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Infinity delivered 19.3 MVA capacity to customers which went live in their data halls during the 2012/13 financial year. Operating costs increased by 14.5% from £11 million to £12.6 million, and the company generated £12.6 million from trading activities. £47.3 million of capital investment was made in securing additional capacity and fitting out Infinity’s data centre assets. Year end cash totaled £28.5 million.
These are the first set of trading results since Stuart Sutton took over as Chief Executive Officer at Infinity in September 2012, and come following a year in which Infinity has expanded its operations and achieved notable successes. These include:
· A £48m equity funding round in September 2013 to fund the complete fit out of Slough and the remaining space at its data centres at Stockley Park and Romford
· Securing two major new US investors, Caxton Alternative Management LP and Wood Creek Capital Management, LLC
· Completing the agreement for lease for iCITY, Infinity’s joint venture with Delancey to develop a world-leading digital cluster on the Queen Elizabeth Olympic Park, including Infinity Stratford, one of the most efficient data centres in Europe covering 260,000 square foot (fit-out due in 2015) This is a strategic development that will see the company begin to support the fast-growing digital and creative industries, as well as being a particularly attractive location for financial services.
· The handover of its newest facility in Slough from SEGRO and the first fit out phase of this facility
Stuart Sutton, CEO of Infinity SDC, said: “It has been an exciting year for Infinity and these results demonstrate the success of our business strategy. We have secured significant new investment despite challenging debt markets, alongside major new investors from overseas, and have expanded our footprint to meet demand for new data centre facilities in and around the London area with new data centre sites at Stockley Park and Slough.
“Our latest venture in partnership with Delancey will see us develop one of the most efficient data centres in Europe on the Olympic Park, which is an extremely high quality data centre asset with vast connectivity and power. The market for data centre capacity continues to evolve with customers looking for greater flexibility and different combinations of wholesale or colocation capacity. We are shortly to bring our latest product offer to market, and I look forward to continuing to lead Infinity through a period of high growth and expansion.”
