European independent metro fiber builder and operator euNetworks (SIN:H23, news) turned in its usual steady quarter this morning, showing revenue growth and growing margins despite a difficult environment. Here's a quick table of their Q2 results in context:
|in millions of €||Q2/11||Q3/11||Q4/11||Q1/12||Q2/12|
|Adj EBITDA margin||7.5%||17.8%||0.4%||9.1%||10.8%|
Churn remained above 1% due to macroeconomic and industry-wide factors, but with new sales keeping pace. Both gross margins and EBITDA margins grew steadily, due both to integration savings taking hold and to higher margin new sales. The company added 89 buildings to its network during the quarter, bringing its total to 790.