UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Report on Form 6-K dated 4 November 2015
(Commission File No. 001-35053)
INTERXION
HOLDING N.V.
(Translation of Registrants Name into English)
Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands, +31 20 880 7600
(Address of Principal Executive Office)
Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a
Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7) ): ¨
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the
registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrants home country), or under the rules of the
home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrants security holders, and, if
discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
This report contains Interxion Holding N.V.s (1) third quarter 2015 earnings press release and
(2) presentation materials to be used during a conference call with investors on 4 November 2015.
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Exhibit |
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99.1 |
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The press release Interxion Reports Third Quarter 2015 Results, dated 4 November 2015. |
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99.2 |
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Presentation materials to be used during a conference call with investors on 4 November 2015. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
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INTERXION HOLDING N.V. |
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By: |
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/s/ David C. Ruberg |
Name: |
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David C. Ruberg |
Title: |
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Chief Executive Officer |
Date: 4 November 2015
Exhibit 99.1
Press Release, 4 November 2015
Interxion Reports Third Quarter 2015 Results
Consistent Execution Delivers Solid Financial and Operating Performance
AMSTERDAM 4 November 2015 Interxion Holding NV (NYSE: INXN), a leading European provider of carrier and cloud-neutral colocation data
centre services, announced its results today for the three months ended 30 September 2015.
Financial Highlights
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Revenue increased by 13% to 98.0 million (3Q 2014: 86.4 million). |
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Adjusted EBITDA1 increased by 17% to 43.7 million (3Q 2014: 37.3 million). |
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Adjusted EBITDA margin increased to 44.6% (3Q 2014: 43.1%). |
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Net profit increased to 10.4 million (3Q 2014: 9.0 million). |
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Adjusted net profit1 increased to 8.7 million (3Q 2014: 8.0 million). |
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Earnings per diluted share were 0.15 (3Q 2014: 0.13). |
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Adjusted earnings per diluted share1 were 0.12 (3Q 2014: 0.11). |
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Capital Expenditures, including intangible assets2, were 35.3 million (3Q 2014: 57.0 million). |
1 |
Adjusted EBITDA, Adjusted net profit, and Adjusted earnings per diluted share are non-IFRS figures intended to adjust for unusual items. Full definitions can be found in the Use of non-IFRS information
section later in this press release. Reconciliations of Adjusted EBITDA and Adjusted net profit to Net profit can be found in the financial tables later in this press release. |
2 |
Capital expenditures, including intangible assets, represent payments to acquire property, plant, and equipment and intangible assets, as recorded in the consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets, respectively. |
1
Press Release, 4 November 2015
Operating Highlights
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Equipped Space increased by 1,900 square metres to 100,200 square metres. |
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Revenue Generating Space increased by 900 square metres to 78,000 square metres. |
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Utilisation Rate at the end of the quarter was 78%. |
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Expansion projects in Madrid and Marseille completed during the quarter. |
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Announced on 3 November, the build of new data centres in Amsterdam (AMS8), Copenhagen (CPH2), and Dublin (DUB3) and the further expansion in Frankfurt (FRA10). |
Interxion posted very solid results in the third quarter, reflecting the Companys continued focus on financial discipline and operational
execution, said David Ruberg, Interxions Chief Executive Officer. As the cloud roll out across Europe gains momentum, Interxion continues to deliver value to customers and strong returns for our shareholders through a
differentiated service offering and the creation of complementary Communities of Interest, combined with disciplined capital allocation.
Quarterly Review
Revenue in the third quarter of 2015
was 98.0 million, a 13% increase over the third quarter of 2014 and a 3% increase over the second quarter of 2015. Recurring revenue was 92.8 million, a 15% increase over the third quarter of 2014 and a 3% increase over the
second quarter of 2015. Recurring revenue in the quarter was 95% of total revenue.
Cost of sales in the third quarter of 2015 was
38.5 million, an 8% increase over the third quarter of 2014 and a 2% increase over the second quarter of 2015.
2
Press Release, 4 November 2015
Gross profit was 59.5 million in the third quarter of 2015, a 17% increase over the third quarter
of 2014 and a 3% increase over the second quarter of 2015. Gross profit margin was 60.7% in the third quarter of 2015 compared to 58.9% in the third quarter of 2014 and 60.5% in the second quarter of 2015.
Sales and marketing costs in the third quarter of 2015 were 6.9 million, a 17% increase over the third quarter of 2014 and a 4% decrease from the
second quarter of 2015.
Other general and administrative costs were 8.8 million in the third quarter of 2015, a 15% increase over the third
quarter of 2014 and a 3% increase from the second quarter of 2015. Other general and administrative costs exclude depreciation, amortisation, impairments, share-based payments, M&A transaction costs and the movement in the provision for onerous
lease contracts.
Adjusted EBITDA for the third quarter of 2015 was 43.7 million, a 17% increase over the third quarter of 2014 and a 4%
increase over the second quarter of 2015. Adjusted EBITDA margin was 44.6% in the third quarter of 2015 compared to 43.1% in the third quarter of 2014 and 44.0% in the second quarter of 2015.
Depreciation, amortisation, and impairments in the third quarter of 2015 was 20.3 million, an increase of 26% from the third quarter of 2014 and a
3% increase from the second quarter of 2015.
Operating profit in the third quarter of 2015 was 21.6 million, an increase of 9% from the third
quarter of 2014, and a 43% decrease from the second quarter of 2015. Both the second and third quarter operating profit results were impacted by M&A transaction related items. Adjusting for these items, operating profit was
22.0 million in the third quarter of 2015, an increase of 11% over the third quarter of 2014 and an increase of 6% over the second quarter of 2015.
Net finance costs for the third quarter of 2015 were 6.4 million, an 8% decrease over the third quarter of 2014, and a 19% decrease from the second
quarter of 2015. Reported as part of net finance costs in the quarter was a 2.3 million gain following the sale of a financial asset.
3
Press Release, 4 November 2015
Income tax expense for the third quarter of 2015 was 4.7 million, a 23% increase over the third
quarter of 2014, and a 42% decrease from the second quarter of 2015.
Net profit was 10.4 million in the third quarter of 2015, a 16% increase
over the third quarter of 2014, and a 52% decrease from the second quarter of 2015.
Adjusted net profit was 8.7 million in the third quarter
of 2015, a 9% increase over the third quarter of 2014, and a 5% increase from the second quarter of 2015.
Cash generated from operations, defined as cash
generated from operating activities before interest and corporate income tax payments and receipts, was 43.0 million in the third quarter of 2015, compared to 33.6 million in the third quarter of 2014, and
54.1 million in the second quarter of 2015. Cash generated from operations in the second quarter of 2015 included the receipt of the £15 million (20.9 million) payment related to the termination of the implementation
agreement with TelecityGroup.
Capital expenditures, including intangible assets, were 35.3 million in the third quarter of 2015 compared to
57.0 million in the third quarter of 2014 and 47.8 million in the second quarter of 2015.
Cash and cash equivalents were
50.0 million at 30 September 2015, compared to 99.9 million at year end 2014. Total borrowings, net of deferred revolving facility financing fees, were 541.0 million at 30 September 2015 compared to
560.6 million at year end 2014. As of 30 September 2015, the companys revolving credit facility was undrawn.
Equipped space at the
end of the third quarter of 2015 was 100,200 square metres compared to 88,600 square metres at the end of the third quarter of 2014 and 98,300 square metres at the end of the second quarter of 2015. Utilisation rate, the ratio of revenue-generating
space to equipped space, was 78% at the end of the third quarter of 2015, compared with 77% at the end of the third quarter of 2014 and 78% at the end of the second quarter of 2015.
4
Press Release, 4 November 2015
Business Outlook
Interxion today reaffirms guidance for its Revenue and Adjusted EBITDA, and Capital expenditures (including intangibles) for full year 2015:
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Revenue |
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375 million 388 million |
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Adjusted EBITDA |
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162 million 172 million |
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Capital expenditures (including intangibles) |
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180 million 200 million |
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Conference Call to Discuss Results
Interxion will host a conference call today at 8:30 a.m. ET (1:30 pm GMT, 2:30 pm CET) to discuss its third quarter 2015 results.
To participate in this call, U.S. callers may dial toll free 1-866-966-1396; callers outside the U.S. may dial direct +44 (0) 2071 928 000. The
conference ID for this call is INXN. This event also will be webcast live over the Internet in listen-only mode at investors.interxion.com.
A
replay of this call will be available shortly after the call concludes and will be available until 10 November 2015. To access the replay, U.S. callers may dial toll free 1-866-247-4222; callers outside the U.S. may dial direct +44
(0) 1452 550 000. The replay access number is 53506531.
Forward-looking Statements
This communication contains forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results and future events to differ materially from Interxions expectations
include, but are not
5
Press Release, 4 November 2015
limited to, the difficulty of reducing operating expenses in the short term, the inability to utilise the capacity of newly planned data centres and data centre expansions, significant
competition, the cost and supply of electrical power, data centre industry over-capacity, performance under service level agreements, certain other risks detailed herein and other risks described from time to time in Interxions filings with
the United States Securities and Exchange Commission (the SEC).
Interxion does not assume any obligation to update the forward-looking
information contained in this report.
Use of Non-IFRS Information
EBITDA is defined as operating profit plus depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude
share-based payments, M&A transaction costs, increase/decrease in provision for onerous lease contracts, M&A transaction break fee income, and income from sub-leases of unused data centre sites. Adjusted EBITDA margin is defined as Adjusted
EBITDA as a percentage of revenue. We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional information because we understand that they are measures used by certain investors and because they are used in our financial covenants in
the 100 million revolving facility and 475 million 6.00% Senior Secured Notes due 2020. A reconciliation from Net profit to EBITDA and EBITDA to Adjusted EBITDA is provided in the notes to our consolidated interim income
statement.
Adjusted net profit is defined as Net profit excluding the impact of refinancing charges, M&A transaction costs, M&A transaction break
fee income, profit on sale of financial asset, increase / decrease in the provision for onerous lease contracts, interest capitalised, and the related corporate income tax effect with respect to the foregoing items.
Other companies may, however, present EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted net profit differently than we do. EBITDA, Adjusted EBITDA,
Adjusted EBITDA margin and Adjusted net profit are not measures of
6
Press Release, 4 November 2015
financial performance under IFRS and should not be considered as an alternative to operating profit or as a measure of liquidity or an alternative to net income as indicators of our operating
performance or any other measure of performance derived in accordance with IFRS. Interxion does not provide forward-looking estimates of Net profit, Operating profit, depreciation, amortisation, and impairments, share-based payments, M&A
transaction costs or increase/decrease in provision for onerous lease contracts, and income from sub-leases of unused data centre sites, which it uses to reconcile to Adjusted EBITDA. The Company is, therefore, unable to provide forward-looking
reconciling information for Adjusted EBITDA.
-ENDS-
About Interxion
Interxion (NYSE: INXN) is a leading
provider of carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through 40 data centres in 11 European countries. Interxions uniformly designed, energy efficient data centres offer customers
extensive security and uptime for their mission-critical applications.
With over 500 connectivity providers, 20 European Internet exchanges, and most
leading cloud and digital media platforms across its footprint, Interxion has created connectivity, cloud, content and finance hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.
Contact information:
Interxion
Jim Huseby
Investor Relations
Tel: +1-813-644-9399
IR@interxion.com
7
Press Release, 4 November 2015
INTERXION HOLDING NV
CONSOLIDATED INCOME STATEMENT
(in 000 except per share data and where stated otherwise)
(unaudited)
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Three Months Ended |
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Nine Months Ended |
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30 Sep 2015 |
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30 Sep 2014 |
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30 Sep 2015 |
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30 Sep 2014 |
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Revenue |
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97,976 |
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86,446 |
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285,907 |
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250,702 |
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Cost of sales |
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(38,464 |
) |
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|
(35,531 |
) |
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(112,409 |
) |
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(102,107 |
) |
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Gross profit |
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59,512 |
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50,915 |
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173,498 |
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148,595 |
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Other income |
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|
142 |
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|
57 |
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21,202 |
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|
167 |
|
Sales and marketing costs |
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(6,943 |
) |
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(5,926 |
) |
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(20,832 |
) |
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(18,021 |
) |
General and administrative costs |
|
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(31,152 |
) |
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(25,211 |
) |
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(101,135 |
) |
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(71,199 |
) |
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Operating profit |
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21,559 |
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19,835 |
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72,733 |
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|
59,542 |
|
Net finance expense |
|
|
(6,407 |
) |
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|
(6,986 |
) |
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|
(20,938 |
) |
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|
(19,875 |
) |
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|
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|
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|
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|
|
Profit before taxation |
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15,152 |
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|
|
12,849 |
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|
|
51,795 |
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|
|
39,667 |
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Income tax expense |
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|
(4,737 |
) |
|
|
(3,855 |
) |
|
|
(15,368 |
) |
|
|
(11,992 |
) |
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|
|
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|
|
|
|
|
|
|
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Net profit |
|
|
10,415 |
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|
|
8,994 |
|
|
|
36,427 |
|
|
|
27,675 |
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Basic earnings per share: () |
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0.15 |
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0.13 |
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|
|
0.52 |
|
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|
0.40 |
|
Diluted earnings per share: () |
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0.15 |
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0.13 |
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0.52 |
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|
|
0.40 |
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Number of shares outstanding at the end of the period (shares in thousands) |
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69,638 |
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|
|
69,161 |
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|
|
69,638 |
|
|
|
69,161 |
|
Weighted average number of shares for Basic EPS (shares in thousands) |
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|
69,619 |
|
|
|
69,118 |
|
|
|
69,526 |
|
|
|
68,985 |
|
Weighted average number of shares for Diluted EPS (shares in thousands) |
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|
70,612 |
|
|
|
70,039 |
|
|
|
70,561 |
|
|
|
69,921 |
|
|
|
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|
|
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As at |
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30 Sep 2015 |
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30 Sep 2014 |
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Capacity metrics |
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Equipped space (in square meters) |
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100,200 |
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88,600 |
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Revenue generating space (in square meters) |
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78,000 |
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|
68,500 |
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Utilisation rate |
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|
78 |
% |
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|
77 |
% |
8
Press Release, 4 November 2015
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION
(in 000 except where stated otherwise)
(unaudited)
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Three Months Ended |
|
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Nine Months Ended |
|
|
|
30 Sep 2015 |
|
|
30 Sep 2014 |
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|
30 Sep 2015 |
|
|
30 Sep 2014 |
|
Consolidated |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue |
|
|
92,753 |
|
|
|
80,863 |
|
|
|
270,101 |
|
|
|
235,466 |
|
Non-recurring revenue |
|
|
5,223 |
|
|
|
5,583 |
|
|
|
15,806 |
|
|
|
15,236 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
97,976 |
|
|
|
86,446 |
|
|
|
285,907 |
|
|
|
250,702 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
43,732 |
|
|
|
37,275 |
|
|
|
126,366 |
|
|
|
107,686 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Gross profit margin |
|
|
60.7 |
% |
|
|
58.9 |
% |
|
|
60.7 |
% |
|
|
59.3 |
% |
|
|
|
|
|
Adjusted EBITDA margin |
|
|
44.6 |
% |
|
|
43.1 |
% |
|
|
44.2 |
% |
|
|
43.0 |
% |
|
|
|
|
|
Total assets |
|
|
1,208,485 |
|
|
|
1,134,861 |
|
|
|
1,208,485 |
|
|
|
1,134,861 |
|
Total liabilities |
|
|
719,963 |
|
|
|
708,601 |
|
|
|
719,963 |
|
|
|
708,601 |
|
Capital expenditure, including intangible assets (a) |
|
|
(35,270 |
) |
|
|
(57,041 |
) |
|
|
(150,675 |
) |
|
|
(168,456 |
) |
|
|
|
|
|
France, Germany, the Netherlands, and the UK |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue |
|
|
59,461 |
|
|
|
50,950 |
|
|
|
171,765 |
|
|
|
147,929 |
|
Non-recurring revenue |
|
|
3,758 |
|
|
|
3,901 |
|
|
|
10,380 |
|
|
|
9,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
63,219 |
|
|
|
54,851 |
|
|
|
182,145 |
|
|
|
157,833 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
34,907 |
|
|
|
29,226 |
|
|
|
99,525 |
|
|
|
84,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit margin |
|
|
62.3 |
% |
|
|
60.5 |
% |
|
|
62.3 |
% |
|
|
61.1 |
% |
|
|
|
|
|
Adjusted EBITDA margin |
|
|
55.2 |
% |
|
|
53.3 |
% |
|
|
54.6 |
% |
|
|
53.5 |
% |
|
|
|
|
|
Total assets |
|
|
852,020 |
|
|
|
760,212 |
|
|
|
852,020 |
|
|
|
760,212 |
|
Total liabilities |
|
|
175,537 |
|
|
|
165,599 |
|
|
|
175,537 |
|
|
|
165,599 |
|
Capital expenditure, including intangible assets (a) |
|
|
(26,624 |
) |
|
|
(37,322 |
) |
|
|
(96,935 |
) |
|
|
(116,495 |
) |
|
|
|
|
|
Rest of Europe |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue |
|
|
33,292 |
|
|
|
29,913 |
|
|
|
98,336 |
|
|
|
87,537 |
|
Non-recurring revenue |
|
|
1,465 |
|
|
|
1,682 |
|
|
|
5,426 |
|
|
|
5,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
|
34,757 |
|
|
|
31,595 |
|
|
|
103,762 |
|
|
|
92,869 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
19,784 |
|
|
|
16,767 |
|
|
|
58,104 |
|
|
|
49,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit margin |
|
|
64.3 |
% |
|
|
61.5 |
% |
|
|
64.2 |
% |
|
|
62.0 |
% |
|
|
|
|
|
Adjusted EBITDA margin |
|
|
56.9 |
% |
|
|
53.1 |
% |
|
|
56.0 |
% |
|
|
53.0 |
% |
|
|
|
|
|
Total assets |
|
|
308,934 |
|
|
|
263,009 |
|
|
|
308,934 |
|
|
|
263,009 |
|
Total liabilities |
|
|
57,150 |
|
|
|
53,817 |
|
|
|
57,150 |
|
|
|
53,817 |
|
Capital expenditure, including intangible assets (a) |
|
|
(6,022 |
) |
|
|
(17,696 |
) |
|
|
(49,436 |
) |
|
|
(47,648 |
) |
|
|
|
|
|
Corporate and other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
(10,959 |
) |
|
|
(8,718 |
) |
|
|
(31,263 |
) |
|
|
(25,920 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
47,531 |
|
|
|
111,640 |
|
|
|
47,531 |
|
|
|
111,640 |
|
Total liabilities |
|
|
487,276 |
|
|
|
489,185 |
|
|
|
487,276 |
|
|
|
489,185 |
|
Capital expenditure, including intangible assets (a) |
|
|
(2,624 |
) |
|
|
(2,023 |
) |
|
|
(4,304 |
) |
|
|
(4,313 |
) |
(a) |
Capital expenditure, including intangible assets, represents payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as Purchase of
property, plant and equipment and Purchase of intangible assets, respectively. |
9
Press Release, 4 November 2015
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED EBITDA RECONCILIATION
(in 000 except where stated otherwise)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
30 Sep 2015 |
|
|
30 Sep 2014 |
|
|
30 Sep 2015 |
|
|
30 Sep 2014 |
|
Reconciliation to Adjusted EBITDA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit |
|
|
10,415 |
|
|
|
8,994 |
|
|
|
36,427 |
|
|
|
27,675 |
|
Income tax expense |
|
|
4,737 |
|
|
|
3,855 |
|
|
|
15,368 |
|
|
|
11,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before taxation |
|
|
15,152 |
|
|
|
12,849 |
|
|
|
51,795 |
|
|
|
39,667 |
|
Net finance expense |
|
|
6,407 |
|
|
|
6,986 |
|
|
|
20,938 |
|
|
|
19,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
|
|
21,559 |
|
|
|
19,835 |
|
|
|
72,733 |
|
|
|
59,542 |
|
Depreciation, amortisation and impairments |
|
|
20,251 |
|
|
|
16,025 |
|
|
|
58,043 |
|
|
|
44,870 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
|
41,810 |
|
|
|
35,860 |
|
|
|
130,776 |
|
|
|
104,412 |
|
Share-based payments |
|
|
1,664 |
|
|
|
1,472 |
|
|
|
5,694 |
|
|
|
4,246 |
|
Increase/(decrease) in provision for onerous lease contracts |
|
|
(84 |
) |
|
|
|
|
|
|
(184 |
) |
|
|
(805 |
) |
M&A transaction break fee income (a) |
|
|
|
|
|
|
|
|
|
|
(20,923 |
) |
|
|
|
|
M&A transaction costs (b) |
|
|
484 |
|
|
|
|
|
|
|
11,282 |
|
|
|
|
|
Income from sub-leases on unused data centre sites |
|
|
(142 |
) |
|
|
(57 |
) |
|
|
(279 |
) |
|
|
(167 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
43,732 |
|
|
|
37,275 |
|
|
|
126,366 |
|
|
|
107,686 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France, Germany, the Netherlands, and the UK |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
|
|
21,714 |
|
|
|
18,420 |
|
|
|
61,516 |
|
|
|
55,452 |
|
Depreciation, amortisation and impairments |
|
|
13,066 |
|
|
|
10,528 |
|
|
|
37,327 |
|
|
|
28,968 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
|
34,780 |
|
|
|
28,948 |
|
|
|
98,843 |
|
|
|
84,420 |
|
Share-based payments |
|
|
353 |
|
|
|
335 |
|
|
|
1,145 |
|
|
|
960 |
|
Increase/(decrease) in provision for onerous lease contracts |
|
|
(84 |
) |
|
|
|
|
|
|
(184 |
) |
|
|
(805 |
) |
Income from sub-leases on unused data centre sites |
|
|
(142 |
) |
|
|
(57 |
) |
|
|
(279 |
) |
|
|
(167 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
34,907 |
|
|
|
29,226 |
|
|
|
99,525 |
|
|
|
84,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rest of Europe |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
|
|
13,464 |
|
|
|
11,857 |
|
|
|
40,017 |
|
|
|
35,158 |
|
Depreciation, amortisation and impairments |
|
|
6,113 |
|
|
|
4,610 |
|
|
|
17,475 |
|
|
|
13,386 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
|
19,577 |
|
|
|
16,467 |
|
|
|
57,492 |
|
|
|
48,544 |
|
Share-based payments |
|
|
207 |
|
|
|
300 |
|
|
|
612 |
|
|
|
654 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
19,784 |
|
|
|
16,767 |
|
|
|
58,104 |
|
|
|
49,198 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit/(loss) |
|
|
(13,619 |
) |
|
|
(10,442 |
) |
|
|
(28,800 |
) |
|
|
(31,068 |
) |
Depreciation, amortisation and impairments |
|
|
1,072 |
|
|
|
887 |
|
|
|
3,241 |
|
|
|
2,516 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
|
|
(12,547 |
) |
|
|
(9,555 |
) |
|
|
(25,559 |
) |
|
|
(28,552 |
) |
Share-based payments |
|
|
1,104 |
|
|
|
837 |
|
|
|
3,937 |
|
|
|
2,632 |
|
M&A transaction break fee income (a) |
|
|
|
|
|
|
|
|
|
|
(20,923 |
) |
|
|
|
|
M&A transaction costs (b) |
|
|
484 |
|
|
|
|
|
|
|
11,282 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA |
|
|
(10,959 |
) |
|
|
(8,718 |
) |
|
|
(31,263 |
) |
|
|
(25,920 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
On 9 March 2015 the Company signed the definitive agreement on an all-share merger (the Implementation Agreement) with TelecityGroup plc (TelecityGroup) on the terms as announced on 11
February 2015. Following termination of the Implementation Agreement on 29 May 2015, the Company received a cash break-up fee of £15 million from TelecityGroup which is reported as Other income. |
(b) |
M&A transaction costs represent expenses associated with the Implementation Agreement and its subsequent termination on 29 May 2015. |
10
Press Release, 4 November 2015
INTERXION HOLDING NV
CONSOLIDATED BALANCE SHEET
(in 000 except where stated otherwise
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
As at |
|
|
|
30 Sep 2015 |
|
|
31 Dec 2014 |
|
Non-current assets |
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment |
|
|
974,895 |
|
|
|
895,184 |
|
Intangible assets |
|
|
22,237 |
|
|
|
18,996 |
|
Deferred tax assets |
|
|
23,629 |
|
|
|
30,064 |
|
Financial assets |
|
|
|
|
|
|
774 |
|
Other non-current assets |
|
|
6,255 |
|
|
|
5,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,027,016 |
|
|
|
950,768 |
|
Current assets |
|
|
|
|
|
|
|
|
|
|
|
Trade receivables and other current assets |
|
|
131,439 |
|
|
|
120,762 |
|
Short term investments |
|
|
|
|
|
|
1,650 |
|
Cash and cash equivalents |
|
|
50,030 |
|
|
|
99,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
181,469 |
|
|
|
222,335 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
|
1,208,485 |
|
|
|
1,173,103 |
|
|
|
|
|
|
|
|
|
|
Shareholders equity |
|
|
|
|
|
|
|
|
|
|
|
Share capital |
|
|
6,957 |
|
|
|
6,932 |
|
Share premium |
|
|
502,621 |
|
|
|
495,109 |
|
Foreign currency translation reserve |
|
|
18,819 |
|
|
|
10,440 |
|
Hedging reserve, net of tax |
|
|
(213 |
) |
|
|
(247 |
) |
Accumulated deficit |
|
|
(39,662 |
) |
|
|
(76,089 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
488,522 |
|
|
|
436,145 |
|
Non-current liabilities |
|
|
|
|
|
|
|
|
|
|
|
Trade payables and other liabilities |
|
|
12,858 |
|
|
|
12,211 |
|
Deferred tax liabilities |
|
|
9,897 |
|
|
|
7,029 |
|
Provision for onerous lease contracts |
|
|
|
|
|
|
1,491 |
|
Borrowings |
|
|
539,482 |
|
|
|
540,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
562,237 |
|
|
|
561,261 |
|
Current liabilities |
|
|
|
|
|
|
|
|
|
|
|
Trade payables and other liabilities |
|
|
148,485 |
|
|
|
146,502 |
|
Income tax liabilities |
|
|
4,516 |
|
|
|
4,690 |
|
Provision for onerous lease contracts |
|
|
2,379 |
|
|
|
3,443 |
|
Borrowings |
|
|
2,346 |
|
|
|
21,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
157,726 |
|
|
|
175,697 |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
719,963 |
|
|
|
736,958 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders equity |
|
|
1,208,485 |
|
|
|
1,173,103 |
|
|
|
|
|
|
|
|
|
|
11
Press Release, 4 November 2015
INTERXION HOLDING NV
NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS
(in 000 except where stated otherwise)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
As at |
|
|
|
30 Sep 2015 |
|
|
31 Dec 2014 |
|
Borrowings net of cash and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents (a) |
|
|
50,030 |
|
|
|
99,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
6.00% Senior Secured Notes due 2020 (b) |
|
|
475,539 |
|
|
|
475,643 |
|
Mortgages |
|
|
30,187 |
|
|
|
31,487 |
|
Financial leases |
|
|
34,497 |
|
|
|
52,857 |
|
Other borrowings |
|
|
1,605 |
|
|
|
1,605 |
|
|
|
|
|
|
|
|
|
|
Borrowings excluding Revolving Facility deferred financing costs |
|
|
541,828 |
|
|
|
561,592 |
|
|
|
|
|
|
|
|
|
|
Revolving Facility deferred financing costs (c) |
|
|
(779 |
) |
|
|
(995 |
) |
|
|
|
|
|
|
|
|
|
Total borrowings |
|
|
541,049 |
|
|
|
560,597 |
|
|
|
|
|
|
|
|
|
|
Borrowings net of cash and cash equivalents |
|
|
|
|
|
|
|
|
|
|
|
491,019 |
|
|
|
460,674 |
|
|
|
|
|
|
|
|
|
|
(a) |
Cash and cash equivalents include 4.3 million as of 30 September 2015 and 7.1 million as of 31 December 2014, which is restricted and held as collateral to support the issuance of bank
guarantees on behalf of a number of subsidiary companies. |
(b) |
475 million 6.00% Senior Secured Notes due 2020 include a premium on the additional issuance and are shown after deducting underwriting discounts and commissions, offering fees and expenses.
|
(c) |
Deferred financing costs of 0.8 million as of 30 September 2015 were incurred in connection with the 100 million revolving facility. |
12
Press Release, 4 November 2015
INTERXION HOLDING NV
CONSOLIDATED STATEMENT OF CASH FLOWS
(in 000 except where stated otherwise)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
30 Sep |
|
|
30 Sep |
|
|
30 Sep |
|
|
30 Sep |
|
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
Net profit |
|
|
10,415 |
|
|
|
8,994 |
|
|
|
36,427 |
|
|
|
27,675 |
|
Depreciation, amortisation and impairments |
|
|
20,251 |
|
|
|
16,025 |
|
|
|
58,043 |
|
|
|
44,870 |
|
Provision for onerous lease contracts |
|
|
(879 |
) |
|
|
(859 |
) |
|
|
(2,653 |
) |
|
|
(3,313 |
) |
Share-based paymens |
|
|
1,664 |
|
|
|
1,472 |
|
|
|
5,694 |
|
|
|
4,246 |
|
Net finance expense |
|
|
6,407 |
|
|
|
6,986 |
|
|
|
20,938 |
|
|
|
19,875 |
|
Income tax expense |
|
|
4,737 |
|
|
|
3,855 |
|
|
|
15,368 |
|
|
|
11,992 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
42,595 |
|
|
|
36,473 |
|
|
|
133,817 |
|
|
|
105,345 |
|
Movements in trade receivables and other current assets |
|
|
(216 |
) |
|
|
(7,848 |
) |
|
|
(9,581 |
) |
|
|
(19,077 |
) |
Movements in trade payables and other liabilities |
|
|
584 |
|
|
|
5,012 |
|
|
|
7,067 |
|
|
|
8,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash generated from operations |
|
|
42,963 |
|
|
|
33,637 |
|
|
|
131,303 |
|
|
|
94,875 |
|
Interest and fees paid (a) |
|
|
(14,107 |
) |
|
|
(11,711 |
) |
|
|
(29,129 |
) |
|
|
(23,772 |
) |
Interest received |
|
|
37 |
|
|
|
114 |
|
|
|
117 |
|
|
|
238 |
|
Income tax paid |
|
|
(4,107 |
) |
|
|
(1,950 |
) |
|
|
(9,167 |
) |
|
|
(4,151 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from / (used in) operating activities |
|
|
24,786 |
|
|
|
20,090 |
|
|
|
93,124 |
|
|
|
67,190 |
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property, plant and equipment |
|
|
(33,399 |
) |
|
|
(56,251 |
) |
|
|
(145,628 |
) |
|
|
(166,276 |
) |
Purchase of intangible assets |
|
|
(1,871 |
) |
|
|
(790 |
) |
|
|
(5,047 |
) |
|
|
(2,180 |
) |
Proceeds from sale of financial asset |
|
|
3,063 |
|
|
|
|
|
|
|
3,063 |
|
|
|
|
|
Redemption of short-term investments |
|
|
|
|
|
|
|
|
|
|
1,650 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from / (used in) investing activities |
|
|
(32,207 |
) |
|
|
(57,041 |
) |
|
|
(145,962 |
) |
|
|
(168,456 |
) |
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from exercised options |
|
|
12 |
|
|
|
1,444 |
|
|
|
2,420 |
|
|
|
2,846 |
|
Proceeds from mortgages |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,185 |
|
Repayment of mortgages |
|
|
(320 |
) |
|
|
(320 |
) |
|
|
(1,360 |
) |
|
|
(1,054 |
) |
Proceeds revolving facility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,000 |
|
Repayments revolving facility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(30,000 |
) |
Proceeds 6.00% Senior Secured Notes due 2020 |
|
|
|
|
|
|
(504 |
) |
|
|
|
|
|
|
157,878 |
|
Interest received at issue of Additional Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,600 |
|
Interest paid related to interest received at issue of Additional Notes |
|
|
|
|
|
|
(2,600 |
) |
|
|
|
|
|
|
(2,600 |
) |
Transaction costs related to Senior Secured Facility |
|
|
|
|
|
|
(275 |
) |
|
|
|
|
|
|
(646 |
) |
Repayment of other borrowings |
|
|
(31 |
) |
|
|
8 |
|
|
|
(31 |
) |
|
|
(15 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from / (used in) financing activities |
|
|
(339 |
) |
|
|
(2,247 |
) |
|
|
1,029 |
|
|
|
168,194 |
|
Effect of exchange rate changes on cash |
|
|
692 |
|
|
|
73 |
|
|
|
1,916 |
|
|
|
137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase / (decrease) in cash and cash equivalents |
|
|
(7,068 |
) |
|
|
(39,125 |
) |
|
|
(49,893 |
) |
|
|
67,065 |
|
Cash and cash equivalents, beginning of period |
|
|
57,098 |
|
|
|
151,880 |
|
|
|
99,923 |
|
|
|
45,690 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents, end of period |
|
|
50,030 |
|
|
|
112,755 |
|
|
|
50,030 |
|
|
|
112,755 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Interest paid is reported net of cash interest capitalized, which is reported as part of Purchase of property, plant and equipment. |
13
Press Release, 4 November 2015
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED NET PROFIT RECONCILIATION
(in millions except per share data and where stated otherwise)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
30 Sep |
|
|
30 Sep |
|
|
30 Sep |
|
|
30 Sep |
|
|
|
2015 |
|
|
2014 |
|
|
2015 |
|
|
2014 |
|
|
|
( in millions - except per share data) |
|
Net profit - as reported |
|
|
10.4 |
|
|
|
9.0 |
|
|
|
36.4 |
|
|
|
27.7 |
|
Add back |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
+ Refinancing charges |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.6 |
|
+ M&A transaction costs |
|
|
0.5 |
|
|
|
|
|
|
|
11.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
0.5 |
|
|
|
|
|
|
|
11.3 |
|
|
|
0.6 |
|
Reverse |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- M&A transaction break fee income |
|
|
|
|
|
|
|
|
|
|
(20.9 |
) |
|
|
|
|
- Profit on sale of financial asset |
|
|
(2.3 |
) |
|
|
|
|
|
|
(2.3 |
) |
|
|
|
|
- Increase / (decrease) in provision for onerous lease contracts |
|
|
(0.1 |
) |
|
|
|
|
|
|
(0.2 |
) |
|
|
(0.8 |
) |
- Interest capitalised |
|
|
(0.4 |
) |
|
|
(1.3 |
) |
|
|
(2.0 |
) |
|
|
(3.0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2.8 |
) |
|
|
(1.3 |
) |
|
|
(25.4 |
) |
|
|
(3.8 |
) |
Tax effect of above add backs & reversals |
|
|
0.6 |
|
|
|
0.3 |
|
|
|
3.5 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net profit |
|
|
8.7 |
|
|
|
8.0 |
|
|
|
25.8 |
|
|
|
25.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported basic EPS: () |
|
|
0.15 |
|
|
|
0.13 |
|
|
|
0.52 |
|
|
|
0.40 |
|
Reported diluted EPS: () |
|
|
0.15 |
|
|
|
0.13 |
|
|
|
0.52 |
|
|
|
0.40 |
|
Adjusted basic EPS: () |
|
|
0.12 |
|
|
|
0.12 |
|
|
|
0.37 |
|
|
|
0.37 |
|
Adjusted diluted EPS: () |
|
|
0.12 |
|
|
|
0.11 |
|
|
|
0.37 |
|
|
|
0.36 |
|
14
Press Release, 4 November 2015
INTERXION HOLDING NV
Status of Announced Expansion Projects as at 4 November 2015
with Target Open Dates after 1 January 2015
|
|
|
|
|
|
|
|
|
|
|
|
|
Market |
|
Project |
|
CAPEX (a) (b) (million) |
|
|
Equipped Space (a) (sqm) |
|
|
Target Opening Dates |
Amsterdam |
|
AMS 7: Phases 1 - 6 New Build |
|
|
115 |
|
|
|
7,600 |
|
|
fully opened |
Amsterdam |
|
AMS 8: Phases 1 - 2 New Build |
|
|
50 |
|
|
|
2,600 |
|
|
4Q 2016 |
Copenhagen |
|
CPH2: Phase 1 New Build |
|
|
4 |
|
|
|
500 |
|
|
3Q 2016 |
Dublin |
|
DUB3: Phases 1 - 2 New Build |
|
|
28 |
|
|
|
1,200 |
|
|
4Q 2016 |
Dusseldorf |
|
DUS 1: Phase 3 Expansion |
|
|
3 |
|
|
|
400 |
|
|
fully opened |
Dusseldorf |
|
DUS 2: Phase 1 New Build |
|
|
13 |
|
|
|
600 |
|
|
1Q 2016 |
Frankfurt |
|
FRA 10: Phases 1 - 4 New Build |
|
|
92 |
|
|
|
4,800 |
|
|
1Q 2016 - 4Q 2016 (c) |
Madrid |
|
MAD 2: Phase 2 Expansion |
|
|
4 |
|
|
|
800 |
|
|
fully opened |
Marseille |
|
MRS 1: Phases 1 - 2 |
|
|
20 |
|
|
|
1,400 |
|
|
fully opened (d) |
Stockholm |
|
STO 4: New Build |
|
|
15 |
|
|
|
1,100 |
|
|
fully opened |
Vienna |
|
VIE 2: New Build |
|
|
42 |
|
|
|
2,800 |
|
|
4Q 2014 - 4Q 2015 (e) |
Total |
|
|
|
|
386 |
|
|
|
23,800 |
|
|
|
(a) |
CAPEX and Equipped space are approximate and may change. Figures are rounded to nearest 100 sqm unless otherwise noted. |
(b) |
CAPEX reflects the total spend for the projects listed at full power and capacity and the amounts shown in the table above may be invested over the duration of more than one fiscal year. |
(c) |
Phases 1 and 2 (1,200 square metres each) are scheduled to become operational in 1Q 2016 and 2Q 2016, respectively; phases 3 & 4 (1,200 square metres each) are scheduled to become operational in 4Q 2016.
|
(d) |
Phase 1 (600 square metres) became operational in 4Q 2014. Phase 2 (800 square metres) became available in 3Q 2015. |
(e) |
In 4Q 2014, 1,300 square metres became operational; in 1Q 2015, 600 square metres became operational; in 2Q 2015, 600 square metres became operational. In 4Q 2015, 300 square metres are scheduled to become operational.
|
15
3Q 2015 EARNINGS
CONFERENCE CALL
NYSE: INXN
4 November 2015
![Slide 2 Slide 2](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s2g1.jpg)
This document includes forward-looking
statements. All statements other than statements of historical fact included in this document regarding our business, financial condition, results of operations and certain of our plans, objectives, assumptions, projections, expectations or beliefs
with respect to these items and statements regarding other future events or prospects, are forward-looking statements. These statements include, without limitation, those concerning: our strategy and our ability to achieve it; expectations regarding
sales, profitability and growth; plans for the construction of new data centres; our possible or assumed future results of operations; research and development, capital expenditure and investment plans; adequacy of capital; and financing plans. The
words “aim,” “may,” “will,” “expect,” “anticipate,” “believe,” “future,” “continue,” “help,” “estimate,” “plan,”
“schedule,” “intend,” “should,” “shall” or the negative or other variations thereof as well as other statements regarding matters that are not historical fact, are or may constitute forward-looking
statements. In addition, this document includes forward-looking statements relating to our potential exposure to various types of market risks, such as foreign exchange rate risk, interest rate risks and other risks related to financial assets and
liabilities. We have based these forward-looking statements on our management’s current view with respect to future events and financial performance. These views reflect the best judgment of our management but involve a number of risks and
uncertainties which could cause actual results to differ materially from those predicted in our forward-looking statements and from past results, performance or achievements. Although we believe that the estimates reflected in the forward-looking
statements are reasonable, such estimates may prove to be incorrect. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number
of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things: operating expenses cannot be easily reduced in the short
term; inability to utilise the capacity of newly planned data centres and data centre expansions; significant competition; cost and supply of electrical power; data centre industry over-capacity; and performance under service level agreements. All
forward-looking statements included in this document are based on information available to us on the date of this document. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new
information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the
cautionary statements contained throughout this document. This document contains references to certain non-IFRS financial measures. For definitions of terms such as “Adjusted EBITDA”, “Adjusted Net Profit”, “Equipped
Space”, “LTM”, and “Recurring Revenue” and a detailed reconciliation between the non-IFRS financial results presented in this document and the corresponding IFRS measures, please refer to the appendix. Certain financial
and other information presented in this document has not been audited or reviewed by our independent auditors. Certain numerical, financial data, other amounts and percentages in this document may not sum due to rounding. In addition, certain
figures in this document have been rounded to the nearest whole number. DISCLAIMER
![Slide 3 Slide 3](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s3g1.jpg)
STRATEGIC & OPERATIONAL HIGHLIGHTS
David Ruberg – Chief Executive Officer
![Slide 4 Slide 4](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s4g1.jpg)
Consistent Focus on Financial
Discipline and Operational Execution Revenue grew 13% Y/Y, 3% Q/Q Adjusted EBITDA grew 17% Y/Y, 4% Q/Q Adjusted EBITDA margin of 44.6%, increased by 150bps Y/Y Capital expenditure of €35.3 million including intangibles Financial Execution
Completed expansions in Marseille and Madrid Announcing new data centres in Amsterdam, Copenhagen and Dublin and new phases in Frankfurt Revenue generating space grew 14% Y/Y Utilisation remained at 78% Operational Execution 3Q 2015 PERFORMANCE
![Slide 5 Slide 5](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s5g1.jpg)
Adjusted EBITDA & Margin (€
millions) Revenue (€ millions) 43.1% 43.0% 43.9% 44.0% Margin Non- recurring revenue Recurring revenue 3Q Revenue €98.0 million Grew 13% Y/Y and 3% Q/Q 3Q Recurring revenue €92.8 million Grew 15% Y/Y and 3% Q/Q 95% of total revenue
3Q Adjusted EBITDA €43.7 million Grew 17% Y/Y and 4% Q/Q 3Q Adjusted EBITDA margin 44.6% Double Digit Revenue Growth and Strong Improvement in Adjusted EBITDA Margin 86.4 80.9 89.9 83.7 92.5 87.1 95.4 90.3 98.0 92.8 44.6% 3Q 2015 FINANCIAL
HIGHLIGHTS
![Slide 6 Slide 6](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s6g1.jpg)
Equipped & Revenue Generating Space
(1,000’s sqm) Utilisation 77% 76% 78% 78% Available Equipped space Revenue generating space 88.6 98.3 93.5 94.8 Continued Disciplined Expansion to Meet Customer Demand 100.2 78% Equipped space of 100,200 sqm Grew 13% Y/Y 1,900 sqm added in the
quarter Revenue generating space of 78,000 sqm Grew 14% Y/Y 900 sqm installed in the quarter Maintained utilisation rate of 78% 3Q 2015 OPERATIONAL HIGHLIGHTS
![Slide 7 Slide 7](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s7g1.jpg)
Market Data Centre Project Project
CapEx (€ millions) Equipped Space (sqm) Scheduled Opening by Phase Project Opened Amsterdam AMS8 Phases 1 – 2 New Build 50 2,600 0 4Q16 Copenhagen CPH2 Phase 1 New Build 4 500 0 3Q16 Dublin DUB3 Phase 1 – 2 New Build 28 1,200 0
4Q16 Dusseldorf DUS2 Phase 1 New Build 13 600 0 1Q16 Frankfurt FRA10 Phases 1-4 New Build 92 4,800 0 1Q16 – 4Q16 Vienna VIE2 New Build 42 2,800 2,500 4Q14 – 4Q15 Announced Projects With Expansions Scheduled to Open after 1 Oct 2015 (See
Appendix for further information) Completed expansions in 3Q 2015: MAD2: opened 800 sqm MRS1: opened 800 sqm Four recently announced expansions: New Amsterdam data centre (AMS8) with 8,000 sqm Maximum Equippable Space in 6 phases New Copenhagen data
centre (CPH2) with1,600 sqm Maximum Equippable Space in 3 phases New Dublin data centre (DUB3) 2,300 sqm Maximum Equippable Space in 4 phases Further Frankfurt (FRA10) expansion with 2,400 sqm Announced approximately 9,000 sqm to open in 2016 ~70%
to come online in 4Q16 EXPANDING FACILITIES TO SUPPORT CUSTOMER NEEDS Notes: As of 4 November 2015. CapEx and Equipped Space are approximate and may change. CapEx reflects the total spend for the listed project at full power and capacity and the
amounts shown in the table above may be invested over the duration of more than one fiscal year.
![Slide 8 Slide 8](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s8g1.jpg)
Interxion’s Target Segments 58%
of Revenues Generated from Strategic Cloud and Connectivity Providers BUILDING COMMUNITIES OF INTEREST DELIVERS SIGNIFICANT CUSTOMER VALUE Selected providers in these segments, plus systems integrators, are deploying cloud platforms. Remaining
monthly recurring revenue (10%) allocated to systems integrator, on-line retail, and public customer segments. Digital Media & CDNs` Enterprises Financial Services Managed Service Providers Network Providers Platform Providers(1) 11% % of
September 2015 Monthly Recurring Revenue(2) 10% 11% 27% 31%
![Slide 9 Slide 9](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s9g1.jpg)
FINANCIAL HIGHLIGHTS Josh Joshi –
Chief Financial Officer
![Slide 10 Slide 10](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s10g1.jpg)
€ millions (except per share
amounts) 3Q 2014 2Q 2015 3Q 2015 3Q 2015 vs. 3Q 2014 3Q 2015 vs. 2Q 2015 Recurring revenue 80.9 90.3 92.8 15% 3% Non-recurring revenue 5.6 5.2 5.2 -6% 1% Revenue 86.4 95.4 98.0 13% 3% Gross profit 50.9 57.8 59.5 17% 3% Gross profit margin 58.9%
60.5% 60.7% +180bps +20 bps Adjusted EBITDA(1) 37.3 42.0 43.7 17% 4% Adjusted EBITDA margin 43.1% 44.0% 44.6% +150 bps +60 bps Net profit 9.0 21.6 10.4 16% -52% EPS (diluted) €0.13 €0.31 €0.15 15% -52% Adjusted net profit (1) 8.0
8.3 8.7 9% 5% Adjusted EPS (diluted)(1) €0.11 €0.12 €0.12 7% 4% Revenue grew 13% Y/Y and 3% Q/Q 11% Y/Y and 3% Q/Q constant currency Gross profit margin grew to 60.7%, up 180bps Y/Y Adjusted EBITDA grew to 44.6%, up 150 bps Y/Y Net
profit includes gain on sale of financial asset 3Q 2015 RESULTS Adjusted EBITDA, Adjusted net profit, and Adjusted earnings per diluted share are non-IFRS figures intended to adjust for unusual items. Full definitions can be found on the
“Definitions” section in this slide deck. Reconciliations of Adjusted EBITDA and Adjusted net profit to Net profit can be found in the financial tables later in the appendix of this slide deck.
![Slide 11 Slide 11](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s11g1.jpg)
53.3 % 51.4 % 53.5 % 55.1 % 55.2%
53.1% 53.9% 56.0% 55.1% 56.9% Revenue grew 10% Y/Y, (1%) Q/Q Recurring revenue grew 11% Y/Y, 1% Q/Q Adjusted EBITDA grew 18% Y/Y, 2% Q/Q Strength in Austria and Sweden. Revenue grew 15% Y/Y, 5% Q/Q Recurring revenue grew 17% Y/Y, 4% Q/Q Adjusted
EBITDA grew 19% Y/Y, 5% Q/Q Strength in France, Germany, and the Netherlands Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) France, Germany, the Netherlands, and the UK Rest of Europe Revenue Growth With Increased Margins in Both
Reporting Segments 3Q 2015 REPORTING SEGMENT ANALYSIS Note: Analysis excludes “Corporate & Other” segment.
![Slide 12 Slide 12](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s12g1.jpg)
Capital Expenditures, including
Intangible Assets By Geography (3Q 2015) By Category (3Q 2015) (€ millions) (€ millions) (€ millions) 67.6 47.8 57.0 47.8 Demand-Driven Capital Allocation 35.3 DISCIPLINED INVESTMENTS FOR PROFITABLE GROWTH
![Slide 13 Slide 13](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s13g1.jpg)
Cash position supplements solid
operating cash flow €100 million RCF remains undrawn Fully funded for announced expansion plans Significant covenant headroom Blended interest rate 6.1% 3Q 2015 LTM Cash ROGIC 12% € millions 30-Sept-15 31-Dec-14 Cash & Cash
Equivalents 50.0 99.9 Total Borrowings(1) 541.0 560.6 Shareholders Equity 488.5 436.1 Total Capitalisation 1,029.6 996.7 Total Borrowings / Total Capitalisation 52.5% 56.2% Gross Leverage Ratio(2) 3.3x 3.8x Net Leverage Ratio(3) 3.0x 3.2x STRONG
BALANCE SHEET Total Borrowings = 6.00% Senior Secured Notes due 2020 including premium on additional issue and are shown after deducting underwriting discounts and commissions, offering fees and expenses + Mortgages + Financial Leases +
Revolving facility borrowings + Other Borrowings – Revolving facility deferred financing costs. Gross Leverage Ratio = (6.00% Senior Secured Notes due 2020 at face value + Mortgages + Financial Leases + Revolving facility borrowings+
Other Borrowings) / LTM Adjusted EBITDA. Net Leverage Ratio = (6.00% Senior Secured Notes due 2020 at face value + Mortgages + Financial Leases + Revolving facility balance + Other Borrowings – Cash & Cash Equivalents)
/ LTM Adjusted EBITDA. Strong Balance Sheet Provides Financial Flexibility
![Slide 14 Slide 14](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s14g1.jpg)
28 Fully Built-Out Data Centres
(1)(2) Space fully equipped Some power upgrades yet to come As of 1 January 2014 66,000 sqm of equipped space 83% utilisation 26% annual cash return Fully Built-Out Data Centre: a data centre for which materially all equippable space is equipped.
However, note, future power upgrades and newly acquired space within a data centre can further increase the capacity of a fully built out data centre. 28 Fully Built-Out Data Centres as of 1 January 2014: AMS1, AMS2, AMS3, AMS4, AMS5, AMS6, BRU1,
CPH1, DUB1, DUB 2, FRA1, FRA2, FRA3, FRA4, FRA5, FRA6, FRA7, LON1, LON2, MAD1, PAR1, PAR2, PAR3, PAR4, PAR5, PAR6, STO1 and VIE1. Represents total investments in data centre assets, including freehold land and buildings, infrastructure and
equipment, Intangible assets, and assets under construction as of 31 December 2014. (€ millions) 26% Q3 2015 LTM Returns Attractive Cash Returns from Fully Built-Out Data Centres (1) DISCIPLINED INVESTMENTS DRIVE STRONG RETURNS
![Slide 15 Slide 15](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s15g1.jpg)
BUSINESS COMMENTARY OUTLOOK &
CONCLUDING REMARKS David Ruberg – Chief Executive Officer
![Slide 16 Slide 16](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s16g1.jpg)
Interxion Presence Interxion Campus
with newly announced expansion Interxion Campus with ongoing or recently completed (2Q/3Q) expansions Interxion Campus Dublin London Madrid Paris Marseille Zurich Vienna Frankfurt Brussels Dusseldorf Stockholm Copenhagen Amsterdam EXPANSIONS SUPPORT
CLOUD ROLLOUT PATTERNS Largest GDP coverage in Western Europe Strong footprint in European hubs Strength in strategic gateways to other regions
![Slide 17 Slide 17](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s17g1.jpg)
Range (in € millions) Revenue
Adjusted EBITDA Capital Expenditures €375 – 388 €162 – 172 €180 – 200 GUIDANCE FOR 2015
![Slide 18 Slide 18](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s18g1.jpg)
![Slide 19 Slide 19](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s19g1.jpg)
APPENDIX
![Slide 20 Slide 20](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s20g1.jpg)
CAGR(1) = 14% CAGR(1) = 18% Y/Y
Growth 18% 19% 25% 23% 21% 19% 13% 16% 14% 13% 14% 13% 13% 13% 11% 7% 8% 9% 11% 15% 15% 14% 13% Big 4 % (2) 60% 60% 60% 58% 60% 60% 59% 62% 61% 62% 62% 62% 63% 63% 62% 63% 63% 62% 63% 63% 63% 63% 65% Adjusted EBITDA Margin (3) 36% 39% 38% 38% 38%
39% 40% 42% 42% 41% 41% 43% 43% 43% 43% 43% 43% 43% 43% 43% 44% 44% 45% TRACK RECORD OF EXCECUTION 36 Consecutive Quarters of Organic Revenue and Adjusted EBITDA Growth CAGR calculated as 3Q15 vs. 1Q10. Big 4 % defined as percentage of total revenue
from France, Germany, Netherlands, and UK reporting segment. Adjusted EBITDA margin calculated as Adjusted EBITDA divided by Revenue.
![Slide 21 Slide 21](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s21g1.jpg)
Data Centre Recurring Revenue
Development Space Installed ARPU increases over time as IT workloads increase: Customers initially contract for space and modest power reservation(1) As workloads increase, larger power reservation fees are required and energy consumption increases
Power Reservation & Energy Consumption Customer ARPU Development Revenue grows from space, power reservation, and energy consumption over time As data centres fill with customers: Revenue mix initially tilted toward space As space becomes more
fully utilised, revenue growth from power reservation and energy consumption can continue ILLUSTRATIVE ARPU DEVELOPMENT Revenue Develops Over Time as Power Reservation and Energy Consumption Increase Power Reservation is the fee for infrastructure
power (cooling, power distribution, etc.).
![Slide 22 Slide 22](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s22g1.jpg)
€ in millions (except as
noted) 2013 2014 2015 2013 2014 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY Recurring revenue 71.0 72.2 73.7 74.4 75.9 78.7 80.9 83.7 87.1 90.3 92.8 291.3 319.2
Non-recurring revenue 3.4 4.3 4.3 3.7 4.7 4.9 5.6 6.2 5.4 5.2 5.2 15.8 21.4 Total revenue 74.4 76.5 78.1 78.2 80.6 83.6 86.4 89.9 92.5 95.4 98.0 307.1 340.6 Gross profit 44.8 45.2 46.2 46.8 48.0 49.6 50.9 53.0 56.2 57.8 59.5 183.0 201.6 Gross profit
margin 60.2% 59.1% 59.2% 59.9% 59.6% 59.4% 58.9% 58.9% 60.8% 60.5% 60.7% 59.6% 59.2% Adj EBITDA 31.7 32.7 33.7 33.8 34.5 35.9 37.3 38.7 40.6 42.0 43.7 131.8 146.4 Adj EBITDA Margin 42.6% 42.8% 43.1% 43.2% 42.9% 42.9% 43.1% 43.0% 43.9% 44.0% 44.6%
42.9% 43.0% Net profit / (loss) 7.0 6.6 (16.5)(1) 9.8 10.4 8.3 9.0 7.4 4.4(2) 21.6(2) 10.4(3) 6.8(1) 35.1 CapEx paid 32.8 28.8 26.5 55.3 57.0 54.4 57.0 47.8 67.6 47.8 35.3 143.4 216.3 Expansion/upgrade 28.8 27.1 25.0 52.8 52.7 51.0 51.2 43.7 64.2
44.3 30.4 133.6 198.7 Maintenance & other 2.1 1.5 1.0 2.0 3.7 2.6 5.0 2.9 1.1 2.6 3.0 6.7 14.3 Intangibles 1.9 0.2 0.5 0.5 0.6 0.8 0.8 1.2 2.3 0.9 1.9 3.1 3.3 Cash generated from operations 23.6 24.1 32.0 23.0 34.3 26.9 33.6 40.5 34.2(2) 54.1(2)
43.7(2) 102.7 135.4 Gross PP&E 870.0 900.0 933.5 987.2 1,045.4 1,105.8 1,183.1 1,235.6 1,308.8 1,350.2 1,375.6 987.2 1,235.6 Gross intangible assets 23.5 23.7 24.3 24.9 25.5 26.5 27.5 28.0 30.5 33.6 35.1 24.9 28.0 LTM Cash ROGIC 13% 13% 14% 13%
13% 12% 12% 11% 12% 12% 12% 13% 11% HISTORICAL FINANCIAL RESULTS The Company’s growth has been 100% organic; hence, gross goodwill is zero for all periods. Includes €31 million in one-time charges related to debt refinancing; see
Adjusted Net Profit reconciliation elsewhere in this Appendix. Includes €6.9 million, €3.9 million and, €0.5 million of M&A transaction cost in 1Q15, 2Q15 and 3Q15, respectively; also includes € 20.9 million M&A
transaction break fee income in 2Q15. Includes gain on sale of financial asset.
![Slide 23 Slide 23](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s23g1.jpg)
€ in millions (except as
noted) 2013 2014 2015 2013 2014 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY BIG 4 Recurring revenue 44.4 45.2 46.1 46.5 47.6 49.3 51.0 52.7 55.0 57.3 59.5 182.2
200.6 Non-recurring revenue 2.1 3.1 2.7 2.4 3.1 2.9 3.9 3.7 3.6 3.0 3.8 10.3 13.6 Total revenue 46.6 48.3 48.8 48.9 50.8 52.2 54.9 56.4 58.6 60.3 63.2 192.5 214.2 Gross profit margin 63.2% 62.1% 62.1% 63.1% 61.8% 61.2% 60.5% 60.1% 62.0% 62.6% 62.3%
62.6% 60.9% Adj EBITDA 25.2 26.0 26.6 26.6 27.3 27.9 29.2 29.0 31.4 33.2 34.9 104.4 113.4 Adj EBITDA margin 54.0% 54.0% 54.5% 54.4% 53.8% 53.4% 53.3% 51.4% 53.5% 55.1% 55.2% 54.2% 52.9% REST OF EUROPE Recurring revenue 26.5 27.0 27.7 27.9 28.2 29.4
29.9 31.0 32.1 33.0 33.3 109.1 118.6 Non-recurring revenue 1.3 1.3 1.6 1.4 1.6 2.0 1.7 2.5 1.8 2.2 1.5 5.5 7.8 Total revenue 27.8 28.3 29.3 29.3 29.8 31.4 31.6 33.5 33.9 35.1 34.8 114.7 126.4 Gross profit margin 61.3% 61.4% 60.6% 61.4% 62.2% 62.3%
61.5% 62.3% 64.6% 63.6% 64.3% 61.2% 62.1% Adj EBITDA 14.5 14.7 14.9 15.0 15.8 16.6 16.8 18.1 19.0 19.3 19.8 59.1 67.3 Adj EBITDA margin 52.0% 52.1% 51.0% 51.1% 52.9% 52.9% 53.1% 53.9% 56.0% 55.1% 56.9% 51.5% 53.2% CORPORATE & OTHER Adj EBITDA
(8.0) (8.0) (7.8) (7.8) (8.5) (8.7) (8.7) (8.4) (9.7) (10.6) (11.0) (31.6) (34.3) HISTORICAL SEGMENT FINANCIAL RESULTS
![Slide 24 Slide 24](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s24g1.jpg)
Space figures in square metres(1)
Recurring ARPU in € Customer Available Power in MW(1) 2013 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Equipped space 78,100 78,900 79,300 80,100 82,900 86,000 88,600 93,500
94,800 98,300 100,200 Equipped space added 4,100 800 400 800 2,800 3,100 2,600 4,900 1,300 3,500 1,900 Revenue generating space 57,000 58,200 59,100 59,700 61,400 64,300 68,500 71,000 74,000 77,100 78,000 RGS added 800 1,200 900 600 1,700 2,900
4,200 2,500 3,000 3,100 900 Recurring ARPU(2) 418 418 419 418 418 418 406 400 400 398 399 Utilisation (%)(3) 73% 74% 75% 75% 74% 75% 77% 76% 78% 78% 78% Equipped customer power 79 81 81 82 86 90 96 99 109 114 116 Maximum equippable customer power
108 113 114 127 139 139 145 145 153 154 177 Data centres in operation 33 34 34 34 36 37 38 40 39 40 40 HISTORICAL OPERATING METRICS All figures at the end of the period, except as noted. Maximum equippable customer power includes the announced
maximum equippable customer power from current and announced data centres as at the date of each quarter’s respective report. Recurring ARPU: Monthly recurring revenue per square metre calculated as {reported recurring revenue in the quarter
divided by 3} divided by {sum of prior and current quarter end reported revenue generating space divided by 2}. Utilisation as at the end of the reporting period.
![Slide 25 Slide 25](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s25g1.jpg)
SCHEDULED EQUIPPED SPACE ADDITIONS
Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Future expansion additions based on announced schedule, which is subject to change; additions scheduled for the first half are noted in the second quarter and additions
scheduled for the second half are noted in the fourth quarter. HIL1 space reduced in 1Q13 and exited in 1Q15; AMS2 scheduled for exit in 1Q16E. Space figures in square metres(1) 2013 2014 2015E(2) 2016E(2) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4QE 1QE
2QE 3QE 4QE BIG 4 France 2,700 ‒ ‒ ‒ ‒ ‒ ‒ 600 ‒ ‒ 900 ‒ ‒ ‒ ‒ ‒ Germany 600 ‒ ‒ ‒ 800 1,800 100 1,800
‒ 400 100 ‒ 1800 1,200 ‒ 2,400 Netherlands(3) (200) ‒ ‒ ‒ 1,100 1,000 1,500 1,300 700 1,300 ‒ ‒ (700) ‒ ‒ 2,600 UK 400 ‒ ‒ ‒
‒ 100 100 ‒ ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ Subtotal 3,500 ‒ ‒ ‒ 1,900 2,900 1,700 3,700 700 1,700 1,100 ‒ 1,100 1,200 ‒ 5,000 REST OF EUROPE Austria
‒ ‒ 400 300 ‒ ‒ ‒ 1,300 600 600 ‒ 300 ‒ ‒ ‒ ‒ Belgium ‒ ‒ ‒ ‒ 300 ‒ ‒
‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark ‒ 300 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 500 ‒ Ireland
‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,200 Spain 600 ‒ ‒ ‒ ‒ ‒
‒ ‒ ‒ ‒ 800 ‒ ‒ ‒ ‒ ‒ Sweden ‒ 500 ‒ ‒ 500 ‒ 900 ‒ ‒ 1,100 ‒ ‒ ‒ ‒ ‒ ‒ Switzerland ‒
‒ ‒ 500 ‒ 100 ‒ ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 600 800 400 800 800 100 900 1,300 600 1,800 800 300 ‒ ‒ 500 1,200 Total additional equipped
space 4,100 800 400 800 2,800 3,100 2,600 4,900 1,300 3,500 1,900 300 1,100 1,200 500 6,200
![Slide 26 Slide 26](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s26g1.jpg)
Reconciliation to Adjusted Net
Profit € in millions (except as noted) 2013 2014 2015 2013 2014 1Q 2Q 3Q 4Q(1) 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY Net profit / (Loss) – as reported 7.0 6.6 (16.5) 9.8 10.4 8.3 9.0 7.4 4.4 21.6 10.4 6.8 35.1 Add back +
Refinancing charges ‒ ‒ 31.0 ‒ ‒ 0.6 ‒ ‒ ‒ ‒ ‒ 31.0 0.6 + M&A transaction costs ‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.3 6.9 3.9 0.5
‒ 0.3 + Deferred tax asset adjustment ‒ ‒ 0.6 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.6 ‒ + NL Crisis Wage Tax ‒ ‒ ‒ 0.4
‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.4 ‒ ‒ ‒ 31.6 0.4 ‒ 0.6 ‒ 0.3 6.9 3.9 0.5 32.0 0.9 Reverse - M&A transaction break fee income ‒ ‒
‒ ‒ ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ ‒ - Profit on sale of investment ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (2.3) - Adjustment to onerous leases ‒
‒ ‒ ‒ ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ (0.8) - Interest capitalised (0.7) (0.3) (0.3) (0.4) (0.8) (0.8) (1.3) (0.6) (0.9) (0.7) (0.4) (1.7) (3.6) (0.7) (0.3) (0.3) (0.4) (0.8) (1.6) (1.3) (0.6)
(1.0) (21.6) (2.8) (1.7) (4.4) Tax effect of above add backs & reversals 0.2 0.1 (7.7) ‒ 0.2 0.3 0.3 0.2 (1.4) 4.4 0.6 (7.6) 0.9 Adjusted net profit 6.5 6.4 7.1 9.8 9.8 7.6 8.0 7.2 8.9 8.3 8.7 29.5 32.5 Reported Basic EPS
(€) 0.10 0.10 (0.24) 0.14 0.15 0.12 0.13 0.11 0.06 0.31 0.15 0.10 0.51 Reported Diluted EPS (€) 0.10 0.10 (0.24) 0.14 0.15 0.12 0.13 0.11 0.06 0.31 0.15 0.10 0.50 Adjusted Basic EPS (€) 0.10 0.09 0.10 0.14 0.14 0.11 0.12 0.10 0.13
0.12 0.12 0.43 0.47 Adjusted Diluted EPS (€) 0.09 0.09 0.10 0.14 0.14 0.11 0.11 0.10 0.13 0.12 0.12 0.43 0.46 ADJUSTED NET PROFIT RECONCILIATION With effect from Q4 2013, the company changed the estimated lives of certain data centre assets
categories and applied this change on a prospective basis. In Q4 2013, the impact of the change had a €1.3 million after tax positive effect.
![Slide 27 Slide 27](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s27g1.jpg)
Reconciliation to Adjusted EBITDA
€ in millions (except as noted) 2010 2011 2012 2013 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Q2 3Q 4Q 1Q 2Q 3Q
Net profit / (loss) (4.7) 4.0 5.9 9.5 2.8 5.2 6.9 10.6 8.7 8.7 8.6 5.6 7.0 6.6 (16.5)(1) 9.8 10.4 8.3 9.0 7.4 4.4 21.6 10.4 Income tax expense / (benefit) 1.2 2.9 1.6 (3.2) 2.3 2.3 3.2 1.9 3.9 4.1 4.3 3.5 3.4 3.1
(4.1) 3.7 4.2 3.9 3.9 3.5 2.4 8.2 4.7 Profit / (loss) before taxation (3.5) 6.9 7.5 6.3 5.1 7.5 10.1 12.6 12.6 12.9 12.8 9.1 10.3 9.7 (20.6) 13.4 14.6 12.2 12.8 10.8 6.8 29.8 15.2 Net finance expense 13.5 4.8 5.1 6.1 6.6 6.0 5.3 5.0 4.4 3.9 3.8 5.7
6.5 7.3 38.1(1) 5.6 5.4 7.5 7.0 8.0 6.6 7.9 6.4 Operating profit 10.0 11.7 12.6 12.4 11.7 13.5 15.3 17.5 17.1 16.7 16.6 14.8 16.8 17.1 17.5 19.0 20.0 19.7 19.8 18.8 13.4 37.7 21.6 Depreciation, amortisation and impairments 7.2 7.5 7.8
8.6 8.5 9.6 9.1 8.4 9.7 10.2 11.0 13.1 14.0 14.9 15.2 13.5 14.0 14.9 16.0 17.3 18.2 19.6 20.3 EBITDA 17.2 19.2 20.4 21.0 20.3 23.1 24.4 25.9 26.7 27.0 27.6 27.8 30.8 32.0 32.7 32.5 34.0 34.6 35.9 36.2 31.6 57.3 41.8 Share-based
payments 0.3 0.4 0.4 0.6 0.3 0.3 0.7 1.3 0.7 0.9 1.2 2.6 1.0 0.8 1.1 1.3 0.6 2.1 1.5 2.3 2.2 1.8 1.7 Increase/(decrease) in provision for onerous lease contracts 0.1 0.1 0.1 (0.1) 0.0 ‒ ‒ ‒ ‒ ‒ ‒ 0.8 ‒
‒ ‒ ‒ ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) IPO transaction costs ‒ ‒ ‒ ‒ 1.7 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒
‒ ‒ ‒ ‒ M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (20.9)
‒ M&A transaction costs ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.3 6.9 3.9 0.5 Income from sub-leases on unused data centre
sites (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) Adjusted EBITDA 17.4 19.6 20.8 21.4 22.2 23.3 25.0 27.1 27.3 27.8 28.7 31.2 31.7 32.7 33.7
33.8 34.5 35.9 37.3 38.7 40.6 42.0 43.7 Includes €31 million in one-time charges related to debt refinancing; see Adjusted Net Profit reconciliation elsewhere in this Appendix. NON-IFRS RECONCILIATIONS
![Slide 28 Slide 28](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s28g1.jpg)
Reconciliation to Segment Adjusted
EBITDA € in millions 2013 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q BIG 4 Operating profit 15.9 16.3 16.7 17.6 18.3 18.7 18.4 17.6 19.5 20.3 21.7 Depreciation, amortisation and
impairments 9.1 9.8 9.8 8.7 8.9 9.5 10.5 11.2 11.7 12.5 13.1 EBITDA 25.0 26.1 26.5 26.3 27.2 28.3 28.9 28.7 31.2 32.9 34.8 Share-based payments 0.3 0.0 0.2 0.3 0.2 0.5 0.3 0.4 0.3 0.5 0.4 Increase/(decrease) in provision for onerous lease contracts
‒ ‒ ‒ ‒ ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) Income from sub-leases on unused data centre sites (0.1) (0.1) (0.1) (0.0) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) Adjusted EBITDA 25.2 26.0 26.6 26.6 27.3 27.9 29.2
29.0 31.4 33.2 34.9 ROE Operating profit 10.2 10.2 10.2 10.8 11.5 11.8 11.9 12.6 13.3 13.2 13.5 Depreciation, amortisation and impairments 4.2 4.4 4.6 4.0 4.3 4.5 4.6 5.1 5.4 5.9 6.1 EBITDA 14.4 14.7 14.8 14.9 15.7 16.3 16.5 17.8 18.8 19.1
19.6 Share-based payments 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.2 0.2 0.2 Adjusted EBITDA 14.5 14.7 14.9 15.0 15.8 16.6 16.8 18.1 19.0 19.3 19.8 CORPORATE & OTHER Operating profit/(loss) (9.3) (9.5) (9.5) (9.4) (9.8) (10.9) (10.4) (11.4)
(19.4) 4.2 (13.6) Depreciation, amortisation and impairments 0.7 0.7 0.8 0.8 0.8 0.8 0.9 1.0 1.1 1.1 1.1 EBITDA (8.6) (8.8) (8.6) (8.7) (9.0) (10.0) (9.6) (10.4) (18.3) 5.3 (12.5) Share-based payments 0.6 0.7 0.8 0.9 0.4 1.4 0.8 1.7 1.7 1.1 1.1
M&A transaction costs ‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.3 6.9 3.9 0.5 M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (20.9) ‒ Adjusted EBITDA (8.0) (8.0)
(7.8) (7.8) (8.5) (8.7) (8.7) (8.4) (9.7) (10.6) (11.0) NON-IFRS RECONCILIATIONS
![Slide 29 Slide 29](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s29g1.jpg)
Adjusted EBITDA: EBITDA is defined
as operating profit plus depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, M&A transaction costs, increase/decrease in provision for onerous lease contracts,
M&A transaction break fee income, income from sub-leases of unused data centre sites, and other historical adjustments (e.g., Dutch Crisis wage tax, IPO transaction costs). Adjusted diluted earnings per share: Adjusted diluted earnings per share
amounts are determined on Adjusted net profit Adjusted net profit: Adjusted net profit is defined as Net profit excluding the impact of refinancing charges, M&A transaction costs, M&A transaction break fee income, profit on sale of financial
asset, increase / decrease in the provision for onerous lease contracts, interest capitalised, the related corporate income tax effect with respect to the foregoing items, and other historical adjustments (e.g., Dutch Crisis wage tax, IPO
transaction costs). Big 4: France, Germany, the Netherlands, and the UK CAGR: Compound Annual Growth Rate Capital expenditures including intangible assets: represent payments to acquire property, plant & equipment and intangible assets as
recorded on our consolidated statement of cash flows as "Purchase of property, plant and equipment" and "Purchase of intangible assets“, respectively. Investments in intangibles assets include power grid rights and software development Cash
ROGIC: Cash Return on Gross Invested Capital (Cash ROGIC) defined as (Adjusted EBITDA less maintenance and other capex) divided by {Average of opening and closing (gross PP&E plus gross intangible assets plus gross goodwill)} Corporate and
Other: Unallocated items comprised of mainly general and administrative expenses, assets and liabilities associated with our headquarters operations, provisions for onerous contracts (relating to the discounted amount of future losses expected to be
incurred in respect of unused data centre sites over the term of the relevant leases) and revenue and expenses related to those onerous contracts, loans and borrowings and related expenses and income tax assets and liabilities CDNs: Content
Distribution Networks Churn: contracted Monthly Recurring Revenue which came to an end during the month as a percentage of the total contracted Monthly Recurring Revenue at the beginning of the month Customer Available Power: the current installed
electrical customer capacity. Equipped Space: the amount of data centre space that, on the relevant date, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure IAAS:
Infrastructure as a Service LTM: Last Twelve Months ended 30 September 2015, unless otherwise noted MW: Megawatts PAAS: Platform as a Service SAAS: Software as a Service SQM: Square metres Recurring ARPU: Monthly recurring revenue per square metre
calculated as {reported recurring revenue in the quarter divided by 3} divided by {sum of prior and current quarter end reported revenue generating space divided by 2} Recurring Revenue: revenue that is incurred from colocation and associated power
charges, office space, amortised set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties. Rents received for the sublease of unused sites are excluded Rest of
Europe / ROE: Austria, Belgium, Denmark, Ireland, Spain, Sweden, and Switzerland Revenue Generating Space: the amount of Equipped Space that is under contract and billed on the relevant date Utilisation Rate: on the relevant date, Revenue Generating
Space as a percentage of Equipped Space. Some Equipped Space is not fully utilised due to customers' specific requirements regarding the layout of their equipment. In practice, therefore, Utilisation Rate does not reach 100% YTM: Yield to maturity
Definitions
![Slide 30 Slide 30](http://www.sec.gov/Archives/edgar/data/1500866/000119312515365177/g93337ex99_2s30g1.jpg)
Investor Relations Contact Jim
Huseby VP - Investor Relations +1-813-644-9399 IR@interxion.com
InterXion Holding NV (NYSE:INXN)
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InterXion Holding NV (NYSE:INXN)
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