The European network infrastructure provider euNetworks posted its third quarter earnings numbers today, which is awfully nice of them seeing as they're privately held these days. After a big Q2 in which they had a bit of extra euTrade revenue during a migration, they held most of those gains and saw EBITDA keep marching upward. Here are their numbers in some context:
|in millions of €, UOS||Q3/15||Q4/15||Q1/16||Q2/16||Q3/16|
|- Energy, Amortised, Other||2.5||2.7||2.4||2.7||2.1|
|Adj EBITDA margin||27.7%||32.3%||32.0%||33.2%||34.0%|
|Proxy Cash Flow||(3.1)||(1.0)||(1.7)||(5.6)||(1.1)|
|New Sales (in thousands of €)||898||819||970||937||869|
|Installs (in thousands of €)||699||655||706||904||664|
|Monthly Incremental Service Revenue||166||197||381||254||257|
Revenues were down sequentially, but inline with the overall trend. In Q2 euNetworks says it benefitted from 'some dual running euTrade services as a result of the move of a major trading exchange', which of course did not recur. EBITDA on the other hand rose anyway, with EBITDA margins reaching 34% for the first time.
Capex pulled back a bit after they finished off their dark fiber expansions to Marseille and Stockholm in Q3. It seems likely we'll see more such bursts though.
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