Privately held Interoute (news) offered up a few details on its performance in the first half of 2011. Revenues grew 20% to €167M, up 20% over the same period last year. That's a substantial acceleration over the rate they saw the prior year, despite the fact that the macroeconomic environment in Europe remains rather dodgy.
Some of that growth probably derives from their deal for KPN's German fiber network and their purchase of VCG earlier this year. But the company cited a surge in uptake for its cloud-based Unified ICT offering as well as healthy international demand for pan-European bandwidth. Bandwidth demand in general has proven fairly resilient as the economy has been struggling to hold on, and Interoute has been aggressively courting international operators as partners - as we saw with the Telefonica deal.
Meanwhile, EBITDA rose less sharply to €29.4m from €28.0M in the same period last year, as adjusted EBITDA margins fell somewhat and remained below 20%. That probably reflects some integration costs as well as the investments they are making to become a power in the cloud services arena amongst European enterprises.