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 1 November 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) third quarter 2017 earnings press release and (2) presentation materials to be used during a conference call with investors on 1 November 2017.

 

Exhibit

    
99.1    The press release “Interxion Reports Third Quarter 2017 Results”, dated 1 November 2017.
99.2    Presentation materials to be used during a conference call with investors on 1 November 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: 1 November 2017

EX-99.1

Exhibit 99.1

 

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Press Release, 1 November 2017

Interxion Reports Third Quarter 2017 Results

18% Year Over Year Revenue Growth and Strong Bookings

Driven By Growing Demand Across Our Target Segments

AMSTERDAM 1 November 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 September 2017.

Financial Highlights

 

    Revenue increased by 18% to €124.6 million (3Q 2016: €105.3 million).

 

    Recurring revenue1 increased by 17% to €117.4 million (3Q 2016: €100.0 million).

 

    Net income decreased by 4% to €10.1 million (3Q 2016: €10.5 million).

 

    Adjusted net income2 increased by 24% to €10.7 million (3Q 2016: €8.6 million).

 

    Earnings per diluted share decreased to €0.14 (3Q 2016: €0.15).

 

    Adjusted earnings2 per diluted share increased to €0.15 (3Q 2016: €0.12).

 

    Adjusted EBITDA2 increased by 16% to €56.2 million (3Q 2016: €48.3 million).

 

    Adjusted EBITDA margin decreased to 45.1% (3Q 2016: 45.9%).

 

    Capital expenditures, including intangible assets3, were €75.2 million (3Q 2016: €64.5 million).

 

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Press Release, 1 November 2017

 

Operating Highlights

 

    Equipped space4 increased by 1,900 square metres in the quarter to 118,900 square metres.

 

    Revenue generating space4 increased by 2,100 square metres in the quarter to 97,100 square metres.

 

    Utilisation rate at the end of the quarter was 82%.

 

    During the third quarter, Interxion completed the following major expansions:

 

    1,100 sqm expansion in Frankfurt,

 

    300 sqm expansion in Stockholm, and

 

    400 sqm expansion in Zurich.

“Interxion delivered strong financial and operational results in the third quarter, with 18% revenue growth year-over-year, driven by 21% revenue growth in our Big 4 markets and 14% growth in the Rest of Europe,” said David Ruberg, Interxion’s Chief Executive Officer. “Strong and well diversified bookings in the quarter confirmed the value of our communities of interest and reflect the growing demand that we are experiencing across our European footprint and in our target segments. Consequently, we are increasing our full year revenue guidance and narrowing Adjusted EBITDA guidance to the top end of our previously announced range.”

Quarterly Review

Revenue in the third quarter of 2017 was €124.6 million, an 18% increase over the third quarter of 2016 and a 3% increase over the second quarter of 2017. Recurring revenue was €117.4 million, a 17% increase over the third quarter of 2016 and a 3% increase over the second quarter of 2017. Recurring revenue in the third quarter represented 94% of total revenue. On an organic constant currency5 basis, revenue in the third quarter of 2017 was 17% higher than in the third quarter of 2016 and 4% higher than in the second quarter of 2017.

 

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Cost of sales in the third quarter of 2017 was €49.6 million, a 22% increase over the third quarter of 2016 and a 4% increase over the second quarter of 2017.

Gross profit was €75.0 million in the third quarter of 2017, a 16% increase over the third quarter of 2016 and a 3% increase over the second quarter of 2017. Gross profit margin was 60.2% in the third quarter of 2017, compared with 61.3% in the third quarter of 2016 and 60.3% in the second quarter of 2017.

Sales and marketing costs in the third quarter of 2017 were €8.2 million, a 13% increase over the third quarter of 2016 and flat compared to the second quarter of 2017.

Other general and administrative costs, which exclude depreciation, amortisation, impairments, share-based payments and M&A transaction costs were €10.6 million in the third quarter of 2017, a 19% increase over the third quarter of 2016 and a 3% increase from the second quarter of 2017.

Depreciation, amortisation, and impairments in the third quarter of 2017 was €27.8 million, a 26% increase from the third quarter of 2016 and a 2% increase from the second quarter of 2017.

Operating income in the third quarter of 2017 was €25.0 million, an increase of 6% from the third quarter of 2016 and flat compared to the second quarter of 2017.

Net finance expense for the third quarter of 2017 was €10.8 million, a 26% increase over the third quarter of 2016 and a 1% decrease over the second quarter of 2017.

Income tax expense for the third quarter of 2017 was €4.1 million, a 9% decrease compared with the third quarter of 2016 and an 11% increase from the second quarter of 2017.

Net income was €10.1 million in the third quarter of 2017, a 4% decrease over the third quarter of 2016 and a 3% decrease from the second quarter of 2017.

 

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Press Release, 1 November 2017

 

Adjusted net income was €10.7 million in the third quarter of 2017, a 24% increase over the third quarter of 2016 and a 5% increase from the second quarter of 2017.

Adjusted EBITDA for the third quarter of 2017 was €56.2 million, a 16% increase over the third quarter of 2016 and a 3% increase over the second quarter of 2017.

Adjusted EBITDA margin was 45.1% in the third quarter of 2017, compared with 45.9% in the third quarter of 2016 and 45.0% in the second quarter of 2017.

Net cash flows from operating activities were €32.5 million in the third quarter of 2017, compared with €23.2 million in the third quarter of 2016 and €35.7 million in the second quarter of 2017.

Cash generated from operations6, was €55.2 million in the third quarter of 2017, compared with €43.5 million in the third quarter of 2016 and €40.6 million in the second quarter of 2017.

Capital expenditures, including intangible assets, were €75.2 million in the third quarter of 2017, compared with €64.5 million in the third quarter of 2016 and €56.4 million in the second quarter of 2017.

Cash and cash equivalents were €38.2 million at 30 September 2017, compared with €115.9 million at year end 2016.

Total borrowings, net of deferred revolving facility financing fees, were €806.8 million at 30 September 2017, compared with €735.0 million at year end 2016.

All of the capacity metrics below do not include Interxion Science Park.

Equipped space at the end of the third quarter of 2017 was 118,900 square metres, compared with 107,800 square metres at the end of the third quarter of 2016 and 117,000 square metres at the end of the second quarter of 2017.

Revenue generating space at the end of the third quarter of 2017 was 97,100 square metres, compared with 84,100 square metres at the end of the third quarter of 2016 and 95,000 square metres at the end of the second quarter of 2017.

 

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Press Release, 1 November 2017

 

Utilisation rate, the ratio of revenue-generating space to equipped space, was 82% at the end of the third quarter of 2017, compared with 78% at the end of the third quarter of 2016 and 81% at the end of the second quarter of 2017.

Land Purchase in Frankfurt; Expansion in Dublin and Zurich

Interxion today announced the expansion of its Frankfurt campus footprint and the further build out of its DUB3 and ZUR1 data centres.

In Frankfurt, Interxion has expanded its campus footprint by purchasing a parcel of land which can accommodate a data centre of over 7,000 square metres of equipped space. The capital expenditure associated with the Frankfurt land purchase is approximately €10 million.

In Dublin, Interxion will expand its DUB3 data centre by constructing an additional 1,200 square metres of equipped space and adding approximately 1 MW of customer available power. The additional 1,200 square metres of equipped space at DUB3 is scheduled to open in the third quarter of 2018. Capital expenditure associated with the incremental space and power for DUB3 is expected to be approximately €17 million.

In Zurich, Interxion will expand its ZUR1 data centre by constructing an additional 400 square meters of equipped space, which is scheduled to become operational in the first quarter of 2018. The capital expenditure associated with this expansion is expected to be approximately €2 million.

The anticipated 2017 capital expenditure associated with the Frankfurt land purchase and the two data centre expansions is included in the 2017 capital expenditure guidance provided by the Company today.

 

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Press Release, 1 November 2017

 

Business Outlook

Interxion is updating its guidance for full year 2017, increasing its full year revenue guidance, narrowing Adjusted EBITDA guidance to the top end of its previously announced range, and reaffirming capital expenditures (including intangibles) guidance:

 

     Prior Guidance
(in millions)
   Revised Guidance
(in millions)

Revenue

   €468 – €483    €485 – €489

Adjusted EBITDA

   €212 – €222    €220 – €222

Capital expenditures (including intangibles)

   €250 – €270    €250 – €270

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 (12:30 p.m. GMT, 1:30 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 14 November 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 94232527.

 

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Press Release, 1 November 2017

 

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, (vii) Adjusted diluted earnings per share and (viii) Cash generated from operations.

 

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Press Release, 1 November 2017

 

Other companies may present EBITDA, Adjusted EBITDA, Recurring revenue, Revenue on an organic constant currency basis, Adjusted net income, Adjusted basic earnings per share, Adjusted diluted earnings per share and Cash generated from operations 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.

 

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Press Release, 1 November 2017

 

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 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.

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.

 

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Press Release, 1 November 2017

 

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.

 

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Press Release, 1 November 2017

 

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.

Cash generated from operations

Cash generated from operations is defined as net cash flows from operating activities, excluding interest and corporate income tax payments and receipts. Management believe that the exclusion of these items, provides useful supplemental information to net cash flows from operating activities to aid investors in evaluating the cash generating performance of our business.

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.

 

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Press Release, 1 November 2017

 

-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 48 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).

 

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.

 

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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 September 2017

  

Year-on-year

   

Sequential

 

Reported total revenue growth

     18.4     3.2

Add back: impact of foreign currency translation

     0.8     0.6

Reverse: impact of acquired ISP business

     -1.8     0.0
  

 

 

   

 

 

 

Total revenue growth on an organic constant currency basis

     17.4     3.7

Percentages may not add due to rounding    

 

6 We define Cash generated from operations as net cash flows from operating activities, excluding interest and corporate income tax payments and receipts.

 

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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     Nine Months ended  
     Sep-30
2017
    Sep-30
2016
    Sep-30
2017
    Sep-30
2016
 

Revenue

     124,647       105,275       359,420       311,301  

Cost of sales

     (49,608     (40,765     (141,628     (119,547
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross Profit

     75,039       64,510       217,792       191,754  

Other income

     —         12       27       142  

Sales and marketing costs

     (8,247     (7,293     (24,458     (22,301

General and administrative costs

     (41,766     (33,619     (118,947     (99,572
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     25,026       23,610       74,414       70,023  

Net finance expense

     (10,833     (8,628     (32,040     (26,756
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit or loss before income taxes

     14,193       14,982       42,374       43,267  

Income tax expense

     (4,131     (4,521     (11,158     (13,422
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,062       10,461       31,216       29,845  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share (a): (€)

     0.14       0.15       0.44       0.42  

Diluted earnings per share (b): (€)

     0.14       0.15       0.44       0.42  

Number of shares outstanding at the end of the period (shares in thousands)

     71,327       70,527       71,327       70,527  

Weighted average number of shares for Basic EPS (shares in thousands)

     71,195       70,528       71,004       70,286  

Weighted average number of shares for Diluted EPS (shares in thousands)

     71,891       71,463       71,701       71,188  

 

     As at  

Capacity metrics

   Sep-30
2017
    Sep-30
2016
 

Equipped space (in square meters) (c)

     118,900       107,800  

Revenue generating space (in square meters) (c)

     97,100       84,100  

Utilization rate

     82     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     Nine Months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2017     2016     2017     2016  

Consolidated

        

Recurring revenue

     117,392       99,987       339,094       296,528  

Non-recurring revenue

     7,255       5,288       20,326       14,773  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     124,647       105,275       359,420       311,301  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,062       10,461       31,216       29,845  

Net income margin

     8.1     9.9     8.7     9.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     25,026       23,610       74,414       70,023  

Operating income margin

     20.1     22.4     20.7     22.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     56,200       48,331       161,850       141,596  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     60.2     61.3     60.6     61.6

Adjusted EBITDA margin

     45.1     45.9     45.0     45.5

Total assets

     1,620,036       1,457,055       1,620,036       1,457,055  

Total liabilities

     1,034,037       921,269       1,034,037       921,269  

Capital expenditure, including intangible assets(a)

     (75,158     (64,526     (186,356     (177,120

France, Germany, the Netherlands, and the UK

        

Recurring revenue

     76,554       63,809       220,736       189,847  

Non-recurring revenue

     4,279       3,073       12,348       8,958  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     80,833       66,882       233,084       198,805  

Operating income

     24,186       21,937       72,956       65,993  

Operating income margin

     29.9     32.8     31.3     33.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     43,414       36,776       126,697       109,969  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     61.0     62.6     61.6     62.8

Adjusted EBITDA margin

     53.7     55.0     54.4     55.3

Total assets

     1,156,329       949,085       1,156,329       949,085  

Total liabilities

     242,646       194,390       242,646       194,390  

Capital expenditure, including intangible assets(a)

     (51,593     (43,489     (127,412     (123,873

Rest of Europe

        

Recurring revenue

     40,838       36,178       118,358       106,681  

Non-recurring revenue

     2,976       2,215       7,978       5,815  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     43,814       38,393       126,336       112,496  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     18,315       15,974       51,467       46,325  

Operating income margin

     41.8     41.6     40.7     41.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     25,914       22,366       73,610       65,455  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     65.8     65.2     65.9     65.9

Adjusted EBITDA margin

     59.1     58.3     58.3     58.2

Total assets

     388,447       348,314       388,447       348,314  

Total liabilities

     79,875       77,799       79,875       77,799  

Capital expenditure, including intangible assets(a)

     (21,243     (18,514     (51,095     (45,185

Corporate and other

        

Operating income

     (17,475     (14,301     (50,009     (42,295
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (13,128     (10,811     (38,457     (33,828
  

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

     75,260       159,656       75,260       159,656  

Total liabilities

     711,516       649,080       711,516       649,080  

Capital expenditure, including intangible assets(a)

     (2,322     (2,523     (7,849     (8,062

 

(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.

 

15


LOGO

Press Release, 1 November 2017

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED EBITDA RECONCILIATION

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Nine Months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2017     2016     2017     2016  

Reconciliation to Adjusted EBITDA

        

Consolidated

        

Net income

     10,062       10,461       31,216       29,845  

Income tax expense

     4,131       4,521       11,158       13,422  
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before taxation

     14,193       14,982       42,374       43,267  

Net finance expense

     10,833       8,628       32,040       26,756  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     25,026       23,610       74,414       70,023  

Depreciation, amortisation and impairments

     27,790       22,094       79,183       65,592  
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA(1)

     52,816       45,704       153,597       135,615  

Share-based payments

     1,751       1,752       5,319       4,515  

Income or expense related to the evaluation and execution of potential mergers or acquisitions:

        

M&A transaction costs(2)

     1,633       887       2,961       1,608  

Items related to terminated or unused data centre sites:

        

Items related to sub-leases on unused data centre sites(3)

     —         (12     (27     (142
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(1)

     56,200       48,331       161,850       141,596  
  

 

 

   

 

 

   

 

 

   

 

 

 

France, Germany, the Netherlands, and the UK

        

Operating income

     24,186       21,937       72,956       65,993  

Depreciation, amortisation and impairments

     18,788       14,782       52,783       43,617  
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA(1)

     42,974       36,719       125,739       109,610  

Share-based payments

     440       69       985       501  

Items related to terminated or unused data centre sites:

        

Items related to sub-leases on unused data centre sites(3)

     —         (12     (27     (142
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(1)

     43,414       36,776       126,697       109,969  
  

 

 

   

 

 

   

 

 

   

 

 

 

Rest of Europe

        

Operating income

     18,315       15,974       51,467       46,325  

Depreciation, amortisation and impairments

     7,475       6,288       21,819       18,818  
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA(1)

     25,790       22,262       73,286       65,143  

Share-based payments

     124       104       324       312  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(1)

     25,914       22,366       73,610       65,455  
  

 

 

   

 

 

   

 

 

   

 

 

 

Corporate and Other

        

Operating income

     (17,475     (14,301     (50,009     (42,295

Depreciation, amortisation and impairments

     1,527       1,024       4,581       3,157  
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA(1)

     (15,948     (13,277     (45,428     (39,138

Share-based payments

     1,187       1,579       4,010       3,702  

Income or expense related to the evaluation and execution of potential mergers or acquisitions:

        

M&A transaction costs(2)

     1,633       887       2,961       1,608  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(1)

     (13,128     (10,811     (38,457     (33,828
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(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”.
(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’.

 

16


LOGO

Press Release, 1 November 2017

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED BALANCE SHEET

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30     Dec-31  
     2017     2016  

Non-current assets

    

Property, plant and equipment

     1,277,166       1,156,031  

Intangible assets

     59,448       28,694  

Goodwill

     38,900       —    

Deferred tax assets

     25,751       20,370  

Other investments

     3,246       1,942  

Other non-current assets

     14,461       11,914  
  

 

 

   

 

 

 
     1,418,972       1,218,951  

Current assets

    

Trade receivables and other current assets

     162,860       147,821  

Cash and cash equivalents

     38,204       115,893  
  

 

 

   

 

 

 
     201,064       263,714  
  

 

 

   

 

 

 

Total assets

     1,620,036       1,482,665  
  

 

 

   

 

 

 

Shareholders’ equity

    

Share capital

     7,132       7,060  

Share premium

     530,315       519,604  

Foreign currency translation reserve

     5,163       9,988  

Hedging reserve, net of tax

     (187     (243

Accumulated profit

     43,576       12,360  
  

 

 

   

 

 

 
     585,999       548,769  

Non-current liabilities

    

Other non-current liabilities

     14,659       11,718  

Deferred tax liabilities

     21,985       9,628  

Borrowings

     716,749       723,975  
  

 

 

   

 

 

 
     753,393       745,321  

Current liabilities

    

Trade payables and other current liabilities

     183,170       171,399  

Income tax liabilities

     7,165       5,694  

Borrowings

     90,309       11,482  
  

 

 

   

 

 

 
     280,644       188,575  
  

 

 

   

 

 

 

Total liabilities

     1,034,037       933,896  
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     1,620,036       1,482,665  
  

 

 

   

 

 

 

 

17


LOGO

Press Release, 1 November 2017

 

INTERXION HOLDING NV

NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30     Dec-31  
     2017     2016  

Borrowings net of cash and cash equivalents

    

Cash and cash equivalents

     38,204       115,893  
  

 

 

   

 

 

 

6.00% Senior Secured Notes due 2020(a)

     628,437       629,327  

Mortgages

     52,541       54,412  

Financial leases

     51,280       51,718  

Other borrowings(b)

     74,800       —    
  

 

 

   

 

 

 

Borrowings excluding Revolving Facility deferred financing costs

     807,058       735,457  
  

 

 

   

 

 

 

Revolving Facility deferred financing costs(c)

     (290     (426
  

 

 

   

 

 

 

Total borrowings

     806,768       735,031  
  

 

 

   

 

 

 

Borrowings net of cash and cash equivalents

     768,564       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 September 2017 were incurred in connection with the €100 million revolving facility.

 

18


LOGO

Press Release, 1 November 2017

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Nine Months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2017     2016(b)     2017     2016(b)  

Net income

     10,062       10,461       31,216       29,845  

Depreciation, amortisation and impairments

     27,790       22,094       79,183       65,592  

Provision for onerous lease contracts

     —         (261     —         (1,532

Share-based payments

     1,443       1,845       4,012       4,403  

Net finance expense

     10,833       8,628       32,040       26,756  

Income tax expense

     4,131       4,521       11,158       13,422  
  

 

 

   

 

 

   

 

 

   

 

 

 
     54,259       47,288       157,609       138,486  

Movements in trade receivables and other assets

     (266     (4,956     (13,654     (3,646

Movements in trade payables and other liabilities

     1,212       1,135       14,793       (1,623
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated from / (used in) operations

     55,205       43,467       158,748       133,217  

Interest and fees paid(a)

     (19,476     (18,357     (40,389     (33,779

Interest received

     193       44       140       69  

Income tax paid

     (3,439     (1,948     (8,744     (5,486
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) operating activities

     32,483       23,206       109,755       94,021  

Cash flows from / (used in) investing activities

        

Purchase of property plant and equipment

     (73,708     (61,041     (180,030     (169,217

Financial investments - deposits

     30       416       (336     1,164  

Acquisition Interxion Science Park B.V.

     —         —         (77,517     —    

Purchase of intangible assets

     (1,450     (3,485     (6,326     (7,903

Loans provided

     —         (1,942     (1,341     (1,942

Proceeds from sale of financial asset

     —         281       —         281  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) investing activities

     (75,128     (65,771     (265,550     (177,617

Cash flows from / (used in) financing activities

        

Proceeds from exercised options

     2,682       44       6,771       6,220  

Proceeds from mortgages

     —         —         —         14,625  

Repayment of mortgages

     (624     (548     (2,045     (1,816

Proceeds from revolving credit facilities

     30,000       —         104,775       —    

Repayment Revolving facilities

     —         —         (30,000     —    

Proceeds Senior secured notes at 6%

     —         —         —         155,346  

Interest received at issue of additional notes

     —         —         —         2,225  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) financing activities

     32,058       (504     79,501       176,600  

Effect of exchange rate changes on cash

     (452     (187     (1,395     (592
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase / (decrease) in cash and cash equivalents

     (11,039     (43,256     (77,689     92,412  

Cash and cash equivalents, beginning of period

     49,243       189,354       115,893       53,686  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

     38,204       146,098       38,204       146,098  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(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.

 

19


LOGO

Press Release, 1 November 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     Nine Months ended  
     Sep-30
2017
    Sep-30
2016
    Sep-30
2017
    Sep-30
2016
 

Net income - as reported

     10,062       10,461       31,216       29,845  

Add back

        

+ M&A transaction costs

     1,633       887       2,961       1,608  
  

 

 

   

 

 

   

 

 

   

 

 

 
     1,633       887       2,961       1,608  

Reverse

        

- Profit on sale of financial asset

     —         (281     —         (281

- Adjustment of financial lease obligation

     —         (1,410     —         (1,410

- Interest capitalised

     (840     (1,255     (2,605     (2,421
  

 

 

   

 

 

   

 

 

   

 

 

 
     (840     (2,946     (2,605     (4,112

Tax effect of above add backs & reversals

     (198     162       (89     274  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net income

     10,657       8,564       31,483       27,615  
  

 

 

   

 

 

   

 

 

   

 

 

 

Reported basic EPS: (€)

     0.14       0.15       0.44       0.42  

Reported diluted EPS: (€)

     0.14       0.15       0.44       0.42  

Adjusted basic EPS: (€)

     0.15       0.12       0.44       0.39  

Adjusted diluted EPS: (€)

     0.15       0.12       0.44       0.39  

 

20


LOGO

Press Release, 1 November 2017

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 1 November 2017

with Target Open Dates after 1 July 2017

 

          CAPEX (a)(b)       Equipped
Space (a)
      

Market

  

Project

   (€ million)      (sqm)     

Target Opening Dates

Dublin

   DUB3: Phases 3 - 4      17        1,200      3Q 2018

Frankfurt

   FRA11: Phases 1 - 4 New Build      95        4,800      4Q 2017 - 2Q 2018 (c)

Frankfurt

   FRA12: New Build      19        1,100      3Q 2017

Frankfurt

   FRA13: Phases 1 - 2 New Build      90        4,900      4Q 2018 - 1Q 2019 (d)

London

   LON3: New Build      35        1,800      3Q 2018

Marseille

   MRS2: Phases 1 - 2 New Build      76        4,300      3Q 2017 - 4Q 2018(e)

Stockholm

   STO5: Phase 1 New Build      11        600      3Q 2017 - 4Q 2017 (f)

Vienna

   VIE2: Phases 7 - 8      45        2,300      4Q 2017 -3Q 2018(g)

Zurich

   ZUR1: Phase 3 (cont.) - 4      3        800      3Q17 - 1Q 2018 (h)

Total

      391        21,800     

 

(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) 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.
(d) FRA13: Phase 1 (2,300 square metres) is scheduled to become operational in 4Q 2018; phase 2 (2,600 square metres) is scheduled to become operational in 1Q 2019.
(e) MRS2: 100 sqm became operational in 3Q 2017. 700 square metres is scheduled to become operational in 2Q 2018; 1,900 square metres is scheduled to become operational in 4Q 2018. Further phases have not yet been announced.
(f) STO5: 300 sqm became operational in 3Q 2017; 300 sqm is scheduled to become operational in 4Q 2017.
(g) VIE2: 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. Further phases have not yet been announced.
(h) ZUR1: 400 square metres became operational in 3Q 2017; 400 square metres is scheduled to become operational in 1Q 2018.

 

21

EX-99.2

Slide 1

3Q 2017 Earnings Conference Call NYSE: INXN 1 November 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 18% Y/Y 17% Y/Y organic constant currency(1) Recurring revenue grew 17% Y/Y Adjusted EBITDA grew 16% Y/Y Adjusted EBITDA margin at 45.1% Capital expenditure of €75.2 million including intangibles Operational Execution Added 1,900 sqm of new equipped space Opened expansions in Frankfurt, Marseille, Stockholm, and Zurich Remaining projects on track New expansions in Dublin and Zurich Land purchased in Frankfurt Revenue generating space up 15% Y/Y(2) Installed 2,100 sqm of new revenue generating space Utilisation rate(2) at 82% 3Q 2017 Performance Continued Strong Execution With Growing Demand Across Our Target Segments Organic constant currency revenue growth represents total revenue growth adjusted for: + 1% FX impact and (2%) inorganic revenue from Interxion Science Park. Totals may not add due to rounding. Excludes Interxion Science Park.


Slide 5

3Q Revenue €124.6 million Grew 18% Y/Y and 3% Q/Q 3Q Recurring revenue €117.4 million Grew 17% Y/Y and 3% Q/Q 94% of total revenue 3Q Adjusted EBITDA €56.2 million Grew 16% Y/Y and 3% Q/Q 3Q Adjusted EBITDA margin 45.1% 3Q 2017 Financial Highlights Adjusted EBITDA & Margin (€ millions) 44.6% 45.1% Margin 45.9% Revenue (€ millions) Non- recurring revenue Recurring revenue 18% Revenue Growth and 16% Adjusted EBITDA Growth Y/Y 105.3 110.5 113.9 45.1% 120.8 45.0% 124.6


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Equipped space of 118,900 sqm 1,900 sqm added in the quarter Increased equipped space by 11,100 sqm in past 4 quarters Revenue generating space of 97,100 sqm 2,100 sqm installed in the quarter Increased revenue generating space by 13,000 sqm in past 4 quarters Utilisation rate of 82% Cross connect conversion project progressing well 3Q 2017 Operational Highlights(1) Equipped & Revenue Generating Space (1,000’s sqm) 107.8 Available Equipped space Revenue generating space 79% 82% 78% Utilisation 79% 110.8 15% Growth in Revenue Generating Space Y/Y with Increasing Utilisation 114.1 81% All figures exclude Interxion Science Park. 117.0 118.9


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Completed expansions: FRA12: ~1,100 sqm STO5: ~300 sqm ZUR1: ~400 sqm New expansions: DUB3: further 1,200 sqm ZUR1: further 400 sqm Purchased land in Frankfurt for future expansion Announced expansions totaling 15,000 sqm opening 4Q 2017 through end of 2018 Expanding Facilities To Support Customer Demand Note: Totals may not add due to rounding. As of 1 November 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 Expansion Projects With Target Open Dates After 1 July 2017(1) (See Appendix for additional detail) Market Data Centre Project Project CapEx (€ millions) Equipped Space (sqm) Remaining Schedule Project Opened (1) Dublin DUB3 Phases 3-4 17 1,200 0 3Q18 Frankfurt FRA11 Phases 1-4 New Build 95 4,800 0 4Q17 – 2Q18 Frankfurt FRA12 Phase 1 New Build 19 1,100 1,100 3Q17 Frankfurt FRA13 Phases 1-2 New Build 90 4,900 0 4Q18-1Q19 London LON3 Phase 1 New Build 35 1,800 0 3Q18 Marseille MRS2 New Build 76 4,300 100 3Q17 – 4Q18 Stockholm STO5 Phase 1 New Build 11 600 300 3Q17 – 4Q17 Vienna VIE2 Phases 7-8 New Build 45 2,300 0 4Q17 – 3Q18 Zurich ZUR1 Phases 3 (cont.) – 4 3 800 400 3Q17 – 1Q18


Slide 8

Communities Of Interest Deliver Significant Customer Value 11% 10% 10% Connectivity Providers Cloud Providers Systems Integrators Financial Services Digital Media / CDNs Enterprises 8% 30% 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 18% Y/Y and 3% Q/Q Revenue on an organic constant currency basis grew 17% Y/Y and 4% Q/Q(2) GBP approximately 9% of 3Q 2017 total revenue Gross profit margins again impacted by elevated non-recurring revenue Recurring ARPU(3) was €401 3Q 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. Organic constant currency revenue growth represents total revenue growth adjusted for: + 1% FX impact and (2%) inorganic revenue from Interxion Science Park. Organic constant currency revenue growth Q/Q represents total revenue growth adjusted for: 3% reported, 1% FX impact , and 0% inorganic contribution. Totals may not add due to rounding. Recurring ARPU excludes Interxion Science Park. € millions (except per share amounts) 3Q 2016 2Q 2017 3Q 2017 3Q 2017 vs. 3Q 2016 3Q 2017 vs. 2Q 2017 Recurring revenue 100.0 113.4 117.4 17% 3% Revenue 105.3 120.8 124.6 18% 3% Gross profit 64.5 72.9 75.0 16% 3% Gross profit margin 61.3% 60.3% 60.2% (110 bps) (10 bps) Adjusted EBITDA(1) 48.3 54.3 56.2 16% 3% Adjusted EBITDA margin(1) 45.9% 45.0% 45.1% (80 bps) 10 bps Net income 10.5 10.3 10.1 (4%) (3%) EPS (diluted) €0.15 €0.14 €0.14 (4%) (3%) Adjusted net income(1) 8.6 10.1 10.7 24% 5% Adjusted EPS (diluted)(1) €0.12 €0.14 €0.15 24% 5%


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3Q 2017 Reporting Segment Analysis Revenue grew 14% Y/Y, 4% Q/Q 15% Y/Y and 5% Q/Q constant currency Recurring revenue grew 13% Y/Y, 4% Q/Q Adjusted EBITDA grew 16% Y/Y, 8% Q/Q Strength in Austria, Ireland, and Sweden Note: Analysis excludes “Corporate & Other” segment. Totals may not add due to rounding. Big 4: Organic constant currency revenue growth Y/Y represents total revenue growth adjusted for: + 1% FX impact and (3%) inorganic revenue from Interxion Science Park. Organic constant currency revenue growth Q/Q represents total revenue growth adjusted for 1% FX impact and 0% inorganic contribution. ROE: Organic constant currency revenue growth Y/Y represents total revenue growth adjusted for: + 1% FX impact and 0% inorganic revenue from Interxion Science Park. Organic constant currency revenue growth Q/Q represents total revenue growth adjusted for 0.4% FX impact and 0% inorganic contribution. Revenue grew 21% Y/Y, 2% Q/Q 19% Y/Y and 3% Q/Q organic constant currency Recurring revenue grew 20% Y/Y, 3% Q/Q Adjusted EBITDA grew 18% Y/Y, 1% Q/Q Strength in France and Germany Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) 55.0% 53.9% 54.7% 58.3% 57.5% 58.3% France, Germany, Netherlands & UK 54.7% 57.3% 53.7% 59.1% Rest of Europe (1) (2)


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Disciplined Investments(1) 79% 79% 81% Utilisation 78% Allocating Expansion Capital to Meet Growing Demand 69% of capex invested in Big 4 95% of capex invested in discretionary expansion projects(2) Maintenance & other capex was 3% of total revenue Excludes acquisition of Interxion Science Park for €77.5 million in 1Q 2017. Inclusive of Intangibles. Totals may not add due to rounding. (1) 82%


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5.4% blended cost of debt 3Q17 LTM Cash ROGIC 11% Leverage (pro forma for Interxion Science Park(4) acquisition): 3.8x gross leverage 3.6x net leverage €200 million of funding available under RCFs €75 million drawn at 30 September 2017 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. € millions (except per share amounts) 30-Sept-17 31-Dec-16 Cash & Cash Equivalents 38.2 115.9 Total Borrowings(1) 806.8 735.0 Shareholders Equity 586.0 548.8 Total Capitalisation 1,392.8 1,283.8 Total Borrowings / Total Capitalisation 57.9% 57.3% Gross Leverage Ratio(2) 3.8x 3.8x Net Leverage Ratio(3) 3.6x 3.2x Flexible Liquidity to Meet Growing Demand


Slide 14

34 fully built-out data centres(1)(2) Space fully equipped Some power upgrades yet to come As of 1 January 2016 84,200 sqm of equipped space 83% 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 September 2017. Q3 2017 LTM Returns (€ millions) Attractive Cash Returns from Fully Built-Out Data Centres(1)


Slide 15

Track Record Of Execution Note: Includes Interxion Science Park as of 24 Feb. 2017. CAGR calculated as 3Q17 vs. 1Q10. Big 4 % defined as percentage of total revenue from France, Germany, Netherlands, and UK reporting segment. Adjusted EBITDA margin calculated as Adjusted EBITDA divided by Revenue. CAGR(1) = 14% CAGR(1) = 17% 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% 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% 18% 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% 65% 44 Consecutive Quarters of Revenue and Adjusted EBITDA Growth 120.8 54.3


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


Slide 17

Growing Demand in Europe Italy France US Germany UK Netherlands Nordics Ireland Austria Switzerland Belgium Poland Balkans Main Drivers for Growth Continued expansions of B2B and B2C platforms Accelerating enterprise migration to cloud Hybrid cloud and multi-sourcing IT strategies Improving economic environment in Europe Spain Russia Shape of Demand Steady growth sustained over 8 quarters Less pronounced waves of demand than in the US Smaller deployments across many locations Spread out adoption across countries Source: IHS & Interxion Gateway market with Interxion presence Interxion presence No direct presence


Slide 18

Guidance for 2017 Prior Guidance Revised Guidance Revenue €468m – €483m €485m – €489m Adjusted EBITDA(1) €212m – €222m €220m – €222m Capital Expenditures(2) €250m – €270m €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 19

Questions & Answers


Slide 20

Appendix


Slide 21

A leading carrier & cloud neutral data centre operator across Europe Interxion Overview 48 Data Centres 13 Cities 11 Countries 560+ Connectivity Providers 20+ Internet Exchanges 500+ Platform Providers 1,700+ Customers 700+ Employees


Slide 22

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 Revenue Develops Over Time as Power Reservation and Energy Consumption Increase Space Installed


Slide 23

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, €0.6 million and €1.6 million of M&A transaction cost in 1Q15, 2Q15, 3Q15, 4Q15, 1Q16, 2Q16, 3Q16, 4Q16, 1Q17, 2Q17 and 3Q17, 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 3Q FY FY Recurring revenue 87.1 90.3 92.8 95.1 97.2 99.3 100.0 103.4 108.3 113.4 117.4 365.2 400.0 Non-recurring revenue 5.4 5.2 5.2 5.6 4.8 4.7 5.3 7.1 5.7 7.4 7.3 21.4 21.8 Total revenue 92.5 95.4 98.0 100.7 102.0 104.0 105.3 110.5 113.9 120.8 124.6 386.6 421.8 Gross profit 56.2 57.8 59.5 61.4 62.9 64.4 64.5 67.5 69.9 72.9 75.0 234.9 259.2 Gross profit margin 60.8% 60.5% 60.7% 61.1% 61.6% 61.9% 61.3% 61.1% 61.3% 60.3% 60.2% 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 56.2 171.3 190.9 Adj EBITDA margin 43.9% 44.0% 44.6% 44.6% 45.0% 45.5% 45.9% 44.6% 45.1% 45.0% 45.1% 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) 10.1(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 75.2 192.6 250.9 Expansion / upgrade 64.2 44.3 30.4 36.9 45.3 56.3 58.8 68.2 49.0 46.0 69.7 175.7 228.8 Maintenance & other 1.1 2.6 3.0 3.6 2.1 4.4 2.2 4.5 4.0 7.4 4.0 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 1.4 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) 55.2(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 1,844.6 1,418.7 1,651.1 Gross intangible assets 30.5 33.6 35.1 34.6 36.5 38.1 43.2 42.3 113.3 114.8 114.9 34.6 42.3 Gross Goodwill ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 40.2 39.4 38.9 ‒ ‒ LTM Cash ROGIC 12% 12% 12% 12% 12% 11% 12% 11% 11% 11% 11% 12% 11%


Slide 24

Historical Reporting 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 3Q 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 76.6 232.6 256.0 Non-recurring revenue 3.6 3.0 3.8 3.9 3.3 2.6 3.1 4.8 3.4 4.7 4.3 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 80.8 246.9 269.8 Gross profit margin 62.0% 62.6% 62.3% 62.0% 62.4% 63.4% 62.6% 62.0% 61.9% 62.0% 61.0% 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 43.4 134.3 148.2 Adj EBITDA margin 53.5% 55.1% 55.2% 53.7% 55.2% 55.8% 55.0% 53.9% 54.7% 54.7% 53.7% 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 40.8 132.6 144.0 Non-recurring revenue 1.8 2.2 1.5 1.7 1.5 2.1 2.2 2.2 2.3 2.7 3.0 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 43.8 139.6 152.0 Gross profit margin 64.6% 63.6% 64.3% 65.9% 66.9% 65.8% 65.2% 64.3% 66.8% 65.2% 65.8% 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 25.9 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% 59.1% 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) (13.1) (41.9) (45.5)


Slide 25

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 Power in MW(2) 2015 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q(4) 2Q(4) 3Q(4) Equipped space 94,800 98,300 100,200 101,200 101,600 104,200 107,800 110,800 114,100 117,000 118,900 Equipped space added 1,300 3,500 1,900 1,000 400 2,600 3,600 3,000 3,300 2,900 1,900 Revenue generating space 74,000 77,100 78,000 79,100 80,400 81,600 84,100 87,200 89,800 95,000 97,100 RGS added 3,000 3,100 900 1,100 1,300 1,200 2,500 3,100 2,600 5,200 2,100 Recurring ARPU 400 398 399 403 406 409 402 403 405 403 401 Utilisation (%)(3) 78% 78% 78% 78% 79% 78% 78% 79% 79% 81% 82% Equipped customer power 109 114 116 118 120 123 129 131 136 142 146 Maximum equippable customer power 153 154 177 179 178 178 187 187 195 203 223 Data centres in operation 39 40 40 41 41 42 42 44 45 45 48


Slide 26

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 3Q 4QE 1QE 2QE 3QE 4QE FYE Big 4 France  ‒ ‒ 900 ‒ ‒ ‒ 800 500 1,600 1,500 100 ‒ ‒ 700 ‒ 1,900 ‒ Germany  ‒  400 100 600 1,200 1,800 2,400 ‒ ‒ ‒ 1,100 2,400 ‒ 2,400 ‒ 2,300 2,600 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 1,200 2,400 ‒ 3,100 1,800 4,200 2,600 Rest of Europe Austria  600 600 ‒ 300 ‒ ‒ 300 ‒ ‒ 1,100 ‒ 300 ‒ 700 600 ‒ ‒ Belgium ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark ‒ ‒ ‒ ‒ ‒ 500 ‒ ‒ 300 300 ‒ ‒ ‒ ‒ ‒ ‒ ‒ Ireland ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ Spain ‒ ‒ 800 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Sweden ‒ 1,100 ‒ ‒ ‒ 200 ‒ ‒ 100 ‒ 300 300 ‒ ‒ ‒ ‒ ‒ Switzerland ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 400 ‒ 400 ‒ ‒ ‒ ‒ Subtotal 600 1,800 800 300 ‒ 700 300 1,200 400 1,400 700 600 400 700 1,800 ‒ ‒ Total additional equipped space 1,300 3,500 1,900 1,000 400 2,600 3,600 3,000 3,300 2,900 1,900 3,000 400 3,800 3,600 4,200 2,600 11,100 sqm in 2017E 9,600 sqm in 2016 7,700 sqm in 2015 12,000 sqm in 2018E


Slide 27

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 9 32,900 23,400 700 8,700 Germany 15 35,100 25,300 9,700 100 Netherlands 7 27,900 22,700 0 5,200 UK 3 8,700 6,900 1,800 0 Subtotal 34 104,600 78,300 12,200 14,000 Rest of Europe Austria 2 11,300 9,000 1,700 600 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 5,200 300 1,700 Switzerland 1 7,100 6,200 400 500 Subtotal 16 47,500 40,600 2,400 4,600 Total 50 152,100 118,900 14,600 18,600 Note: Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not add due to rounding. As of 30 September 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.


Slide 28

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 MRS2 Leased Expanding 4,400 AMS3 Owned Fully 3,000 PAR1 Leased Fully 1,400 AMS4 Leased Fully NM (6) PAR2 Leased Fully 2,900 AMS5 Leased Fully 4,300 PAR3 Owned Fully 1,900 AMS6 Owned Fully 4,400 PAR4 Leased Fully 1,300 AMS7 Finance Lease(5) Fully 7,600 PAR5 Owned Fully 4,000 AMS8 Finance Lease Expanding 7,900 PAR6 Leased Fully 1,300 UK PAR7 Finance Lease (5) Expanding 9,300 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 Expanding 1,100 FRA13 Owned Under Construction 4,900 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 Expanding 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 152,100 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 September 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 14 58,300 38% Finance Lease 3 24,800 16% Operating Lease 33 69,000 45% Total 50 152,100 100%


Slide 29

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 3Q 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 10.1 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 4.1 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 14.2 Net finance expense 13.5 4.8 5.1 6.1 6.6 6.0 5.3 5.0 4.4 3.9 3.8 5.7 6.5 7.3 38.1(1) 5.6 5.4 7.5 7.0 8.0 6.6 7.9 6.4 8.1 8.0 10.2 8.6 9.5 10.3 10.9 10.8 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 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 27.8 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 52.8 Share-based payments 0.3 0.4 0.4 0.6 0.3 0.3 0.7 1.3 0.7 0.9 1.2 2.6 1.0 0.8 1.1 1.3 0.6 2.1 1.5 2.3 2.2 1.8 1.7 1.5 1.4 1.3 1.8 1.8 2.0 1.6 1.8 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 1.6 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) ‒ ‒ ‒ ‒ ‒ ‒ 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 56.2


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Reconciliation to Segment Adjusted EBITDA 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 3Q BIG 4 Operating profit 19.5 20.3 21.7 21.7 21.7 22.4 21.9 21.6 24.0 24.8 24.2 Depreciation, amortisation and impairments 11.7 12.5 13.1 13.0 14.3 14.5 14.8 16.5 15.9 18.1 18.8 EBITDA 31.2 32.9 34.8 34.7 36.0 36.9 36.7 38.1 39.9 42.9 43.0 Share-based payments 0.3 0.5 0.4 0.2 0.3 0.1 0.1 0.3 0.3 0.2 0.4 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) ‒ ‒ ‒ ‒ ‒ ‒ 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 43.4   ROE Operating profit 13.3 13.2 13.5 14.4 15.3 15.1 16.0 16.1 16.7 16.4 18.3 Depreciation, amortisation and impairments 5.4 5.9 6.1 6.2 6.1 6.4 6.3 6.6 7.0 7.4 7.5 EBITDA 18.8 19.1 19.6 20.6 21.4 21.5 22.3 22.6 23.7 23.8 25.8 Share-based payments 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 (0.0) 0.2 0.1 Adjusted EBITDA 19.0 19.3 19.8 20.8 21.5 21.6 22.4 22.7 23.7 24.0 25.9   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) (17.5) Depreciation, amortisation and impairments 1.1 1.1 1.1 1.0 1.0 1.1 1.0 1.2 1.3 1.7 1.5 EBITDA (18.3) 5.3 (12.5) (12.3) (13.0) (12.8) (13.3) (13.9) (15.0) (14.5) (15.9) Share-based payments 1.7 1.1 1.1 1.1 1.0 1.1 1.6 1.4 1.7 1.1 1.2 M&A transaction costs 6.9 3.9 0.5 0.6 0.2 0.5 0.9 0.8 0.8 0.6 1.6 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) (13.1)


Slide 31

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 generated from operations: net cash flows from operating activities, excluding interest and corporate income tax payments and receipts. 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 Definitions 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. Churn is calculated as a monthly average over the last 12 months. 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 or Last Twelve Months: Twelve month period ended 30 September 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 Recurring cross connect revenue: Revenue incurred from cross connects under a monthly recurring contract 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


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Interxion Leadership David Ruberg, Chief Executive Officer Josh Joshi, Chief Financial Officer Giuliano Di Vitantonio, Chief Marketing & Strategy Officer Jan-Pieter Anten, SVP, Human Resources Jaap Camman, SVP, Legal Adriaan Oosthoek, SVP, IT & Operations Support Sell-Side Analyst Coverage Bank of America Merrill Lynch, Michael Funk Barclays Capital, Amir Rozwadowski Citi, Mike Rollins Cowen, Colby Synesael Guggenheim, Rob Gutman Oppenheimer, Tim Horan Raymond James, Frank Louthan RBC Capital Markets, Jon Atkin Sun Trust Robinson Humphrey, Greg Miller Wells Fargo, Jennifer Fritzsche William Blair, Jim Breen Investor Relations Jim Huseby, VP, Investor Relations T: +1 813 644 9399 E: ir@interxion.com


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