Macquarie Telecom Group today announced its results for the full year ended 30 June 2021, which is in line with guidance.
Chairman Peter James said, “The 2021 full year results delivered the seventh consecutive year of EBITDA growth underpinned by our strategy of investing in Data Centres, Cloud & Cyber Security, including the recent announcement of our new IC3 Super West development, which will provide significant customer growth opportunities in the future.”
Key Points:
- Seven consecutive years of EBITDA growth.
- Full year revenue of $285.1 million, an increase of 7% compared to $266.2 million for FY20.
- Earnings before interest, tax, depreciation, and amortisation (EBITDA) of $73.8 million, an increase of 13% from prior year.
- Conversion of EBITDA to operating cash flows generated total operating cash flows of $45.3 million during the year.
- The Company has completed work on the Intellicentre 3 East data centre development (“IC3”), drawing down $84.0 million of the debt facility this financial year. At 30 June 2021, there is a closing cash balance of $19.8 million and undrawn debt facilities of $58.0 million.
- Net profit after tax (NPAT) of $12.5 million, a decrease of 7.4% on FY20 ($13.5 million) reflecting the increase in depreciation & amortisation flowing from the increased levels of capital expenditure in FY20 and FY21.
- Capital expenditure for FY21 was $139.1 million (FY20: $64.1 million) driven by Growth Capex of $103.6 million primarily relating to investment in IC3 East in Macquarie Park and IC5 South Bunker in Canberra. Customer related Capex was $21.8 million. Maintenance Capex was $13.7 million.
Chief Executive David Tudehope said, “IC3 East (Phase 1) was successfully delivered on budget in FY21, and we announced plans for IC3 Super West – a new data centre which takes the Macquarie Park Data Centre Campus to 50MW IT Load over time. This global scale data centre campus will attract new investment into Australia from multinationals looking to expand in the Asia Pacific region.
“We have decided to increase our investments in Cyber Security, people and technology, to benefit from the increasing demand for business and government to uplift their security defences.
“Our outstanding customer experience as measured by a Net Promotor Score of over 75 has been even more important to our customers as they rely to a greater extent on telecom and cloud services as their staff are predominantly working from home as a result of Covid-19,” said David Tudehope.
