Eurofiber Annual Results 2020
Eurofiber achieves pro forma adjusted EBITDA of EUR 120 million in 2020
Maarssen, 22 April 2021 - In 2020, the companies of the Eurofiber Group achieved a pro forma adjusted EBITDA* of EUR 120 million (2019: EUR 109 million) on pro forma revenues of EUR 202 million (2019: EUR 181 million).
In 2020, Eurofiber continued to implement its European growth strategy. Partnering with Vattenfall, it founded the joint venture Vattenfall Eurofiber, which will build a fiberoptic network in Berlin to connect more than 500,000 households and businesses. The joint venture was approved by the European Commission in 2020 and is expected to connect its first customers in 2021. Similarly, Eurofiber and Proximus signed an agreement in October 2020 to form a joint venture aimed at building a fiberoptic network connecting over 500,000 households and businesses in Wallonia. This contract is also subject to the approval of the European Commission and will be executed as soon as that approval is granted.
Last year, Eurofiber acquired three companies in the Netherlands: Brightfiber, Levelfour (fiberoptic activities only) and MatrixMind (majority share), as well as one in France: FullSave. It also announced the acquisition of Nantes-based fiberoptic network company Lumos. This acquisition was finalized in February 2021. In May 2020, Eurofiber company Dataplace opened its sixth datacenter in Hoofddorp, near Amsterdam. In addition to the datacenters in France, Eurofiber operates ten carrier-neutral datacenters at this time.
In October 2020, Eurofiber welcomed pension investor PGGM as a new shareholder. At the same time, Antin Infrastructure Partners renewed its commitment as majority shareholder, partnering together with PGGM to support the next phase of Eurofiber’s growth. Under Antin’s ownership, Eurofiber had already added more than 19,000 kilometers of fiber network and eight datacenters.
Outlook for 2021
Since March 2020, the COVID-19 pandemic has been affecting all the countries in which Eurofiber operates. However, since digital connectivity and cloud services are now more essential than ever for the economy and society, the crisis has had only a limited impact on Eurofiber’s commercial activities. Delays in network constructions for customers due to government restrictions were also limited, and were rescheduled and completed during the year. Eurofiber’s Executive Board would like to thank all of the company’s customers, partners and colleagues for their excellent contributions and flexibility under these extraordinary circumstances.
* Eurofiber defines adjusted EBITDA as company earnings before depreciation and amortization, adjusted for the effect of any exceptional or extraordinary profits and losses.