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Best Research Award 2007
Edison Investment Research, winners of 'Best Research Award'
IXEurope
| Date | Reports available | Download |
|---|---|---|
| Mar 07 2007 |
Strong top-line growth IXE delivered strong revenue growth and an EBITDA improvement in-line with expectations. The c.7% increase in the reported Monthly Recurring Revenue (MRR) between November and December 2006 highlights the scaleability of the business and the very high visibility of revenues going forward. With the demand and pricing environment strong we have raised our fair value to 88p (previously 79p) but highlight value to well over 100p if IXE can demonstrate further pricing power and build-out new facilities. Research type: Update - Full year results |
Log in to download 2 page note available |
| Feb 05 2007 |
Fund raising This morning IXEurope announced a £5m fund raising (maximum amount without recourse to shareholders). We view this fundraising as very positive for a number of reasons: (1) it supports the financing of the accelerated build-out, (2) it underlines the current very strong volume and pricing environment for the company, (3) it helps improve the overall financing structure and will make it easier for the company to raise additional debt finance if required, and (4) it helps improve liquidity amongst the equity base. Research type: Flash note - Fund raising |
Log in to download 2 page note available |
| Jan 22 2007 |
Centre forward IXE has demonstrated financial success in building out its portfolio of 14 data centres. We believe that with market demand accelerating strongly the outlook for pricing is positive and the visibility of reaching full capacity across the group is increasing. Valuing IXEurope is not straightforward but we have attempted to analyse a terminal full capacity P&L and have reached a valuation of 79p with significant upside if the company can demonstrate pricing power and find or acquire new data centre facilities. Research type: Outlook - Initiation of coverage |
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Edison's research ... is balanced, objective and provides a level of detail not normally associated with smaller companies.
Peter Knowles
Director, Fyshe Horton Finney