Form 6-K

 

 

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 2 August 2017

(Commission File No. 001-35053)

 

 

INTERXION HOLDING N.V.

(Translation of Registrant’s 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  ☒             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 registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s 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 registrant’s 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) second quarter 2017 earnings press release and (2) presentation materials to be used during a conference call with investors on 2 August 2017.

 

Exhibit

    
99.1    The press release “Interxion Reports Second Quarter 2017 Results”, dated 2 August 2017.
99.2    Presentation materials to be used during a conference call with investors on 2 August 2017.

 

 


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.

 

  INTERXION HOLDING N.V.
By:  

/s/ David C. Ruberg

Name:   David C. Ruberg
Title:   Chief Executive Officer

Date: 2 August 2017

Exhibit 99.1

Exhibit 99.1

 

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Press Release, 2 August 2017

Interxion Reports Second Quarter 2017 Results

Connectivity, Content and Cloud Communities Drive Strong Growth

Revenue Increased by 16% Year Over Year

AMSTERDAM 2 August 2017 – 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).

 

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Press Release, 2 August 2017

 

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.”

 

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Press Release, 2 August 2017

 

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.

 

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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.

 

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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.

 

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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.

 

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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.

 

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    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

 

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Press Release, 2 August 2017

 

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.

 

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    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.

 

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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.

-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 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.

Contact information:

Interxion

Jim Huseby

Investor Relations

Tel: +1-813-644-9399

IR@interxion.com

This announcement contains inside information under Regulation (EU) 596/2014 (16 April 2014).

 

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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

 

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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  
                 2017     2016  

Capacity metrics

        

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.

 

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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

 

(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.

 

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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  

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
     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’.

 

15


LOGO

Press Release, 2 August 2017

 

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  
  

 

 

   

 

 

 

 

16


LOGO

Press Release, 2 August 2017

 

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.

 

17


LOGO

Press Release, 2 August 2017

 

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 collaterised 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.

 

18


LOGO

Press Release, 2 August 2017

 

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  

 

19


LOGO

Press Release, 2 August 2017

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 2 August 2017

with Target Open Dates after 1 January 2017

 

Market

  

Project

   CAPEX (a)(b)
(€ million)
     Equipped
Space (a)
(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
(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.

 

20

Exhibit 99.2

Slide 1

2Q 2017 Earnings Conference Call NYSE: INXN 2 August 2017 Exhibit 99.2


Slide 2

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, such as EBITDA, adjusted EBITDA, Recurring revenue, Adjusted net income and Adjusted diluted earnings per share. For definitions of these measures and a reconciliation of these measures to the nearest IFRS-measure, please refer to the appendix. The non-IFRS measure Revenue growth on an organic constant currency basis is reconciled in the footnotes within this document. 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

Strategic & Operational Highlights David Ruberg – Chief Executive Officer


Slide 4

Financial Execution Total revenue grew 16% Y/Y 16% Y/Y organic constant currency(1) Recurring revenue grew 14% Y/Y Adjusted EBITDA grew 15% Y/Y Adjusted EBITDA margin at 45.0% Capital expenditure of €56.4 million including intangibles Operational Execution Added 2,900 sqm of new equipped space Opened expansions in Marseille, Paris, Vienna and Copenhagen Remaining projects continue on schedule Announced new data centres in Frankfurt (FRA13) and Marseille (MRS2), and further expansion in Vienna Revenue generating space grew 16% Y/Y(2) Utilisation rate(2) at 81% 2Q 2017 Performance Connectivity, Content and Cloud Communities Drive Strong Growth Total revenue growth Y/Y: 16% reported, adjusted for: 1% FX headwind impact and 2% contribution of Interxion Science Park acquisition. Totals may not add due to rounding Excludes Interxion Science Park.


Slide 5

2Q Revenue €120.8 million Grew 16% Y/Y and 6% Q/Q 2Q Recurring revenue €113.4 million Grew 14% Y/Y and 5% Q/Q 94% of total revenue 2Q Adjusted EBITDA €54.3 million Grew 15% Y/Y and 6% Q/Q 2Q Adjusted EBITDA margin 45.0% 2Q 2017 Financial Highlights Adjusted EBITDA & Margin (€ millions) 45.9% 45.0% Margin 45.5% Revenue (€ millions) Non- recurring revenue Recurring revenue 104.0 105.3 110.5 113.9 44.6% 120.8 45.1% Strong Growth in Total Revenue, Recurring Revenue and Adjusted EBITDA


Slide 6

Equipped space of 117,000 sqm 2,900 sqm added in the quarter Revenue generating space of 95,000 sqm 5,200 sqm installed in the quarter 16% growth in revenue generating space Y/Y Utilisation rate of 81% 2Q 2017 Operational Highlights(1) Equipped & Revenue Generating Space (1,000’s sqm) 104.2 107.8 Available Equipped space Revenue generating space 79% 81% 78% Utilisation 78% 110.8 81.6 84.1 87.2 114.1 89.8 79% All figures exclude Interxion Science Park. 117.0 95.0 Communities of Interest Enhance Value and Drive Installations


Slide 7

Completed expansions: CPH2: ~300sqm MRS1: ~900 sqm PAR7: ~600 sqm VIE2: ~1,100 sqm Recently announced expansions: FRA13: 4,800 sqm new data centre MRS2: 4,300 sqm new data centre VIE2: further 2,300 sqm Expansions totaling over 15,000 sqm opening in 3Q 2017 through 2018 Expanding Facilities To Support Customer Demand Note: Totals may not add due to rounding. As of 2 August 2017. 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. Announced Projects With Current or Pending Expansions(1) (See Appendix for further information) Market Data Centre Project Project CapEx ( € millions) Equipped Space (sqm) Remaining Schedule Project Opened (1) Frankfurt FRA11 Phases 1 - 4 New Build 95 4,800 0 4Q17 – 2Q18 Frankfurt FRA12 Phase 1 New Build 19 1,100 0 4Q17 Frankfurt FRA13 Phases 1 - 2 New Build 90 4,800 0 4Q 2018 - 1Q19 London LON3 Phase 1 New Build 35 1,800 0 3Q18 Marseille MRS2 New Build 76 4,300 0 1Q18 – 3Q18 Stockholm STO5 Phase 1 New Build 11 500 0 3Q17 Vienna VIE2 Phases 1 - 8 New Build 109 6,500 4,200 4Q17 – 3Q18 Zurich ZUR1 Phase 3 (cont.) 1 400 0 3Q17


Slide 8

Communities Of Interest Deliver Significant Customer Value 11% 10% 10% Connectivity Providers Cloud Providers Systems Integrators Financial Services Digital Media / CDNs Enterprises 9% 31% 30% Data / End-user applications Platforms Note: Totals may not add to 100% due to rounding.


Slide 9

Financial Highlights Josh Joshi – Chief Financial Officer


Slide 10

Revenue grew 16% Y/Y and 6% Q/Q Revenue on an organic constant currency basis grew 16% Y/Y and 5% Q/Q(2) GBP approximately 9% of 2Q 2017 total revenue Gross profit margins impacted by elevated non-recurring revenue Recurring ARPU(3) was €403 2Q 2017 Results Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, and Adjusted earnings per share (diluted) are non-IFRS figures intended to adjust for certain items. Full definitions can be found in the “Definitions” section of this presentation. Reconciliations of Adjusted EBITDA and Adjusted net income to Net income can be found in the financial tables later in the appendix of this presentation. Total revenue growth Y/Y: 16% reported, adjusted for: 1% FX headwind impact and 2% contribution of Interxion Science Park acquisition. Q/Q: 6% reported, adjusted for: 0% FX headwind impact and 1% contribution of Interxion Science Park acquisition. Totals may not add due to rounding Recurring ARPU excludes Interxion Science Park. € millions (except per share amounts) 2Q 2016 1Q 2017 2Q 2017 2Q 2017 vs. 2Q 2016 2Q 2017 vs. 1Q 2017 Recurring revenue 99.3 108.3 113.4 14% 5% Revenue 104.0 113.9 120.8 16% 6% Gross profit 64.4 69.9 72.9 13% 4% Gross profit margin 61.9% 61.3% 60.3% (160 bps) (100 bps) Adjusted EBITDA (1) 47.3 51.3 54.3 15% 6% Adjusted EBITDA margin (1) 45.5% 45.1% 45.0% (50 bps) (10 bps) Net income 9.2 10.8 10.3 13% (4%) EPS (diluted) € 0.13 € 0.15 € 0.14 12% (5%) Adjusted net income (1) 9.0 10.7 10.1 12% (6%) Adjusted EPS (diluted) (1) € 0.13 € 0.15 € 0.14 11% (6%)


Slide 11

2Q 2017 Reporting Segment Analysis Revenue grew 11% Y/Y, 3% Q/Q 12% Y/Y and 4% Q/Q constant currency Recurring revenue grew 10% Y/Y, 3% Q/Q Adjusted EBITDA grew 11% Y/Y, 2% Q/Q Strength in Austria, Spain, and Sweden Note: Analysis excludes “Corporate & Other” segment. Total revenue growth Y/Y: 19% reported, adjusted for: 2% FX headwind impact and 3% contribution of Interxion Science Park acquisition. Q/Q: 8% reported, adjusted for: 0% FX headwind impact and 2% contribution of Interxion Science Park acquisition. Totals may not add due to rounding Double Digit Revenue and Adjusted EBITDA growth in Both Reporting Segments Revenue grew 19% Y/Y, 7% Q/Q 18% Y/Y and 6% Q/Q organic constant currency Recurring revenue grew 16% Y/Y, 6% Q/Q Adjusted EBITDA grew 16% Y/Y, 7% Q/Q Strength in France and Germany Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) 55.8% 55.0% 53.9% 57.3% 58.3% 57.5% France, Germany, Netherlands & UK 54.7% 58.3% 54.7% 57.3% Rest of Europe (1) (1)


Slide 12

Disciplined Investments(1) 78% 79% 79% Utilisation 78% 72% of capex invested in Big 4 87% of capex invested in discretionary expansion projects Maintenance & other capex was 6% of total revenue Excludes acquisition of Interxion Science Park for €77.5 million in 1Q 2017. Inclusive of Intangibles. (1) 81% (2) Allocating Expansion Capital to Meet Demand in Six Markets


Slide 13

5.5% blended cost of debt 2Q 2017 LTM Cash ROGIC 11% Leverage (pro forma for Interxion Science Park(4) acquisition): 3.7x gross leverage 3.5x net leverage Amended revolving credit facilities after close of 2Q Extended maturities to the end of 2018 Increased total amount available to €200 million €45 million drawn at 30 June 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 facilities 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 facilities borrowings + Other Borrowings)  /  LTM Adjusted EBITDA. Net Leverage Ratio = (6.00% Senior Secured Notes due 2020 at face value + Mortgages + Financial Leases + Revolving facilities balance + Other Borrowings – Cash & Cash Equivalents)  /  LTM Adjusted EBITDA. LTM Adjusted EBITDA pro forma for Interxion Science Park. Increased Liquidity Provides Flexibility for Future Growth € millions (except per share amounts) 30 - Jun - 17 31 - Dec - 16 Cash & Cash Equivalents 49.2 115.9 Total Borrowings (1) 777.7 735.0 Shareholders Equity 574.1 548.8 Total Capitalisation 1,351.8 1,283.8 Total Borrowings / Total Capitalisation 57.6% 57.3% Gross Leverage Ratio (2) 3.8x 3.8x Net Leverage Ratio (3) 3.6x 3.2x


Slide 14

34 fully built-out data centres(1)(2) Space fully equipped Some power upgrades yet to come As of 1 January 2016 84,100 sqm of equipped space 82% utilisation 6% LTM constant currency recurring revenue growth 23% annual cash return Disciplined Investments Drive Strong Returns Fully built-out data centre: a data centre for which materially all equippable space is equipped as of 1 January 2016. However, note, future power upgrades can further increase the capacity of a fully built out data centre. 34 fully built-out data centres as at 1 January 2016: AMS1, AMS3, AMS4, AMS5, AMS6, AMS7, BRU1, CPH1, DUB1, DUB 2, DUS1, FRA1, FRA2, FRA3, FRA4, FRA5, FRA6, FRA7, FRA8, FRA9, LON1, LON2, MAD1, MAD2, PAR1, PAR2, PAR3, PAR4, PAR5, PAR6, STO1, STO3, STO4 and VIE1. Represents total cumulative investments in Data Centre Assets, including freehold land and buildings, infrastructure and equipment, and Intangible assets including goodwill, as at 30 June 2017. Q2 2017 LTM Returns (€ millions) Attractive Cash Returns from Fully Built - Out Data Centres (1)


Slide 15

Business Commentary Outlook & Concluding Remarks David Ruberg – Chief Executive Officer


Slide 16

Expansions Highlight Locations with Growing Connectivity Proposition Interxion Presence Interxion campus Interxion campus with expansions announced on 31 July, 2017 Marseille Vienna Frankfurt Frankfurt Driven primarily by cloud providers but increasingly augmented by content providers Market leading connectivity, with over 600 networks accessible Marseille Transformed into one of the world’s key connectivity hubs Evolving from primarily a connectivity hub to attracting cloud and content platforms Vienna Connectivity hub serves as a key gateway market to Eastern and Central Europe Equipped Space in Vienna has almost doubled since 2014 Secular trends driving development of communities of interest: B2B cloud platforms expansion B2C content providers reach Strength of connectivity


Slide 17

Guidance for 2017 Revenue €468m – €483m Adjusted EBITDA(1) €212m – €222m Capital Expenditures(2) €250m – €270m Adjusted EBITDA is a non-IFRS measure intended to adjust for certain items. The definition of Adjusted EBITDA can be found in the “Definitions” section of this presentation. A reconciliation of net income to EBITDA and EBITDA to Adjusted EBITDA can be found in the financial tables later in the appendix of this presentation. Excludes the acquisition of Interxion Science Park for €77.5 million in 1Q 2017.


Slide 18

Questions & Answers


Slide 19

Appendix


Slide 20

Track Record Of Execution Note: Includes Interxion Science Park as of 24 Feb. 2017. CAGR calculated as 2Q17 vs. 2Q10. 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. CAGR(1) = 13% CAGR(1) = 16% 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% 45% 45% 46% 46% 45% 45% 45% 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% 12% 10% 9% 7% 10% 16% 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% 64% 64% 64% 65% 64% 65% 43 Consecutive Quarters of Revenue and Adjusted EBITDA Growth 120.8 54.3


Slide 21

Illustrative ARPU Development ARPU increases over time as IT workloads increase: Customers initially contract for space, connectivity and modest power reservation(1) As workloads increase, larger power reservation fees and cross-connects are required and energy consumption increases Revenue grows from space, cross-connects, 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 Power reservation is the fee for infrastructure power (cooling, power distribution, etc.). Customer ARPU Development Data Centre Recurring Revenue Development Power Reservation & Energy Consumption Cross-Connects Space Installed Revenue Develops Over Time as Power Reservation and Energy Consumption Increase


Slide 22

Historical Financial Results Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding. Includes €6.9 million, €3.9 million, €0.5 million, €0.6 million, €0.2 million, €0.5 million, €0.9 million, €0.8 million, €0.8 million and €0.6 million of M&A transaction cost in 1Q15, 2Q15, 3Q15, 4Q15, 1Q16, 2Q16, 3Q16, 4Q16, 1Q17 and Q217, respectively; also includes € 20.9 million M&A transaction break fee income in 2Q15. Includes gain on sale of financial asset. € in millions (except as noted) 2015 2016 2017 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY Recurring revenue 87.1 90.3 92.8 95.1 97.2 99.3 100.0 103.4 108.3 113.4 365.2 400.0 Non-recurring revenue 5.4 5.2 5.2 5.6 4.8 4.7 5.3 7.1 5.7 7.4 21.4 21.8 Total revenue 92.5 95.4 98.0 100.7 102.0 104.0 105.3 110.5 113.9 120.8 386.6 421.8 Gross profit 56.2 57.8 59.5 61.4 62.9 64.4 64.5 67.5 69.9 72.9 234.9 259.2 Gross profit margin 60.8% 60.5% 60.7% 61.1% 61.6% 61.9% 61.3% 61.1% 61.3% 60.3% 60.8% 61.5% Adj EBITDA 40.6 42.0 43.7 44.9 45.9 47.3 48.3 49.3 51.3 54.3 171.3 190.9 Adj EBITDA margin 43.9% 44.0% 44.6% 44.6% 45.0% 45.5% 45.9% 44.6% 45.1% 45.0% 44.3% 45.3% Net profit / (loss) 4.4(1) 21.6(1) 10.4(1)(2) 12.1(1) 10.2(1) 9.2(1) 10.5(1)(2) 10.0(1) 10.8(1) 10.3(1) 48.6(1)(2) 39.9(1)(2) CapEx paid 67.6 47.8 35.3 42.0 50.0 62.6 64.5 73.8 54.8 56.4 192.6 250.9 Expansion / upgrade 64.2 44.3 30.4 36.9 45.3 56.3 58.8 68.2 49.0 46.0 175.7 228.8 Maintenance & other 1.1 2.6 3.0 3.6 2.1 4.4 2.2 4.5 4.0 7.4 10.4 13.2 Intangibles 2.3 0.9 1.9 1.5 2.6 1.9 3.5 1.0 1.8 3.0 6.5 8.9 Cash generated from operations 34.2(1) 54.1(1) 43.0(1) 38.1(1) 50.4(1) 39.3(1) 43.5(1) 50.2(1) 63.0(1) 40.6(1) 169.4(1) 183.4(1) Gross PP&E 1,308.8 1,350.2 1,375.6 1,418.7 1,457.2 1,541.2 1,579.7 1,651.1 1.728.5 1,778.3 1,418.7 1,651.1 Gross intangible assets 30.5 33.6 35.1 34.6 36.5 38.1 43.2 42.3 113.3 114.8 34.6 42.3 Gross Goodwill ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 40.2 39.4 ‒ ‒ LTM Cash ROGIC 12% 12% 12% 12% 12% 11% 12% 11% 11% 11% 12% 11%


Slide 23

Historical Segment Financial Results Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding. € in millions (except as noted) 2015 2016 2017 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY Big 4 Recurring revenue 55.0 57.3 59.5 60.9 62.3 63.8 63.8 66.2 70.0 74.2 232.6 256.0 Non-recurring revenue 3.6 3.0 3.8 3.9 3.3 2.6 3.1 4.8 3.4 4.7 14.3 13.8 Total revenue 58.6 60.3 63.2 64.8 65.5 66.4 66.9 71.0 73.4 78.9 246.9 269.8 Gross profit margin 62.0% 62.6% 62.3% 62.0% 62.4% 63.4% 62.6% 62.0% 61.9% 62.0% 62.2% 62.6% Adj EBITDA 31.4 33.2 34.9 34.8 36.2 37.0 36.8 38.2 40.2 43.1 134.3 148.2 Adj EBITDA margin 53.5% 55.1% 55.2% 53.7% 55.2% 55.8% 55.0% 53.9% 54.7% 54.7% 54.4% 54.9% Rest of Europe Recurring revenue 32.1 33.0 33.3 34.2 35.0 35.6 36.2 37.3 38.3 39.2 132.6 144.0 Non-recurring revenue 1.8 2.2 1.5 1.7 1.5 2.1 2.2 2.2 2.3 2.7 7.1 8.1 Total revenue 33.9 35.1 34.8 35.9 36.5 37.6 38.4 39.5 40.6 42.0 139.6 152.0 Gross profit margin 64.6% 63.6% 64.3% 65.9% 66.9% 65.8% 65.2% 64.3% 66.8% 65.2% 64.6% 65.9% Adj EBITDA 19.0 19.3 19.8 20.8 21.5 21.6 22.4 22.7 23.7 24.0 78.9 88.2 Adj EBITDA margin 56.0% 55.1% 56.9% 57.9% 59.0% 57.3% 58.3% 57.5% 58.3% 57.3% 56.5% 58.0% Corporate & Other Adj EBITDA (9.7) (10.6) (11.0) (10.7) (11.8) (11.2) (10.8) (11.7) (12.5) (12.8) (41.9) (45.5)


Slide 24

Historical Operating Metrics(1) Excludes acquisition of Interxion Science Park except for “Data centres in operation”. 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. Utilisation as at the end of the reporting period. Operating Metrics (excluding “Data centres in operation”) excludes impact from Interxion Science Park. Space figures in square metres(2) Recurring ARPU in € Customer Available Power in MW(2) 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q(4) 2Q(4) Equipped space 94,800 98,300 100,200 101,200 101,600 104,200 107,800 110,800 114,100 117,000 Equipped space added 1,300 3,500 1,900 1,000 400 2,600 3,600 3,000 3,300 2,900 Revenue generating space 74,000 77,100 78,000 79,100 80,400 81,600 84,100 87,200 89,800 95,000 RGS added 3,000 3,100 900 1,100 1,300 1,200 2,500 3,100 2,600 5,200 Recurring ARPU 400 398 399 403 406 409 402 403 405 403 Utilisation (%)(3) 78% 78% 78% 78% 79% 78% 78% 79% 79% 81% Equipped customer power 109 114 116 118 120 123 129 131 136 142 Maximum equippable customer power 153 154 177 179 178 178 187 187 195 203 Data centres in operation 39 40 40 41 41 42 42 44 45 45


Slide 25

Scheduled Equipped Space Additions(1) Excludes acquisition of Interxion Science Park. Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not add due to rounding. Future expansion additions based on announced schedule, which is subject to change; additions scheduled for the first half of the year are noted in the second quarter and additions scheduled for the second half of the year are noted in the fourth quarter. AMS2 exited in 1Q16. Space figures in square metres(2) 2015 2016 2017E(3) 2018E(3) 2019E 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3QE 4QE 1QE 2QE 3QE 4QE FYE Big 4 France  ‒ ‒ 900 ‒ ‒ ‒ 800 500 1,600 1,500 ‒ ‒ 900 ‒ 1,800 ‒ ‒ Germany  ‒  400 100 600 1,200 1,800 2,400 ‒ ‒ ‒ ‒ 3,500 ‒ 2,400 ‒ 2,300 2,500 Netherlands(4)  700 1,300 ‒ ‒ (700) ‒ ‒ 1,500 1,300 ‒ ‒ ‒ ‒ ‒ ‒ ‒ UK  ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,800 ‒ ‒ Subtotal 700 1,700 1,100 600 400 1,800 3,200 2,000 3,000 1,500 ‒ 3,500 900 2,400 3,600 2,300 2,500 Rest of Europe Austria  600 600 ‒ 300 ‒ ‒ 300 ‒ ‒ 1,100 ‒ 300 ‒ 700 600 ‒ ‒ Belgium ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark ‒ ‒ ‒ ‒ ‒ 500 ‒ ‒ 300 300 ‒ ‒ ‒ ‒ ‒ ‒ ‒ Ireland ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Spain ‒ ‒ 800 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Sweden ‒ 1,100 ‒ ‒ ‒ 200 ‒ ‒ 100 ‒ 500 ‒ ‒ ‒ ‒ ‒ ‒ Switzerland ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 400 ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 600 1,800 800 300 ‒ 700 300 1,200 400 1,400 900 300 ‒ 700 600 ‒ ‒ Total additional equipped space 1,300 3,500 1,900 1,000 400 2,600 3,600 3,000 3,300 2,900 900 3,800 900 3,100 4,200 2,300 2,500 10,900 Sqm in 2017E 9,600 Sqm in 2016 7,700Sqm in 2015 10,400 Sqm in 2018E


Slide 26

Space Analysis by Country(1) Space figures in square metres Data Centres in Operation / under Construction Maximum Equippable Space in Country(2) (incl DC’s under construction) Equipped Space in Country Equipped Space Under Construction in Country(3) Unequipped Space Available for Development Big 4 France 8 28,500 23,300 0 5,200 Germany 14 30,200 24,200 5,900 100 Netherlands(4) 7 27,900 22,700 0 5,200 UK 3 8,700 6,900 1,800 0 Subtotal 32 95,300 77,100 7,700 10,500 Rest of Europe Austria 2 11,300 9,000 0 2,300 Belgium 1 5,100 5,000 0 100 Denmark 2 5,400 4,900 0 500 Ireland 3 5,800 4,600 0 1,200 Spain 2 5,700 5,700 0 0 Sweden 5 7,300 4,900 500 1,800 Switzerland 1 7,100 5,800 400 900 Subtotal 16 47,600 39,900 900 6,800 Total 48 142,800 117,000 8,600 17,200 Note: Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not add due to rounding. As of 30 June 2017. Expansions announced after the end of the quarter are excluded. Excludes acquisition of Interxion Science Park Maximum Equippable Space (incl DC’s under construction) = Equipped Space + Under Construction Space + Unequipped Space. Future expansion additions based on announced schedule, which is subject to change; excludes expansions announced after the end of the period. Includes sites on owned and available land, under lease agreement, and options.


Slide 27

Pan-European Data Centre Portfolio(1) Location Owned / Leased Build Out Status(2) Maximum Equippable Space (sqm)(3)(4) Location Owned / Leased Build Out Status(2) Maximum Equippable Space (sqm)(3))4) Big 4 France Netherlands MRS1 Owned Expanding 6,400 AMS1 Leased Fully 600 PAR1 Leased Fully 1,400 AMS3 Owned Fully 3,000 PAR2 Leased Fully 2,900 AMS4 Leased Fully NM (6) PAR3 Owned Fully 1,900 AMS5 Leased Fully 4,300 PAR4 Leased Fully 1,300 AMS6 Owned Fully 4,400 PAR5 Owned Fully 4,000 AMS7 Finance Lease(5) Fully 7,600 PAR6 Leased Fully 1,300 AMS8 Finance Lease Expanding 7,900 PAR7 Finance Lease (5) Expanding 9,300 UK LON1 Leased Fully 5,400 LON2 Leased Fully 1,500 LON3 Leased Under Construction 1,800 Germany DUS1 Leased Fully 3,300 FRA6 Leased Fully 2,200 DUS2 Leased Expanding 1,200 FRA7 Leased Fully 1,500 FRA1 Leased Fully 500 FRA8 Owned Fully 3,700 FRA2 Leased Fully 1,100 FRA9 Leased Fully 800 FRA3 Leased Fully 2,200 FRA10 Owned Expanding 4,800 FRA4 Leased Fully 1,400 FRA11 Owned Under Construction 4,800 FRA5 Leased Fully 1,700 FRA12 Leased Under Construction 1,100 ROE Austria   Spain       VIE1 Owned Fully 4,700 MAD1 Leased Fully 4,000 VIE2 Owned Expanding 6,500 MAD2 Leased Fully 1,700 Belgium     Sweden     BRU1 Owned Fully 5,100 STO1 Leased Fully 1,900 Denmark     STO2 Leased Expanding 1,200 CPH1 Leased Fully 3,700 STO3 Leased Fully 900 CPH2 Owned Expanding 1,600 STO4 Leased Fully 1,100 STO5 Leased Under Construction 2,200 Ireland     Switzerland     DUB1 Leased Fully 1,100 ZUR1 Leased Expanding 7,100 DUB2 Leased Fully 2,300 DUB3 Owned Expanding 2,300 Total 142,800 Note: Totals may not add due to rounding. (1) Excludes Interxion Science Park. (2) Built Out Status as at 1 January 2016, consistent with slide 14 (3) Maximum equippable space as at 30 June 2017. (4) Not included in Maximum Equippable Space, Interxion owns or leases land for data centre development in Copenhagen, Dublin, Frankfurt, Madrid, Marseille and Paris. (5) Purchase options have been exercised, though not yet closed. (6) Maximum equippable space for AMS4 is included in the maximum equippable space of AMS1. Totals: # sqm %         Owned 13 53,400 37% Finance Lease 3 24,800 17% Operating Lease 32 64,700 45% Total 48 142,800 100%


Slide 28

Adjusted Net Income Reconciliation Note: Figures rounded to nearest net € 0.1 million. Totals may not add due to rounding. € in millions (except as noted) 2015 2016 2017 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY Net income – as reported 4.4 21.6 10.4 12.1 10.2 9.2 10.5 10.0 10.8 10.3 48.6 39.9 Add back Refinancing charges  ‒ ‒ ‒ ‒  ‒  ‒  ‒  ‒ ‒ ‒ ‒  ‒ M&A transaction costs 6.9 3.9 0.5 0.6 0.2 0.5 0.9 0.8 0.8 0.6 11.8 2.4 6.9 3.9 0.5 0.6 0.2 0.5 0.9 0.8 0.8 0.6 11.8 2.4 Reverse M&A transaction break fee income ‒ (20.9) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (20.9) ‒ Profit on sale of financial asset ‒ ‒ (2.3) ‒ ‒ ‒ (0.3) ‒ ‒ ‒ (2.3) (0.3) Adjustment for onerous leases (0.1) ‒ (0.1) ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.2) ‒ Increase/(decrease) of finance lease obligation ‒ ‒ ‒ ‒ ‒ ‒ (1.4) ‒ ‒ ‒ ‒ (1.4) Increase/(decrease) in provision for site restoration ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.2) ‒ ‒ ‒ (0.2) Deferred tax asset adjustment ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.8) ‒ ‒ ‒ (0.8) Interest capitalised (0.9) (0.7) (0.4) (0.6) (0.5) (0.7) (1.3) (0.9) (0.9) (0.9) (2.6) (3.4) (1.0) (21.6) (2.8) (0.6) (0.5) (0.7) (3.0) (2.0) (0.9) (0.9) (26.0) (6.1) Tax effect of above add backs & reversals (1.4) 4.4 0.6 0.0 0.1 0.1 0.2 0.1 0.0 0.0 3.5 0.4 Adjusted net income 8.9 8.3 8.7 12.1 10.0 9.0 8.6 9.0 10.7 10.1 37.9 36.6 Reported Basic EPS (€) 0.06 0.31 0.15 0.17 0.15 0.13 0.15 0.14 0.15 0.15 0.70 0.57 Reported Diluted EPS (€) 0.06 0.31 0.15 0.17 0.14 0.13 0.15 0.14 0.15 0.14 0.69 0.56 Adjusted Basic EPS (€) 0.13 0.12 0.12 0.17 0.14 0.13 0.12 0.13 0.15 0.14 0.55 0.52 Adjusted Diluted EPS (€) 0.13 0.12 0.12 0.17 0.14 0.13 0.12 0.13 0.15 0.14 0.54 0.51 Reconciliation to Adjusted net income  


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Non-IFRS Reconciliation Note: Figures rounded to nearest net € 0.1 million. Totals may not add due to rounding. (1) Includes € 31.0 million in one time charges related to debt refinancing. € in millions (except as noted) 2010 2011 2012 2013 2014 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Net income (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 12.1 10.2 9.2 10.5 10.0 10.8 10.3 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 2.6 4.7 4.2 4.5 3.0 3.3 3.7 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 14.7 14.9 13.4 15.0 13.1 14.1 14.1 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 8.1 8.0 10.2 8.6 9.5 10.3 10.9 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 22.8 22.9 23.5 23.6 22.6 24.4 25.0 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 20.2 21.5 22.0 22.1 24.2 24.2 27.2 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 43.0 44.4 45.6 45.7 46.8 48.6 52.2 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 1.5 1.4 1.3 1.8 1.8 2.0 1.6 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 0.6 0.2 0.5 0.9 0.8 0.8 0.6 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) (0.1) (0.1) (0.0) (0.0) 0.0 (0.0) 0.0 Increase/(decrease) in provision for site restoration ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.2) ‒ ‒ 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 44.9 45.9 47.3 48.3 49.3 51.3 54.3 Reconciliation to Adjusted EBITDA


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Non-IFRS Reconciliation Note: Figures rounded to nearest net € 0.1 million. Totals may not add due to rounding. € in millions 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q BIG 4 Operating profit 19.5 20.3 21.7 21.7 21.7 22.4 21.9 21.6 24.0 24.8 Depreciation, amortisation and impairments 11.7 12.5 13.1 13.0 14.3 14.5 14.8 16.5 15.9 18.1 EBITDA 31.2 32.9 34.8 34.7 36.0 36.9 36.7 38.1 39.9 42.9 Share-based payments 0.3 0.5 0.4 0.2 0.3 0.1 0.1 0.3 0.3 0.2 Increase/(decrease) in provision for onerous lease contracts (0.1) ‒ (0.1) ‒ ‒ ‒ ‒ ‒ ‒ ‒ Income from sub-leases on unused data centre sites (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) (0.0) 0.0 (0.0) 0.0 Increase/(decrease) in provision for site restoration ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.2) ‒ ‒ Adjusted EBITDA 31.4 33.2 34.9 34.8 36.2 37.0 36.8 38.2 40.2 43.1   ROE Operating profit 13.3 13.2 13.5 14.4 15.3 15.1 16.0 16.1 16.7 16.4 Depreciation, amortisation and impairments 5.4 5.9 6.1 6.2 6.1 6.4 6.3 6.6 7.0 7.4 EBITDA 18.8 19.1 19.6 20.6 21.4 21.5 22.3 22.6 23.7 23.8 Share-based payments 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 (0.0) 0.2 Adjusted EBITDA 19.0 19.3 19.8 20.8 21.5 21.6 22.4 22.7 23.7 24.0   CORPORATE & OTHER Operating profit/(loss) (19.4) 4.2 (13.6) (13.3) (14.1) (13.9) (14.3) (15.1) (16.3) (16.2) Depreciation, amortisation and impairments 1.1 1.1 1.1 1.0 1.0 1.1 1.0 1.2 1.3 1.7 EBITDA (18.3) 5.3 (12.5) (12.3) (13.0) (12.8) (13.3) (13.9) (15.0) (14.5) Share-based payments 1.7 1.1 1.1 1.1 1.0 1.1 1.6 1.4 1.7 1.1 M&A transaction costs 6.9 3.9 0.5 0.6 0.2 0.5 0.9 0.8 0.8 0.6 M&A transaction break fee income ‒ (20.9) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Adjusted EBITDA (9.7) (10.6) (11.0) (10.7) (11.8) (11.2) (10.8) (11.7) (12.5) (12.8) Reconciliation to Segment Adjusted EBITDA


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Adjusted EBITDA and EBITDA: EBITDA is defined as net profit plus income tax expense, net finance expense, depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted for share-based payments, income or expense related to the evaluation and execution of potential mergers or acquisitions and adjustments related to terminated and unused data centre sites. In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing 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 (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: We define adjusted net profit as net profit adjusted to exclude income or expense related to the evaluation and execution of potential mergers or acquisitions, adjustments to provisions which are not reflective of our ongoing performance, and adjustments related to capitalised interest. In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses (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)} Constant Currency: Measurements of the given metric that eliminate the effects of foreign currency rate fluctuations. To calculate this information, 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 comparative period rather than the actual exchange rates in effect during the respective periods.  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 Definitions


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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 June 2017, unless otherwise noted MW: Megawatts Organic Constant Currency: Measurements of the given metric that eliminate the effects of foreign currency rate fluctuations and the impact of acquisitions. 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 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. 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 (cont.)


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