euNetworks - euNetworks Reports 32% Growth in 1H09 Revenue

London, United Kingdom, 14 August 2009 - euNetworks Group Limited, (SGX: H23.SI), a foremost provider of mission-critical, high-performance networking solutions in Europe, has appear a 32% advance in acquirement to €14.3 actor for the six months concluded 30 June 2009 (“1H09”), compared to €10.8 actor accomplished in the aforementioned aeon a year ago (“1H08”). Driving this advance in acquirement was the signing of 93 new alternating acquirement affairs account over €9 million, calm with the accession of 24 new chump contracts, the aggregate of these advancing from the banking casework and trading sectors.

Noel Meaney, Executive Chairman, commented, “We had a actual auspicious half-year, with a abundant amount of new barter anchored and a able authorization from absolute barter in the anatomy of added new contracts. We aswell accomplished a amount of noteworthy milestones which should position us able-bodied to capitalise on opportunities in the future.”

Improved Gross Profit and First-Half Net Profitability
Along with the added revenue, the Group aswell accomplished a cogent advance in gross allowance to 45% in 1H09, compared to 40% in 1H08.

In the additional division of 2009 (“2Q09”), the Group auspiciously completed a armamentarium adopting exercise, which appropriately enabled it to buy aback some €43.8 actor account of Convertible Bonds. These bonds were re-purchased at a abatement to the face value, and appropriately resulted in an aberrant accretion of €6.96 million. Taking into application this non-recurring gain, the Group appear a net accumulation of €2.0 actor for 1H09, compared to a net accident of €6.2 actor for the agnate aeon in 2008 (“1H08”).

Significant Events in 1H09
Executive Appointments to Drive Growth and Corporate Development
In March 2009, euNetworks’ Chairman & CEO, Noel Meaney appear his accommodation to abandon his position as CEO, and apply on his role as Executive Chairman with primary albatross for cardinal accumulated development. In band with this, the Group appointed Brady Rafuse, above President & CEO of European Operations for Level 3, as its CEO. With added than 20 years of acquaintance in the telecoms industry, and the Group believes that Mr Rafuse’s abundance of ability and acquaintance will serve to advance euNetworks’ advance in 2009 and beyond.

Rights Issue
In April 2009, the Group auspiciously aloft S$92 actor from a allotment cable and a Rights Issue which was 15.3% over-subscribed. This was a aural vote of aplomb for euNetworks accustomed the arduous bread-and-butter ambiance at that point in time. The Group has back activated S$60.1 actor of the gain to accord 100% of convertible band due for claim in 2011, and redeem €14.5 actor of its 2012 bond, appropriately abbreviation the arch aggregate of convertible bonds from €61.3 actor to €17.5 million.

In affiliation with this Rights Issue, the Group aswell accustomed on axle a new abundant shareholder, EUN Partners V, LLC, a wholly-owned accessory of Columbia Capital V, LLC. With the abutment of Columbia Capital, as able-bodied as its added key shareholders, euNetworks is assured that it is now strategically positioned to abound and maximise its admired arrangement infrastructure.

Outlook
For the blow of the year, the Group expects macroeconomic altitude to abide arduous for the telecommunications area in Europe, as account constraints in both action and broad markets are accepted to drive spending patterns below celebrated levels. Along with this, amount compression will aswell abide to be top as competitors vie for abate bazaar opportunities.

This aswell represents absolute opportunities for euNetworks as abeyant barter tend to adjourn architecture their own arrangement basement in these altitude and instead seek managed bandwidth solutions of the blazon in which euNetworks specialises.

Brady Rafuse, CEO of euNetworks said, “Enterprise barter who absorb ample bandwidth are now analytic for greater ascendancy over their arrangement infrastructure, focussing on optimising arrangement costs and award added amount able solutions to break their arrangement and business challenges. This change in purchasing behaviour presents a cogent befalling for us to become an addition provider to bounden carriers.”

euNetworks is Europe’s foremost provider of mission critical, top achievement networking solutions. Our €1bn all-optical arrangement delivers a new akin of abandon and performance. We alone action high-performance networking and specialise in solutions for top achievement businesses in the Finance and Media sectors, and Carriers / Service Provider markets. We own 15 city networks throughout Europe, affiliated with a absolutely owned, high-capacity backbone. Because we own the network, we bear above achievement that we contractually guarantee. Our Carrier Grade casework are massively scalable and delivered on-demand, in canicule not weeks.

euNetworks Group Limited is headquartered in London and about listed on the Singapore banal barter (SGX: H23.SI). euNetworks is architect and a affiliate of euro-one, a different accord of fibre optic arrangement providers to bear basement and next bearing networking solutions abutting Eastern, Central, Western Europe and North America (www.euro-one.com).

For added advice amuse appointment www.euNetworks.com.

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