• Revenue Growth: 9.3% increase over the last six months.

• EBITDA Growth: 15.2% increase over the last six months.

• NAV Growth: 5.4% increase, reaching 124.4p per share.

• Interim Dividend: 2.1p per share, covered 4.7 times by EBITDA and 1.8 times by free cash flows.

• Net Debt to EBITDA Ratio: 4.2 times, considered conservative.

• Emitel Revenue Growth: 9% increase.

• Emitel EBITDA Growth: Just under 16% increase.

• CRA Revenue and EBITDA Growth: Both increased by 16.5%.

• Speed Fibre Revenue Growth: 5% increase.

• Speed Fibre EBITDA Growth: 7% increase.

• Hudson Sales Growth: Just over 1% increase.

• Debt Maturities: No maturities until mid-2029.

• Liquidity: GBP243 million, mostly in undrawn growth CapEx facilities.

• Warning! GuruFocus has detected 5 Warning Sign with LSE:CORD.

Release Date: November 27, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Cordiant Digital Infrastructure Ltd (LSE:CORD) reported a 9.3% increase in revenue and a 15.2% rise in EBITDA over the last six months, showcasing strong financial performance.

• The company's NAV increased by 5.4%, with a per-share value of 124.4p, indicating solid asset growth.

• Cordiant Digital Infrastructure Ltd (LSE:CORD) announced an interim dividend of 2.1p per share, fully covered by EBITDA and free cash flows.

• The company successfully acquired a promising data center platform in Belgium at a favorable price, enhancing its portfolio.

• Cordiant Digital Infrastructure Ltd (LSE:CORD) maintains a conservative debt strategy with a net debt to EBITDA ratio of 4.2 times, ensuring financial stability.

Negative Points

• The company faces a discount to NAV in the marketplace, which is seen as a buying opportunity but reflects market undervaluation.

• There was a substantial negative FX movement of GBP22.6 million due to the strengthening of sterling against the Czech crown and Polish zloty.

• Cordiant Digital Infrastructure Ltd (LSE:CORD) has limited capital to pursue larger acquisitions, focusing instead on smaller bolt-on acquisitions.

• The Hudson asset experienced only a slight increase in sales, highlighting potential growth challenges in that segment.

• The company is unable to pursue a significant opportunity in the UK due to capital constraints, limiting expansion potential.

Q & A Highlights

Q: Can you provide an update on the capacity at Hudson and the value of additional capacity given the growth pace? A: We have two floors at Hudson, with one fully sold out and about 50% of the second floor sold. We are currently building new data halls, which are partitioned sections with their own air conditioning and security, to meet the demand for new customers.