Saturday, November 25, 2017

CyrusOne seeking permission for large Dublin data centre base

Up to 400 jobs are expected to be generated by the new development which will see the provider expand to its fourth country.

US data centre operator CyrusOne has won its first round of approvals in Ireland which could eventually lead to the build of a large facility in the south of Dublin next to Interxion, Google and Microsoft.

According to local media, the total investment could reach €300m over the years, with the number of jobs being created – including construction jobs – amounting to 400.

The reports on CyrusOne Irish development come after a piece-of-land measuring nearly 15 acres was sold to the American data centre operator.

The sale of nearly €6.7m was approved in a meeting of the South Dublin County Council this Monday.

CyrusOne has now to get approval from local authorities to be able to build the data centre at the Grange Castle Business Park.

Data Economy has contacted CyrusOne which was unavailable to comment on the council’s decision and the next steps.

CyrusOne has today nearly 40 operational data centres, mostly in the US. The company also has facilities in Singapore and in the UK.

The company has a current market capitalisation valuated at $4.8bn, ahead of competitors such as DuPont Fabros ($4.6bn).

CyrusOnes has scheduled its Q2 2017 earnings report for August 3, with the majority of analysts remaining positive regarding the company’s financial performance.

In its Q1 2017 results, the operator posted a 27% revenue growth compared to the same period the year before, topping $149.3m in revenues, versus $117.8m in Q1 2016.

However, the company reported a net loss of $30.4m, blamed on a $36.2m loss on extinguishment of debt related to the repurchase or early redemption of the 6.375% Senior Notes due 2022, which were refinanced with new notes having a lower coupon.

For the full year of 2017, CyrusOne expects revenues to sit between $666m and $681m, with capital expenditures amounting to between $600m and $650m (of which $595m to $640m are to be used in business development).