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 7 August 2019

(Commission File No. 001-35053)

 

 

INTERXION HOLDING N.V.

(Translation of Registrant’s Name into English)

 

 

Scorpius 30, 2132 LR Hoofddorp, 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 2019 earnings press release and (2) presentation materials to be used during a conference call with investors on 7 August 2019.

 

Exhibit

    
99.1    The press release “Interxion Reports Second Quarter 2019 Results”, dated 7 August 2019.
99.2    Presentation materials to be used during a conference call with investors on 7 August 2019.


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: 7 August 2019

EX-99.1

Exhibit 99.1

 

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Press Release, 7 August 2019

Interxion Reports Second Quarter 2019 Results

Revenue Growth of 14% Year Over Year

Demand Drives New Investments in Frankfurt, Paris, Marseille and Stockholm

AMSTERDAM 7 August 2019 – Interxion Holding NV (NYSE: INXN), a leading European provider of carrier and cloud-neutral colocation data centre services, today announced its results for the three-month period ended 30 June 2019 and further investments in four markets.

Financial Highlights

 

   

Revenue increased by 14% to €158.5 million (2Q 2018: €138.8 million).

 

   

Recurring revenue(1) increased by 14% to €150.0 million (2Q 2018: €131.7 million).

 

   

Net income increased by €8.0 million to €8.6 million (2Q 2018: €0.6 million).

 

   

Adjusted net income(1) decreased by 16% to €7.5 million (2Q 2018: €8.9 million).

 

   

Diluted earnings per share increased by €0.11 to €0.12 (2Q 2018: €0.01).

 

   

Adjusted diluted earnings per share(1) decreased by 16% to €0.10 (2Q 2018: €0.12).

 

   

Adjusted EBITDA(1) increased by 26% to €80.2 million (2Q 2018: €63.4 million).

 

   

Adjusted EBITDA margin(1) increased to 50.6% (2Q 2018: 45.7%).

 

   

Capital expenditure, including intangible assets(2), were €123.5 million (2Q 2018: €120.5 million).

 

1 

All of the following items are non-IFRS measures intended to adjust for certain items and are not measures of financial performance under IFRS: “Adjusted EBITDA”, “Adjusted EBITDA margin”, “Adjusted EBITDA excluding the impact of IFRS 16”, “Adjusted EBITDA margin excluding the impact of IFRS 16”, “Recurring revenue”, “Revenue on a constant currency basis”, “Adjusted net income”, “Adjusted basic earnings per share”, “Adjusted diluted earnings per share” and “Cash generated from operations”. Complete definitions can be found in the “Non-IFRS Financial Measures” section in this press release. Reconciliations of Net income to Adjusted EBITDA, Adjusted EBITDA to Adjusted EBITDA excluding the impact of IFRS 16, Net income to Adjusted net income and Revenue to Recurring revenue, can be found in the financial tables later in this press release.

2 

Capital expenditure, including intangible assets, represents payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as “Purchase of property, plant and equipment” and “Purchase of intangible assets”, respectively.

 

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Operating Highlights

 

   

Equipped space(3) increased by 6,500 square metres (“sqm”) during the quarter to 154,800 sqm metres.

 

   

Revenue generating space(4) increased by 2,600 sqm during the quarter to 121,600 sqm.

 

   

Utilisation rate(5) at the end of the quarter was 79%.

 

   

During the second quarter, Interxion completed the following capacity additions:

 

   

2,000 sqm in Vienna;

 

   

1,300 sqm in Madrid;

 

   

1,100 sqm in Marseille;

 

   

800 sqm in Stockholm;

 

   

600 sqm in London;

 

   

400 sqm in Paris; and

 

   

300 sqm in Dusseldorf.

 

 

3 

Equipped space is the amount of data centre space that, on the date indicated, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure.

4 

Revenue generating space is the amount of Equipped space that is under contract and billed on the date indicated.

5 

Utilisation rate represents Revenue generating space as a percentage of Equipped space.

 

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“As reflected in the solid second quarter results, Interxion continues to experience favourable demand, driven primarily by the cloud and content platform providers,” said David Ruberg, Interxion’s Chief Executive Officer. “In response to customer demand and orders, we are announcing today incremental investments in Frankfurt, Paris, Marseille and Stockholm. Our recent equity issuance and credit rating upgrade support our ongoing expansion activity, with a focus on sustaining our attractive returns.”

Quarterly Review

As previously noted, the implementation of International Financial Reporting Standard 16 - Leases (“IFRS 16”) on 1 January 2019 reclassified certain expense items, thus impacting the comparability of our results to periods prior to the implementation of IFRS 16. This accounting change had no impact on our revenues or underlying net cash flows. A reconciliation from Adjusted EBITDA and Adjusted EBITDA margin reported after giving effect to IFRS 16 to corresponding measures excluding the impact of IFRS 16 are provided later in this press release.

Revenue in the second quarter of 2019 was €158.5 million, a 14% increase over the second quarter of 2018 and a 5% increase over the first quarter of 2019. Recurring revenue was €150.0 million, a 14% increase over the second quarter of 2018 and a 3% increase over the first quarter of 2019. Recurring revenue in the second quarter represented 95% of total revenue. On a constant currency(6) basis, revenue in the second quarter of 2019 was 14% higher than in the second quarter of 2018.

Cost of sales in the second quarter of 2019 was €54.7 million, a 2% increase over the second quarter of 2018 and a 9% increase over the first quarter of 2019.

Gross profit was €103.7 million in the second quarter of 2019, a 22% increase over the second quarter of 2018 and a 3% increase over the first quarter of 2019. Gross profit margin was 65.5% in the second quarter of 2019, compared with 61.3% in the second quarter of 2018 and 66.7% in the first quarter of 2019.

 

 

6 

We present constant currency information to assess how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present 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 prior period rather than the actual exchange rates in effect during the current period.

 

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Sales and marketing costs in the second quarter of 2019 were €9.4 million, a 2% decrease over the second quarter of 2018 and a 3% increase over the first quarter of 2019.

General and administrative costs, excluding the items we adjust for in the determination of Adjusted EBITDA, were €14.2 million in the second quarter of 2019, a 17% increase over the second quarter of 2018 and a 4% decrease from the first quarter of 2019.

Depreciation and amortisation in the second quarter of 2019 were €44.3 million, a 38% increase over the second quarter of 2018 and a 6% increase over the first quarter of 2019.

Operating income in the second quarter of 2019 was €29.6 million, an increase of 12% over the second quarter of 2018 and a 1% decrease from the first quarter of 2019.

Net finance expense for the second quarter of 2019 was €17.1 million, a 25% decrease from the second quarter of 2018 and a 3% increase over the first quarter of 2019.

Income tax expense for the second quarter of 2019 was €3.6 million, a 30% increase over the second quarter of 2018 and a 24% decrease from the first quarter of 2019.

Net income was €8.6 million in the second quarter of 2019, an €8.0 million increase over the second quarter of 2018 and a 3% increase from the first quarter of 2019.

Adjusted net income was €7.5 million in the second quarter of 2019, a 16% decrease from the second quarter of 2018 and a 6% increase from the first quarter of 2019.

Adjusted EBITDA for the second quarter of 2019 was €80.2 million, a 26% increase over the second quarter of 2018 and a 4% increase over the first quarter of 2019. Adjusted EBITDA margin was 50.6% in the second quarter of 2019 compared to 45.7% in the second quarter of 2018 and 51.0% in the first quarter of 2019.

Adjusted EBITDA excluding the effects of IFRS 16 for the second quarter was €71.5 million, a 13% increase over the second quarter of 2018 and a 3% increase over the first quarter of 2019. Adjusted EBITDA margin excluding the effects of IFRS 16 in the second quarter of 2019, was 45.1%, compared to 45.7% in the second quarter of 2018 and 45.7% in the first quarter of 2019.

 

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Net cash flows from operating activities in the second quarter of 2019 were €35.8 million compared to €31.6 million in the second quarter of 2018 and €71.3 million in the first quarter of 2019.

Cash generated from operations(1) in the second quarter of 2019 was €71.8 million compared to €55.1 million in the second quarter of 2018 and €79.9 million in the first quarter of 2019.

Capital expenditure, including intangible assets, in the second quarter of 2019 were €123.5 million compared with €120.5 million in the second quarter of 2018 and €144.1 million in the first quarter of 2019.

Cash and cash equivalents were €55.6 million at 30 June 2019, compared with €186.1 million at year end 2018.

Total borrowings and lease liabilities net of cash and cash equivalents were €1,672.2 million in aggregate at 30 June 2019, compared with €1,104.1 million at 31 December 2018. Excluding lease liabilities, total borrowings were €1,276.7 million at 30 June 2019, compared with €1,239.8 million at 31 December 2018.

As at 30 June 2019, €40 million was drawn under Interxion’s €300 million unsecured revolving credit facility. The full amount was repaid after the end of the quarter.

On 1 July 2019, Interxion issued 4.6 million ordinary shares in a public offering generating net proceeds of €283.2 million.

Equipped space at the end of the second quarter of 2019 was 154,800 square metres, compared to 132,600 square metres at the end of the second quarter of 2018 and 148,300 square metres at the end of the first quarter of 2019. Revenue generating space at the end of the second quarter of 2019 was 121,600 square metres, compared to 106,200 square metres at the end of the second quarter of 2018 and 119,000 square metres at the end of the first quarter of 2019. Utilisation rate, the ratio of revenue

 

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generating space to equipped space, was 79% at the end of the second quarter of 2019, compared to 80% at the end of the second quarter of 2018 and 80% at the end of the first quarter of 2019.

Investment Initiatives in Frankfurt, Marseille, Stockholm and Paris

In response to continued customer demand and orders, Interxion will expand existing data centres in Frankfurt and Marseille and construct a new data centre in Stockholm (“STO6”). Additionally, Interxion has added to its land ownership in Paris.

In Frankfurt, Interxion will add capacity in its FRA15 data centre by constructing Phases 3 and 4. These phases will add an additional 4,700 square metres of equipped space and are scheduled to open in 3Q 2021. The capital expenditure associated with the final two phases of FRA15 is expected to be approximately €40 million.

In Marseille, Interxion will construct the second phase of its MRS3 data centre. This phase will provide approximately 2,400 sqm of equipped space and is scheduled to open in 3Q 2020. The capital expenditure associated with this phase of MRS3 is expected to be approximately €31 million.

In Stockholm, STO6 will be constructed in four phases, delivering a total of 3,300 sqm of equipped space and 5 megawatts (“MW”) of customer available power when fully built out. The first phase of STO6, which is expected to provide approximately 500 sqm, is scheduled to open in 2Q 2020. The second phase is expected to provide approximately 600 sqm and is scheduled to open in 4Q 2020. The capital expenditure associated with the first two phases of STO6 is expected to be approximately €21 million.

In Paris, Interxion completed the acquisition of the land on which its PAR7 data centre is located, for €19 million. The PAR7 site is adjacent to additional land of 68,000 sqm, over which we have a purchase option. This site has an industrial zoning rating and access to 50 MW of available power.

 

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Business Outlook

Interxion today is reaffirming guidance for Revenue, Adjusted EBITDA and Capital expenditure (including intangibles) for full year 2019:

 

Revenue

   €632 million – €647 million   

Adjusted EBITDA

   €324 million – €334 million   

Capital expenditure (including intangibles)

   €570 million – €600 million   

Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (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 1-866-966-1396; callers outside the U.S. may dial direct +44 (0) 2071 928 000. The conference ID for this call is INXN. This event also will be webcast live over the Internet in listen-only mode at investors.interxion.com.

A replay of this call will be available shortly after the call concludes and will be available until 21 August 2019. To access the replay, U.S. callers may dial toll free 1-866-331-1332; callers outside the U.S. may dial direct +44 (0) 3333 009 785. The replay access number is 3364477.

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

 

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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, delays in remediating the material weakness in internal control over financial reporting and/or making disclosure controls and procedures effective, 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 press release.

Non-IFRS Financial Measures

These materials include non-IFRS financial measures and ratios, including (i) Adjusted EBITDA; (ii) Adjusted EBITDA margin, (iii) Adjusted EBITDA excluding the impact of IFRS 16; (iv) Adjusted EBITDA margin excluding the impact of IFRS 16; (v) Recurring revenue; (vi) Revenue on a constant currency basis; (vii) Adjusted net income; (viii) Adjusted basic earnings per share; (ix) Adjusted diluted earnings per share and (x) Cash generated from operations, that are not required by, or presented in accordance with, IFRS.

Other companies may present Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16, Recurring revenue, Revenue on a 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. None of these measures are measures of financial performance under IFRS and should not be considered as a measure of liquidity or as an alternative to Profit for the period attributable to shareholders (“Net income”) or as indicators of our operating performance or any other measure of performance implemented in accordance with IFRS.

 

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Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16, Recurring revenue and Revenue on a constant currency basis

We define Adjusted EBITDA as Net income adjusted for income tax expense, net finance expense and the following items, which may occur in any period, and which management believes are not representative of our operating performance:

 

   

Depreciation and amortisation – property, plant and equipment and intangible assets (except goodwill) are depreciated and amortised on a straight-line basis over the estimated useful life. We believe that these costs do not represent our operating performance.

 

   

Share-based payments – represents primarily the fair value at the date of grant of employee equity awards, which is recognized as an expense over the vesting period. In certain cases, the fair value is redetermined for market conditions at each reporting date, until the final date of grant is achieved. 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 recognized 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 is not reflective of our business activities and our ongoing operating performance.

In certain circumstances, we may also adjust for other items 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. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue.

 

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In addition, we present Adjusted EBITDA excluding the impact of IFRS 16 for comparative purposes with regard to Adjusted EBITDA presented in periods prior to 1 January 2019, the effective date of IFRS 16. Adjusted EBITDA margin excluding the impact of IFRS 16 is defined as Adjusted EBITDA excluding the impact of IFRS 16 as a percentage of revenue.

For a reconciliation of Net income to Adjusted EBITDA and from Adjusted EBITDA to Adjusted EBITDA excluding the impact of IFRS 16, see the notes to the Condensed Consolidated Interim Financial Statements. Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16 and other key performance indicators may not be indicative of our historical results of operations based on IFRS, nor are they meant to be predictive of future results under IFRS.

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. Management believes that the exclusion of these items provides useful supplemental information to revenue from colocation and associated power charges to aid investors in evaluating the recurring revenue performance of our business. For a reconciliation of Revenue to Recurring revenue, see the notes to the Condensed Consolidated Interim Financial Statements.

We present constant currency information for revenue to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. To present 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 prior period rather than the actual exchange rates in effect during the current period. We believe that revenue growth is a key indicator of how a company is progressing from period to period and presenting constant currency information for revenue provides useful supplemental information to investors regarding our on-going operational performance because it helps us and our investors evaluate the on-going operating performance of the business after removing the impact of currency exchange rates.

 

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We believe Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16, Recurring revenue and Revenue on a constant currency basis provide useful supplemental information to investors regarding our ongoing operational performance. These measures help us and our investors evaluate the ongoing operating performance of the business after removing the impact of our capital structure (primarily interest expense), our asset base (primarily depreciation and amortisation) and the implementation of new accounting standards. Management believes that the presentation of Adjusted EBITDA and Adjusted EBITDA excluding the impact of IFRS 16, 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 Adjusted EBITDA and Adjusted EBITDA excluding the impact of IFRS 16 facilitates comparisons between us and other data centre operators (including other data centre operators that are REITs) and other infrastructure-based businesses. Adjusted EBITDA excluding the impact of IFRS 16 is also a relevant measure used in the financial covenants of our revolving credit facility and our 4.75% Senior Notes due 2025. Pursuant to the terms of our revolving credit facility and our 4.75% Senior Notes due 2025, the calculation of Adjusted EBITDA for the purposes of the financial covenants is determined in accordance with IFRS as of the date of the financing agreements and therefore does not include the impact of IFRS 16.

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 recognized 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.

 

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Adjustments related to provisions – these adjustments are made for adjustments in provisions that are not reflective of the ongoing operating performance of Interxion. These adjustments may include changes in provisions for onerous lease contracts.

 

   

Adjustments related to capitalized interest – under IFRS, we are required to calculate and capitalize interest allocated to the investment in data centres and exclude it from Net income. We believe that reversing the impact of capitalized 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 other items 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.

Management believes 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 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 notes to the Condensed Consolidated Interim Financial Statements.

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 believes 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.

 

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Additional Key Performance Indicators

In addition to Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16, Recurring revenue, Revenue on a constant currency basis, Adjusted net income, Adjusted basic earnings per share, Adjusted diluted earnings per share and Cash generated from operations, our management also uses the following key performance indicators as measures to evaluate our performance:

 

   

Equipped space: the amount of data centre space that, on the date indicated, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure. Equipped space at a particular data centre may decrease if either (a) the power requirements of customers at a data centre change so that all or a portion of the remaining space can no longer be sold because the space does not have enough power capacity and/or common infrastructure to support it without further investment or (b) if the design and layout of a data centre changes to meet among others, fire regulations or customer requirements, and necessitates the introduction of common space (such as corridors) which cannot be sold to individual customers;

 

   

Revenue generating space: the amount of Equipped space that is under contract and billed on the date indicated;

 

   

Utilisation rate: on the date indicated, Revenue generating space as a percentage of Equipped space. Some Equipped space is not fully utilised because of customers’ specific requirements regarding the layout of their equipment. In practice, therefore, Utilisation rate does not reach 100%.

 

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IFRS 16 – Leases

We adopted International Financial Reporting Standard 16 – Leases, from 1 January 2019. Under IFRS 16, operating leases are recognized as right of use assets and lease liabilities, and certain components of revenue are recognized as lease revenue.

The impact of IFRS 16 on revenue, gross profit, operating income, Adjusted EBITDA, depreciation and amortisation and net finance expense for the three-month and six-month periods ended 30 June 2019 and total assets and total liabilities as at 30 June 2019 is provided in the tables attached to this press release.

-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 53 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 700 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

 

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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  
     2019     2018     2019     2018  

Revenue

     158,476       138,824       310,007       272,660  

Cost of sales

     (54,729     (53,701     (105,123     (106,398
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross Profit

     103,747       85,123       204,884       166,262  

Other income

     —         —         —         86  

Sales and marketing costs

     (9,397     (9,601     (18,551     (18,309

General and administrative costs

     (64,798     (49,250     (126,942     (94,894
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     29,552       26,272       59,391       53,145  

Net finance expense

     (17,148     (22,895     (33,810     (34,299

Share of result of equity-accounted investees, net of tax

     (163     —         (163     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before income taxes

     12,241       3,377       25,418       18,846  

Income tax expense

     (3,627     (2,795     (8,405     (6,608
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     8,614       582       17,013       12,238  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share(a): (€)

     0.12       0.01       0.24       0.17  

Diluted earnings per share(b): (€)

     0.12       0.01       0.23       0.17  

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

     71,888       71,609       71,888       71,609  

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

     71,876       71,481       71,843       71,455  

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

     72,457       71,946       72,398       71,902  
                 As at  
                 Jun-30     Jun-30  
Capacity metrics                2019     2018  

Equipped space (in square meters)

         154,800       132,600  

Revenue generating space (in square meters)

         121,600       106,200  

Utilisation rate

         79     80

 

(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.

 

15


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: REPORTING SEGMENT INFORMATION

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     Jun-30     Jun-30     Jun-30     Jun-30  
     2019     2018     2019     2018  

Consolidated

        

Recurring revenue

     149,975       131,709       295,253       258,671  

Non-recurring revenue

     8,501       7,115       14,754       13,989  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     158,476       138,824       310,007       272,660  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     8,614       582       17,013       12,238  

Net income margin

     5.4     0.4     5.5     4.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     29,552       26,272       59,391       53,145  

Operating income margin

     18.6     18.9     19.2     19.5
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     80,158       63,431       157,435       124,306  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     65.5     61.3     66.1     61.0

Adjusted EBITDA margin

     50.6     45.7     50.8     45.6

Total assets

     2,743,383       1,975,113       2,743,383       1,975,113  

Total liabilities(a)

     2,082,604       1,368,236       2,082,604       1,368,236  

Capital expenditure, including intangible assets(b)

     (123,477     (120,515     (267,558     (216,709

France, Germany, the Netherlands, and the UK

        

Recurring revenue

     100,673       87,317       197,536       170,771  

Non-recurring revenue

     4,962       4,196       9,399       8,653  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     105,635       91,513       206,935       179,424  

Operating income

     33,584       30,311       66,896       57,946  

Operating income margin

     31.8     33.1     32.3     32.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     62,935       51,388       124,056       99,366  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     66.3     63.2     66.9     62.2

Adjusted EBITDA margin

     59.6     56.2     59.9     55.4

Total assets

     1,968,376       1,360,299       1,968,376       1,360,299  

Total liabilities(a)

     623,050       275,898       623,050       275,898  

Capital expenditure, including intangible assets(b)

     (77,780     (82,556     (177,405     (153,130

Rest of Europe

        

Recurring revenue

     49,302       44,392       97,717       87,900  

Non-recurring revenue

     3,539       2,919       5,355       5,336  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     52,841       47,311       103,072       93,236  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     20,628       18,643       41,637       38,242  

Operating income margin

     39.0     39.4     40.4     41.0
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     32,593       27,171       64,835       54,742  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     69.8     65.0     70.8     66.3

Adjusted EBITDA margin

     61.7     57.4     62.9     58.7

Total assets

     685,304       443,999       685,304       443,999  

Total liabilities(a)

     210,740       84,045       210,740       84,045  

Capital expenditure, including intangible assets(b)

     (37,891     (29,805     (79,476     (52,472

Corporate and other

        

Operating income

     (24,660     (22,682     (49,142     (43,043
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (15,370     (15,128     (31,456     (29,802
  

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

     89,703       170,815       89,703       170,815  

Total liabilities(a)

     1,248,814       1,008,293       1,248,814       1,008,293  

Capital expenditure, including intangible assets(b)

     (7,806     (8,154     (10,677     (11,107

 

(a)

Certain comparative figures as at 30 June 2018 have been restated compared to the amounts disclosed on Form 6-K furnished on 2 August 2018. For further details see Note 2 and Note 28 of our 2018 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2019.

(b)

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.

 

16


LOGO

Press Release, 7 August 2019

 

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  
     2019     2018     2019     2018  

Reconciliation to Adjusted EBITDA

        

Consolidated

        

Net income

     8,614       582       17,013       12,238  

Income tax expense

     3,627       2,795       8,405       6,608  
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before taxation

     12,241       3,377       25,418       18,846  

Share of result of equity-accounted investees, net of tax

     163       —         163       —    

Net finance expense

     17,148       22,895       33,810       34,299  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     29,552       26,272       59,391       53,145  

Depreciation and amortisation

     44,320       32,191       85,998       61,750  

Share-based payments

     5,725       3,927       11,405       7,249  

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

        

M&A transaction costs(a)

     561       1,041       641       2,248  

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

     —         —         —         (86
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(c)

     80,158       63,431       157,435       124,306  
  

 

 

   

 

 

   

 

 

   

 

 

 

France, Germany, the Netherlands, and the UK

        

Operating income

     33,584       30,311       66,896       57,946  

Depreciation and amortisation

     29,010       20,818       56,417       40,903  

Share-based payments

     341       259       743       603  

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

     —         —         —         (86
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(c)

     62,935       51,388       124,056       99,366  
  

 

 

   

 

 

   

 

 

   

 

 

 

Rest of Europe

        

Operating income

     20,628       18,643       41,637       38,242  

Depreciation and amortisation

     11,728       8,223       22,608       15,971  

Share-based payments

     237       305       590       529  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(c)

     32,593       27,171       64,835       54,742  
  

 

 

   

 

 

   

 

 

   

 

 

 

Corporate and Other

        

Operating loss

     (24,660     (22,682     (49,142     (43,043

Depreciation and amortisation

     3,582       3,150       6,973       4,876  

Share-based payments

     5,147       3,363       10,072       6,117  

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

        

M&A transaction costs(a)

     561       1,041       641       2,248  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(c)

     (15,370     (15,128     (31,456     (29,802
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

“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”.

(b)

“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”.

(c)

“Adjusted EBITDA” is a non-IFRS financial measure. See “Non-IFRS Financial Measures” for more information, including why we believe Adjusted EBITDA is useful, and the limitations on the use of Adjusted EBITDA.

 

17


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED BALANCE SHEET

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Jun-30     Dec-31  
     2019     2018  

Non-current assets

    

Property, plant and equipment

     1,878,533       1,721,064  

Right-of-use assets

     438,556       —    

Intangible assets

     66,492       64,331  

Goodwill

     38,900       38,900  

Deferred tax assets

     24,607       21,807  

Investment in associate

     3,583       —    

Other investments

     12,606       7,906  

Other non-current assets

     15,934       16,843  
  

 

 

   

 

 

 
     2,479,211       1,870,851  

Current assets

    

Trade receivables and other current assets

     208,611       205,613  

Cash and cash equivalents

     55,561       186,090  
  

 

 

   

 

 

 
     264,172       391,703  
  

 

 

   

 

 

 

Total assets

     2,743,383       2,262,554  
  

 

 

   

 

 

 

Shareholders’ equity

    

Share capital

     7,188       7,170  

Share premium

     564,592       553,425  

Foreign currency translation reserve

     2,965       3,541  

Hedging reserve, net of tax

     (179     (165

Accumulated profit

     86,213       69,449  
  

 

 

   

 

 

 
     660,779       633,420  

Non-current liabilities

    

Borrowings

     1,235,214       1,266,813  

Lease liabilities

     423,508       —    

Deferred tax liabilities

     16,912       16,875  

Other non-current liabilities

     17,974       34,054  
  

 

 

   

 

 

 
     1,693,608       1,317,742  

Current liabilities

    

Trade payables and other current liabilities

     311,880       280,877  

Lease liabilities

     27,563       —    

Income tax liabilities

     8,048       7,185  

Borrowings

     41,505       23,330  
  

 

 

   

 

 

 
     388,996       311,392  
  

 

 

   

 

 

 

Total liabilities

     2,082,604       1,629,134  
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     2,743,383       2,262,554  
  

 

 

   

 

 

 

 

18


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS AND LEASE LIABILITIES NET OF CASH AND CASH EQUIVALENTS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Jun-30      Dec-31  
     2019      2018  

Borrowings and lease liabilities net of cash and cash equivalents

     

Cash and cash equivalents

     55,561        186,090  

4.75% Senior Notes due 2025(a)

     1,189,060        1,188,387  

Finance lease liabilities (IAS 17)(b)

     —          50,374  

Mortgages

     50,411        51,382  

Borrowings under our Revolving Facilities

     37,248        —    
  

 

 

    

 

 

 

Borrowings

     1,276,719        1,290,143  

Lease liabilities (IFRS 16)(b)

     451,071        —    
  

 

 

    

 

 

 

Total borrowings and lease liabilities

     1,727,790        1,290,143  
  

 

 

    

 

 

 

Borrowings and lease liabilities net of cash and cash equivalents(c)

     1,672,229        1,104,053  
  

 

 

    

 

 

 

 

(a)

The €1,200 million 4.75% Senior Notes due 2025 include a premium on additional issuances and are shown after deducting commissions, offering fees and expenses.     

(b)

Under IFRS 16, finance lease liabilities are included in the aggregated amount of lease liabilities rather than presented separately.     

(c)

Total borrowings and lease liabilities exclude deferred financing costs of €2.3 million as of 31 December 2018 which were incurred in connection with the €300 million Revolving Credit Facility, entered into on 18 June 2018. Total borrowings and lease liabilities include deferred financing costs of €2.7 million as of 30 June 2019. The deferred financing costs have been included as during the second quarter the Group has drawn €40.0 million under the Revolving Credit Facility.    

 

19


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     Jun-30
2019
    Jun-30
2018
    Jun-30
2019
    Jun-30
2018(a)
 

Net income

     8,614       582       17,013       12,238  

Depreciation and amortisation

     44,320       32,191       85,998       61,750  

Share-based payments

     5,395       3,646       10,501       6,863  

Net finance expense

     17,148       22,895       33,810       34,299  

Share of result of equity-accounted investees, net of tax

     163       —         163       —    

Income tax expense

     3,627       2,795       8,405       6,608  
  

 

 

   

 

 

   

 

 

   

 

 

 
     79,267     62,109     155,890     121,758  

Movements in trade receivables and other assets

     (17,549     (13,858     (36,753     (20,055

Movements in trade payables and other liabilities

     10,035       6,858       32,481       11,486  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated from operations

     71,753       55,109       151,618       113,189  

Interest and fees paid(a)

     (29,435     (18,600     (34,300     (38,831

Income tax paid

     (6,529     (4,893     (10,188     (8,166
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from operating activities

     35,789       31,616       107,130       66,192  

Cash flows used in investing activities

        

Purchase of property, plant and equipment

     (119,972     (117,534     (260,667     (211,751

Financial investments - deposits

     (4     114       12,591       280  

Acquisition of associate

     (3,745     —         (3,745     —    

Purchase of intangible assets

     (3,505     (2,981     (6,891     (4,958

Loans provided

     (2,375     (834     (2,814     (1,251
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows used in investing activities

     (129,601     (121,235     (261,526     (217,680

Cash flows from financing activities

        

Proceeds from exercised options

     432       1,186       684       1,257  

Repayment of mortgages

     (548     (4,948     (1,020     (5,496

Proceeds from revolving credit facilities

     40,000       69,376       40,000       148,814  

Repayment of revolving facilities

     —         (250,724     —         (250,724

Proceeds 4.75% Senior Notes

     —         990,000       —         990,000  

Principal elements of lease payments (2018: Financial lease obligation)

     (8,356     —         (14,885     —    

Repayment 6.00% Senior Secured Notes

     —         (634,375     —         (634,375

Transaction costs 4.75% Senior Notes

     —         (1,192     (200     (1,192

Transaction costs revolving credit facility

     (142     (1,636     (745     (1,636
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from financing activities

     31,386       167,687       23,834       246,648  

Effect of exchange rate changes on cash

     (189     159       33       (81
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase / (decrease) in cash and cash equivalents

     (62,615     78,227       (130,529     95,079  

Cash and cash equivalents, beginning of period

     118,176       55,336       186,090       38,484  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

     55,561       133,563       55,561       133,563  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

Interest and fees paid is reported net of cash interest capitalized, which is reported as part of “Purchase of property, plant and equipment”.

 

20


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS AND BALANCE SHEET: IFRS 16 IMPACT RECONCILIATION

(in €’000)

(unaudited)

 

    Three Months Ended     Six Months Ended  
    Jun-30
2019
As Reported
    Effect of
change
due to IFRS 16
    Jun-30
2019
Excl. IFRS 16
    Jun-30
2019
As Reported
    Effect of
change
due to IFRS 16
    Jun-30
2019
Excl. IFRS 16
 

Consolidated

           

Recurring revenue

    149,975       —         149,975       295,253       —         295,253  

Non-recurring revenue

    8,501       —         8,501       14,754       —         14,754  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

    158,476       —         158,476       310,007       —         310,007  

Gross profit

    103,747       7,014       96,733       204,884       13,637       191,247  

Gross profit margin

    65.5     4.5     61.0     66.1     4.4     61.7

Operating income

    29,552       1,265       28,287       59,391       2,799       56,593  

Adjusted EBITDA

    80,158       8,610       71,548       157,435       16,605       140,830  

Adjusted EBITDA margin

    50.6     5.4     45.1     50.8     5.4     45.4

Depreciation and amortisation

    44,320       7,345       36,975       85,998       13,806       72,193  

Net finance expense

    17,148       3,072       14,076       33,810       6,151       27,659  

France, Germany, the Netherlands, and the UK

           

Recurring revenue

    100,673       —         100,673       197,536       —         197,536  

Non-recurring revenue

    4,962       —         4,962       9,399       —         9,399  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

    105,635       —         105,635       206,935       —         206,935  

Operating income

    33,584       1,130       32,454       66,896       2,271       64,625  

Adjusted EBITDA

    62,935       5,536       57,399       124,056       10,663       113,392  

Adjusted EBITDA margin

    59.6     5.3     54.3     59.9     5.1     54.8

Rest of Europe

           

Recurring revenue

    49,302       —         49,302       97,717       —         97,717  

Non-recurring revenue

    3,539       —         3,539       5,355       —         5,355  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

    52,841       —         52,841       103,072       —         103,072  

Operating income

    20,628       132       20,496       41,637       508       41,128  

Adjusted EBITDA

    32,593       2,583       30,009       64,835       4,981       59,854  

Adjusted EBITDA margin

    61.7     4.9     56.8     62.9     4.8     58.1

Corporate and Other

           

Operating income

    (24,660     3       (24,663     (49,142     20       (49,162

Adjusted EBITDA

    (15,370     491       (15,861     (31,456     961       (32,417
    As at                    
    Jun-30
2019
As Reported
    Effect of
change
due to IFRS 16
    Jun-30
2019
Excl. IFRS 16
                   

Consolidated

           

Non-current assets

    2,479,211       408,447       2,070,763        

Current assets

    264,172       (18,551     282,723        

Non-current liabilities

    1,693,608       368,478       1,325,130        

Current liabilities

    388,996       23,995       365,001        

France, Germany, the Netherlands, and the UK

           

Total assets

    1,968,376       280,707       1,687,669        

Total liabilities

    623,050       282,618       340,433        

Rest of Europe

           

Total assets

    685,304       105,928       579,376        

Total liabilities

    210,740       106,586       104,154        

Corporate and Other

           

Total assets

    89,703       3,261       86,443        

Total liabilities

    1,248,814       3,268       1,245,546        

 

21


LOGO

Press Release, 7 August 2019

 

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
2019
    Jun-30
2018
    Jun-30
2019
    Jun-30
2018
 

Net income - as reported

     8,614       582       17,013       12,238  

Add back

        

+ Charges related to termination of financing arrangements(a)

     —         11,171       —         11,171  

+ M&A transaction costs

     561       1,041       641       2,248  
  

 

 

   

 

 

   

 

 

   

 

 

 
     561       12,212       641       13,419  

Reverse

        

- Interest capitalized

     (2,102     (1,181     (3,982     (2,065
  

 

 

   

 

 

   

 

 

   

 

 

 
     (2,102)     (1,181)     (3,982)     (2,065)  

Tax effect of above add backs & reversals

     385       (2,758     835       (2,839
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net income

     7,458       8,855       14,507       20,753  
  

 

 

   

 

 

   

 

 

   

 

 

 

Reported basic EPS: (€)

     0.12       0.01       0.24       0.17  

Reported diluted EPS: (€)

     0.12       0.01       0.23       0.17  

Adjusted basic EPS: (€)

     0.10       0.12       0.20       0.29  

Adjusted diluted EPS: (€)

     0.10       0.12       0.20       0.29  

 

(a)

These charges relate to the repayment of the 6.00% Senior Secured Notes due 2020 and the termination of our revolving credit facility agreements in 2Q18.

 

22


LOGO

Press Release, 7 August 2019

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 7 August 2019

with Target Open Dates after 31 March 2019

 

Market

  

Project

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

Schedule

Amsterdam

   AMS10: Phases 1 - 3 New Build      195        9,500      4Q 2019 - 3Q 2020(c)

Copenhagen

   CPH2: Phases 3 - 5      18        1,500      2Q 2018 - 4Q 2019(d)

Dusseldorf

   DUS2: Phase 3      5        500      1Q 2019 - 2Q 2019(e)

Frankfurt

   FRA14: Phases 1 - 2 New Build      76        4,600      3Q 2019 - 4Q 2019(f)

Frankfurt

   FRA15: Phases 1 - 4 New Build      177        9,600      2Q 2020 - 3Q 2021(g)

London

   LON3: New Build      35        1,800      1Q 2019 - 3Q 2019(h)

Madrid

   MAD3: New Build      44        2,700      2Q 2019 - 4Q 2019(i)

Marseille

   MRS2: Phase 2 - 4      72        4,200      2Q 2018 - 4Q 2019(j)

Marseille

   MRS3: Phases 1 - 2 New Build      111        4,700      1Q 2020 - 3Q 2020(k)

Paris

   PAR7.2: Phase B (cont.) - C      47        2,500      2Q 2018 - 2Q 2019(l)

Stockholm

   STO5: Phases 2 - 3      19        1,200      1Q 2018 - 2Q 2019(m)

Stockholm

   STO6: Phase 1 - 2 New Build      21        1,100      2Q 2020 - 4Q 2020(n)

Vienna

   VIE2: Phase 7 - 9      96        4,500      4Q 2017 - 4Q 2019(o)

Zurich

   ZUR1: Phase 6      10        100      4Q 2019(p)

Zurich

   ZUR2: Phases 1 - 2 New Build      93        3,600      3Q 2020(q)
     

 

 

    

 

 

    

Total

        1,019        52,100     

 

(a)

CAPEX and Equipped space are approximate and may change. SQM figures are rounded to nearest 100 sqm unless otherwise noted, and 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 time.

(c)

AMS10: Phase 1 (2,700 sqm) is scheduled to open in 4Q 2019; phase 2 (4,100 sqm) is scheduled to open in 1Q 2020, phase 3 (2,700 sqm) is scheduled to open in 3Q 2020.

(d)

CPH2: Phases 3 and 4 (900 sqm total) opened in 2Q 2018; phase 5 (600 sqm) is scheduled to open in 4Q 2019.

(e)

DUS2: Phase 3 partially opened (300 sqm) in 1Q 2019 and the remaining 200 sqm opened in 2Q 2019.

(f)

FRA14: Phase 1 (2,400 sqm) is scheduled to open in 3Q 2019; phase 2 (2,200 sqm) is scheduled to open in 4Q 2019.

(g)

FRA15: Phase 1 (2,300 sqm) is scheduled to open in 2Q 2020, Phase 2 (2,600 sqm) is scheduled to open in 4Q 2020, Phase 3 (2,400 sqm) is scheduled to open in 1Q 2021 and Phase 4 (2,400 sqm) scheduled to open in 3Q 2021.

(h)

LON3: Phase 1 (300 sqm) opened in 1Q 2019 and Phase 2 (600 sqm) opened in 2Q 2019. Phase 3 (900 sqm) is scheduled to open in 3Q 2019.

(i)

MAD3: 1,300 sqm opened in 2Q 2019, 700 sqm is scheduled to open in 3Q 2019 and 700 sqm is scheduled to open in 4Q 2019.

(j)

MRS2: Phase 2 (700 sqm) opened in 2018; Phase 3 (1,100 sqm) opened in 2Q 2019 and Phase 4 (2,500 sqm) is scheduled to open in 3Q - 4Q 2019.

(k)

MRS3: Phase 1 (2,300 sqm) is scheduled to open in 1Q 2020 and Phase 2 (2,400 sqm) is scheduled to open in 3Q 2020.

(l)

PAR7.2: Phase B (cont.) (500 sqm) opened in 2Q 2018; Phase C part (1,500 sqm) opened in 4Q 2018 and the remaining part (500 sqm) opened in 2Q 2019.

(m)

STO5: Phases 2-3 - 100 sqm opened in 1Q 2018; 300 sqm became operational in 2Q 2018; 800 sqm opened in 2Q 2019.

(n)

STO6: Phase 1 (500 sqm) is scheduled to open in 2Q 2020 and Phase 2 (600 sqm) is scheduled to open in 4Q 2020.

(o)

VIE2: Phases 7-9; 2,300 sqm opened in 4Q 2017 through 3Q 2018; 2,000 sqm opened in 2Q 2019. The remaining 200 sqm is scheduled to open in 4Q 2019.

(p)

ZUR1: Phase 6 (100 sqm) is scheduled to open in 4Q 2019.

(q)

ZUR2: Phase 1 and Phase 2 are scheduled to open in 3Q 2020 (together 3,600 sqm).

 

23

EX-99.2

Slide 1

2Q 2019 Earnings Conference Call NYSE: INXN 7 August 2019 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; performance under service level agreements; and delays in remediating the material weakness in internal control over financial reporting and/or making disclosure controls and procedure effective. 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 Adjusted EBITDA, Adjusted EBTIDA margin, Adjusted EBITDA excluding the impact of IFRS 16, Adjusted EBITDA margin excluding the impact of IFRS 16, Recurring revenue, Revenue on a constant currency basis, Adjusted net income, Adjusted diluted earnings per share and Cash generated from operations. For definitions of these measures and a reconciliation of these measures to the nearest IFRS measure, please refer to the appendix and the tables attached to our 2Q19 press release. 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 up 14% Y/Y Recurring revenue up 14% Y/Y Adjusted EBITDA up 26% Y/Y, 13% excluding IFRS 16 Adjusted EBITDA margin increased 490 bps Y/Y to 50.6% Decreased 60 bps Y/Y to 45.1% excluding IFRS 16 Capital expenditure of €123 million including intangibles €283 million in net proceeds raised from equity offering Transaction closed in July Operational Execution Added 6,500 sqm of new equipped space Opened a new data centre in Madrid Opened expansions in Dusseldorf, London, Marseille, Paris, Stockholm and Vienna Installed 2,600 sqm of revenue generating space Utilisation rate of 79% Announced new data centre in Stockholm (STO6) and expansions in Frankfurt (FRA15) and Marseille (MRS3) Acquired PAR7 data centre land Option to purchase adjacent property of 68,000 sqm with access to 50 MW of available power 2Q 2019 Performance Healthy Demand Across European Footprint


Slide 5

2Q Revenue €158.5 million Up 14% Y/Y and 5% Q/Q 2Q Recurring revenue €150.0 million Up 14% Y/Y and 3% Q/Q 95% of total revenue 2Q Adjusted EBITDA €80.2 million Up 26% Y/Y and 4% Q/Q Up 13% Y/Y and 3% Q/Q excluding IFRS 16 2Q Adjusted EBITDA margin 50.6% 490 bps increase Y/Y 60 bps decrease Y/Y excluding IFRS 16 2Q 2019 Financial Highlights Adjusted EBITDA & Margin (€ millions) 46.3% 50.6% Margin 45.7% Attractive Recurring Revenue Growth 46.1% 51.0% Revenue (€ millions) Non- recurring revenue Recurring revenue 138.8 142.2 146.9 151.5 158.5 Note: As from 1Q19 the amounts and margins include the impact of IFRS 16.


Slide 6

Equipped space of 154,800 sqm 6,500 sqm added in the quarter Revenue generating space of 121,600 sqm 2,600 sqm installed in the quarter Utilisation rate of 79% 2Q 2019 Operational Highlights Equipped & Revenue Generating Space (000’s sqm) Available Equipped space Revenue generating space 79% 80% Utilisation rate 79% 132.6 15% Growth Y/Y in Revenue Generating Space With 79% Utilisation Rate 140.3 80% . 144.8 148.3 154.8 79%


Slide 7

Capacity Expansion Across Footprint Note: Totals may not sum due to rounding. As of 7 August 2019, 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 Capacity Additions with Opening Dates after 31 March 2019(1) Market Data centre Project Project CapEx (€ millions) Equipped Space (sqm) Schedule Project Opened(1) Amsterdam AMS10 Phases 1-3 New Build 195 9,500 0 4Q19 – 3Q20 Copenhagen CPH2 Phases 3-5 18 1,500 900 2Q18 – 4Q19 Dusseldorf DUS2 Phase 3 5 500 500 1Q19 – 2Q19 Frankfurt FRA14 Phases 1-2 New Build 76 4,600 0 3Q19 – 4Q19 Frankfurt FRA15 Phases 1-4 New Build 177 9,600 0 2Q20 – 3Q21 London LON3 New Build 35 1,800 900 1Q19 – 3Q19 Madrid MAD3 New Build 44 2,700 1,300 2Q19 – 4Q19 Marseille MRS2 Phases 2-4 72 4,200 1,800 2Q18 – 4Q19 Marseille MRS3 Phases 1-2 New Build 111 4,700 0 1Q20 – 3Q20 Paris PAR7.2 Phase B (cont.) & C 47 2,500 2,500 2Q18 – 2Q19 Stockholm STO5 Phases 2-3 19 1,200 1,200 1Q18 – 2Q19 Stockholm STO6 Phases 1-2 New Build 21 1,100 0 2Q20 – 4Q20 Vienna VIE2 Phases 7-9 96 4,500 4,300 4Q17 – 4Q19 Zurich ZUR1 Phase 6 10 100 0 4Q19 Zurich ZUR2 Phase 1-2 New Build 93 3,600 0 3Q20 Capacity additions completed in 2Q19 include: VIE2: ~2,000 sqm MAD3: ~1,300 sqm new build MRS2: ~1,100 sqm STO5: ~800 sqm LON3: ~600 sqm PAR7: ~400 sqm DUS2: ~300 sqm Newly announced capacity expansions: FRA15: 4,700 sqm MRS3: 2,400 sqm STO6: 1,100 sqm new build Expansions totaling 34,100 sqm scheduled to open by year end 2020 Aggregate capacity expansion of 22%


Slide 8

40% 30% 30% Communities of Interest Deliver Significant Customer Value Connectivity Platforms Enterprises


Slide 9

Financial Highlights John Doherty – Chief Financial Officer


Slide 10

Recurring revenue, Non-recurring revenue, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted diluted EPS are non-IFRS figures intended to adjust for certain items. Full definitions can be found in the “Definitions” section of this presentation. Reconciliations of Net income to Adjusted EBITDA can be found in the financial tables later in the appendix of this presentation. Adjusted to exclude impact of IFRS 16 € millions (except per share amounts) 2Q 2018 1Q 2019 2Q 2019 2Q 2019 (excl. IFRS 16) 2Q 2019 (excl. IFRS 16) vs. 2Q 2018 2Q 2019 (incl. IFRS 16) vs. 1Q 2019 Recurring revenue(1) 131.7 145.3 150.0 150.0 14% 3% Non-recurring revenue(1) 7.1 6.3 8.5 8.5 19% 36% Revenue 138.8 151.5 158.5 158.5 14% 5% Gross profit 85.1 101.1 103.7 96.7 14% 3% Gross profit margin 61.3% 66.7% 65.5% 61.0% (30 bps) (120 bps) Adjusted EBITDA(1) 63.4 77.3 80.2 71.5 13% 4% Adjusted EBITDA margin(1) 45.7% 51.0% 50.6% 45.1% (60 bps) (40 bps) Adjusted diluted EPS(1) €0.12 €0.10 €0.10 €0.14 1,610% 6% Revenue growth of 14% Y/Y and 5% Q/Q Recurring revenue up 14% Y/Y and 3% Q/Q Recurring ARPU at €416 (1Q19: €414) Gross profit up 14% Y/Y(2) and 3% Q/Q Gross profit margin decreased 30 bps Y/Y(2) Adjusted EBITDA up 13% Y/Y(2) and 4% Q/Q Adjusted EBITDA margin decreased 60 bps Y/Y(2) 2Q 2019 Results


Slide 11

2Q 2019 Reporting Segment Analysis Revenue up 12% Y/Y, 5% Q/Q Recurring revenue up 11% Y/Y, 2% Q/Q Adjusted EBITDA up 10% Y/Y(1), up 1% Q/Q Adjusted EBITDA margin(1) at 56.8% Strength in Austria, Denmark, Spain and Sweden Note: This analysis excludes “Corporate & Other” segment. Totals may not sum due to rounding. (1) Adjusted to exclude the impact of IFRS 16. Revenue up 15% Y/Y, 4% Q/Q Recurring revenue up 15% Y/Y, 4% Q/Q Adjusted EBITDA up 12% Y/Y(1), 3% Q/Q Adjusted EBITDA margin(1) at 54.3% Strength in France and Germany Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) 56.2% 55.4% 54.0% 57.4% 59.0% 60.9% France, Germany, Netherlands & UK 60.3% 64.2% 59.6% 61.7% Rest of Europe 15% Recurring Revenue Growth in Big 4


Slide 12

Disciplined Investments(1) 79% 79% 80% Utilisation rate 80% Disciplined Capital Expenditure to Meet Customer Demand 63% of capex invested in Big 4 95% of capex invested in discretionary expansion projects Maintenance capex at 2% of total revenue Including intangible assets. Totals may not sum due to rounding. 79%


Slide 13

€283 million in net proceeds raised from equity offering closed in July 4.8% blended cost of debt(7) 2Q 2019 LTM Cash ROGIC 11% Reported leverage increased due to impact of IFRS 16 LTM Net Leverage (excl. IFRS 16 impact): 4.6x Net leverage of 3.7x pro forma for the equity issue S&P rating upgraded to BB Strong Balance Sheet Pro forma: reflecting impact of 1 July 2019 equity issuance and repayment of outstanding RCF loan. Total Borrowings = 4.75% Senior Notes due 2025 (“Senior Notes”), shown including the impact of premiums, commissions, offering fees and expenses + Mortgages + Revolving facilities borrowings. This excludes Finance leases which are under IFRS 16 included in Lease liabilities. Lease Liabilities = liabilities recognised from 1 January 2019 under IFRS 16, including finance leases which previously (under IAS 17) were part of Total borrowings. Gross Leverage Ratio =  (Senior Notes at face value + Mortgages + Revolving facilities borrowings + Lease liabilities)  /  LQA (last quarter annualised) Adjusted EBITDA. Net Leverage Ratio = (Senior Notes at face value + Mortgages + Revolving facilities borrowings + Lease liabilities – Cash & Cash Equivalents)  /  LQA (last quarter annualised) Adjusted EBITDA. Net Leverage Ratio (excluding impact of IFRS 16) = (Senior Notes at face value + Mortgages + Finance Leases + Revolving facilities borrowings – Cash & Cash Equivalents)  /  LTM Adjusted EBITDA. Excluding lease liabilities. € millions 30-Jun-19 30-Jun-19 Pro-forma(1) 31-Dec-18 Cash & Cash Equivalents 55.6 298.8 186.1 Total Borrowings(2) 1,276.7 1,236.7 1,239.8 Lease Liabilities(3) 451.1 451.1 50.4 Total Borrowings and Lease Liabilities 1,727.8 1,687.8 1,290.1 Shareholders Equity 660.5 943.7 633.4 Gross Leverage Ratio LQA(4) 5.4x 5.3x 4.8x Net Leverage Ratio LQA(5) 5.2x 4.3x 4.1x Net Leverage Ratio LTM (excluding IFRS 16 impact)(6) 4.6x 3.7x 4.3x Enhanced Balance Sheet to Support Continued Expansion


Slide 14

36 fully built-out(1) data centres(2) Space fully equipped Some power upgrades yet to come As of 1 January 2018 89,100 sqm of equipped space 79% utilisation rate 3% LTM constant currency recurring revenue growth 22% cash return Disciplined Investments Drive Strong Returns Q2 2019 LTM Returns (€ millions) Note: This slide excludes the impact IFRS 16. Fully Built-Out Data Centre: a data centre for which materially all equippable space is equipped as at 1 January 2018. However, future power upgrades can further increase the capacity of a fully built out data centre. 36 Fully Built-Out Data Centres as at 1 January 2018: AMS1, AMS3, AMS4, AMS5, AMS6, AMS7, BRU1, CPH1, DUB1, DUB2, FRA1, FRA2, FRA3, FRA4, FRA5, FRA7, FRA8, FRA9, FRA10, FRA12, DUS1, LON1, LON2, MAD1, MAD2, PAR1, PAR2, PAR3, PAR4, PAR5, PAR6, STO1, STO2, 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 2019. Attractive Cash Returns from Fully Built-Out(1) Data Centres


Slide 15

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


Slide 16

Current Opportunity: Migration of Existing Applications ON-PREMISE & OUTSOURCED DATA CENTRES PUBLIC CLOUD (Self-Build & Third-Party) ENTERPRISE COLOCATION Migration to Public Cloud Multi-Cloud, Hybrid Cloud Cloud Access ADDRESSABLE OPPORTUNITY


Slide 17

Future Opportunity: Placement of Next Gen Applications PUBLIC CLOUD (Self-Build & Third-Party) ENTERPRISE COLOCATION ADDRESSABLE OPPORTUNITY Edge Workloads Workload Optimisation NEXT-GEN APPLICATIONS ENTERPRISE EDGE Highly-Connected Workloads Cloud Native Workloads Connected Compute Real-Time Analytics Internet of Things Artificial Intelligence


Slide 18

Guidance for 2019 Adjusted EBITDA is a non-IFRS figure intended to adjust for certain items. The definition of Adjusted EBITDA can be found in the “Definitions” section in this slide deck. Interxion does not provide an outlook for an IFRS profitability metric. Consequently, the company is unable to reconcile the outlook for Adjusted EBITDA. Revenue Adjusted EBITDA Capital Expenditure €632m – €647m €324m – €334m €570m – €600m


Slide 19

Questions & Answers


Slide 20

Appendix


Slide 21

A leading carrier & cloud neutral data centre operator across Europe Interxion Overview 53 Data centres in Operation 13 Cities 11 Countries 700+ Connectivity Providers 20+ Internet Exchanges 500+ Platform Providers 2,000+ Customers 800+ Employees Note: Figures as of 30 June 2019.


Slide 22

Track Record Of Execution Note: This slide excludes the impact of IFRS 16 and includes Interxion Science Park as of 24 February 2017. CAGR calculated as 2018 vs 2010. Adjusted EBITDA margin calculated as Adjusted EBITDA divided by Revenue. Aadjusted to exclude the impact of IFRS 16. CAGR(1) = 13% CAGR(1) = 16% 38% 40% 42% 43% 43% 44% 45% 45% 46% 46% 45% 21% 17% 13% 11% 11% 13% 9% 16% 15% 14% 14% 51 Consecutive Quarters of Revenue and Adjusted EBITDA Growth YOY Growth 26% 23% 18% 15% 11% 17% 11% 16% 17% 14% 13% Adj. EBITDA Margin(2) YOY Growth (3) (3)


Slide 23

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 Revenue Develops Over Time Driven by Power Reservation and Energy Consumption Illustrative ARPU Development 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


Slide 24

IFRS 16 – Lease Accounting Metric Significant Considerations Impact Revenue Certain components of revenue are recognised as lease revenue. Negligible impact on revenue metrics Adjusted EBITDA Properties and other assets leased under operating lease agreements are recognised as right of use assets and lease liabilities, reducing rent expense and increasing interest expense and depreciation charges. 540 bps increase to Adjusted EBITDA margin in 2Q 2019 Leverage Recognising right of use assets and lease liabilities for data centres leased under operating leases increases the level of reported third party debt resulting in an increase in reported gross and net leverage. Impact as at 30 June 2019: Gross leverage (LQA):+0.8x Net leverage (LQA):+0.8x IFRS 16 adopted 1 January 2019 Operating leases and financial leases are now treated the same IFRS 16 does not impact Interxion’s financial covenant reporting on debt or revolving credit facilities More comparable with our U.S. peer group


Slide 25

Historical Financial Results Note: Figures rounded to nearest net €0.1 million. Totals may not sum due to rounding. Includes €0.8 million, €0.6 million, €1.6 million, €1.6 million, €1.2 million, €1.0 million, €0.7 million, €0.3 million, €0.1 million and €0.6 million of M&A transaction costs in 1Q17, 2Q17, 3Q17, 4Q17, 1Q18, 2Q18, 3Q18, 4Q18, 1Q19 and 2Q19 respectively. Includes €11.2 million of one-time charge related to termination of financing arrangements. € millions (except as noted) 2017 2018 2019 2017 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY Recurring revenue 108.3 113.4 117.4 123.4 127.0 131.7 134.8 139.7 145.3 150.0 462.5 533.1 Non-recurring revenue 5.7 7.4 7.3 6.5 6.9 7.1 7.4 7.2 6.3 8.5 26.8 28.7 Total revenue 113.9 120.8 124.6 129.9 133.8 138.8 142.2 146.9 151.5 158.5 489.3 561.8 Gross profit 69.9 72.9 75.0 81.0 81.1 85.1 86.3 89.7 101.1 103.7 298.8 342.3 Gross profit margin 61.3% 60.3% 60.2% 62.4% 60.6% 61.3% 60.7% 61.1% 66.7% 65.5% 61.1% 60.9% Adj EBITDA 51.3 54.3 56.2 59.1 60.9 63.4 65.8 67.7 77.3 80.2 221.0 257.8 Adj EBITDA margin 45.1% 45.0% 45.1% 45.5% 45.5% 45.7% 46.3% 46.1% 51.0% 50.6% 45.2% 45.9% Net income / (loss) 10.3(1) 9.7(1) 9.4(1) 9.7(1) 11.7(1) 0.6(1)(2) 10.9(1) 8.0(1) 8.4(1) 8.6(1) 39.1(1) 31.1(1) CapEx paid 54.8 56.4 75.2 69.7 96.2 120.5 103.2 131.3 144.1 123.5 256.0 451.2 Expansion / upgrade 49.0 46.0 69.7 60.2 90.1 109.6 99.7 120.7 137.5 117.4 224.8 420.0 Maintenance & other 4.0 7.4 4.0 7.0 4.2 7.9 2.5 5.2 3.2 2.6 22.4 19.7 Intangibles 1.8 3.0 1.4 2.5 2.0 3.0 1.0 5.4 3.4 3.5 8.8 11.4 Cash generated from operations 63.0(1) 40.6(1) 55.2(1) 50.3(1) 58.1(1) 55.1(1) 60.9(1) 76.9(1) 79.9(1) 71.8(1) 209.0(1) 251.0(1) Gross PP&E 1.728.5 1,778.3 1,844.6 1,935.1 2,020.8 2,139.5 2,257.4 2,427.3 2,510.9 2,649.9 1,935.1 2,427.3 Gross intangible assets 113.3 114.8 114.9 117.0 119.7 122.5 123.4 128.8 130.4 135.7 117.0 128.8 Gross Goodwill 40.2 39.4 38.9 38.9 38.9 38.9 38.9 38.9 38.9 38.9 38.9 38.9 LTM Cash ROGIC 12% 12% 12% 11% 11% 11% 11% 12% 11% 11% 11% 12%


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Historical Reporting Segment Financial Results Note: Figures rounded to nearest net €0.1 Million. Totals may not sum due to rounding. € millions (except as noted) 2017 2018 2019 2017 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY Big 4 Recurring revenue 70.0 74.2 76.6 81.6 83.5 87.3 89.2 92.7 96.9 100.7 302.3 352.7 Non-recurring revenue 3.4 4.7 4.3 3.9 4.5 4.2 4.4 4.6 4.4 5.0 16.3 17.6 Total revenue 73.4 78.9 80.8 85.6 87.9 91.5 93.6 97.3 101.3 105.6 318.6 370.3 Gross profit margin 61.9% 62.0% 61.0% 64.4% 61.1% 63.2% 61.9% 61.2% 67.4% 66.3% 62.4% 61.8% Adj EBITDA 40.2 43.1 43.4 48.1 48.0 51.4 51.8 52.6 61.1 62.9 174.8 203.8 Adj EBITDA margin 54.7% 54.7% 53.7% 56.2% 54.6% 56.2% 55.4% 54.0% 60.3% 59.6% 54.9% 55.0% CapEx Paid 35.1 40.7 51.6 47.4 70.6 82.6 80.1 85.4 99.6 77.8 174.8 318.6 Rest of Europe Recurring revenue 38.3 39.2 40.8 41.8 43.5 44.4 45.6 46.9 48.4 49.3 160.2 180.4 Non-recurring revenue 2.3 2.7 3.0 2.5 2.4 2.9 3.0 2.7 1.8 3.5 10.5 11.1 Total revenue 40.6 42.0 43.8 44.3 45.9 47.3 48.6 49.6 50.2 52.8 170.7 191.4 Gross profit margin 66.8% 65.2% 65.8% 66.7% 67.6% 65.0% 66.4% 68.4% 71.8% 69.8% 66.1% 66.8% Adj EBITDA 23.7 24.0 25.9 26.1 27.6 27.2 28.7 30.2 32.2 32.6 99.7 113.7 Adj EBITDA margin 58.3% 57.3% 59.1% 58.8% 60.0% 57.4% 59.0% 60.9% 64.2% 61.7% 58.4% 59.4% CapEx Paid 16.2 13.7 21.1 18.7 22.7 29.8 20.7 40.6 41.6 37.9 69.8 113.8 Corporate & Other Adj EBITDA (12.5) (12.8) (13.1) (15.1) (14.7) (15.1) (14.8) (15.1) (16.1) (15.4) (53.5) (59.7) CapEx Paid 3.4 2.1 2.3 3.5 3.0 8.2 2.4 5.3 2.9 7.8 11.4 18.8


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Historical Operating Metrics(1) Interxion Science Park was acquired in February 2017. One data centre added to “Data centres in operation” at 1Q 2017. Starting from 1Q 2018, totals include 2,300 sqm of equipped space and 1,300 sqm of revenue generating space from Interxion Science Park. 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 of the date of each quarter’s respective report. Utilisation as of the end of the reporting period. Space figures in square metres(2) Recurring ARPU in € Customer Power in MW(2) 2017 2018 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Equipped space 114,100 117,000 118,900 122,500 128,900 132,600 140,300 144,800 148,300 154,800 Equipped space added 3,300 2,900 1,900 3,600 4,000 3,700 7,700 4,500 3,500 6,500 Revenue generating space 89,800 95,000 97,100 99,800 104,100 106,200 111,200 115,000 119,000 121,600 RGS added 2,600 5,200 2,100 2,700 2,900 2,100 5,000 3,800 4,000 2,600 Recurring ARPU 405 403 401 411 412 418 413 412 414 416 Utilisation rate (%)(3) 79% 81% 82% 81% 81% 80% 79% 79% 80% 79% Equipped customer power 136 142 146 160 166 169 185 199 199 208 Maximum equippable customer power(2) 195 203 223 225 241 276 278 314 326 326 Data centres in operation 45 45 48 49 50 50 51 51 52 53


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Scheduled Equipped Space Additions Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not sum due to rounding. Excludes acquisition of Interxion Science Park, which added approximately 2,300 sqm from 1Q17. 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. Space figures in square metres(1) 2017(2) 2018 2019E(3) 2020E(3) 2021E 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3QE 4QE 1QE 2QE 3QE 4QE FYE Big 4 France 1,600 1,500 100 ‒ ‒ 900 600 1,500 300 1,500 ‒ 2,500 2,300 ‒ 2,400 ‒ ‒ Germany ‒ ‒ 1,100 2,400 2,400 ‒ 2,400 300 2,900 300 2,400 2,200 ‒ 2,300 ‒ 2,600 4,700 Netherlands 1,300 ‒ ‒ ‒ ‒ ‒ 3,200 2,700 ‒ ‒ ‒ 2,700 4,100 ‒ 2,700 ‒ ‒ UK ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 300 600 900 ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 3,000 1,500 1,200 2,400 2,400 800 6,200 4,500 3,500 2,400 3,300 7,400 6,400 2,300 5,100 2,600 4,700 Rest of Europe Austria ‒ 1,100 ‒ 300 400 400 1,200 ‒ ‒ 2,000 ‒ 200 ‒ ‒ ‒ ‒ ‒ Belgium ‒ ‒ ‒ ‒ 1,100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark 300 300 ‒ ‒ ‒ 900 ‒ ‒ ‒ ‒ ‒ 600 ‒ ‒ ‒ ‒ ‒ Ireland ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Spain ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,300 700 700 ‒ ‒ ‒ ‒ ‒ Sweden 100 ‒ 300 200 100 300 ‒ ‒ ‒ 800 ‒ ‒ ‒ 500 ‒ 600 ‒ Switzerland ‒ ‒ 400 700 100 ‒ 200 ‒ ‒ ‒ ‒ 100 ‒ ‒ 3,600 ‒ ‒ Subtotal 400 1,400 700 1,200 1,700 2,800 1,400 ‒ ‒ 4,100 700 1,600 ‒ 500 3,600 600 ‒ Total additional equipped space 3,300 2,900 1,900 3,600 4,000 3,700 7,700 4,500 3,500 6,500 4,000 9,000 6,400 2,800 8,700 3,200 4,700 23,000 sqm in 2019E 19,900 sqm in 2018 11,700 sqm in 2017 21,100 sqm in 2020E


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Space Analysis by Country Note: Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not sum due to rounding. As of 30 June 2019. Expansions announced after the end of the quarter are excluded. Maximum Equippable Space (incl DC’s under construction) = Equipped Space + Under Construction Space + Unequipped Space. Future expansion additions based on announced schedules only, which is subject to change; excludes expansions announced after the end of the period. Excludes land bank and undeveloped properties. Space figures in square metres Data centres in Operation / Under Construction Maximum Equippable Space in Country(1) (incl DC’s under construction) Equipped Space in Country Equipped Space Under Construction in Country(2) Unequipped Space Available for Development(3) Big 4 France 10 40,000 28,200 4,800 7,000 Germany 17 50,400 36,000 9,500 4,700 Netherlands 9 45,400 31,000 9,500 4,900 UK 3 8,700 7,800 900 0 Subtotal 39 144,500 102,900 24,700 11,700 Rest of Europe Austria 2 13,800 13,300 200 0 Belgium 2 6,200 6,200 0 0 Denmark 2 6,400 5,800 600 0 Ireland 3 5,800 5,800 0 0 Spain 3 8,300 7,000 1,300 0 Sweden 5 6,800 6,600 0 0 Switzerland 2 14,000 7,300 3,700 3,000 Subtotal 18 61,300 52,000 5,800 3,000 Total 58 205,800 154,800 30,500 14,700


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Pan-European Data Centre Portfolio 18 Location Owned / Leased Build Out Status(1) Maximum Equippable Space (sqm)(2) Location Owned / Leased Build Out Status(1) Maximum Equippable Space (sqm)(2) Big 4 France Netherlands MRS1 Owned Expanding 6,400 AMS1 Leased Fully 600 MRS2 Leased Expanding 4,500 AMS3 Owned Fully 3,000 MRS3 Leased Under Construction 7,100 AMS4 Leased Fully NM (4) PAR1 Leased Fully 1,400 AMS5 Leased Fully 4,300 PAR2 Leased Fully 2,900 AMS6 Owned Fully 4,400 PAR3 Owned Fully 1,900 AMS7 Leased(3) Fully 7,600 PAR4 Leased Fully 1,300 AMS8 Leased Expanding 8,200 PAR5 Owned Fully 4,000 AMS9 Owned Expanding 2,800 PAR6 Leased Fully 1,300 AMS10 Owned Under Construction 14,400 PAR7 Owned Expanding 9,300 UK LON1 Leased Fully 5,400 LON2 Leased Fully 1,500 LON3 Leased Expanding 1,800 Germany DUS1 Leased Fully 3,300 FRA7 Leased Fully 1,500 DUS2 Leased Expanding 1,800 FRA8 Owned Fully 3,700 FRA1 Leased Fully 500 FRA9 Leased Fully 800 FRA2 Leased Fully 1,100 FRA10 Owned Fully 4,800 FRA3 Leased Fully 2,200 FRA11 Owned Expanding 4,800 FRA4 Leased Fully 1,400 FRA12 Leased Fully 1,100 FRA5 Leased Fully 1,700 FRA13 Owned Expanding 4,900 FRA6 Leased Expanding 2,600 FRA14 Owned Under Construction 4,600 FRA15 Owned Under Construction 9,800 ROE Austria   Spain       VIE1 Owned Fully 4,700 MAD1 Leased Fully 4,000 VIE2 Owned Expanding 9,000 MAD2 Leased Fully 1,700 MAD3 Owned Expanding 2,700 Belgium     Sweden     BRU1 Owned Fully 5,100 STO1 Leased Fully 1,900 BRU2 Leased Expanding 1,100 STO2 Leased Fully 1,200 Denmark     STO3 Leased Fully 900 CPH1 Leased Fully 3,700 STO4 Leased Fully 1,100 CPH2 Owned Expanding 2,600 STO5 Leased Expanding 1,700 Ireland     Switzerland     DUB1 Leased Fully 1,100 ZUR1 Leased Expanding 7,600 DUB2 Leased Fully 2,300 ZUR2 Leased Under Construction 6,600 DUB3 Owned Expanding 2,300 Total 205,800 Note: Totals may not sum due to rounding. Built Out Status as of 1 January 2018, consistent with slide 14. As of 30 June 2019. Purchase options have been exercised, though not yet closed. Maximum equippable space for AMS4 is included in the maximum equippable space of AMS1. Includes purchase options have been exercised, though not yet closed. Totals: # Sqm %         Owned(5) 21 112,800 55% Leased 37 93,000 45% Total 58 205,800 100%


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Non-IFRS Reconciliation Note: Figures rounded to nearest net €0.1 million. Totals may not sum due to rounding. Includes €31.0 million of one-off charges related to debt refinancing. Includes €11.2 million of one-off charges related to termination of financing arrangements. This re-assessment relates to years prior to 2018 and is therefore not representative of our current ongoing business. € millions (except as noted) 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q 2Q 3Q 4Q 1Q 2Q Net income 14.7 25.5 31.6 6.9(1) 34.4 46.7 38.3 39.1 11.7 0.6(2) 10.9 8.0 8.4 8.6 Income tax expense 2.5 9.7 15.8 6.1 15.5 17.9 16.4 14.8 3.8 2.8 4.4 7.3 4.8 3.6 Profit before taxation 17.2 35.2 47.4 13.0 49.9 64.6 54.7 53.9 15.5 3.4 15.3 15.3 13.2 12.2 Share in result of equity-accounted investees, net of tax ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 0.2 Net finance expense 29.5 22.9 17.8 57.5(1) 27.9 29.0 36.3 44.3 11.4 22.9(2) 11.7 15.8 16.7 17.1 Operating profit 46.7 58.1 65.2 70.5 77.8 93.6 91.0 98.3 26.9 26.3 27.1 31.0 29.8 29.6 Depreciation and amortisation 31.1 35.6 44.0 57.6 62.2 78.3 89.8 108.3 29.6 32.2 32.9 34.3 41.7 44.3 Share-based payments 1.7 2.6 5.4 4.2 7.2 9.0 7.9 9.9 3.3 3.9 3.9 1.5 5.7 5.7 Increase/(decrease) in provision for onerous lease contracts 0.2 0.0 0.8 ‒ (0.8) (0.2) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ IPO transaction costs ‒ 1.7 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ M&A transaction costs ‒ ‒ ‒ ‒ 0.3 11.9 2.4 4.6 1.2 1.0 0.7 0.3 0.1 0.6 Re-assessment of indirect taxes(3) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1.2 0.6 ‒ ‒ Items related to sub-leases on unused data centre sites (0.4) (0.4) (0.4) (0.3) (0.4) (0.4) (0.1) (0.1) (0.1) ‒ ‒ ‒ ‒ ‒ Increase/(decrease) in provision for site restoration ‒ ‒ ‒ ‒ ‒ ‒ (0.2) ‒ ‒ ‒ ‒ ‒ ‒ ‒ Adjusted EBITDA 79.2 97.6 115.0 131.9 146.4 171.2 190.8 220.9 60.9 63.4 65.8 67.7 77.3 80.2 IFRS 16 adjustments ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (8.0) (8.7) Adjusted EBITDA excl. the impact of IFRS 16 79.2 97.6 115.0 131.9 146.4 171.2 190.8 220.9 60.9 63.4 65.8 67.7 69.3 71.5


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Reconciliation to Segment Adjusted EBITDA Note: Figures rounded to nearest net €0.1 million. Totals may not sum due to rounding. The re-assessment relates to years prior to 2018 and is therefore not representative of our current ongoing business. € millions 2017 2018 2019 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q BIG 4 Operating profit 24.0 24.8 24.2 28.2 27.6 30.3 30.4 29.5 33.3 33.6 Depreciation and amortisation 15.9 18.1 18.8 19.9 20.1 20.8 21.2 22.9 27.4 29.0 Share-based payments 0.3 0.2 0.4 0.1 0.3 0.3 0.3 0.2 0.4 0.3 Items related to sub-leases on unused data centre sites ‒ ‒ ‒ (0.1) (0.1) ‒ ‒ ‒ ‒ ‒ Adjusted EBITDA 40.2 43.1 43.4 48.1 48.0 51.4 51.8 52.6 61.1 62.9 IFRS 16 adjustments ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (5.1) (5.5) Adjusted EBITDA excl. the impact of IFRS 16 40.2 43.1 43.4 48.1 48.0 51.4 51.8 52.6 56.0 57.4   ROE Operating profit 16.7 16.4 18.3 18.5 19.6 18.6 18.0 20.8 21.0 20.6 Depreciation and amortisation 7.0 7.4 7.5 7.5 7.7 8.2 9.3 8.7 10.9 11.7 Share-based payments (0.0) 0.2 0.1 0.1 0.2 0.3 0.3 0.1 0.4 0.2 Re-assessment of indirect taxes(1) ‒ ‒ ‒ ‒ ‒ ‒ 1.2 0.6 ‒ ‒ Adjusted EBITDA 23.7 24.0 25.9 26.1 27.6 27.2 28.7 30.2 32.2 32.6 IFRS 16 adjustments ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (2.4) (2.6) Adjusted EBITDA excl. the impact of IFRS 16 23.7 24.0 25.9 26.1 27.6 27.2 28.7 30.2 29.8 30.0   CORPORATE & OTHER Operating profit/(loss) (16.9) (16.9) (18.1) (20.9) (20.4) (22.7) (21.3) (19.4) (24.5) (24.7) Depreciation and amortisation 1.3 1.7 1.5 1.6 1.7 3.2 2.5 2.7 3.4 3.6 Share-based payments 2.3 1.8 1.9 2.5 2.8 3.4 3.4 1.3 4.9 5.1 M&A transaction costs 0.8 0.6 1.6 1.6 1.2 1.0 0.7 0.3 0.1 0.6 Adjusted EBITDA (12.5) (12.8) (13.1) (15.1) (14.7) (15.1) (14.8) (15.1) (16.1) (15.4) IFRS 16 adjustments ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ (0.5) (0.5) Adjusted EBITDA excl. the impact of IFRS 16 (12.5) (12.8) (13.1) (15.1) (14.7) (15.1) (14.8) (15.1) (16.6) (15.9)


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Summary of IFRS 16 Impact € millions (except as noted) Income Statement Impact Three months ended Jun-30 2019 As reported Effect of change due to IFRS 16 Three months ended Jun-30 2019 Excl. IFRS 16 Consolidated Recurring revenue 150.0 - 150.0 Non-recurring revenue 8.5 - 8.5 Revenue 158.5 - 158.5 Gross profit 103.7 7.0 96.7 Gross profit margin 65.5% 4.4% 61.0% Operating income 29.6 1.3 28.3 Adjusted EBITDA 80.2 8.7 71.5 Adjusted EBITDA margin 50.6% 5.4% 45.1% Depreciation and amortisation 44.3 7.3 37.0 Net finance expense 17.1 3.1 14.1 BIG 4 Recurring revenue 100.7 - 100.7 Non-recurring revenue 5.0 - 5.0 Revenue 105.6 - 105.6 Operating income 33.6 1.1 32.5 Adjusted EBITDA 62.9 5.5 57.4 Adjusted EBITDA margin 59.6% 5.3% 54.3% ROE Recurring revenue 49.3 - 49.3 Non-recurring revenue 3.5 - 3.5 Revenue 52.8 - 52.8 Operating income 20.6 0.1 20.5 Adjusted EBITDA 32.6 2.6 30.0 Adjusted EBITDA margin 61.7% 4.9% 56.8% CORP Operating income (24.7) - (24.7) Adjusted EBITDA (15.4) 0.5 (15.9) € millions Balance Sheet Impact Jun-30 2019 As reported Effect of change due to IFRS 16 Jun-30 2019 Excl. IFRS 16 Consolidated Non-current assets 2,479.2 408.4 2,070.8 Current assets 264.2 (18.6) 282.7 Non-current liabilities 1,693.6 368.5 1,325.1 Current liabilities 389.0 24.0 365.0 BIG 4 Total assets 1,968.4 280.7 1,687.7 Total liabilities 623.1 282.6 340.4 ROE Total assets 685.3 105.9 579.4 Total liabilities 210.7 106.6 104.2 CORP Total assets 89.7 3.3 86.4 Total liabilities 1,248.8 3.3 1,245.5


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Adjusted EBITDA: We define Adjusted EBITDA as Net income adjusted for income tax expense, net finance expense, depreciation and amortisation, 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 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 Adjusted EBITDA excluding the impact of IFRS 16: For comparative purposes with regard to Adjusted EBITDA presented in periods prior to 1 January 2019, the effective date of IFRS 16, we present Adjusted EBITDA excluding the impact of IFRS 16 - Leases Adjusted diluted earnings per share: Adjusted diluted earnings per share amounts are determined on Adjusted net income Adjusted net income: We define Adjusted net income as Net income adjusted to exclude income or expense related to the evaluation and execution of potential mergers or acquisitions, adjustments related to provisions that are not reflective of our ongoing operating performance, and adjustments related to capitalised interest. 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 ARPU: Monthly recurring revenue per square meter 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} Big 4: France, Germany, the Netherlands and the UK CAGR: Compound Annual Growth Rate Capital expenditures including intangible assets: Represents payments to acquire property, plant and 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 intangible 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 defined as {LTM Adjusted EBITDA excluding the impact of IFRS 16, less cash taxes, less maintenance and other capex} divided by {Average of opening and closing Gross Invested Capital}. Where Gross Invested Capital represents gross PP&E, plus gross Intangible assets, plus gross Goodwill, less assets under construction, less carrying value of undeveloped land Definitions 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 mainly comprising 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 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 date indicated, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure LTM or Last twelve months: Twelve-month period ended 30 June 2019, unless otherwise noted MW: Megawatts 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 date indicated SQM: Square metres Utilisation rate: On the date indicated, 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%


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Interxion Leadership David Ruberg, Chief Executive Officer John Doherty, 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 Berenberg, Nate Crossett Citi, Mike Rollins Cowen, Colby Synesael Credit Suisse, Sami Badri Guggenheim, Rob Gutman Oppenheimer, Tim Horan Raymond James, Frank Louthan RBC Capital Markets, Jon Atkin Stifel, Erik Rasmussen 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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