[August 02, 2017] |
|
Interxion Reports Second Quarter 2017 Results
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 June 2017.
Financial Highlights
-
Revenue increased by 16% to €120.8 million (2Q 2016: €104.0 million).
-
Recurring revenue1 increased by 14% to €113.4 million (2Q
2016: €99.3 million).
-
Net income increased by 13% to €10.3 million (2Q 2016: €9.2 million).
-
Adjusted net income2 increased by 12% to €10.1 million (2Q
2016: €9.0 million).
-
Earnings per diluted share increased by 11% to €0.14 (2Q 2016: €0.13).
-
Adjusted earnings2 per diluted share increased by 12% to
€0.14 (2Q 2016: €0.13).
-
Adjusted EBITDA2 increased by 15% to €54.3 million (2Q
2016: €47.3 million).
-
Adjusted EBITDA margin decreased to 45.0% (2Q 2016: 45.5%).
-
Capital expenditures, including intangible assets3, were
€56.4 million (2Q 2016: €62.6 million).
Operating Highlights
-
Equipped space4 increased by 2,900 square metres in the
quarter to 117,000 square metres.
-
Revenue generating space4 increased by 5,200 square metres
in the quarter to 95,000 square metres.
-
Utilisation rate at the end of the quarter was 81%.
-
During the second quarter, Interxion completed the following
expansions:
-
300 sqm expansion in Copenhagen,
-
900 sqm expansion in Marseille,
-
600 sqm expansion in Paris, and
-
1,100 sqm expansion in Vienna.
"Interxion delivered a strong second quarter as communities of interest
within Interxion facilities continued to grow. Second quarter revenue
growth was 16% year over year and we installed 5,200 square metres of
new revenue generating space," said David Ruberg, Interxion's Chief
Executive Officer. "Demand continues to be strong and we are adding
further capacity to meet that demand. Our strategic focus of developing
robust connectivity and global cloud communities to create value for our
customers has positioned us to grow at the heart of the digital economy."
Quarterly Review
Revenue in the second quarter of 2017 was €120.8 million, a 16% increase
over the second quarter of 2016 and a 6% increase over the first quarter
of 2017. Recurring revenue was €113.4 million, a 14% increase over the
second quarter of 2016 and a 5% increase over the first quarter of 2017.
Recurring revenue in the second quarter represented 94% of total
revenue. On an organic constant currency5 basis, revenue in
the second quarter of 2017 was 16% higher than in the second quarter of
2016 and 5% higher than in the first quarter of 2017.
Cost of sales in the second quarter of 2017 was €47.9 million, a 21%
increase over the second quarter of 2016 and a 9% increase over the
first quarter of 2017.
Gross profit was €72.9 million in the second quarter of 2017, a 13%
increase over the second quarter of 2016 and a 4% increase over the
first quarter of 2017. Gross profit margin was 60.3% in the second
quarter of 2017, compared with 61.9% in the second quarter of 2016 and
61.3% in the first quarter of 2017.
Sales and marketing costs in the second quarter of 2017 were €8.3
million, a 14% increase over the second quarter of 2016 and a 5%
increase from the first quarter of 2017.
Other general and administrative costs, which exclude depreciation,
amortisation, impairments, share-based payments, and M&A transaction
costs, were €10.3 million in the second quarter of 2017, a 6% increase
over the second quarter of 2016 and a 3% decrease from the first quarter
of 2017.
Depreciation, amortisation, and impairments in the second quarter of
2017 was €27.2 million, an increase of 24% from the second quarter of
2016 and a 13% increase from the first quarter of 2017.
Operating income in the second quarter of 2017 was €25.0 million, an
increase of 6% from the second quarter of 2016 and a 2% increase from
the first quarter of 2017.
Net finance expense for the second quarter of 2017 was €10.9 million, a
7% increase over the second quarter of 2016 and an 6% increase over the
first quarter of 2017. Comparisons to prior periods are impacted by the
issuance of €150.0 million of additional 6.00% senior secured notes due
2020 in April 2016 and drawings under our €75.0 million senior secured
revolving facility that we entered into in March 2017.
Income tax expense for the second quarter of 2017 was €3.7 million, an
11% decrease compared with the second quarter of 2016 and a 13% increase
from the first quarter of 2017.
Net income was €10.3 million in the second quarter of 2017, a 13%
increase over the second quarter of 2016 and a 4% decrease from the
first quarter of 2017.
Adjusted net income was €10.1 million in the second quarter of 2017, a
12% increase over the second quarter of 2016 and a 6% decrease from the
first quarter of 2017.
Adjusted EBITDA for the second quarter of 2017 was €54.3 million, a 15%
increase over the second quarter of 2016 and a 6% increase over the
first quarter of 2017. Adjusted EBITDA margin was 45.0% in the second
quarter of 2017, compared with 45.5% in the second quarter of 2016 and
45.1% in the first quarter of 2017.
Cash generated from operations, defined as cash generated from operating
activities before interest and corporate income tax payments and
receipts, was €40.6 million in the second quarter of 2017, compared with
€39.3 million in the second quarter of 2016 and €63.0 million in the
first quarter of 2017.
Capital expenditures, including intangible assets, were €56.4 million in
the second quarter of 2017, compared with €62.6 million in the second
quarter of 2016 and €54.8 million in the first quarter of 2017.
Cash and cash equivalents were €49.2 million at 30 June 2017, compared
with €115.9 million at year end 2016. Total borrowings, net of deferred
revolving facility financing fees, were €777.7 million at 30 June 2017,
compared with €735.0 million at year end 2016. On 9 March 2017, we
entered into a €75.0 million senior secured revolving facility. As of 30
June 2017, €45.0 million was drawn. On 28 July 2017, we increased the
aggregate capacity of this facility to €100.0 million.
The following capacity metrics do not include Science Park. Equipped
space at the end of the second quarter of 2017 was 117,000 square
metres, compared with 104,200 square metres at the end of the second
quarter of 2016 and 114,100 square metres at the end of the first
quarter of 2017. Revenue generating space at the end of the second
quarter of 2017 was 95,000 square metres, compared with 81,600 square
metres at the end of the second quarter of 2016 and 89,800 square metres
at the end of the first quarter of 2017. Utilisation rate, the ratio of
revenue-generating space to equipped space, was 81% at the end of the
second quarter of 2017, compared with 78% at the end of the second
quarter of 2016 and 79% at the end of the first quarter of 2017.
Business Outlook
Interxion today reaffirms guidance for its revenue, Adjusted EBITDA and
capital expenditures (including intangibles) for full year 2017:
Revenue
|
|
€468 million - €483 million
|
Adjusted EBITDA
|
|
€212 million - €222 million
|
Capital expenditures (including intangibles)
|
|
€250 million - €270 million
|
|
|
|
Capital expenditure guidance does not include €77.5 million for the
acquisition of Interxion Science Park in 1Q 2017.
Conference Call to Discuss Results
Interxion will host a conference call today at 8:30 a.m. EDT (1:30 p.m.
BST, 2:30 p.m. CET) to discuss the results.
To participate on this call, U.S. callers may dial toll free
1-866-966-9439; callers outside the U.S. may dial direct +44 (0) 1452
555 566. 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 15 August 2017. 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 48725099.
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 Interxion's expectations include, but are not
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 Interxion's
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.
Non-IFRS Financial Measures
Included in these materials are certain non-IFRS financial measures,
which are measures of our financial performance that are not calculated
and presented in accordance with IFRS, within the meaning of applicable
SEC rules. These measures are as follows: (i) EBITDA; (ii) Adjusted
EBITDA; (iii) Recurring revenue; (iv) Revenue on an organic constant
currency basis; (v) Adjusted net income; (vi) Adjusted basic earnings
per share and (vii) Adjusted diluted earnings per share.
Other companies may present EBITDA, Adjusted EBITDA, Recurring revenue,
Revenue on an organic constant currency basis, Adjusted net income,
Adjusted basic earnings per share and Adjusted diluted earnings per
share differently than we do. Each of these measures are not measures of
financial performance under IFRS and should not be considered as an
alternative to operating income or as a measure of liquidity or an
alternative to Profit for the period attributable to shareholders ("net
income") as indicators of our operating performance or any other measure
of performance implemented in accordance with IFRS.
EBITDA, Adjusted EBITDA, Recurring revenue and Revenue on an organic
constant currency basis
We define EBITDA as net income plus income tax expense, net finance
expense, depreciation, amortisation and impairment of assets.
We define Adjusted EBITDA as EBITDA adjusted for the following items,
which may occur in any period, and which management believes are not
representative of our operating performance:
-
Share-based payments - primarily the fair value at the date of grant
to employees of equity awards, are recognised as an employee expense
over the vesting period. We believe that this expense does not
represent our operating performance.
-
Income or expense related to the evaluation and execution of potential
mergers or acquisitions ("M&A") - under IFRS, gains and losses
associated with M&A activity are recognised in the period in which
such gains or losses are incurred. We exclude these effects because we
believe they are not reflective of our ongoing operating performance.
-
Adjustments related to terminated and unused data centre sites - these
gains and losses relate to historical leases entered into for certain
brownfield sites, with the intention of developing data centres, which
were never developed and for which management has no intention of
developing into data centres. We believe the impact of gains and
losses related to unused data centres are not reflective of our
business activities and our on-going operating performance.
In certain circumstances, we may also adjust for other items that
management believes are not representative of our current on-going
performance. Examples include: adjustments for the cumulative effect of
a change in accounting principle or estimate, impairment losses,
litigation gains and losses or windfall gains and losses.
We define Recurring revenue as revenue incurred monthly from colocation,
connectivity 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,
excluding rents received for the sublease of unused sites.
We believe EBITDA and Adjusted EBITDA and Recurring revenue provide
useful supplemental information to investors regarding our on-going
operational performance. These measures help us and our investors
evaluate the on-going operating performance of the business after
removing the impact of our capital structure (primarily interest
expense) and our asset base (primarily depreciation and amortisation).
Management believes that the presentation of Adjusted EBITDA, when
combined with the primary IFRS presentation of net income, provides a
more complete analysis of our operating performance. Management also
believes the use of EBITDA and Adjusted EBITDA facilitates comparisons
between us and other data centre operators (including other data centre
operators that are REITs) and other infrastructure based businesses.
EBITDA and Adjusted EBITDA are also relevant measures used in the
financial covenants of our €100.0 million revolving credit facility, our
€100.0 million senior secured revolving facility and our 6.00% Senior
Secured Notes due 2020.
A reconciliation from net income to EBITDA and from EBITDA to Adjusted
EBITDA is provided in the tables attached to this press release. EBITDA,
Adjusted EBITDA and other key performance indicators may not be
indicative of our historical results of operations, nor are they meant
to be predictive of future results.
We believe that revenue growth is a key indicator of how a company is
progressing from period to period and presenting organic constant
currency information for revenue provides useful supplemental
information to investors regarding our ongoing operational performance
because it helps us and our investors evaluate the ongoing operating
performance of the business after removing the impact of acquisitions
and of currency exchange rates.
Adjusted net income, Adjusted basic earnings per share and Adjusted
diluted earnings per share
We define Adjusted net income as net income adjusted for the following
items and the related income tax effect, which may occur in any period,
and which management believes are not reflective of our operating
performance:
-
Income or expense related to the evaluation and execution of potential
mergers or acquisitions ("M&A") - under IFRS, gains and losses
associated with M&A activity are recognised in the period in which
such gains or losses are incurred. We exclude these effects because we
believe they are not reflective of our on-going operating performance.
-
Adjustments related to provisions - these adjustments are made for
adjustments in provisions that are not reflective of the on-going
operating performance of Interxion. These adjustments may include
changes in provisions for onerous lease contracts.
-
Adjustments related to capitalised interest - Under IFRS we are
required to calculate and capitalise interest allocated to the
investment in data centres and exclude it from net income. We believe
that reversing the impact of capitalised interest provides information
about the impact of the total interest costs and facilitates
comparisons with other data centre operators.
In certain circumstances, we may also adjust for items that management
believes are not representative of our current on-going performance.
Examples include: adjustments for the cumulative effect of a change in
accounting principle or estimate, impairment losses, litigation gains
and losses or windfall gains and losses.
Management believe that the exclusion of certain items listed above,
provides useful supplemental information to net income to aid investors
in evaluating the operating performance of our business and comparing
our operating performance with other data centre operators and
infrastructure companies. We believe the presentation of Adjusted net
income, when combined with net income (loss) prepared in accordance with
IFRS is beneficial to a complete understanding of our performance. A
reconciliation from reported net income to Adjusted net income is
provided in the tables attached to this press release.
Adjusted basic earnings per share and Adjusted diluted earnings per
share amounts are determined on Adjusted net income.
The company's outlook for 2017 included in this press release, includes
a range for expected Adjusted EBITDA, a non-IFRS financial measure,
which excludes items that management believes are not representative of
our operating performance. These items include, but are not limited to,
share-based payments, income or expense related to the evaluation and
execution of potential mergers or acquisitions, adjustments related to
terminated and unused data centre sites, and other significant items
that currently cannot be predicted. The exact amount of these items is
not currently determinable, but may be significant. Accordingly, the
company is unable to provide equivalent reconciliations from the
corresponding forward-looking IFRS measures to expected Adjusted EBITDA.
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 45 data centres in 11 European countries. Interxion's
uniformly designed, energy efficient data centres offer customers
extensive security and uptime for their mission-critical applications.
With over 600 connectivity providers, 21 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.
This announcement contains inside information under Regulation (EU)
596/2014 (16 April 2014).
1 Recurring revenue is revenue incurred from colocation and
associated power charges, office space, amortised set-up fees,
cross-connects and certain recurring managed services (but excluding any
ad hoc managed services) provided by us directly or through third
parties, excluding rents received for the sublease of unused sites.
2 Adjusted net income (or 'Adjusted earnings') and Adjusted
EBITDA are non-IFRS figures intended to adjust for certain items and are
not measures of financial performance under IFRS. Complete definitions
can be found in the "Non-IFRS Financial Measures" section in this press
release. Reconciliations of net income to Adjusted EBITDA and net income
to Adjusted net income can be found in the financial tables later in
this press release.
3 Capital expenditures, including intangible assets,
represent payments to acquire property, plant, 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.
4 Equipped space and Revenue generating space (and other
metrics derived from these measures) exclude Interxion Science Park,
which was acquired on 24 February 2017.
5 We present organic constant currency information to provide
a framework for assessing how our underlying businesses performed
excluding the effect of acquisitions and foreign currency rate
fluctuations. For purposes of calculating Revenue on an organic constant
currency basis, results from entities acquired during the current and
comparison period are excluded. Also, current and comparative prior
period results for entities reporting in currencies other than Euro are
converted into Euro using the average exchange rates from the prior
period rather than the actual exchange rates in effect during the
current period. The reconciliation of total revenue growth to total
revenue growth on an organic constant currency basis, is as follows:
Three Months Ended 30 June 2017
|
|
Year-on-year
|
|
Sequential
|
|
|
|
|
|
|
|
Reported total revenue growth
|
|
16
|
%
|
|
6
|
%
|
Add back: impact of foreign currency translation
|
|
1
|
%
|
|
0
|
%
|
Reverse: impact of acquired ISP business
|
|
(2
|
%)
|
|
(1
|
%)
|
Total revenue growth on an organic constant currency basis
|
|
16
|
%
|
|
5
|
%
|
|
|
|
|
|
|
|
Percentages may not add due to rounding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
CONDENSED CONSOLIDATED INCOME STATEMENTS
|
(in €'000 ? except per share data and where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
120,823
|
|
|
104,026
|
|
|
234,773
|
|
|
206,026
|
|
Cost of sales
|
|
(47,926
|
)
|
|
(39,663
|
)
|
|
(92,021
|
)
|
|
(78,782
|
)
|
Gross Profit
|
|
72,897
|
|
|
64,363
|
|
|
142,752
|
|
|
127,244
|
|
Other income
|
|
-
|
|
|
33
|
|
|
27
|
|
|
130
|
|
Sales and marketing costs
|
|
(8,285
|
)
|
|
(7,284
|
)
|
|
(16,210
|
)
|
|
(15,008
|
)
|
General and administrative costs
|
|
(39,623
|
)
|
|
(33,568
|
)
|
|
(77,181
|
)
|
|
(65,953
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
24,989
|
|
|
23,544
|
|
|
49,388
|
|
|
46,413
|
|
Net finance expense
|
|
(10,920
|
)
|
|
(10,170
|
)
|
|
(21,207
|
)
|
|
(18,128
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit or loss before income taxes
|
|
14,069
|
|
|
13,374
|
|
|
28,181
|
|
|
28,285
|
|
Income tax expense
|
|
(3,727
|
)
|
|
(4,209
|
)
|
|
(7,027
|
)
|
|
(8,901
|
)
|
Net income
|
|
10,342
|
|
|
9,165
|
|
|
21,154
|
|
|
19,384
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share(a): (€)
|
|
0.15
|
|
|
0.13
|
|
|
0.30
|
|
|
0.28
|
|
Diluted earnings per share(b): (€)
|
|
0.14
|
|
|
0.13
|
|
|
0.30
|
|
|
0.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares outstanding at the end of the period (shares in
thousands)
|
|
71,060
|
|
|
70,479
|
|
|
71,060
|
|
|
70,479
|
|
Weighted average number of shares for Basic EPS (shares in thousands)
|
|
71,035
|
|
|
70,316
|
|
|
70,907
|
|
|
70,163
|
|
Weighted average number of shares for Diluted EPS (shares in
thousands)
|
|
71,739
|
|
|
71,198
|
|
|
71,599
|
|
|
71,018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at
|
|
|
|
|
|
|
|
|
Jun-30
|
|
Jun-30
|
Capacity metrics
|
|
|
|
|
|
|
|
2017
|
|
2016
|
Equipped space (in square meters) (c)
|
|
|
|
|
|
|
|
117,000
|
|
|
104,200
|
|
Revenue generating space (in square meters) (c)
|
|
|
|
|
|
|
|
95,000
|
|
|
81,600
|
|
Utilization rate
|
|
|
|
|
|
|
|
81
|
%
|
|
78
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Basic earnings per share are calculated as net income divided by
the weighted average number of shares for Basic EPS.
|
(b) Diluted earnings per share are calculated as net income divided
by the weighted average number of shares for Diluted EPS.
|
(c) Equipped space and Revenue generating space (and other metrics
derived from these measures) exclude Interxion Science Park, which
was acquired on February 24, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: SEGMENT
INFORMATION
|
(in €'000 ? except where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue
|
|
113,427
|
|
|
99,331
|
|
|
221,702
|
|
|
196,542
|
|
Non-recurring revenue
|
|
7,396
|
|
|
4,695
|
|
|
13,071
|
|
|
9,484
|
|
Revenue
|
|
120,823
|
|
|
104,026
|
|
|
234,773
|
|
|
206,026
|
|
Net income
|
|
10,342
|
|
|
9,165
|
|
|
21,154
|
|
|
19,384
|
|
Net income margin
|
|
8.6
|
%
|
|
8.8
|
%
|
|
9.0
|
%
|
|
9.4
|
%
|
Operating income
|
|
24,989
|
|
|
23,544
|
|
|
49,388
|
|
|
46,413
|
|
Operating income margin
|
|
20.7
|
%
|
|
22.6
|
%
|
|
21.0
|
%
|
|
22.5
|
%
|
Adjusted EBITDA
|
|
54,313
|
|
|
47,346
|
|
|
105,650
|
|
|
93,265
|
|
Gross profit margin
|
|
60.3
|
%
|
|
61.9
|
%
|
|
60.8
|
%
|
|
61.8
|
%
|
Adjusted EBITDA margin
|
|
45.0
|
%
|
|
45.5
|
%
|
|
45.0
|
%
|
|
45.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
1,589,211
|
|
|
1,473,099
|
|
|
1,589,211
|
|
|
1,473,099
|
|
Total liabilities
|
|
1,015,136
|
|
|
946,348
|
|
|
1,015,136
|
|
|
946,348
|
|
Capital expenditure, including intangible assets(a)
|
|
(56,441
|
)
|
|
(62,592
|
)
|
|
(111,198
|
)
|
|
(112,594
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France, Germany, the Netherlands, and the UK
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue
|
|
74,183
|
|
|
63,773
|
|
|
144,181
|
|
|
126,039
|
|
Non-recurring revenue
|
|
4,688
|
|
|
2,608
|
|
|
8,070
|
|
|
5,884
|
|
Revenue
|
|
78,871
|
|
|
66,381
|
|
|
152,251
|
|
|
131,923
|
|
Operating income
|
|
24,784
|
|
|
22,374
|
|
|
48,770
|
|
|
44,056
|
|
Operating income margin
|
|
31.4
|
%
|
|
33.7
|
%
|
|
32.0
|
%
|
|
33.4
|
%
|
Adjusted EBITDA
|
|
43,115
|
|
|
37,012
|
|
|
83,284
|
|
|
73,193
|
|
Gross profit margin
|
|
62.0
|
%
|
|
63.4
|
%
|
|
61.9
|
%
|
|
62.9
|
%
|
Adjusted EBITDA margin
|
|
54.7
|
%
|
|
55.8
|
%
|
|
54.7
|
%
|
|
55.5
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
1,130,979
|
|
|
954,598
|
|
|
1,130,979
|
|
|
954,598
|
|
Total liabilities
|
|
231,445
|
|
|
205,333
|
|
|
231,445
|
|
|
205,333
|
|
Capital expenditure, including intangible assets(a)
|
|
(40,753
|
)
|
|
(43,627
|
)
|
|
(75,819
|
)
|
|
(80,383
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rest of Europe
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Recurring revenue
|
|
39,244
|
|
|
35,558
|
|
|
77,521
|
|
|
70,503
|
|
Non-recurring revenue
|
|
2,708
|
|
|
2,087
|
|
|
5,001
|
|
|
3,600
|
|
Revenue
|
|
41,952
|
|
|
37,645
|
|
|
82,522
|
|
|
74,103
|
|
Operating income
|
|
16,445
|
|
|
15,083
|
|
|
33,155
|
|
|
30,352
|
|
Operating income margin
|
|
39.2
|
%
|
|
40.1
|
%
|
|
40.2
|
%
|
|
41.0
|
%
|
Adjusted EBITDA
|
|
24,041
|
|
|
21,574
|
|
|
47,695
|
|
|
43,089
|
|
Gross profit margin
|
|
65.2
|
%
|
|
65.8
|
%
|
|
66.0
|
%
|
|
66.3
|
%
|
Adjusted EBITDA margin
|
|
57.3
|
%
|
|
57.3
|
%
|
|
57.8
|
%
|
|
58.1
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
379,372
|
|
|
340,529
|
|
|
379,372
|
|
|
340,529
|
|
Total liabilities
|
|
82,176
|
|
|
81,711
|
|
|
82,176
|
|
|
81,711
|
|
Capital expenditure, including intangible assets(a)
|
|
(13,635
|
)
|
|
(16,389
|
)
|
|
(29,852
|
)
|
|
(26,671
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
(16,240
|
)
|
|
(13,913
|
)
|
|
(32,537
|
)
|
|
(27,995
|
)
|
Adjusted EBITDA
|
|
(12,843
|
)
|
|
(11,240
|
)
|
|
(25,329
|
)
|
|
(23,017
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
78,860
|
|
|
177,972
|
|
|
78,860
|
|
|
177,972
|
|
Total liabilities
|
|
701,515
|
|
|
659,304
|
|
|
701,515
|
|
|
659,304
|
|
Capital expenditure, including intangible assets(a)
|
|
(2,053
|
)
|
|
(2,576
|
)
|
|
(5,527
|
)
|
|
(5,540
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Capital expenditure, including intangible assets,
represents payments to acquire property, plant and equipment and
intangible assets,as recorded in the condensed consolidated
statements of cash flows as "Purchase of property, plant and
equipment" and "Purchase of intangible assets," respectively.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED
EBITDA RECONCILIATION
|
(in €'000 ? except where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted EBITDA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
10,342
|
|
|
9,165
|
|
|
21,154
|
|
|
19,384
|
|
Income tax expense
|
|
3,727
|
|
|
4,209
|
|
|
7,027
|
|
|
8,901
|
|
Profit before taxation
|
|
14,069
|
|
|
13,374
|
|
|
28,181
|
|
|
28,285
|
|
Net finance expense
|
|
10,920
|
|
|
10,170
|
|
|
21,207
|
|
|
18,128
|
|
Operating income
|
|
24,989
|
|
|
23,544
|
|
|
49,388
|
|
|
46,413
|
|
Depreciation, amortisation and impairments
|
|
27,209
|
|
|
22,021
|
|
|
51,392
|
|
|
43,498
|
|
EBITDA(1)
|
|
52,198
|
|
|
45,565
|
|
|
100,780
|
|
|
89,911
|
|
Share-based payments
|
|
1,559
|
|
|
1,322
|
|
|
3,568
|
|
|
2,763
|
|
Income or expense related to the evaluation and execution of
potential mergers or acquisitions
|
|
|
|
|
|
|
|
|
|
|
|
|
M&A transaction costs(2)
|
|
556
|
|
|
492
|
|
|
1,329
|
|
|
721
|
|
Items related to terminated or unused data centre sites:
|
|
|
|
|
|
|
|
|
|
|
|
|
Items related to sub-leases on unused data centre sites(3)
|
|
-
|
|
|
(33
|
)
|
|
(27
|
)
|
|
(130
|
)
|
|
|
|
|
|
|
|
|
-
|
|
|
-
|
|
Adjusted EBITDA(1)
|
|
54,313
|
|
|
47,346
|
|
|
105,650
|
|
|
93,265
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
France, Germany, the Netherlands, and the UK
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
24,784
|
|
|
22,374
|
|
|
48,770
|
|
|
44,056
|
|
Depreciation, amortisation and impairments
|
|
18,097
|
|
|
14,543
|
|
|
33,996
|
|
|
28,835
|
|
EBITDA(1)
|
|
42,881
|
|
|
36,917
|
|
|
82,766
|
|
|
72,891
|
|
Share-based payments
|
|
234
|
|
|
128
|
|
|
545
|
|
|
432
|
|
Items related to terminated or unused data centre sites:
|
|
|
|
|
|
|
|
|
|
|
|
|
Items related to sub-leases on unused data centre sites(3)
|
|
-
|
|
|
(33
|
)
|
|
(27
|
)
|
|
(130
|
)
|
Adjusted EBITDA(1)
|
|
43,115
|
|
|
37,012
|
|
|
83,284
|
|
|
73,193
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rest of Europe
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
16,445
|
|
|
15,083
|
|
|
33,155
|
|
|
30,352
|
|
Depreciation, amortisation and impairments
|
|
7,382
|
|
|
6,387
|
|
|
14,340
|
|
|
12,529
|
|
EBITDA(1)
|
|
23,827
|
|
|
21,470
|
|
|
47,495
|
|
|
42,881
|
|
Share-based payments
|
|
214
|
|
|
104
|
|
|
200
|
|
|
208
|
|
Adjusted EBITDA(1)
|
|
24,041
|
|
|
21,574
|
|
|
47,695
|
|
|
43,089
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate and Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income
|
|
(16,240
|
)
|
|
(13,913
|
)
|
|
(32,537
|
)
|
|
(27,995
|
)
|
Depreciation, amortisation and impairments
|
|
1,730
|
|
|
1,091
|
|
|
3,056
|
|
|
2,134
|
|
EBITDA(1)
|
|
(14,510
|
)
|
|
(12,822
|
)
|
|
(29,481
|
)
|
|
(25,861
|
)
|
Share-based payments
|
|
1,111
|
|
|
1,090
|
|
|
2,823
|
|
|
2,123
|
|
Income or expense related to the evaluation and execution of
potential mergers or acquisitions
|
|
|
|
|
|
|
|
|
|
|
|
|
M&A transaction costs(2)
|
|
556
|
|
|
492
|
|
|
1,329
|
|
|
721
|
|
Adjusted EBITDA(1)
|
|
(12,843
|
)
|
|
(11,240
|
)
|
|
(25,329
|
)
|
|
(23,017
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) "EBITDA" and "Adjusted EBITDA" are non-IFRS financial
measures. See "Non-IFRS Financial Measures" for more information on
these measures, including why we believe
that these supplemental measures are useful, and the
limitations on the use of these supplemental measures.
|
(2) "M&A transaction costs" are costs associated with the
evaluation, diligence and conclusion or termination of merger or
acquisition activity. These costs are included in
"General and administrative costs". In the quarter ended 30
June 2017, M&A transaction costs included €0.6 million related to
other activity including the evaluation of
potential asset acquisitions.
|
(3) "Items related to sub-leases on unused data centre sites"
represents the income on sub-lease of portions of unused data
centre sites to third parties. This income is treated as
'Other income.'
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
CONDENSED CONSOLIDATED BALANCE SHEET
|
(in €'000 ? except where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
As at
|
|
|
Jun-30
|
|
Dec-31
|
|
|
2017
|
|
2016
|
Non-current assets
|
|
|
|
|
|
|
Property, plant and equipment
|
|
1,235,319
|
|
|
1,156,031
|
|
Intangible assets
|
|
59,650
|
|
|
28,694
|
|
Goodwill
|
|
39,364
|
|
|
-
|
|
Deferred tax assets
|
|
24,713
|
|
|
20,370
|
|
Other investments
|
|
3,281
|
|
|
1,942
|
|
Other non-current assets
|
|
14,442
|
|
|
11,914
|
|
|
|
1,376,769
|
|
|
1,218,951
|
|
Current assets
|
|
|
|
|
|
|
Trade receivables and other current assets
|
|
163,199
|
|
|
147,821
|
|
Cash and cash equivalents
|
|
49,243
|
|
|
115,893
|
|
|
|
212,442
|
|
|
263,714
|
|
Total assets
|
|
1,589,211
|
|
|
1,482,665
|
|
|
|
|
|
|
|
|
Shareholders' equity
|
|
|
|
|
|
|
Share capital
|
|
7,106
|
|
|
7,060
|
|
Share premium
|
|
526,176
|
|
|
519,604
|
|
Foreign currency translation reserve
|
|
7,473
|
|
|
9,988
|
|
Hedging reserve, net of tax
|
|
(194
|
)
|
|
(243
|
)
|
Accumulated profit
|
|
33,514
|
|
|
12,360
|
|
|
|
574,075
|
|
|
548,769
|
|
Non-current liabilities
|
|
|
|
|
|
|
Other non-current liabilities
|
|
13,505
|
|
|
11,718
|
|
Deferred tax liabilities
|
|
20,888
|
|
|
9,628
|
|
Borrowings
|
|
717,732
|
|
|
723,975
|
|
|
|
752,125
|
|
|
745,321
|
|
Current liabilities
|
|
|
|
|
|
|
Trade payables and other current liabilities
|
|
196,336
|
|
|
171,399
|
|
Income tax liabilities
|
|
6,406
|
|
|
5,694
|
|
Borrowings
|
|
60,269
|
|
|
11,482
|
|
|
|
263,011
|
|
|
188,575
|
|
Total liabilities
|
|
1,015,136
|
|
|
933,896
|
|
Total liabilities and shareholders' equity
|
|
1,589,211
|
|
|
1,482,665
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS
|
(in €'000 ? except where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
As at
|
|
|
Jun-30
|
|
Dec-31
|
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
Borrowings net of cash and cash equivalents
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
49,243
|
|
|
115,893
|
|
|
|
|
|
|
|
|
6.00% Senior Secured Notes due 2020(a)
|
|
628,734
|
|
|
629,327
|
|
Mortgages
|
|
53,057
|
|
|
54,412
|
|
Financial leases
|
|
51,435
|
|
|
51,718
|
|
Other borrowings(b)
|
|
44,775
|
|
|
-
|
|
Borrowings excluding Revolving Facility deferred financing costs
|
|
778,001
|
|
|
735,457
|
|
Revolving Facility deferred financing costs(c)
|
|
(285
|
)
|
|
(426
|
)
|
Total borrowings
|
|
777,716
|
|
|
735,031
|
|
|
|
|
|
|
|
|
Borrowings net of cash and cash equivalents
|
|
728,473
|
|
|
619,138
|
|
|
|
|
|
|
|
|
(a) €625 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.
|
(b) On 28 July 2017, we amended the terms of our €75.0 million
senior secured revolving facility agreement dated 9 March 2017 to
increase the amount available under the facility to €100.0
million and to add a second extension option enabling us to extend
the maturity of this credit facility to 31 December 2018. Also, on
31 July 2017, we extended the maturity of our €100.0 million
senior multicurrency revolving facility agreement dated 17 June 2013
from 3 July 2018 to 31 December 2018.
|
(c) Deferred financing costs of €0.3 million as of 30 June 2017
were incurred in connection with the €100 million revolving facility.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(in €'000 ? except where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
|
2017
|
|
2016((b))
|
|
2017
|
|
2016((b))
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
10,342
|
|
|
9,165
|
|
|
21,154
|
|
|
19,384
|
|
Depreciation, amortisation and impairments
|
|
27,209
|
|
|
22,021
|
|
|
51,392
|
|
|
43,498
|
|
Provision for onerous lease contracts
|
|
-
|
|
|
(392
|
)
|
|
-
|
|
|
(1,271
|
)
|
Share-based payments
|
|
1,528
|
|
|
1,158
|
|
|
2,569
|
|
|
2,558
|
|
Net finance expense
|
|
10,920
|
|
|
10,170
|
|
|
21,207
|
|
|
18,128
|
|
Income tax expense
|
|
3,727
|
|
|
4,209
|
|
|
7,027
|
|
|
8,901
|
|
|
|
53,726
|
|
|
46,331
|
|
|
103,349
|
|
|
91,198
|
|
Movements in trade receivables and other assets
|
|
(16,191
|
)
|
|
(3,732
|
)
|
|
(13,388
|
)
|
|
1,310
|
|
Movements in trade payables and other liabilities
|
|
3,051
|
|
|
(3,264
|
)
|
|
13,581
|
|
|
(2,758
|
)
|
Cash generated from / (used in) operations
|
|
40,586
|
|
|
39,335
|
|
|
103,542
|
|
|
89,750
|
|
Interest and fees paid(a)
|
|
(2,462
|
)
|
|
(1,060
|
)
|
|
(20,912
|
)
|
|
(15,422
|
)
|
Interest received
|
|
8
|
|
|
18
|
|
|
(53
|
)
|
|
25
|
|
Income tax paid
|
|
(2,474
|
)
|
|
(2,484
|
)
|
|
(5,305
|
)
|
|
(3,538
|
)
|
Net cash flows from / (used in) operating activities
|
|
35,658
|
|
|
35,809
|
|
|
77,272
|
|
|
70,815
|
|
Cash flows from / (used in) investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase of property plant and equipment
|
|
(53,399
|
)
|
|
(60,729
|
)
|
|
(106,322
|
)
|
|
(108,176
|
)
|
Financial investments - deposits
|
|
(148
|
)
|
|
-
|
|
|
(366
|
)
|
|
748
|
|
Acquisition Interxion Science Park B.V.
|
|
-
|
|
|
-
|
|
|
(77,517
|
)
|
|
-
|
|
Purchase of intangible assets
|
|
(3,042
|
)
|
|
(1,863
|
)
|
|
(4,876
|
)
|
|
(4,419
|
)
|
Loans provided
|
|
(1,341
|
)
|
|
-
|
|
|
(1,341
|
)
|
|
-
|
|
Net cash flows from / (used in) investing activities
|
|
(57,930
|
)
|
|
(62,592
|
)
|
|
(190,422
|
)
|
|
(111,847
|
)
|
Cash flows from / (used in) financing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from exercised options
|
|
541
|
|
|
4,250
|
|
|
4,088
|
|
|
6,176
|
|
Proceeds from mortgages
|
|
-
|
|
|
14,625
|
|
|
-
|
|
|
14,625
|
|
Repayment of mortgages
|
|
(872
|
)
|
|
(948
|
)
|
|
(1,420
|
)
|
|
(1,268
|
)
|
Proceeds from revolving credit facilities
|
|
-
|
|
|
-
|
|
|
74,775
|
|
|
-
|
|
Repayment Revolving facilities
|
|
-
|
|
|
-
|
|
|
(30,000
|
)
|
|
-
|
|
Proceeds Senior secured notes at 6%
|
|
-
|
|
|
155,346
|
|
|
-
|
|
|
155,346
|
|
Interest received at issue of additional notes
|
|
-
|
|
|
2,225
|
|
|
-
|
|
|
2,225
|
|
Net cash flows from / (used in) financing activities
|
|
(331
|
)
|
|
175,498
|
|
|
47,443
|
|
|
177,104
|
|
Effect of exchange rate changes on cash
|
|
(695
|
)
|
|
147
|
|
|
(943
|
)
|
|
(404
|
)
|
Net increase / (decrease) in cash and cash equivalents
|
|
(23,298
|
)
|
|
148,862
|
|
|
(66,650
|
)
|
|
135,668
|
|
Cash and cash equivalents, beginning of period
|
|
72,541
|
|
|
40,492
|
|
|
115,893
|
|
|
53,686
|
|
Cash and cash equivalents, end of period
|
|
49,243
|
|
|
189,354
|
|
|
49,243
|
|
|
189,354
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Interest and fees paid is reported net of cash interest
capitalised, which is reported as part of "Purchase of property,
plant and equipment."
|
(b) The collaterized cash has been reclassified from "Cash and
cash equivalents" to "Other current assets" and "Other non-current
assets." The impact on the consolidated statement of cash
flows has been presented in investing cash flows. Comparative
figures have been adjusted accordingly.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED NET
INCOME RECONCILIATION
|
(in €'000 ? except per share data and where stated otherwise)
|
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Six Months Ended
|
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
Jun-30
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income - as reported
|
|
10,342
|
|
|
9,165
|
|
|
21,154
|
|
|
19,384
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add back
|
|
|
|
|
|
|
|
|
|
|
|
|
+ M&A transaction costs
|
|
556
|
|
|
492
|
|
|
1,329
|
|
|
721
|
|
|
|
556
|
|
|
492
|
|
|
1,329
|
|
|
721
|
|
Reverse
|
|
|
|
|
|
|
|
|
|
|
|
|
- Interest capitalised
|
|
(853
|
)
|
|
(701
|
)
|
|
(1,765
|
)
|
|
(1,166
|
)
|
|
|
(853
|
)
|
|
(701
|
)
|
|
(1,765
|
)
|
|
(1,166
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tax effect of above add backs & reversals
|
|
74
|
|
|
52
|
|
|
109
|
|
|
111
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted net income
|
|
10,119
|
|
|
9,008
|
|
|
20,827
|
|
|
19,050
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reported basic EPS: (€)
|
|
0.15
|
|
|
0.13
|
|
|
0.30
|
|
|
0.28
|
|
Reported diluted EPS: (€)
|
|
0.14
|
|
|
0.13
|
|
|
0.30
|
|
|
0.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted basic EPS: (€)
|
|
0.14
|
|
|
0.13
|
|
|
0.29
|
|
|
0.27
|
|
Adjusted diluted EPS: (€)
|
|
0.14
|
|
|
0.13
|
|
|
0.29
|
|
|
0.27
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTERXION HOLDING NV
|
Status of Announced Expansion Projects as at 2 August 2017
|
with Target Open Dates after 1 January 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPEX(a)(b)
|
|
Equipped Space(a)
|
|
|
Market
|
|
Project
|
|
(€ million)
|
|
(sqm)
|
|
Target Opening Dates
|
|
|
|
|
|
|
|
|
|
Amsterdam
|
|
AMS8: Phases 1 - 2 New Build
|
|
50
|
|
2,800
|
|
4Q 2016 -1Q 2017(c)
|
Copenhagen
|
|
CPH2: Phase 2
|
|
15
|
|
600
|
|
1Q 2017 - 2Q 2017(d)
|
Frankfurt
|
|
FRA11: Phases 1 - 4 New Build
|
|
95
|
|
4,800
|
|
4Q 2017 - 2Q 2018 (e)
|
Frankfurt
|
|
FRA12: New Build
|
|
19
|
|
1,100
|
|
4Q 2017
|
Frankfurt
|
|
FRA13: Phases 1 - 2 New Build
|
|
90
|
|
4,800
|
|
4Q 2018 - 1Q 2019 (f)
|
London
|
|
LON3: New Build
|
|
35
|
|
1,800
|
|
3Q 2018
|
Marseille
|
|
MRS 1: Phase 3
|
|
20
|
|
1,400
|
|
1Q 2017 - 2Q 2017 (g)
|
Marseille
|
|
MRS2: Phases 1 - 2 New Build
|
|
76
|
|
4,300
|
|
1Q 2018 - 3Q 2018(h)
|
Paris
|
|
PAR7: Phase 2
|
|
37
|
|
2,100
|
|
4Q 2016 - 2Q 2017 (i)
|
Stockholm
|
|
STO5: Phase 1 New Build
|
|
11
|
|
500
|
|
3Q 2017
|
Vienna
|
|
VIE2: Phase 6 - 8
|
|
68
|
|
3,000
|
|
3Q 2016 - 3Q 2018 (j)
|
Zurich
|
|
ZUR1: Phase 3 (cont.)
|
|
1
|
|
400
|
|
3Q17
|
Total
|
|
|
|
€ 517
|
|
27,600
|
|
|
|
|
|
|
|
|
|
|
|
(a) CAPEX and Equipped space are approximate and may change. Figures
are rounded to nearest 100 sqm unless otherwise noted. Totals may
not add due to rounding.
|
(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) AMS8: Phase 1 (1,500 square metres) became operational in 4Q
2016. Phase 2 (1,300 square metres) became operational in 1Q 2017.
|
(d) CPH2: 300 square metres became operational in 1Q 2017; another
300 square metres became operational in 2Q 2017.
|
(e) FRA11: Phases 1 and 2 (1,200 square metres each) are scheduled
to become operational in 4Q 2017; phases 3 & 4 (1,200 square metres
each) are scheduled to become operational in 2Q 2018.
|
(f) FRA13: Phase 1 (2,300 square metres) is scheduled to become
operational in 4Q 2018; phase 2 (2,500 square metres) is scheduled
to become operational in 1Q 2019.
|
(g) MRS1: 600 square metres became operational in 1Q 2017; another
900 square metres became operational in 2Q 2017.
|
(h) MRS2: 900 square metres is scheduled to become operational in
1Q 2018; 1,800 square metres is scheduled to become operational in
3Q 2018. Further phases have not yet been announced.
|
(i) PAR7: 400 square metres became operational in 4Q 2016.1,100
square metres became operational in 1Q 2017; another 600 square
metres became available in 2Q 2017.
|
(j) VIE2: 300 sqm became operational in 3Q 2016; 1,100 square
metres became operational in 2Q 2017; 300 square metres is
scheduled to become operational in 4Q 2017; 700 square metres is
scheduled to become operational in 2Q 2018; 600 square metres is
scheduled to become operational in 3Q 2018.
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20170802005636/en/
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