Press releases

London, UNITED KINGDOM - 21 December 2011 - euNetworks Group Limited (SGX: H23.SI), today announced the implementation of a new management structure, ensuring close alignment of key functions as the business scales further. In association with that new structure, the Company also announced two appointments to the Board of Directors, effective 1 January 2012.

John Scarano has been appointed Vice Chairman to the euNetworks Board of Directors and Executive Vice President of the Group, responsible for Finance, Operations, IT and Corporate Development. Prior to this appointment, Mr. Scarano served as Strategic and Corporate Development Advisor to euNetworks. John Franklin, Chief Operating Officer of euNetworks, reports directly to John Scarano, as do existing Finance leads and the Group Finance Director, Justin Bohm.

"euNetworks is a rapidly scaling European bandwidth infrastructure provider, driving value from core assets and investing to deliver further growth," said Brady Rafuse, Chief Executive Officer of euNetworks. "Close alignment and interaction between key functions within the business is vital to effectively support the demand we see from our customers, particularly as we move forward with the next phase of our development."
"With that in mind, we have combined our Finance and Operations teams into one core function, reporting to John Scarano," said Rafuse. "John joined the euNetworks management team earlier this year and was instrumental in acquisition and fund raising activity. He brings with him a wealth of commercial leadership as well as corporate, strategic, financial and operating experience. This new structure provides euNetworks with a service engine, managing our costs and capital deployment through to service delivery, billing and collections within one unit. It is a structure that enables euNetworks to grow, scale and continue to deliver a great experience to our customers."

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London, UNITED KINGDOM - 30 November 2011 - euNetworks Group Limited (SGX: H23.SI), today announced the departure of James Thomas, effective from 31 December 2011.

"Since joining euNetworks in September 2010 I have had the pleasure of working with a high performing, motivated and talented team," said James Thomas. "Much has been achieved during my time with the Company, with establishment of an integrated finance function, delivery of strong financial performance including consecutive positive Adjusted EBITDA for five quarters, the closing of two significant acquisitions, the raising of shareholder loans for interim funding and the successful completion of the recent rights issue. With a strengthened balance sheet, the business is entering a new phase of transformation so now is the right time for me to move on to other opportunities and I wish the team great success for the future."

"James has been a great asset to the business over the last year, building the finance function and supporting key corporate activity to develop and strengthen the business," said Brady Rafuse, Chief Executive Officer of euNetworks. "James has developed a finance function that will continue to develop and support our needs as we move into 2012. We wish him every success in his future role."

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London, UNITED KINGDOM - 11 November 2011 - euNetworks Group Limited (SGX: H23.SI), announced strong third quarter results, with a further acquisition, a successful rights offering and continued sustained growth of the business.

Following the acquisition of LambdaNet Deutschland Communications AG ("LambdaNet") in 2Q 2011, euNetworks completed the acquisition of TeraGate AG Storage Optical Network ("TeraGate") on 29 July 2011. The results announced today include a full quarter of LambdaNet financials and two months of TeraGate financials.

In connection with the LambdaNet acquisition in May 2011, the Group announced the intention to undertake a rights issue. That was completed on 6 September 2011, raising more than €72m. The proceeds have repaid shareholder loans and the accumulated interest associated with funding recent acquisitions. The balance will support customer oriented capital expenditure, working capital and fund further growth opportunities.

euNetworks delivered significant growth in the quarter, both excluding and including the financials of the two acquired companies. Total revenues grew by 117% year on year, from €11.1m in 3Q 2010 to €24.1m in 3Q 2011. Recurring revenues were €21.2m, up 114% from 3Q 2010. Network revenues continued to grow, up 146% to €19.2m in 3Q 2011. Excluding LambdaNet and TeraGate, network revenues grew 38% year on year and by 27% from 2Q 2011. Gross profit in the quarter increased by 98% to €15.8m, up from €8.0m in 3Q 2010. Gross margin declined to 65.6%, largely reflecting the addition of LambdaNet and TeraGate to the Group. As euNetworks continues to integrate these businesses, leveraging euNetworks' network, the Group anticipates improvement in gross margin. Adjusted EBITDA1 was €4.3m for the quarter, indicating further improvement as the business scaled. Excluding acquisition costs of €0.2m relating to TeraGate and €0.3m of one-off restructuring costs, which were expensed in the period, underlying Adjusted EBITDA was €4.8m.

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London, UNITED KINGDOM - 18 October 2011 - euNetworks Group Limited (SGX: H23.SI), has announced that it has completed a rights issue raising more than €72m (S$126m1) in the process. Valid acceptances and excess applications for a total of 8,494,291,524 rights shares were received, representing 98.2% of the available issuance. The proceeds have repaid the shareholder loans raised to fund the recent acquisitions. The balance will support customer oriented capital expenditures, working capital and fund further growth opportunities.

In May 2011, the Company announced and completed the acquisition of LambdaNet Communications Deutschland AG. In connection with the acquisition, euNetworks announced the intention to undertake a renounceable non-underwritten rights issue of new ordinary shares. euNetworks' substantial shareholders provided loans to cover the acquisition price pending completion of the rights issue. These loans also covered the acquisition of TeraGate AG Storage Optical Network in July 2011, as well as organic growth from normal operations.

"Following the completion of this rights issue, our business has a strengthened balance sheet, supporting our organic plans," said Brady Rafuse, Chief Executive Officer of euNetworks. "Maintaining a high performing networking and service delivery experience for our customers remains our first priority. Funding customer projects to drive organic growth is a close second. Remaining well positioned to make acquisitions opportunistically is third."

"In an economic environment that continues to challenge across countries and industries, I am very encouraged by the results we are delivering month-on-month and our position today," said Rafuse. "Our business depth and scale continues to develop, further enabling euNetworks to serve a widening array of customers and segments whose bandwidth requirements are only increasing. Mobile, Wholesale, Finance, and Enterprise sectors are among the highest growth opportunities."

Following rights issue completion, euNetworks' top shareholders include a range of sophisticated institutional and individual investors.

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London, UNITED KINGDOM - 17 October 2011 - euNetworks Group Limited (SGX: H23.SI), today announced the appointment of a new Director to the Board. This appointment is effective 17 October, 2011.

Duncan Lewis joins as an Independent, Non-Executive Director and will also take up the position of Chairman of the Nominating Committee for euNetworks. He has worked in the telecommunications and media industry for more than 25 years, holding Chief Executive, Managing Director and Chairman positions. Most recently Mr. Lewis was Chief Executive Officer of Vislink plc, stepping down from this position in March 2011. He has held similar positions at companies such as GTS Inc, Equant, Granada Media Group and Mercury Communications. His previous Director appointments include Chairman of Euphony Holdings, Mobix Interactive, MessageLabs and Sinotel Limited. He was also a Non-Executive Director of Viridian plc from 2002 to 2006 and an Independent Director of Completel from 2002 to 2008. Between 2002 and 2008, he served as an advisor to The Carlyle Group. Today Mr. Lewis is an Independent Director of Spirent Communications plc, and is a member of their Remuneration Committee.

"We are delighted to welcome Duncan to the euNetworks Board," said Brady Rafuse, Chief Executive Officer of euNetworks. "Duncan brings with him a wealth of industry experience and is a strong addition to the team as we continue to grow our business. His extensive Board and management experience is valuable to our continued development in Europe."

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London, UNITED KINGDOM - 3 August 2011 - euNetworks Group Limited (SGX: H23.SI), announced strong second quarter results, with significant sales and revenue growth. In addition, the Group completed the acquisition of LambdaNet Deutschland Communications AG ("LambdaNet") on 31 May 2011. The results announced today include one month of LambdaNet financials.

Total revenues grew by 43% year on year, from €10.2m in 2Q 2010 to €14.6m in 2Q 2011 and were all recurring. Gross profit in the quarter increased by 43% to €10.7m, up from €7.5m in 2Q 2010. Gross margin declined slightly to 73.3%, largely as a result of LambdaNet, reflecting the enterprise nature of LambdaNet's services and their lack of metropolitan assets. Over time euNetworks is optimistic on an improvement in gross margin as LambdaNet services are brought on-net, leveraging euNetworks' network. Adjusted EBITDA(1) continued to improve and was €1.1m for the quarter. Excluding acquisition costs relating to LambdaNet, which were expensed in the period, underlying Adjusted EBITDA was €1.5m.

For the half year, total revenues grew by 32% from 1H 2010 to €25.1m. Gross profit for 1H 2011 increased by 33% to €18.5m and gross margin was slightly up, reaching 73.7%. Adjusted EBITDA was €1.5m in 1H 2011 compared to €(3.5)m in 1H 2010.

"It has been an exciting quarter for euNetworks," said Brady Rafuse, Chief Executive Officer of euNetworks. "We continue to deliver strong growth in our core business, with foundational work undertaken in 2010 driving us forward in this first half of 2011. Our on-net buildings, a key indicator of our performance, have grown from 365 at the beginning of 2011, to 489 at exit and we have many more in progress. We have also introduced inorganic growth to the business with the acquisition of LambdaNet and most recently TeraGate AG Storage Optical Network ("TeraGate"). Our results this quarter were ahead of management expectations and we have a strong funnel of opportunity moving into the third quarter. While we maintain focus on growing our core business, the scale and synergies offered from integrating LambdaNet and TeraGate into the euNetworks operating model creates an exciting opportunity for us in the quarters ahead."

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London, UNITED KINGDOM - 1 August 2011 - euNetworks Group Limited (SGX: H23.SI), announced it has optimised the important London to Frankfurt low latency route on its dedicated finance network. This optimisation ensures euNetworks continues to deliver leading latency to the trading community, supporting their need for ever improving trading speed. euNetworks' direct exchange-to-exchange connectivity, linking key Finance Exchanges and Multilateral Trading Facilities (MTFs) in London to Frankfurt, is now done with a lowest one way latency of 4.29 milliseconds. Additionally, following optimisation from Slough, west of London, to Frankfurt, one way latency on this route is now 4.56 milliseconds.

euNetworks offers market leading latency performance from all major capital markets across Europe, enabling greater access to its euTrade service portfolio.

"We are committed to delivering the leading low latency solutions in the market to our customers," said David Selby, Vice President, Product and Strategy at euNetworks. "We continue to invest and optimise our routes to ensure we deliver the network performance that our customers need to maximise their business potential. London to Frankfurt is a key route for the financial community and our optimisation positions euNetworks as the connectivity partner of choice."

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London, UNITED KINGDOM - 29 July 2011 - euNetworks GmbH, a subsidiary of euNetworks Group Limited (SGX: H23.SI), announced today that it has executed and completed a definitive agreement to acquire German based TeraGate AG Storage Optical Network ("TeraGate"), a company of DB Industrial Holdings Beteiligungs GmbH & Co. KG (a subsidiary of Deutsche Bank AG), and of EGORA Holding GmbH. The acquisition is a natural addition to the Group following the LambdaNet acquisition, with an enterprise customer base predominantly served in the German market. The acquisition closed today.

 

TeraGate is a leading service provider for next generation Corporate WAN in Germany with a high-end customer base and a market leading value proposition. Offering both national and international solutions to medium and large enterprises, TeraGate's product portfolio is based on intelligent Ethernet and efficient data centre and cloud services. TeraGate operates in Germany, headquartered in Munich, with technical headquarters in Frankfurt.

 

"The acquisition of TeraGate was a natural next step for us following the LambdaNet acquisition as we continue to develop our German business," said Brady Rafuse, Chief Executive Officer of euNetworks. "TeraGate has a great customer base, who predominantly purchase multiple services across 7 of the existing euNetworks metropolitan markets in Germany. Leveraging euNetworks' legacy metropolitan footprint, we expect to be able to bring over 50 buildings on-net, eliminating network expense. Additionally, LambdaNet's Pan German footprint and operations are expected to provide further synergies."

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London, UNITED KINGDOM - 25 July 2011 - euNetworks GmbH, a subsidiary of euNetworks Group Limited (SGX: H23.SI), announced today that it has signed a strategic partnership with Vodafone Germany, delivering Fibre services to the mobile operator in Frankfurt, Hamburg, Berlin and Munich. The agreement also provides a framework to enable Vodafone to benefit from euNetworks extended footprint.

Vodafone Germany is leading the roll out of the LTE network throughout Germany. More than 4 million households in Germany can already be provided with high speed LTE internet by Vodafone since the wireless frequencies were auctioned off in 2010. Fibre optic networks are a key component of the underlying infrastructure required to support this new mobile standard.

"LTE delivers a technological quantum leap for the industry, and is the first gigabit technology in the mobile sector," said Hartmut Kremling, Chief Technology Officer of Vodafone Germany. "A strong underlying fibre optic network is important for us as we roll out LTE across Germany. euNetworks has this network in key markets. Their demonstrated commitment to this partnership and unique assets deliver great value to our overall network strategy."

"We are delighted to be working with Vodafone on this important development in the mobile sector," said Brady Rafuse, Chief Executive Officer of euNetworks. "As a bandwidth infrastructure provider, with deep fibre assets in Germany, we have the capability and network in place to support Vodafone with a fibre backhaul for their LTE roll out programme. We are working closely together, delivering the underlying infrastructure that is set to support the exponential growth in mobile data traffic."

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London, UNITED KINGDOM - 31 May 2011 - euNetworks GmbH, a subsidiary of euNetworks Group Limited (SGX: H23.SI), announced today that it has closed its previously announced transaction to purchase LambdaNet Communications Deutschland AG.

Combined, euNetworks and LambdaNet will manage fibre based connectivity to 37 cities in 9 countries. This longhaul connectivity combined with the fibre based metropolitan networks in operation today, supports the growing high-bandwidth needs of its customers.

The combined people, network reach, depth and capability brings greater scale opportunities for euNetworks. The cash flow will enable further deployment of custom fibre-based network solutions across Western Europe in line with demand.

"We are moving forward with our integration plans, working quickly to deliver network synergies from combining the LambdaNet business with euNetworks," said Brady Rafuse, Chief Executive Officer of euNetworks. "With added on-net reach and an expanded product portfolio, customers will benefit from deeper and richer solutions from euNetworks. I am excited for the opportunity ahead."

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London, UNITED KINGDOM - 19 May 2011 - euNetworks GmbH, a subsidiary of euNetworks Group Limited (SGX: H23.SI), announced today that it has reached a definitive agreement to acquire German based LambdaNet Communications Deutschland AG, a 100% subsidiary of the listed company 3U HOLDING AG. The purchase price is a cash payment of €25m (subject to adjustment) plus a payment of principal of €2m on an existing intercompany loan as well as an assumption of certain financial guarantees. LambdaNet will retain the balance of the intercompany loan payable to 3U HOLDING AG of €7.8m. Additionally LambdaNet is expected to have long term capital leases of €10m at closing. The acquisition will significantly strengthen euNetworks' position in the market, particularly in Germany.

LambdaNet's service portfolio includes Ethernet, Wavelength, Colocation, Internet Protocol (IP) based data services and other transmission services. These are delivered to both carriers and enterprises, primarily throughout Germany. LambdaNet operates in Germany and has network and subsidiaries in the Czech Republic and Austria. The business offers services out of 25 data centres across Germany. According to LambdaNet's audited financial results for 2010, the business generated total revenues of €36.8m and EBITDA of €9.7m in the financial year ended 31 December 2010.

"This is a transformational acquisition for our business," said Brady Rafuse, Chief Executive Officer at euNetworks. "Combining LambdaNet with the current euNetworks business will bring us much greater scale to our core German business, as well as adding great customers, people and assets. Over the last 18 months we have been focused on implementing our operational model and delivering strong organic growth. We have however always believed that there is great inorganic growth potential in the market as well. We intend to actively participate in market consolidation where appropriate, and have highly motivated investors supporting us in this activity."

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London, UNITED KINGDOM - 12 May 2011 - euNetworks Group Limited (SGX: H23.SI), announced strong first quarter results, with further improvement in key fundamentals. Total revenues grew by 19% year on year, from €8.8m in 1Q 2010 to €10.5m in 1Q 2011. All revenues were recurring in the quarter. Gross profit for the quarter increased by 22% from 1Q 2010. Gross margin for the quarter was 74.3%, up from 72.7% in 1Q 2010 and 70.1% in 4Q 2010. Adjusted EBITDA(1) was €0.4m for the quarter, achieved on the basis of recurring revenue and continuing the positive progression as the business scales.

"These results are a good start to the year and our funnel of opportunity continues to grow," said Brady Rafuse, Chief Executive Officer of euNetworks. "Sales were strong in the period and will generate new revenues in the next couple of quarters. Our key financial metrics have continued to improve, with growth in revenues year on year, increasing gross margin and positive adjusted EBITDA for the quarter. Our product set is meeting our customer's bandwidth needs, with continued traction in both key and new market segments. I am encouraged by this first quarter performance and look forward to the year ahead."

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London, UNITED KINGDOM - 11 May 2011 - euNetworks Group Limited (SGX: H23.SI), announced it has launched a low latency route, adding Milan to its dedicated finance network. Delivering one of the shortest routes in the market today, euNetworks provides direct exchange-to-exchange connectivity, linking London to Milan with a one way latency of 8.81 milliseconds, Frankfurt to Milan in 4.71 milliseconds and Zurich to Milan in 1.98 milliseconds.

 

euNetworks offers market leading latency performance from all major Multilateral Trading Facilities (MTFs) across Europe, enabling greater access to its euTrade service portfolio.

 

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London, UNITED KINGDOM - 9 May, 2011 - euNetworks Group Limited (SGX: H23.SI), today announced it has launched a new low latency route, adding Zurich to its dedicated finance network. The Company is delivering a low latency solution to Equinix's ZH4 International Business ExchangeTM (IBX®) data centre in Zurich. The new low latency route provides financial services firms with direct access to SIX Swiss Exchange from London with one way latency of 6.83 milliseconds, and from Equinix's Frankfurt data centre (FR2), with one way latency of 2.74 milliseconds. euNetworks now offers market leading latency performance from all major Multilateral Trading Facilities (MTFs) across Europe, enabling greater access to its euTrade service portfolio and some of the shortest routes in the market today.

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London, UNITED KINGDOM - 23 March 2011 - euNetworks Group Limited (SGX: H23.SI), announced a partnership agreement with MESH GmbH, enabling MESH customers to benefit from euNetworks' high bandwidth connectivity solutions while using the Enterprise grade Cloud platform of MESH GmbH.

 

As a European bandwidth infrastructure provider, euNetworks owns and operates 13 deep fibre based metropolitan networks in 5 countries, connected with a high capacity intercity backbone for city-to-city connection. With deeply meshed architecture in the cities, the euNetworks footprint connects up all major Internet exchange points, and data centres, as well as a number of high bandwidth intensive buildings. The network design enables easy fibre based connections to new buildings, delivering the ability to scale capacity in line with a customer's growing bandwidth demands. euNetworks offers connectivity solutions ranging from dark fibre, dedicated fibre, wavelengths and Ethernet with guaranteed latency, security and scalability.

 

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London, UNITED KINGDOM - 1 March 2011 - euNetworks Group Limited (SGX: H23.SI), announced strong quarterly and full year results, with further improvement in key fundamentals. Total revenues grew quarter over quarter by 23%, from €11.1m in 3Q 2010 to €13.7m in 4Q 2010, and by 49% from 4Q 2009. The Group achieved €10.9m in recurring revenues in the quarter, up 10% from 3Q 2010, with non recurring infrastructure sales of €2.8m (€1.2m in 3Q 2010). Gross profit for the quarter increased by 39% year on year to €9.6m, and by 20% from the preceding quarter. Gross margin for the quarter was 70%. Underlying gross margin, excluding non recurring infrastructure sales, was 72%, up from 71% in 3Q 2010. The Group delivered positive adjusted EBITDA(1) in the quarter of €1.8m, up from €0.8m in 3Q 2010.

For the full year, the Group grew total revenues by 32% to €43.8m, with recurring revenues of €39.2m, up 21% from 2009. Network revenues increased significantly from 2009, growing by 55% to €30.4m, with recurring network revenues growing by 37% to €25.8m. Non recurring infrastructure sales in the year were €4.6m. Gross profit for the year increased by 30% to €31.5m. Gross margin was 72%, slightly lower than 73% in 2009, driven by non cash costs associated with non recurring infrastructure sales and lower margins from Internet Protocol (IP) revenues. Underlying gross margin, excluding non recurring infrastructure sales, was 72.7%. Adjusted EBITDA(1) in 2010 was €(0.9)m following two consecutive quarters of positive quarterly adjusted EBITDA. The Group remains focused on this trend in quarters to come, whilst continuing to invest to drive top line revenue growth.

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London, UNITED KINGDOM - 16 December 2010 - euNetworks Group Limited (SGX: H23.SI), announced it has launched a new ultra low latency route from London to Stockholm, marking the completion of the latest phase of its network development programme dedicated to the financial services community. Following high demand in the third quarter for new routes linking Slough to London and London to Frankfurt, with more than 22 new contracts signed, this new London to Stockholm route further strengthens euNetworks' euTrade service portfolio and provides one of the shortest routes in the market today.

 

euNetworks has again demonstrated its industry leading deployment capability, reducing the previous leading latency on the London to Stockholm route by 12%. This new straight point-to-point route offers a round trip time of 22.4 milliseconds.

 

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London, UNITED KINGDOM - 11 November 2010 - euNetworks Group Limited (SGX: H23.SI), announced total revenues for the third quarter of €10.3 million, up 40% from 3Q 2009 and 11% on 2Q 2010. The Group achieved €9.1 million in recurring revenues in the quarter, up 24% from 3Q 2009, with €1.2 million of one offs. Gross profit for the quarter increased by 38% year on year to €8.0 million, and by 7% on the preceding quarter. Gross margin dropped slightly to 77% in the quarter from 80% in 2Q 2010. This was largely due to the timing of costs associated with the setting up of new euTrade routes in advance of taking on revenue and also certain one-off costs relating to Internet Protocol (IP) Transit. The Company continued to carefully manage costs while growing revenues, achieving positive Adjusted EBITDA1 of €0.8 million for the quarter.

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London, UNITED KINGDOM - 13 September 2010 - euNetworks Group Limited (SGX: H23.SI), announced the appointment of James Thomas to the management team, taking up the role of Chief Financial Officer (CFO) for the company. This appointment is effective 14 September 2010, based at the London headquarters of the business, and completes the euNetworks leadership team. He will also join the Board of Directors.

 

James Thomas joins euNetworks as CFO following a number of years working in the telecoms industry. Most recently Mr. Thomas was Group Finance Director for TalkTalk Telecom Group Plc, leading the de-merger activities from the Carphone Warehouse Group Plc. He worked for the Carphone Warehouse Group Plc from 2004 as the Finance Director of the TalkTalk business unit. Thomas has worked for Deloitte and Andersen as a management consultant, providing strategy, operational and financial services to technology, media and telecoms clients. He also gained valuable audit experience, working in the Arthur Andersen audit practice for five years. He is a qualified chartered accountant in the United Kingdom and has a Master of Business Administration from Manchester Business School.

"I am absolutely delighted that James has joined the euNetworks team," said Brady Rafuse, Chief Executive Officer of euNetworks. "The role of CFO at euNetworks is fundamental to our development and the scaling of our business. James has strong experience driving growth businesses forward and is a great fit in the team. His financial skills and international experience are hugely valuable assets, and he will lead the building of our finance function and work with me to solidify our institutional relationships within the financial community."

 

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London, UNITED KINGDOM - 2 September 2010 - euNetworks Group Limited (SGX: H23.SI), announced it has launched a new ultra low latency route from London to Frankfurt. The company has one of the shortest routes in the market today that is uniquely optimised for connectivity into Multilateral Trading Facilities (MTFs) and key data centres. This new route further demonstrates the in-house capability that euNetworks has developed, building ultra low latency connectivity networks to support the bandwidth needs of its growing financial client base. This also marks the completion of the second phase in the development of euNetworks' network dedicated to the financial services community.

 

The new London to Frankfurt route coupled with the new Slough to London route, delivers a unique solution for the trading market, avoiding unnecessary Carrier points of presence and delivering industry leading latencies for direct exchange-to-exchange connectivity.

 

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London, UNITED KINGDOM - 1 September 2010 - euNetworks Group Limited (SGX: H23.SI), announced it has launched the first phase of an overlay network, dedicated exclusively to the needs of the financial community. The network platform is supported by dedicated fibre and dedicated optronics, ensuring euNetworks' euTrade services provide the lowest possible latency. As a company who specialises in designing, engineering and building ultra low latency connectivity networks, deploying a network exclusively for the finance market is a natural step in continuing to support the bandwidth needs of the financial services community. Optimising fibre routes, avoiding unnecessary Carrier Points of Presence (PoPs) and deploying latest generation optical transmission equipment has enabled industry leading latencies for direct exchange-to-exchange connectivity, a key requirement for the trading market today.

 

As part of a network development programme underway, euNetworks has launched a new ultra low latency route running from Slough in West London to key financial exchanges and data centres in the City of London. euNetworks has reduced the latency on this critical route by over 20% and is now providing sub 500 microsecond round trip connections between Slough and sites in the City of London.

 

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London, UNITED KINGDOM - 13 August 2010 - euNetworks Group Limited (SGX: H23.SI), announced quarterly growth in total revenue of 29% against 2Q 2009, achieving €9.4 million revenue. The Group achieved €8.8 million in recurring revenue in 2Q 2010, with €0.6 million in one offs, and grew total revenue by 16% against 1Q 2010. Gross margin was 80% in the quarter, flat from 1Q 2010 and similar to 2009. Gross profit increased by 27% from 2Q 2009 to €7.5 million, and adjusted EBITDA broke even against a loss of €0.8 million. Net loss for the period was €14.4 million after an exceptional charge of €2.6 million related to the redemption of the balance of the 2012 bond.

 

For 1H 2010, total revenue was €17.4 million, growing 21% from 1H 2009. Gross profit increased by 20% to €13.9 million, with gross margin of 80%. Adjusted EBITDA loss increased to €1.7 million against €0.6 million. Net loss for the first half 2010 was €22.8 million after exceptional charges of €2.6 million related to the redemption of the balance of the 2012 bond in 2Q 2010.

 

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London, UNITED KINGDOM – 20 July 2010 - euNetworks Group Limited (SGX: H23.SI), announced it has been named a supplier of connectivity to NYSE Euronext’s SFTI® Access Centres, enabling firms to connect to the SFTI® Optic service to access their racks within the new NYSE Euronext European Liquidity Centre. euNetworks provides networking services that form part of the NYSE Euronext European backbone. As a supplier of connectivity to key access centres, euNetworks now supports the networking requirements of NYSE Euronext clients.

NYSE Technologies’ Secure Financial Transactions Infrastructure® (SFTI®) network provides a single point of connectivity with lowest-latency access to multiple markets. It is designed to be the industry’s most secure and resilient network, specifically built for electronic trading and market data traffic. SFTI® Optic is the new wavelength service, launched for the first time to offer lowest latency access specifically for colocation customers within the new NYSE Euronext European Liquidity Centre.

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London, UNITED KINGDOM – 14 June 2010 - euNetworks Group Limited (SGX: H23.SI), announced the appointment of John Franklin to the management team, taking up the role of Chief Operating Officer (COO) for the company. This appointment is effective 14 June 2010, based at the London headquarters of the business.

John Franklin joins euNetworks as COO following a number of years working in the telecoms industry, both in Europe and internationally. Franklin’s career spans companies such as British Telecom, Level 3 Communications, Alcatel Telecommunications and GPT Telecommunications. Most recently he was Cluster Director for Leased Access globally at British Telecom. Franklin managed the development of Level 3’s Internet Protocol fibre- based network backbone in Europe before moving into roles that gave him product, engineering, operational and technology responsibility within the global business. His experience fits well with the demands he will face as COO of euNetworks

“The addition of John Franklin to euNetworks further strengthens what is already an impressive line up of industry experience in the team,” said Brady Rafuse, Chief Executive Officer of euNetworks. “This is a key position for the business as we move forward with plans in place. John brings us the skills we need operationally to drive forward with key projects that are crucial to a successful operating model. He will bring great value to the business.”

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London, UNITED KINGDOM – 13 May 2010 - euNetworks Group Limited (SGX: H23.SI), announced quarterly growth in total revenue of 14% against first quarter 2009, achieving €8.0 million revenue. Gross Margin was 80%, remaining constant compared to first quarter 2009. Revenue growth has been accompanied by a 14% increase in direct costs from first quarter 2009. Focus on growing long term recurring revenue continued in the quarter, with 13 new customer wins in the finance, wholesale and media segments, with an average contract length of 25 months.

At the beginning of 2010, the Company changed the way gross profit is presented. Gross profit is now determined as revenues less expenses directly related to revenues, or „Direct Network Expense‟. The management and directors of the Company believe that this presentation of gross profit is in line with standard telecoms industry practice and will provide a clearer picture of the profitability of current and future customer revenues.

“We have made good progress through the first quarter, delivering revenue growth, gaining more long term recurring revenue contracts and establishing customer relationships which will deliver further revenue growth to the business in the future,” said Brady Rafuse, Chief Executive Officer of euNetworks. “Improving our position in the European market as a bandwidth infrastructure provider is crucial as we move through 2010. Following the simplification of our product portfolio in the quarter along with increasing our local focus to leverage market growth opportunities, I am confident we are moving forward with our plan. The completion of the Rights Issue on 6 April 2010 and a growing sales funnel provides a solid platform for the year.”

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London, UNITED KINGDOM – 12 April 2010 - euNetworks Group Limited (SGX: H23.SI), today announced the appointment of two new Directors to their Board. These appointments are effective 12 April, 2010.

Daniel Aegerter is Chairman and Founder of Armada Investment Group which he established as his family office organisation following the successful merger of his B2B software company, TRADEX Technologies, with Ariba for $5.6 billion in March 2000. As Chairman and Chief Executive Officer of TRADEX, Aegerter was responsible for setting the strategic direction for the company. Since that time and in his position at Armada Investment Group, he has been actively involved in initiating private equity and venture capital transactions, and has invested across asset classes and regions. He founded his first business in 1988 and is involved in several social investment projects and is a member of the World Economic Forum. Aegerter is a long standing investor in euNetworks.

Kai-Uwe Ricke has worked in the telecommunications industry for nearly 20 years, and was Chief Executive Officer of Deutsche Telekom AG. Today he is Partner and Chairman of the Board for Delta Partners and is also active in private equity. He is an investor and a member of the advisory board of Kabel Baden-Württemberg and a member of the advisory board of Exigen Capital, a U.S. based private equity firm. Ricke holds seats as Independent Director on the managing boards of Italian Insurance company Generali SpA and the Dubai based Oger Telecom Ltd. He also serves as a member of the supervisory board of United Internet AG, Germany.

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London, UNITED KINGDOM – 26 February 2010 - euNetworks Group Limited (SGX: H23.SI), announced quarterly growth in total revenue of 25% against fourth quarter 2008, achieving €8.5 million revenue. This growth includes one-off revenue of €0.8 million relating to asset sales. Excluding one-offs, recurring revenue grew 13% against fourth quarter 2008. Gross margin was 48% in the quarter, up from 43% in 2008. During the quarter, 24 new customers were signed. The net loss from operations, and before exceptional items was €5.6 million, improving from €7 million in quarter four 2008.

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AMSTERDAM, 9th February 2010 - Interxion, a leading European operator of carrier-neutral data centres, and euNetworks, Europe’s foremost provider of mission-critical, high-performance data services, today announced a non-exclusive partnership to provide traders with turnkey pan-European colocation and low-latency access to key liquidity venues. Solution delivery will be supported through euNetworks’ presence in Interxion data centres in France, Germany, Ireland, the Netherlands and the United Kingdom and combines Interxion’s Financial Hub offering for capital markets participants with the euTrade, next-generation pan-European trading solution.

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