Exponential-e has revealed that increasing demand for cloud services drove a 27.62 per cent increase in total revenue for the year ending 31st January 2016. In summary, revenues reached £77.3 million, EBITDA rose by 35.53 per cent to £13.8 million and pre-tax profits were up 47 per cent to £6.7 million. Underpinning this growth was strong customer acquisition with a 35 per cent increase in new business sales for cloud services.
“Over the last year, we have enjoyed particular success in targeting the C-level community. The security offered with our unique private cloud network has been adopted by many clients in sectors such as legal, finance and media, that have some of the most stringent privacy, compliance and security requirements,” explained Lee Wade, CEO at Exponential-e. “We now count brands including Lewis Silkin, Middlesex University, HH Global and UK Power Networks as customers and have increased our client portfolio by 15 per cent.”
Throughout 2016, Exponential-e will continue working to transition its business into a global IT brand. It intends to do this by concentrating on using its core network and platform stack to deliver new product innovations within its service catalogue. It will also focus on investing in automation – SDN (Software Defined Network) and NFV (Network Function Virtualisation) – to drive a better customer experience and enable organisations to scale and deliver services more quickly. At the centre of this transition is the Exponential-e brand that has been refreshed to differentiate the company and reflect its focus on delivering world-class services.
“As we focus on building our capabilities as a global company, our new brand reflects the continued growth, innovation and industry leadership that will drive our success,” added Wade. “Using our foundations as a networking company, our aim will be to help IT departments become a service enabler for the business. Moving forward, we will be looking for opportunities to build our capabilities in data centric services, machine learning and proof-of-concepts for artificial intelligence.”
As Exponential-e aims to achieve 23 per cent growth in the next financial year, it will look to recruit an additional 60 staff. In 2015, staff numbers increased by 20 per cent and John Kyrillou, director of sales, was promoted to the board of directors to support strategic initiatives. Exponential-e also reaffirmed its commitment to its Northern office with a 50 per cent increase in staff and the appointment of James Kenn as regional business manager. As part of its investment in employees, Exponential-e ran its ninth annual sales academy that equips new trainees with the knowledge, skills and experience required for today’s digital environment.
“In the last year, we have gone from strength-to-strength and experienced another award winning year. We have recently announced the development of Render-as-a-Service, which has formalised a commercial partnership with Microsoft and launched an optical virtual private network (VPN) that will be available across nine of our key data centres. We have also been recognised as one of London Stock Exchange’s 1000 Companies to Inspire Britain for the third year running and we were the top performing privately-owned UK networking company in the Megabuyte50 awards,” concluded Wade. “As we move into 2016 then we will focus on launching SDN services that will form a key part of our global strategy. However, at the heart of our future success, is our smart people and customers that play an integral role in supporting Exponential-e in its transition to becoming a global IT player.”