Q2 2024 Cordiant Digital Infrastructure Ltd Earnings Call Transcript
Key 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.
- 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.
Hello, good afternoon. My name is Steven Marshall. I'm Chairman of Cordiant Digital Infrastructure. I'm joined here today with my partner, the Co-Founder, Benn Mikula from Cordiant Capital; and Mark Tiner, who's our CFO, and we'd be delighted to take you through the half-year results. So we go to the next slide.
So it is a great pleasure actually to be here in front of you this morning because these are extraordinary results. We've driven revenue growth over the last six months by 9.3% and EBITDA by a whopping 15.2%. And these results for this type of business are really quite extraordinary. You don't normally see this sort of level of growth from a very, very consistent cash flow generating infrastructure, digital infrastructure business. So it's absolutely exceptional, an exceptional morning, exceptional half-year results.
Those results, the growth in EBITDA actually follows through to drive the NAV by 5.4% and increase it on a per share basis of 124.4p per share from the previous annual results. So we go to the next
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