Q3 were in line with the first half of 2014 at 46.9%, and John Hughes, executive chairman at Telecity Group, said that he was very positive about the company’s direction.

“In February we will update the market on capital structure, capital allocation and operational priorities resulting from the work currently being undertaken,” Hughes said.

“But for now I am pleased to be re-iterating full year guidance for both revenue growth and capex, which confirms the direction of travel.”

Telecity Group added 4.6W of capacity during the quarter, largely in the Nordic region, and has near-doubled its capacity in Poland. Its total operational capacity now stands at 110.9W, with total customer power sitting at 164.7W.

The Group has been shortlisted in the best data centre category for tomorrow’s Global Carrier Awards 2014 ceremony in Amsterdam.