Continued strong growth in revenue, long-term contracts and EBIDTA profitability
Singapore, ASIA – 14 May 2009 – euNetworks Group Limited, foremost provider of mission-critical, high-performance networking solutions, announced exceptionally strong growth in recurring revenues, improved EBIDTA and significant business events.
Noel Meaney, Executive Chairman, commented: “The first quarter of 2009, and since, has become a major watershed for euNetworks. We have achieved a number of significant milestones which transformed the Company to a robust, financially lean organisation with a solid shareholder base and new key management. Allied to this we have increased revenues by 42% in a somewhat difficult economic climate, and furthermore improved significantly our EBIDTA position to breakeven”.
euNetworks is a bandwidth infrastructure company, owning and operating 17 fibre based metropolitan networks connected with a high capacity intercity backbone covering 51 cities in 15 countries. The company leads the market in data centre connectivity, directly connecting over 440 today. euNetworks is also a leading cloud connectivity provider, directly connecting to all key cloud platforms with access to additional platforms. The company offers a targeted portfolio of metropolitan and long haul services including Dark Fibre, Wavelengths, and Ethernet. Wholesale, finance, content, media, data centre and enterprise customers benefit from euNetworks’ unique inventory of fibre and duct based assets that are tailored to fulfil their high bandwidth needs.