Host Europe Announces Significant Growth in Preliminary Annual Report
📅 - European hosting provider Host Europe PLC (hosteurope.com) announced significant company growth today in its annual performance report, including a 65% increase in pro forma revenues.
The company, which provides a complete range of Web hosting services throughout Europe, reported an inflow of £822,000 for the second half of the year and "significant improvement" in a number of important operating metrics between 2000 and 2001. Domains under management increased from 76,000 to over 285,000; shared server accounts rose from 31,000 to 64,000, and the number of dedicated and co-located servers hosted by the company increased from 1,200 to 3,200.
Host Europe's pro forma revenues were £9,713,000, compared to £5,863,000 for 2000. Earnings before interest, tax, depreciation and amortization (EBITDA) showed a profit of £500,000, compared to a loss of £1,268,000 for the previous year.
"We have significantly increased EBITDA profitability and operating cash flow as well as achieving strong growth. We are extremely proud of this achievement, which has been attained against a backdrop of challenging market conditions," said Abby Hardoon, Host Europe's CEO. "Our focus going forward will be to continue to extend our product offering and geographic coverage whilst ensuring we further improve the financial performance of the Group."
Host Europe credited much of its growth to strong operating cash flows and reduced levels of capital expenditure after completing the expansion of its UK data center. The company said it would now focus on investing its internally generated cash flow into the development of its dedicated server offering, particularly in UK and German markets. Host Europe launched a dedicated server division in Germany in June 2001.
Host Europe also operates Dedicated Servers, its UK-based dedicated hosting division, Magic Moments and WebFusion, which offer virtual Web hosting services, and 123-reg.co.uk, a discount domain name registrar.
The company, which provides a complete range of Web hosting services throughout Europe, reported an inflow of £822,000 for the second half of the year and "significant improvement" in a number of important operating metrics between 2000 and 2001. Domains under management increased from 76,000 to over 285,000; shared server accounts rose from 31,000 to 64,000, and the number of dedicated and co-located servers hosted by the company increased from 1,200 to 3,200.
Host Europe's pro forma revenues were £9,713,000, compared to £5,863,000 for 2000. Earnings before interest, tax, depreciation and amortization (EBITDA) showed a profit of £500,000, compared to a loss of £1,268,000 for the previous year.
"We have significantly increased EBITDA profitability and operating cash flow as well as achieving strong growth. We are extremely proud of this achievement, which has been attained against a backdrop of challenging market conditions," said Abby Hardoon, Host Europe's CEO. "Our focus going forward will be to continue to extend our product offering and geographic coverage whilst ensuring we further improve the financial performance of the Group."
Host Europe credited much of its growth to strong operating cash flows and reduced levels of capital expenditure after completing the expansion of its UK data center. The company said it would now focus on investing its internally generated cash flow into the development of its dedicated server offering, particularly in UK and German markets. Host Europe launched a dedicated server division in Germany in June 2001.
Host Europe also operates Dedicated Servers, its UK-based dedicated hosting division, Magic Moments and WebFusion, which offer virtual Web hosting services, and 123-reg.co.uk, a discount domain name registrar.
Reads: 1279 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/eur032802.cfm
Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!