Telecity full year earnings power ahead

Data centre operator Telecity posted a robust set of full year results and said it enters 2013 with a strong recurring revenue base.

Adjusted EBITDA rose 22% to £129.5m for the year ended December 31st 2012 while revenue for the period increased 18% to £283m.

Adjusted diluted earnings per share climbed 28.6% to 31p. Adjusted EBITDA margin rose 150bps to 45.8%.

Michael Tobin, TelecityGroup CEO, said: "The group delivered 29% growth in earnings per share and commenced its progressive dividend policy. Furthermore, we increased our available customer power by 27%, with new site openings and major capacity expansion projects across Europe."

"We have entered 2013 with a strong recurring revenue base and available capacity in all of our key locations. I look forward to another strong operating and financial performance in 2013."

A final dividend of 5p per share has been proposed, taking the total 2012 dividend payment to 7.5p.

CJ