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Telehouse Europe announces 13th consecutive year of financial success
Mar 25, 2003
Telehouse Europe, the leading provider of colocation services, has announced financial results for its 2002 fiscal year end.
In the year to December 2002, Telehouse Europe reported an EBITDA performance of £8.3 million, an increase of £2.4 million over the previous year. Turnover increased 10% to £33.2 million and capital expenditure was £11.9 million. Operating profits for the year ending 2002 increased by 63% to £2.9 million.
Shinichi Suzukawa, Managing Director, Telehouse Europe stated "In what was undoubtedly a difficult trading environment, with a record number of business failures in the UK, the group was able to improve its position year on year. This is a marvellous achievement."
"During 2002 we undertook a number of significant initiatives that, in my view, put us firmly on course to maximise revenues and improve our market share across the group, by focusing more acutely on our customers' requirements" he continued.
Telehouse Europe completed a major expansion to its main Voltaire site in Paris at a cost of £10.1 million, enabling the group to market an additional 2,300 square metres of selling space. A targeted sales campaign is now underway in Paris to ensure high levels of occupancy and subsequent revenue streams are achieved rapidly.
"The UK continues to make a significant contribution to the group's overall success and has been the focus of some major sales and marketing initiatives. During 2002 we launched a programme to maximise profitable revenues across the group. This project has enabled us to streamline and make many of our internal business processes more efficient and improve the interface we have with our customers," added Shinichi Suzukawa.
Barney Bannington, Financial Director, Telehouse Europe, stated: "Given the fact that so many other players in this market sector are struggling, the news we have announced today is all the more important. Tough trading conditions, matched with tremendous market uncertainty, make it all the more critical that existing and prospective clients can see evidence of financial strength, as well as experience and expertise, when the select a colocation partner. In this regard, Telehouse is unique in its marketplace".
