The pan-European network operator Interoute issued its full year 2012 numbers today. Much as it did last year, Interoute credited strong cloud services demand for its solid 2012 growth despite the continued macroeconomic headwinds the region as a whole has had to contend with.
Revenues of €410M were up 12% over 2011, with wholesale up 7.6% but enterprise cloud services rising by a whopping 28%. With little legacy revenue to churn off, Interoute's cloud efforts seem to be doing for them precisely what network operators around the world have been aiming for: adding a new revenue stream.
EBITDA rose 16% to €79M, while actual profits leapfrogged 14% to €18.4M. With revenues starting to scale relative to their infrastructure base, continued momentum will surely see margins start to expand. They could do it faster if an inorganic opportunity presents itself, of course.