Five year revenue summary (€m)

Five year summary

Five year EBITDA summary (€m)

Five year EBITDA

Cash and deposits summary (€m)

Cash deposits summary

Cash flow (€m)

Cash flow summary

2014 review

  • Colt Group financial performance in 2014 reflected the ongoing transformation of our business, with a disappointing first half, but a second half that delivered to expectations.
  • In May we restructured Colt along four lines of business: Network, Voice, Data Centre and IT Services; helping to bring a renewed focus on leveraging our assets more effectively.
  • In Network Services we introduced growth initiatives including wireless backhaul to Mobile Network Operators as well as targeted plans to fill empty space in network-ready buildings and data centres.
  • In Voice we are particularly pleased with revenue growth in our strategic product areas of VoIP (+27%) and service provider solutions (+30%), outpacing the market. We also successfully exited our low margin carrier voice trading business, resulting in the withdrawal from c.€175m of annualised revenue, but with no material impact on EBITDA and an improvement to Voice profit margins.
  • In Data Centres we renewed our focus on retail colocation and launched a range of value added services.
  • In IT Services, we completed the creation of our foundation cloud platform suite and commenced the process of transitioning customers off legacy platforms. We focused our product portfolio onto three key areas (end user services, enterprise application hosting and business critical web hosting) where we see traction in the market, with propositions that use standardised repeatable components.
  • We transitioned to a Technical Service Desk model, supporting all parts of our business, to service customers more efficiently and effectively. Associated implementation challenges slowed the progress of our Net Promoter Score this year, but first time resolution of customer faults has improved from 20% to 58%.
  • During the year we recruited an additional 69 quota bearing sales people to drive organic revenue development.
  • In December we completed the acquisition of KVH Asia, an infrastructure-based service provider of networks and data centres across Asian cities, with headquarters in Tokyo and operations in Hong Kong, Seoul and Singapore, strengthening Colt's position as a global provider of Network, Voice, Data Centre and IT Services. Consolidated from 22 December 2014, KVH Asia contributed €3.9m to Colt Group revenue and €0.4m to EBITDA in 2014, and delivered pro-forma year-on-year revenue growth of 8.3% and a 12.0% EBITDA margin.