TIDMCITY
RNS Number : 5244V
CityFibre Infrastructure Hldgs PLC
31 January 2017
For immediate release 31 January 2017
CITYFIBRE INFRASTRUCTURE HOLDINGS PLC
('CityFibre' or the 'Group' or the 'Company')
2016 Trading Update
Transformational year delivers threefold growth in new orders
and connected premises
CityFibre (AIM: CITY), a leading designer, builder, owner, and
operator of fibre optic infrastructure in UK towns and cities,
announces a preliminary trading update for the year to 31 December
2016.
Financial results are expected to be in line with expectations,
with revenue in excess of GBP15.0 million and Adjusted EBITDA of
approximately GBP2.5 million*.
The Group delivered a record performance in the period, adding
5,063 new connections**, with initial contract value ('ICV') of
GBP75.5 million. This compares to 1,100 connections and ICV of
GBP23.0 million in the year to 31 December 2015. Of the connections
added in the period, 58% were organic new sales.
The Company also significantly increased the number of connected
premises served to 3,962, from 1,200 in the prior period.
At period end the Group had 3,383 kilometres of network assets
in use, up from 743 kilometres at the end of 2015.
Service provider relationships totaled 54 at period end, up from
41 at the end of 2015.
Orders signed in late 2016 principally include:
-- a 25-year national dark fibre core network migration for
Gamma, utilising the Company's national long-distance network and
metro interconnects to provide a 1,300 kilometre national route
connecting 15 major data centres and BT exchanges in London and
major regional hubs;
-- a five-year, 63-site contract on its existing Coventry
network with partner Pinacl Solutions on behalf of the Coventry
Clinical Commissioning Group;
-- a seven-year, 33-site public services network in Stirling in
partnership with MLL Telecom, establishing CityFibre's 41(st) city
via 20 kilometres of new network build (previously announced on 17
January 2016).
-- a five-year, 150-site commitment from partner BtL on existing
assets in Maidenhead and Slough. The deal establishes Maidenhead as
our 42(nd) city;
The Group will report full year financial results on Tuesday, 25
April 2017.
* These figures remain subject to audit and are based on the
management accounts to 31 December 2016.
**Connections include those acquired from KCOM and
Redcentric.
Greg Mesch, Chief Executive of CityFibre, commented:
"2016 was a transformational year for CityFibre. Having started
the year with a step change acquisition which significantly scaled
our operational footprint across the UK, we followed up by rolling
out a commercialization campaign which delivered over 1,700
connections on the acquired assets. The acquisition of the
Redcentric network assets in September and further organic
development takes our UK city footprint to 42 as we begin 2017. We
are now strongly positioned as the largest wholesale infrastructure
provider next to Openreach, which provides us with a great platform
for future growth, including significant upsides in
Fibre-to-the-Tower and Fibre-to-the-Home."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
For further information, please contact:
CityFibre Infrastructure Holdings www.cityfibre.com
plc
Greg Mesch, Chief Executive Officer Tel: 020 3510
0602
Terry Hart, Chief Financial Officer
James Enck, Head of Investor Relations Tel: 0333 150
6283
finnCap (Nomad and Joint Broker) www.finncap.com
Stuart Andrews / Christopher Raggett Tel: 020 7220
(Corporate Finance) 0500
Simon Johnson (Corporate Broking)
Liberum (Joint Broker) www.liberum.com
Steve Pearce / Steven Tredget / Tel: 020 3100
Richard Bootle 2000
Vigo Communications www.vigocomms.com
Jeremy Garcia / Fiona Henson Tel: 020 7830
9700
About CityFibre:
CityFibre is the national builder of Gigabit Cities, as the UK's
largest alternative provider of wholesale fibre network
infrastructure. It has major metro duct and fibre footprints in 42
cities across the UK and a national long distance network that
connects these cities to major data-centres across the UK and to
key peering points in London.
The company has an extensive customer base spanning service
integrators, enterprise and consumer service providers and mobile
operators. Providing a portfolio of active and dark fibre services,
CityFibre's networks address 28,000 public sites, 7,800 mobile
masts, 280,000 businesses and 4 million homes.
CityFibre is based in London, United Kingdom, and its shares
trade on the AIM Market of the London Stock Exchange (AIM: CITY).
Further information on the company can be found at
www.cityfibre.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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