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 1 November 2018

(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) third quarter 2018 earnings press release and (2) presentation materials to be used during a conference call with investors on 1 November 2018.

 

Exhibit

    
99.1    The press release “Interxion Reports Third Quarter 2018 Results”, dated 1 November 2018.
99.2    Presentation materials to be used during a conference call with investors on 1 November 2018.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

INTERXION HOLDING N.V.
By:  

/s/ David C. Ruberg

Name:   David C. Ruberg
Title:   Chief Executive Officer

Date: 1 November 2018

EX-99.1

Exhibit 99.1

 

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Press Release, 1 November 2018

Interxion Reports Third Quarter 2018 Results

14% Year Over Year Revenue Growth

AMSTERDAM 1 November 2018 – InterXion Holding NV (NYSE: INXN), a leading European provider of carrier and cloud-neutral colocation data centre services, announced its results today for the three months ended 30 September 2018.

Financial Highlights*

 

   

Revenue increased 14% to €142.2 million (3Q 2017: €124.6 million).

 

   

Recurring revenue1 increased 15% to €134.8 million (3Q 2017: €117.4 million).

 

   

Net income increased 16% to €10.9 million (3Q 2017: €9.4 million).

 

   

Adjusted net income2 increased by 16% to €11.6 million (3Q 2017: €10.0 million).

 

   

Earnings per diluted share increased by 15% to €0.15 (3Q 2017: €0.13).

 

   

Adjusted earnings2 per diluted share increased by 16% to €0.16 (3Q 2017: €0.14).

 

   

Adjusted EBITDA2 increased by 17% to €65.8 million (3Q 2017: €56.2 million).

 

   

Adjusted EBITDA margin increased to 46.3% (3Q 2017: 45.1%).

 

   

Capital expenditures, including intangible assets3, were €103.2 million (3Q 2017: €75.2 million).

 

* 

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

 

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Press Release, 1 November 2018

 

   

Issued €200 million aggregate principal amount of additional 4.75% Senior Notes due 2025 at an issue price of 103.00%.

Operating Highlights

 

   

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

 

     

3,300 sqm expansion across two data centres in Amsterdam;

 

     

2,400 sqm expansion across two data centres in Frankfurt, including the opening of FRA13;

 

     

600 sqm expansion in Marseille;

 

     

1,200 sqm expansion in Vienna; and

 

     

200 sqm expansion in Zurich.

 

   

Equipped space increased by 7,700 square metres in the third quarter to 140,300 square metres.

 

   

Revenue generating space increased by 5,000 square metres in the third quarter to 111,200 square metres.

 

   

Utilisation rate at the end of the third quarter was 79%.

“Growing demand from the major cloud and content platforms for Interxion’s highly-connected data centres is driving strong bookings and steady revenue growth,” said David Ruberg, Interxion’s Chief Executive Officer. “The underlying demand drivers are secular in nature and, accordingly, we have enhanced our balance sheet and expanded capacity in key markets to meet this demand.”

 

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Press Release, 1 November 2018

 

Quarterly Review

Revenue in the third quarter of 2018 was €142.2 million, a 14% increase over the third quarter of 2017 and a 2% increase over the second quarter of 2018. Recurring revenue was €134.8 million, a 15% increase over the third quarter of 2017 and a 2% increase over the second quarter of 2018. Recurring revenue in the third quarter represented 95% of total revenue. On a constant currency4 basis, revenue in the third quarter of 2018 was 14% higher than in the third quarter of 2017.

Cost of sales in the third quarter of 2018 was €55.9 million, a 13% increase over the third quarter of 2017 and a 4% increase over the second quarter of 2018.

Gross profit was €86.3 million in the third quarter of 2018, a 15% increase over the third quarter of 2017 and a 1% increase over the second quarter of 2018. Gross profit margin was 60.7% in the third quarter of 2018, compared with 60.2% in the third quarter of 2017 and 61.3% in the second quarter of 2018.

Sales and marketing costs in the third quarter of 2018 were €8.7 million, a 6% increase over the third quarter of 2017 and a 9% decrease from the second quarter of 2018.

Other general and administrative costs (excluding depreciation and amortisation, share-based payments, M&A transaction costs and other adjusting items) were €11.8 million in the third quarter of 2018, a 12% increase over the third quarter of 2017 and a 2% decrease from the second quarter of 2018.

Depreciation and amortisation in the third quarter of 2018 was €32.9 million, an 18% increase from the third quarter of 2017 and a 2% increase from the second quarter of 2018.

Operating income in the third quarter of 2018 was €27.1 million, an 11% increase from the third quarter of 2017 and a 3% increase from the second quarter of 2018.

Net finance expense in the third quarter of 2018 was €11.7 million, an 8% increase from the third quarter of 2017 and a 49% decrease from the second quarter of 2018 (no change from the second quarter of 2018 when excluding €11.2 million of one-time financing charges related to the refinancing of our capital structure that occurred in the second quarter of 2018).

 

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Press Release, 1 November 2018

 

On 20 September 2018, Interxion completed the issuance of €200 million principal amount of additional 4.75% Senior Notes due 2025 at an issue price of 103.00%, resulting in net proceeds of €203.8 million.

Income tax expense for the third quarter of 2018 was €4.4 million, an 8% increase compared with the third quarter of 2017 and a 59% increase from the second quarter of 2018. The sequential increase in the quarterly income tax expense reflects the impact on taxable income of the one-time refinancing charges in the second quarter of 2018.

Net income was €10.9 million in the third quarter of 2018, a 16% increase over the third quarter of 2017 and a €10.3 million increase from the second quarter of 2018, which was impacted by €11.2 million of one-time charges relating to the refinancing in the second quarter of 2018.

Adjusted net income was €11.6 million in the third quarter of 2018, a 16% increase over the third quarter of 2017 and a 31% increase from the second quarter of 2018.

Adjusted EBITDA for the third quarter of 2018 was €65.8 million, a 17% increase over the third quarter of 2017 and a 4% increase over the second quarter of 2018. Adjusted EBITDA margin was 46.3% in the third quarter of 2018, compared with 45.1% in the third quarter of 2017 and 45.7% in the second quarter of 2018.

Net cash flows from operating activities were €53.9 million in the third quarter of 2018, compared with €32.5 million in the third quarter of 2017 and €31.6 million in the second quarter of 2018.

Cash generated from operations5 was €60.9 million in the third quarter of 2018, compared with €55.2 million in the third quarter of 2017 and €55.1 million in the second quarter of 2018.

 

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Capital expenditures, including intangible assets, were €103.2 million in the third quarter of 2018, compared with €75.2 million in the third quarter of 2017 and €120.5 million in the second quarter of 2018.

Cash and cash equivalents were €289.9 million at 30 September 2018, compared with €38.5 million at year end 2017.

Total borrowings, net of deferred financing fees, were €1,289.7 million at 30 September 2018, compared with €832.6 million at year end 2017.

Equipped space at the end of the third quarter of 2018 was 140,300 square metres, compared with 118,900 square metres at the end of the third quarter of 20176 and 132,600 square metres at the end of the second quarter of 2018. Revenue generating space at the end of the third quarter of 2018 was 111,200 square metres, compared with 97,100 square metres at the end of the third quarter of 20176 and 106,200 square metres at the end of the second quarter of 2018. Utilisation rate, the ratio of revenue-generating space to equipped space, was 79% at the end of the third quarter of 2018, compared with 82% at the end of the third quarter of 2017 and 80% at the end of the second quarter of 2018.

Business Outlook

Interxion today is reaffirming guidance for Revenue and Adjusted EBITDA and updating guidance for full year 2018 for Capital expenditures (including intangibles):

 

Revenue

   €553 million – €569 million

Adjusted EBITDA

   €250 million – €260 million

Capital expenditures (including intangibles)

   €425 million – €450 million

 

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Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (12:30 p.m. GMT, 1:30 p.m. CET) to discuss the results.

To participate on this call, U.S. callers may dial toll free 1-866-966-1396; 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 15 November 2018. 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 4092846.

Forward-looking Statements

This communication contains forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results and future events to differ materially from Interxion’s expectations include, but are not limited to, the difficulty of reducing operating expenses in the short term, the inability to utilise the capacity of newly planned data centres and data centre expansions, significant competition, the cost and supply of electrical power, data centre industry over-capacity, performance under service level agreements, delays in remediating the material weakness in internal control over financial reporting and/or making disclosure controls and procedure 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 report.

 

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Non-IFRS Financial Measures

Included in these materials are certain non-IFRS financial measures, which are measures of our financial performance that are not calculated and presented in accordance with IFRS, within the meaning of applicable SEC rules. These measures are as follows: (i) Adjusted EBITDA; (ii) Recurring revenue; (iii) Revenue on a constant currency basis; (iv) Adjusted net income; (v) Adjusted basic earnings per share; (vi) Adjusted diluted earnings per share and (vii) Cash generated from operations.

Other companies may present Adjusted EBITDA, 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. Each of these measures are not measures of financial performance under IFRS and should not be considered as an alternative to operating income or as a measure of liquidity or an alternative to Profit for the period attributable to shareholders (“net income”) as indicators of our operating performance or any other measure of performance implemented in accordance with IFRS.

Adjusted EBITDA, Recurring revenue and Revenue on a constant currency basis

We define Adjusted EBITDA as Operating income adjusted for 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 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 recognised 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 recognised in the period in which such gains or losses are incurred. We exclude these effects because we believe they are not reflective of our on-going operating performance.

 

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Adjustments related to terminated and unused data centre sites – these gains and losses relate to historical leases entered into for certain brownfield sites, with the intention of developing data centres, which were never developed and for which management has no intention of developing into data centres. We believe the impact of gains and losses related to unused data centres are not reflective of our business activities and our on-going operating performance.

In certain circumstances, we may also adjust for other items that management believes are not representative of our current on-going performance. Examples include: adjustments for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses.

We define Recurring revenue as revenue incurred from colocation and associated power charges, office space, amortised set-up fees, cross-connects and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties, excluding rents received for the sublease of unused sites.

We believe Adjusted EBITDA and Recurring revenue provide useful supplemental information to investors regarding our on-going operational performance. These measures help us and our investors evaluate the on-going operating performance of the business after removing the impact of our capital structure (primarily interest expense) and our asset base (primarily depreciation and amortisation). Management believes that the presentation of Adjusted EBITDA, when combined with the primary IFRS presentation of net income, provides a more complete analysis of our operating performance. Management also believes the use of Adjusted EBITDA facilitates comparisons between us and other data centre operators (including other data centre operators that are REITs) and other infrastructure-based businesses. Adjusted EBITDA is also a relevant measure used in the financial covenants of our revolving credit facility and our 4.75% Senior Notes due 2025.

 

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Press Release, 1 November 2018

 

A reconciliation from net income to Adjusted EBITDA is provided in the tables attached to this press release. Adjusted EBITDA 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 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 acquisitions and currency exchange rates.

Adjusted net income, Adjusted basic earnings per share and Adjusted diluted earnings per share

We define Adjusted net income as net income adjusted for the following items and the related income tax effect, which may occur in any period, and which management believes are not reflective of our operating performance:

 

   

Income or expense related to the evaluation and execution of potential mergers or acquisitions (“M&A”) – under IFRS, gains and losses associated with M&A activity are recognised in the period in which such gains or losses are incurred. We exclude these effects because we believe they are not reflective of our on-going operating performance.

 

   

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

 

   

Adjustments related to capitalised interest – under IFRS, we are required to calculate and capitalise interest allocated to the investment in data centres and exclude it from net income. We believe that reversing the impact of capitalised interest provides information about the impact of the total interest costs and facilitates comparisons with other data centre operators.

 

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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.

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 the tables attached to this press release.

Adjusted basic earnings per share and Adjusted diluted earnings per share amounts are determined on Adjusted net income.

Cash generated from operations

Cash generated from operations is defined as net cash flows from operating activities, excluding interest and corporate income tax payments and receipts. Management 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.

Management’s outlook for 2018 included in this press release includes a range for expected Adjusted EBITDA, a non-IFRS financial measure, which excludes items that management believes are not representative of our operating performance. These items include, but are not limited to, depreciation and amortisation, share-based payments, income or expense related to the evaluation and execution of potential mergers or acquisitions, adjustments related to terminated and unused data centre sites, and other

 

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significant items that currently cannot be predicted. The exact amount of these items is not currently determinable but may be significant. Accordingly, the company is unable to provide equivalent reconciliations from the corresponding forward-looking IFRS measures to expected Adjusted EBITDA.

-ENDS-

About Interxion

Interxion (NYSE: INXN) is a leading provider of carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through more than 50 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

 

1 

Recurring revenue is revenue incurred from colocation and associated power charges, office space, amortised set-up fees, cross-connects and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties, excluding rents received for the sublease of unused sites.

2 

Adjusted net income (or ‘Adjusted earnings’) and Adjusted EBITDA are non-IFRS figures intended to adjust for certain items and are not measures of financial performance under IFRS. Complete definitions can be found in the “Non-IFRS Financial Measures” section in this press release. Reconciliations of net income to Adjusted EBITDA and net income to Adjusted net income can be found in the financial tables later in this press release.

3 

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

 

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4 

We present constant currency information to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency rate fluctuations. For purposes of calculating Revenue on a constant currency basis, current and comparative prior period results for entities reporting in currencies other than Euro are converted into Euro using the average exchange rates from the prior period rather than the actual exchange rates in effect during the current period. The reconciliation of total revenue growth to total revenue growth on a constant currency basis, is as follows:

 

Three months ended 30 September 2018

   Year-on-year     Sequential  

Reported total revenue growth

     14.1     2.4

Add back: impact of foreign currency translation

     0.4     0.1
  

 

 

   

 

 

 

Total revenue growth on a constant currency basis

     14.5     2.5
  

 

 

   

 

 

 

Percentages may not sum due to rounding.

 

5 

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

6 

Starting from the end of 1Q 2018, the number of square metres includes 2,300 sqm of equipped space and 1,300 sqm of revenue generating space from Interxion Science Park. The number of square metres in 3Q 2017 excludes the impact of Interxion Science Park.

 

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INTERXION HOLDING NV

CONDENSED CONSOLIDATED INCOME STATEMENTS

(in €’000 – except per share data and where stated otherwise)

(unaudited)

 

     Three Months ended     Nine Months ended  
     Sep-30
2018
    Sep-30
2017(a)
    Sep-30
2018
    Sep-30
2017(a)
 

Revenue

     142,191       124,647       414,851       359,420  

Cost of sales

     (55,852     (49,608     (162,250     (141,628
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross Profit

     86,339       75,039       252,601       217,792  

Other income

     —         —         86       27  

Sales and marketing costs

     (8,710     (8,247     (27,019     (24,458

General and administrative costs

     (50,552     (42,419     (145,447     (120,841
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     27,077       24,373       80,221       72,520  

Net finance expense

     (11,732     (10,833     (46,031     (32,040
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before income taxes

     15,345       13,540       34,190       40,480  

Income tax expense

     (4,445     (4,131     (11,052     (11,158
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,900       9,409       23,138       29,322  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share(b): (€)

     0.15       0.13       0.32       0.41  

Diluted earnings per share(c): (€)

     0.15       0.13       0.32       0.41  

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

     71,673       71,327       71,673       71,327  

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

     71,642       71,195       71,518       71,004  

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

     72,091       71,848       71,950       71,655  
                 As at  

Capacity metrics

               Sep-30
2018
    Sep-30
2017
 

Equipped space (in square meters)(d)

         140,300       118,900  

Revenue generating space (in square meters)(d)

         111,200       97,100  

Utilisation rate

         79     82

 

(a)

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

(b)

Basic earnings per share are calculated as net income divided by the weighted average number of shares for Basic EPS.

(c)

Diluted earnings per share are calculated as net income divided by the weighted average number of shares for Diluted EPS.

(d)

Starting from the end of 1Q 2018, the number of square metres includes 2,300 sqm of equipped space and 1,300 sqm of revenue generating space from Interxion Science Park. The number of square metres in 3Q 2017 excludes the impact of Interxion Science Park.

 

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INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: SEGMENT INFORMATION

(in €’000 – except where stated otherwise)

(unaudited)

 

     Three Months ended     Nine Months ended  
     Sep-30
2018
    Sep-30
2017(a)
    Sep-30
2018
    Sep-30
2017(a)
 

Consolidated

        

Recurring revenue

     134,754       117,392       393,425       339,094  

Non-recurring revenue

     7,437       7,255       21,426       20,326  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     142,191       124,647       414,851       359,420  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,900       9,409       23,138       29,322  

Net income margin

     7.7     7.5     5.6     8.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     27,077       24,373       80,221       72,520  

Operating income margin

     19.0     19.6     19.3     20.2
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     65,783       56,200       190,089       161,850  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     60.7     60.2     60.9     60.6

Adjusted EBITDA margin

     46.3     45.1     45.8     45.0

Total assets

     2,223,963       1,620,036       2,223,963       1,620,036  

Total liabilities

     1,593,991       1,034,037       1,593,991       1,034,037  

Capital expenditure, including intangible assets(b)

     (103,185     (75,158     (319,894     (186,356

France, Germany, the Netherlands, and the UK

        

Recurring revenue

     89,178       76,554       259,949       220,736  

Non-recurring revenue

     4,409       4,279       13,062       12,348  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     93,587       80,833       273,011       233,084  

Operating income

     30,367       24,186       88,314       72,956  

Operating income margin

     32.4     29.9     32.3     31.3
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     51,847       43,414       151,214       126,697  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     61.9     61.0     62.1     61.6

Adjusted EBITDA margin

     55.4     53.7     55.4     54.4

Total assets

     1,425,769       1,156,329       1,425,769       1,156,329  

Total liabilities

     282,129       242,646       282,129       242,646  

Capital expenditure, including intangible assets(b)

     (80,066     (51,593     (233,196     (127,412

Rest of Europe

        

Recurring revenue

     45,576       40,838       133,476       118,358  

Non-recurring revenue

     3,028       2,976       8,364       7,978  
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     48,604       43,814       141,840       126,336  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     17,993       18,315       56,231       51,467  

Operating income margin

     37.0     41.8     39.6     40.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     28,690       25,914       83,432       73,610  
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     66.4     65.8     66.3     65.9

Adjusted EBITDA margin

     59.0     59.1     58.8     58.3

Total assets

     464,250       388,447       464,250       388,447  

Total liabilities

     92,088       79,875       92,088       79,875  

Capital expenditure, including intangible assets(b)

     (20,726     (21,243     (73,198     (51,095

Corporate and other

        

Operating income

     (21,283     (18,128     (64,324     (51,903
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (14,754     (13,128     (44,557     (38,457
  

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

     333,944       75,260       333,944       75,260  

Total liabilities

     1,219,774       711,516       1,219,774       711,516  

Capital expenditure, including intangible assets(b)

     (2,393     (2,322     (13,500     (7,849

 

(a)

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

(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.

 

14


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED EBITDA RECONCILIATION

(in €’000 – except where stated otherwise)

(unaudited)

 

     Three Months ended     Nine Months ended  
     Sep-30
2018
    Sep-30
2017(a)
    Sep-30
2018
    Sep-30
2017(a)
 

Reconciliation to Adjusted EBITDA

        

Consolidated

        

Net income

     10,900       9,409       23,138       29,322  

Income tax expense

     4,445       4,131       11,052       11,158  
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before taxation

     15,345       13,540       34,190       40,480  

Net finance expense

     11,732       10,833       46,031       32,040  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     27,077       24,373       80,221       72,520  

Depreciation and amortisation

     32,885       27,790       94,635       79,183  

Share-based payments

     3,942       2,404       11,192       7,213  

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

        

M&A transaction costs(b)

     689       1,633       2,937       2,961  

Re-assessment of indirect taxes(c)

     1,190       —         1,190       —    

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

     —         —         (86     (27
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(e)

     65,783       56,200       190,089       161,850  
  

 

 

   

 

 

   

 

 

   

 

 

 

France, Germany, the Netherlands, and the UK

        

Operating income

     30,367       24,186       88,314       72,956  

Depreciation and amortisation

     21,173       18,788       62,075       52,783  

Share-based payments

     307       440       911       985  

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

     —         —         (86     (27
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(e)

     51,847       43,414       151,214       126,697  
  

 

 

   

 

 

   

 

 

   

 

 

 

Rest of Europe

        

Operating income

     17,993       18,315       56,231       51,467  

Depreciation and amortisation

     9,252       7,475       25,227       21,819  

Share-based payments

     255       124       784       324  

Re-assessment of indirect taxes(c)

     1,190       —         1,190       —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(e)

     28,690       25,914       83,432       73,610  
  

 

 

   

 

 

   

 

 

   

 

 

 

Corporate and Other

        

Operating income

     (21,283     (18,128     (64,324     (51,903

Depreciation and amortisation

     2,460       1,527       7,333       4,581  

Share-based payments

     3,380       1,840       9,497       5,904  

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

        

M&A transaction costs(b)

     689       1,633       2,937       2,961  
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA(e)

     (14,754     (13,128     (44,557     (38,457
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

(b)

“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”.

(c)

This re-assessment relates to years prior to 2018 and is therefore not representative of our current on-going business.

(d)

“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”.

(e)

“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.

 

15


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED BALANCE SHEET

(in €’000 – except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30
2018
    Dec-31
2017
 

Non-current assets

    

Property, plant and equipment

     1,580,002       1,342,471  

Intangible assets

     61,018       60,593  

Goodwill

     38,900       38,900  

Deferred tax assets

     30,362       24,470  

Other investments

     6,689       3,693  

Other non-current assets

     19,248       13,674  
  

 

 

   

 

 

 
     1,736,219       1,483,801  

Current assets

    

Trade receivables and other current assets

     197,884       179,786  

Cash and cash equivalents

     289,860       38,484  
  

 

 

   

 

 

 
     487,744       218,270  
  

 

 

   

 

 

 

Total assets

     2,223,963       1,702,071  
  

 

 

   

 

 

 

Shareholders’ equity

    

Share capital

     7,167       7,141  

Share premium

     551,424       539,448  

Foreign currency translation reserve

     2,194       2,948  

Hedging reserve, net of tax

     (156     (169

Accumulated profit

     69,343       47,360  
  

 

 

   

 

 

 
     629,972       596,728  

Non-current liabilities

    

Other non-current liabilities

     23,879       15,080  

Deferred tax liabilities

     24,765       21,336  

Borrowings

     1,287,192       724,052  
  

 

 

   

 

 

 
     1,335,836       760,468  

Current liabilities

    

Trade payables and other current liabilities

     245,995       229,878  

Income tax liabilities

     7,281       6,237  

Borrowings

     4,879       108,760  
  

 

 

   

 

 

 
     258,155       344,875  
  

 

 

   

 

 

 

Total liabilities

     1,593,991       1,105,343  
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     2,223,963       1,702,071  
  

 

 

   

 

 

 

 

16


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS

(in €’000 – except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30
2018
    Dec-31
2017
 

Borrowings net of cash and cash equivalents

    

Cash and cash equivalents

     289,860       38,484  
  

 

 

   

 

 

 

4.75% Senior Notes due 2025(a)

     1,187,805       —    

6.00% Senior Secured Notes due 2020(b)

     —         628,141  

Mortgages

     53,635       53,640  

Financial leases

     50,631       51,127  

Borrowings under our Revolving Facilities

     —         99,904  
  

 

 

   

 

 

 

Borrowings excluding Revolving Facility deferred financing costs

     1,292,071       832,812  
  

 

 

   

 

 

 

Revolving Facility deferred financing costs(c)

     (2,414     (204
  

 

 

   

 

 

 

Total borrowings

     1,289,657       832,608  
  

 

 

   

 

 

 

Borrowings net of cash and cash equivalents

     999,797       794,124  
  

 

 

   

 

 

 

 

(a)

€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)

€625 million 6.00% Senior Secured Notes due 2020 included a premium on additional issuances and are shown after deducting underwriting discounts and commissions, offering fees and expenses. The Senior Secured Notes were redeemed with a portion of the proceeds from the June 2018 issuance of the 4.75% Senior Notes due 2025.

(c)

Deferred financing costs of €2.4 million as of 30 September 2018 were incurred in connection with the €200 million Senior Unsecured Revolving Credit Facility, entered into on 18 June 2018. Deferred financing costs of €0.2 million as of 31 December 2017 were incurred in connection with the €100 million Senior Secured Revolving Facility, which was repaid in 2018.

 

17


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in €’000 – except where stated otherwise)

(unaudited)

 

     Three Months ended     Nine Months ended  
     Sep-30
2018
    Sep-30
2017(a)
    Sep-30
2018
    Sep-30
2017(a)
 

Net income

     10,900       9,409       23,138       29,322  

Depreciation and amortisation

     32,885       27,790       94,635       79,183  

Share-based payments

     3,620       2,096       10,482       5,906  

Net finance expense

     11,732       10,833       46,031       32,040  

Income tax expense

     4,445       4,131       11,052       11,158  
  

 

 

   

 

 

   

 

 

   

 

 

 
     63,582       54,259       185,338       157,609  

Movements in trade receivables and other assets

     (193     (266     (20,246     (13,654

Movements in trade payables and other liabilities

     (2,510     1,212       8,976       14,793  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated from / (used in) operations

     60,879       55,205       174,068       158,748  

Interest and fees paid(b)

     (3,014     (19,476     (41,846     (40,389

Interest received

     2       193       2       140  

Income tax paid

     (4,005     (3,439     (12,171     (8,744
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) operating activities

     53,862       32,483       120,053       109,755  

Cash flows from / (used in) investing activities

        

Purchase of property, plant and equipment

     (102,143     (73,708     (313,894     (180,030

Financial investments - deposits

     (13     30       267       (336

Acquisition InterXion Science Park B.V.

     —         —         —         (77,517

Purchase of intangible assets

     (1,042     (1,450     (6,000     (6,326

Loans provided

     (857     —         (2,108     (1,341
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) investing activities

     (104,055     (75,128     (321,735     (265,550

Cash flows from / (used in) financing activities

        

Proceeds from exercised options

     262       2,682       1,520       6,771  

Proceeds from mortgages

     5,970       —         5,969       —    

Repayment of mortgages

     (548     (624     (6,044     (2,045

Proceeds from revolving credit facilities

     —         30,000       148,814       104,775  

Repayment of revolving facilities

     —         —         (250,724     (30,000

Proceeds 4.75% Senior Notes

     204,800       —         1,194,800       —    

Repayment 6.00% Senior Secured Notes

     —         —         (634,375     —    

Interest received at issuance of additional notes

     2,428       —         2,428       —    

Transaction costs 4.75% Senior Notes

     (5,504     —         (6,696     —    

Transaction costs 2018 revolving credit facility

     (926     —         (2,562     —    
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) financing activities

     206,482       32,058       453,130       79,501  

Effect of exchange rate changes on cash

     8       (452     (72     (1,395
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase / (decrease) in cash and cash equivalents

     156,297       (11,039     251,376       (77,689

Cash and cash equivalents, beginning of period

     133,563       49,243       38,484       115,893  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

     289,860       38,204       289,860       38,204  
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

(b)

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

 

18


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED NET INCOME RECONCILIATION

(in €’000 – except per share data and where stated otherwise)

(unaudited)

 

     Three Months ended     Nine Months ended  
     Sep-30
2018
    Sep-30
2017(a)
    Sep-30
2018
    Sep-30
2017(a)
 

Net income - as reported

     10,900       9,409       23,138       29,322  

Add back

        

+ Charges related to termination of financing arrangements(b)

     —         —         11,171       —    

+ Re-assessment of indirect taxes(c)

     1,734       —         1,734       —    

+ M&A transaction costs

     689       1,633       2,937       2,961  
  

 

 

   

 

 

   

 

 

   

 

 

 
     2,423       1,633       15,842       2,961  

Reverse

        

- Interest capitalised

     (1,541     (840     (3,606     (2,605
  

 

 

   

 

 

   

 

 

   

 

 

 
     (1,541     (840     (3,606     (2,605

Tax effect of above add-backs & reversals

     (168     (198     (3,007     (89
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net income

     11,614       10,004       32,367       29,589  
  

 

 

   

 

 

   

 

 

   

 

 

 

Reported basic EPS: (€)

     0.15       0.13       0.32       0.41  

Reported diluted EPS: (€)

     0.15       0.13       0.32       0.41  

Adjusted basic EPS: (€)

     0.16       0.14       0.45       0.42  

Adjusted diluted EPS: (€)

     0.16       0.14       0.45       0.41  

 

(a)

Certain comparative figures for the three months and nine months ended 30 September 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018.

(b)

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

(c)

This re-assessment relates to years prior to 2018 and is therefore not representative of our current on-going business.

 

19


LOGO

Press Release, 1 November 2018

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 1 November 2018

with Target Open Dates after 30 June 2018

 

Market

  

Project

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

Schedule

Amsterdam

   AMS8: Phases 3 - 6      63        5,400      3Q 2018 - 1Q 2019(c)

Amsterdam

   AMS9: Phase 2      8        500      3Q 2018(d)

Amsterdam

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

Copenhagen

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

Dusseldorf

   DUS2: Phase 3      5        500      2Q 2019

Frankfurt

   FRA6: Phase 6      5        400      3Q 2018 - 1Q 2019(g)

Frankfurt

   FRA13: Phases 1 - 2 New Build      90        4,900      3Q 2018 - 1Q 2019(h)

Frankfurt

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

Frankfurt

   FRA15: Phases 1 New Build      108        2,300      1Q 2020

London

   LON3: New Build      35        1,800      4Q 2018 - 1Q 2019(j)

Madrid

   MAD3: New Build      44        2,500      2Q 2019(k)

Marseille

   MRS2: Phase 2 - 4      72        4,200      2Q 2018 - 3Q 2019(l)

Marseille

   MRS3: Phase 1 New Build      79        2,300      4Q 2019

Paris

   PAR7.2: Phase B (cont.) - C      47        2,500      2Q 2018 -1Q 2019(m)

Stockholm

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

Vienna

   VIE2: Phase 7 - 9      94        4,300      4Q 2017 - 4Q 2020(o)

Zurich

   ZUR1: Phase 6      10        300      1Q 2019

Total

      968        48,700     

 

(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 sum 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)

AMS8: Phases 3 and 4 (2,800 sqm total) opened in 3Q 2018; phases 5 and 6 (1,300 sqm each) are scheduled to open in 4Q 2018 and 1Q 2019.

(d)

AMS9: Phase 2 (500 sqm) opened in 3Q 2018.

(e)

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.

(f)

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

(g)

FRA6: Phase 6 part 1 (200 sqm) opened in 3Q 2018; the rest is scheduled to open in 1Q 2019.

(h)

FRA13: Phase 1 (2,300 sqm) opened in 3Q 2018; phase 2 (2,600 square metres) is scheduled to open in 1Q 2019.

(i)

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.

(j)

LON3: 900 sqm is scheduled to open in 4Q 2018; another 900 square metres is scheduled to open in 1Q 2019.

(k)

MAD3: Capex total for MAD3 include land purchase price.

(l)

MRS2 Phase 2 (700 sqm) opened in 2Q 2018 and Q3; and Phases 3 and 4 (3,500 sqm total) are scheduled to open in 2Q 2019 and 3Q 2019.

(m)

PAR7.2: Phase B (cont.) (500 sqm) opened in 2Q 2018; Phase C (2,000 sqm) is scheduled to open in 1Q 2019.

(n)

STO5: Phases 2 and 3 - 100 sqm opened in 1Q 2018; 300 sqm opened in 2Q 2018; 800 sqm is scheduled to open in 1Q 2019.

(o)

VIE2: 2,300 sqm opened in 4Q 2017 through 3Q 2018; the remaining 2,000 sqms are scheduled to open in 4Q 2018 - 4Q 2020.

 

20

EX-99.2

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3Q 2018 Earnings Conference Call NYSE: INXN 1 November 2018 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, Recurring revenue, Adjusted net income and Adjusted diluted earnings per share. For definitions of these measures and a reconciliation of these measures to the nearest IFRS measure, please refer to the appendix and the tables attached to our 3Q18 press release. The non-IFRS measure Revenue growth on a constant currency basis is reconciled in the footnotes within this document. Certain financial and other information presented in this document has not been audited or reviewed by our independent auditors. Certain numerical, financial data, other amounts and percentages in this document may not sum due to rounding. In addition, certain figures in this document have been rounded to the nearest whole number. Disclaimer


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Strategic & Operational Highlights David Ruberg – Chief Executive Officer


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Financial Execution Total revenue up 14% Y/Y Recurring revenue increase by 15% Y/Y Adjusted EBITDA up 17% Y/Y Adjusted EBITDA margin at 46.3% Capital expenditure of €103 million including intangibles Bond tap completed resulting in €204 million net proceeds Operational Execution Added 7,700 sqm of new equipped space: Opened new FRA13 data centre Expanded AMS8, AMS9, FRA6, MRS2, VIE2 and ZUR1 Installed 5,000 sqm of revenue generating space Utilisation rate of 79% Expansions announced in Amsterdam, Marseille, Frankfurt, Dusseldorf and Zurich 3Q 2018 Performance Demand Continues to Drive Solid Growth and Capacity Additions


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3Q Revenue €142.2 million Up 14% Y/Y and 2% Q/Q 3Q Recurring revenue €134.8 million Up 15% Y/Y and 2% Q/Q 95% of total revenue 3Q Adjusted EBITDA €65.8 million Up 17% Y/Y and 4% Q/Q 3Q Adjusted EBITDA margin 46.3% 3Q 2018 Financial Highlights Adjusted EBITDA & Margin (€ millions) 45.5% 46.3% Margin 45.1% Revenue (€ millions) Non- recurring revenue Recurring revenue 15% Recurring Revenue Growth and 17% Adjusted EBITDA Growth Y/Y in 3Q 2018 124.6 129.9 45.5% 133.8 45.7% 138.8 142.2


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Equipped space of 140,300 sqm 7,700 sqm added in the quarter Revenue generating space of 111,200 sqm 5,000 sqm installed in the quarter Utilisation rate of 79% 3Q 2018 Operational Highlights Equipped & Revenue Generating Space(1) (1,000’s sqm) Available Equipped space Revenue generating space 81% 79% 82% Utilisation 81% 118.9 Strong Growth in Revenue Generating Space 122.5 80% Starting from the end of 1Q18, totals include 2,300 sqm of equipped space and 1,300 sqm of revenue generating space from Interxion Science Park. Prior quarters exclude the impact of Interxion Science Park. 128.9 132.6 140.3


Slide 7

Capacity Expansion Across Footprint Note: Totals may not sum due to rounding. As of 1 November 2018, 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 30 June 2018(1) Market Data Centre Project Project CapEx (€ millions) Equipped Space (sqm) Schedule Project Opened(1) Amsterdam AMS8 Phases 3-6 63 5,400 2,800 3Q18 – 1Q19 Amsterdam AMS9 Phase 2 8 500 500 3Q18 Amsterdam AMS10 Phases 1-3 195 9,500 0 4Q19 – 3Q20 Copenhagen CPH2 Phases 3-5 18 1,500 900 2Q18 – 2Q19 Dusseldorf DUS2 Phase 3 5 500 0 2Q19 Frankfurt FRA6 Phase 6 5 400 200 3Q18 – 1Q19 Frankfurt FRA13 Phases 1-2 New Build 90 4,900 2,300 3Q18 – 1Q19 Frankfurt FRA14 Phases 1-2 New Build 76 4,600 0 3Q19 – 4Q19 Frankfurt FRA15 Phases 1 New Build 108 2,300 0 1Q20 London LON3 New Build 35 1,800 0 4Q18 – 1Q19 Madrid MAD3 New Build 44 2,500 0 2Q19 Marseille MRS2 Phases 2-4 72 4,200 700 2Q18 – 3Q19 Marseille MRS3 Phases 1 New Build 79 2,300 0 4Q19 Paris PAR7.2 Phase B (cont.) & C 47 2,500 500 2Q18 – 1Q19 Stockholm STO5 Phases 2-3 19 1,200 400 1Q18 – 1Q19 Vienna VIE2 Phases 7-9 94 4,300 2,300 4Q17 – 4Q20 Zurich ZUR1 Phase 6 10 300 0 1Q19 Capacity additions, completed in 3Q 2018, include: AMS8: 2,800 sqm FRA13: 2,300 sqm VIE2: 1,200 sqm AMS9: 400 sqm New expansions announced since 2Q 2018: AMS10: 2,700 sqm FRA15: 2,300 sqm MRS3: 2,300 sqm MRS2: 1,600 sqm Expansions totaling over 38,000 sqm scheduled to open post Q3 2018 Aggregate capacity expansion of over 25% MRS2: 400 sqm ZUR1: 200 sqm FRA6: 200 sqm DUS2 500 sqm FRA6 400 sqm ZUR1 300 sqm


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35% 33% 32% Communities of Interest Deliver Significant Customer Value Connectivity Platforms Enterprises


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Financial Highlights Richard Rowson – Vice President Finance


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3Q 2018 Results Recurring revenue, Non-recurring revenue, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, and Adjusted earnings per share (diluted) are non-IFRS figures intended to adjust for certain items. Full definitions can be found in the “Definitions” section of this presentation. Reconciliations of net income to Adjusted EBITDA can be found in the financial tables later in the appendix of this presentation. Reconciliations of net income to Adjusted net income can be found in the tables attached to our 3Q18 press release. Net income and EPS figures for 3Q17 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018. Net income and EPS comparisons impacted by €11.2 million charge related to refinancing in 2Q 2018. € millions (except per share amounts) 3Q 2017 2Q 2018 3Q 2018 3Q 2018 vs. 3Q 2017 3Q 2018 vs. 2Q 2018 Recurring revenue(1) 117.4 131.7 134.8 15% 2% Non-recurring revenue(1) 7.3 7.1 7.4 3% 5% Revenue 124.6 138.8 142.2 14% 2% Gross profit 75.0 85.1 86.3 15% 1% Gross profit margin 60.2% 61.3% 60.7% 50 bps (60 bps) Adjusted EBITDA(1) 56.2 63.4 65.8 17% 4% Adjusted EBITDA(1) margin 45.1% 45.7% 46.3% 120 bps 60 bps Net income(2)(3) 9.4 0.6 10.9 16% 1,774% EPS (diluted)(2)(3) €0.13 €0.01 €0.15 15% 1,770% Adjusted net income(1) 10.0 8.9 11.6 16% 31% Adjusted EPS (diluted)(1) €0.14 €0.12 €0.16 16% 31% Revenue growth of 14% Y/Y and 2% Q/Q Revenue on an organic constant currency basis up 14% Y/Y and 2% Q/Q GBP approximately 8% of 3Q 2018 total revenue Recurring Revenue up 15% Y/Y and 2% Q/Q ARPU at €413 Gross profit up 15% Y/Y and 1% Q/Q Adjusted EBITDA up 17% Y/Y and 4% Q/Q Adjusted EBITDA margin at 46.3%, up 120 bps Y/Y


Slide 11

3Q 2018 Reporting Segment Analysis Revenue up 11% Y/Y, 3% Q/Q 12% Y/Y and 2% Q/Q constant currency Recurring revenue up 12% Y/Y, 3% Q/Q Adjusted EBITDA up 11% Y/Y, 6% Q/Q Strength in Austria, Denmark and Switzerland Note: This analysis excludes “Corporate & Other” segment. Totals may not sum due to rounding. Big 4: Constant currency revenue growth Y/Y represents total revenue growth adjusted for (0.1%) FX impact. Constant currency revenue growth Q/Q represents total revenue growth adjusted for 0.2% FX impact. ROE: Constant currency revenue growth Y/Y represents total revenue growth adjusted for: + 1.3% FX impact. Constant currency revenue growth Q/Q represents total revenue growth adjusted for (0.3%) FX impact. Revenue up 16% Y/Y, 2% Q/Q 16% Y/Y and 2% Q/Q constant currency Recurring revenue up 16% Y/Y, 2% Q/Q Adjusted EBITDA up 19% Y/Y, 1% Q/Q Strength in Germany and France Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) 53.7% 56.2% 54.6% 59.1% 58.8% 60.0% France, Germany, Netherlands & UK 56.2% 57.4% 55.4% 59.0% Rest of Europe (1) (2) 16% Recurring Revenue and 19% Adjusted EBITDA Y/Y Growth in Big 4


Slide 12

Disciplined Investments(1) 81% 81% 80% SQM Utilisation 82% Capital Expenditures Driven By Strong Demand 78% of capex invested in Big 4 97% of capex invested in discretionary expansion projects Maintenance capex at 2% of total revenue Inclusive of Intangibles. Totals may not sum due to rounding. 79%


Slide 13

Financing during 3Q 2018: Issued €200 million of additional 4.75% Unsecured Senior Notes €200 million RCF undrawn 5.0% blended cost of debt 3Q 2018 LTM Cash ROGIC 10% Leverage: 5.2x gross leverage(2) 4.1x net leverage(3) Enhanced Balance Sheet Total Borrowings = 4.75% Senior Notes due 2025 (2017: 6.00% Senior Secured Notes due 2020), shown including the impact of premiums, commissions, offering fees and expenses + Mortgages + Financial Leases + Revolving facilities borrowings + Other Borrowings – Revolving facility deferred financing costs. Gross Leverage Ratio =  (4.75% Senior Notes due 2025 (2017: 6.00% Senior Secured Notes due 2020) at face value + Mortgages + Financial Leases + Revolving facilities borrowings + Other Borrowings)  /  LTM Adjusted EBITDA. Net Leverage Ratio = (4.75% Senior Notes due 2025 (2017: 6.00% Senior Secured Notes due 2020) at face value + Mortgages + Financial Leases + Revolving facilities balance + Other Borrowings – Cash & Cash Equivalents)  /  LTM Adjusted EBITDA. € millions 30-Sep-18 31-Dec-17 Cash & Cash Equivalents 289.9 38.5 Total Borrowings(1) 1,289.7 832.6 Shareholders Equity 630.0 596.7 Gross Leverage Ratio(2) 5.2x 3.8x Net Leverage Ratio(3) 4.1x 3.6x Increased Liquidity to Support Growing Expansion Program


Slide 14

37 fully built-out data centres(1)(2) Space fully equipped Some power upgrades yet to come As of 1 January 2017 91,500 sqm of equipped space 83% utilisation 8% LTM constant currency recurring revenue growth 23% cash return Disciplined Investments Drive Strong Returns Q3 2018 LTM Returns (€ millions) Attractive Cash Returns from Fully Built-Out Data Centres(1) Fully Built-Out Data Centre: a data centre for which materially all equippable space is equipped as at 1 January 2017. However, future power upgrades can further increase the capacity of a fully built out data centre. 37 Fully Built-Out Data Centres as at 1 January 2017: AMS1, AMS3, AMS4, AMS5, AMS6, AMS7, BRU1, CPH1, DUB1, DUB2, FRA1, FRA2, FRA3, FRA4, FRA5, FRA6, FRA7, FRA8, FRA9, FRA10, DUS1, DUS2, 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 September 2018.


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


Slide 16

Customer IT Journey IT Rationalisation Cloud Migration Digital Transformation “Laggards” “Mainstream” “Early Adopters” “Visionaries” Cost Efficiencies Risk Mitigation Selective IT Outsourcing Shift from Capex to Opex Productivity (Developers & End-users) Workload Placement for TCO/Performance ‘Intelligent’ Edge Business Process Innovation: IoT, AI, VR Architectural Optimisation (Apps + Infrastructure) “Born Digital” Platforms


Slide 17

Opportunities for Highly Connected Data Centres IT Rationalisation Cloud Migration Digital Transformation “Laggards” “Mainstream” “Early Adopters” “Visionaries” Market Opportunity = Volume of Data Traffic Colocated Hybrid Cloud Colocated Hybrid Cloud + Colocated Edge “Born Digital” Platforms


Slide 18

Guidance for 2018 Revenue €553m – €569m Adjusted EBITDA(1) €250m – €260m Capital Expenditures €425m – €450m 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.


Slide 19

Questions & Answers


Slide 20

Appendix


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A leading carrier & cloud neutral data centre operator across Europe Interxion Overview 51 Data Centres in Operation 13 Cities 11 Countries 700+ Connectivity Providers 20+ Internet Exchanges 500+ Platform Providers 2,000+ Customers 700+ Employees Note: Figures as of 30 September 2018.


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Track Record Of Execution Note: Includes Interxion Science Park as of February 24, 2017. CAGR calculated as 2017 vs 2010. Adjusted EBITDA margin calculated as Adjusted EBITDA divided by Revenue. CAGR(1) = 13% CAGR(1) = 16% 38% 40% 42% 43% 43% 44% 45% 45% 45% 46% 46% 21% 17% 13% 11% 11% 13% 9% 16% 17% 15% 14% 48 Consecutive Quarters of Revenue and Adjusted EBITDA Growth YOY Growth 26% 23% 18% 15% 11% 17% 11% 16% 19% 17% 17% Adj. EBITDA Margin(2) YOY Growth


Slide 23

Illustrative ARPU Development ARPU increases over time as IT workloads increase: Customers initially contract for space, connectivity and modest power reservation(1) As workloads increase, larger power reservation fees and cross-connects are required and energy consumption increases Revenue grows from space, cross-connects, power reservation and energy consumption over time As data centres fill with customers: Revenue mix initially tilted toward space As space becomes more fully utilised, revenue growth from power reservation and energy consumption can continue Power reservation is the fee for infrastructure power (cooling, power distribution, etc.). Customer ARPU Development Data Centre Recurring Revenue Development Power Reservation & Energy Consumption Cross-Connects Revenue Develops Over Time Driven by Power Reservation and Energy Consumption Space Installed


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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 and €2.4 million of M&A transaction cost in 1Q17, 2Q17, 3Q17, 4Q17, 1Q18, 2Q18, 3Q18 and full year 2016 respectively. Quarterly and annual net income results for 2016 and 2017 are restated. For further details, see Note 2 and Note 29 of our audited consolidated financial statements in the 2017 annual report (Form 20F) and Note 12 of the Interim Report for the three months and nine months period ended 30 September 2018). Includes €11.2 million of one-time charge related to termination of financing arrangements. Includes gain on sale of financial asset. € millions (except as noted) 2017 2018 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY Recurring revenue 108.3 113.4 117.4 123.4 127.0 131.7 134.8 400.0 462.5 Non-recurring revenue 5.7 7.4 7.3 6.5 6.9 7.1 7.4 21.8 26.8 Total revenue 113.9 120.8 124.6 129.9 133.8 138.8 142.2 421.8 489.3 Gross profit 69.9 72.9 75.0 81.0 81.1 85.1 86.3 259.2 298.8 Gross profit margin 61.3% 60.3% 60.2% 62.4% 60.6% 61.3% 60.7% 61.5% 61.1% Adj EBITDA 51.3 54.3 56.2 59.1 60.9 63.4 65.8 190.9 221.0 Adj EBITDA margin 45.1% 45.0% 45.1% 45.5% 45.5% 45.7% 46.3% 45.3% 45.2% 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) 38.3(1)(3) 39.1(1) CapEx paid 54.8 56.4 75.2 69.7 96.2 120.5 103.2 250.9 256.0 Expansion / upgrade 49.0 46.0 69.7 60.2 90.1 109.6 99.7 228.8 224.8 Maintenance & other 4.0 7.4 4.0 7.0 4.2 7.9 2.5 13.2 22.4 Intangibles 1.8 3.0 1.4 2.5 2.0 3.0 1.0 8.9 8.8 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) 183.4(1) 209.0(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 1,651.1 1,935.1 Gross intangible assets 113.3 114.8 114.9 117.0 119.7 122.5 123.4 42.3 117.0 Gross Goodwill 40.2 39.4 38.9 38.9 38.9 38.9 38.9 ‒ 38.9 LTM Cash ROGIC 11% 11% 11% 11% 10% 10% 10% 11% 11%


Slide 25

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 2016 2017 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY Big 4 Recurring revenue 70.0 74.2 76.6 81.6 83.5 87.3 89.2 256.0 302.3 Non-recurring revenue 3.4 4.7 4.3 3.9 4.5 4.2 4.4 13.8 16.3 Total revenue 73.4 78.9 80.8 85.6 87.9 91.5 93.6 269.8 318.6 Gross profit margin 61.9% 62.0% 61.0% 64.4% 61.1% 63.2% 61.9% 62.6% 62.4% Adj EBITDA 40.2 43.1 43.4 48.1 48.0 51.4 51.8 148.2 174.8 Adj EBITDA margin 54.7% 54.7% 53.7% 56.2% 54.6% 56.2% 55.4% 54.9% 54.9% Rest of Europe Recurring revenue 38.3 39.2 40.8 41.8 43.5 44.4 45.6 144.0 160.2 Non-recurring revenue 2.3 2.7 3.0 2.5 2.4 2.9 3.0 8.1 10.5 Total revenue 40.6 42.0 43.8 44.3 45.9 47.3 48.6 152.0 170.7 Gross profit margin 66.8% 65.2% 65.8% 66.7% 67.6% 65.0% 66.4% 65.9% 66.1% Adj EBITDA 23.7 24.0 25.9 26.1 27.6 27.2 28.7 88.2 99.7 Adj EBITDA margin 58.3% 57.3% 59.1% 58.8% 60.0% 57.4% 59.0% 58.0% 58.4% Corporate & Other Adj EBITDA (12.5) (12.8) (13.1) (15.1) (14.7) (15.1) (14.8) (45.5) (53.5)


Slide 26

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 1Q18, 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) 2016 2017 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q Equipped space 101,600 104,200 107,800 110,800 114,100 117,000 118,900 122,500 128,900 132,600 140,300 Equipped space added 400 2,600 3,600 3,000 3,300 2,900 1,900 3,600 4,000 3,700 7,700 Revenue generating space 80,400 81,600 84,100 87,200 89,800 95,000 97,100 99,800 104,100 106,200 111,200 RGS added 1,300 1,200 2,500 3,100 2,600 5,200 2,100 2,700 2,900 2,100 5,000 Recurring ARPU 406 409 402 403 405 403 401 411 412 418 413 Utilisation (%)(3) 79% 78% 78% 79% 79% 81% 82% 81% 81% 80% 79% Equipped customer power 120 123 129 131 136 142 146 160 166 169 185 Maximum equippable customer power 178 178 187 187 195 203 223 225 241 276 278 Data centres in operation 41 42 42 44 45 45 48 49 50 50 51


Slide 27

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. AMS2 exited in 1Q16. Space figures in square metres(1) 2016 2017(2) 2018E(3) 2019E(3) 2020E(3) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4QE 1QE 2QE 3QE 4QE FYE Big 4 France ‒ ‒ 800 500 1,600 1,500 100 ‒ ‒ 900 600 ‒ 2,000 1,100 2,500 2,300 ‒ Germany 1,200 1,800 2,400 ‒ ‒ ‒ 1,100 2,400 2,400 ‒ 2,400 ‒ 2,800 500 2,400 2,200 2,300 Netherlands(4) (700) ‒ ‒ 1,500 1,300 ‒ ‒ ‒ ‒ ‒ 3,200 1,300 1,300 ‒ ‒ 2,700 6,800 UK ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 900 900 ‒ ‒ ‒ ‒ Subtotal 400 1,800 3,200 2,000 3,000 1,500 1,200 2,400 2,400 800 6,200 2,200 7,000 1,600 4,900 7,200 9,100 Rest of Europe Austria ‒ ‒ 300 ‒ ‒ 1,100 ‒ 300 400 400 1,200 ‒ ‒ 400 1,000 ‒ 700 Belgium ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark ‒ 500 ‒ ‒ 300 300 ‒ ‒ ‒ 900 ‒ ‒ ‒ 600 ‒ ‒ ‒ Ireland ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ ‒ ‒ ‒ Spain ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 2,500 ‒ ‒ ‒ Sweden ‒ 200 ‒ ‒ 100 ‒ 300 200 100 300 ‒ ‒ 800 ‒ ‒ ‒ ‒ Switzerland ‒ ‒ ‒ ‒ ‒ ‒ 400 700 100 ‒ 200 ‒ 300 ‒ ‒ ‒ ‒ Subtotal ‒ 700 300 1,200 400 1,400 700 1,200 1,700 2,800 1,400 ‒ 1,100 3,500 1,000 ‒ 700 Total additional equipped space 400 2,600 3,600 3,000 3,300 2,900 1,900 3,600 4,000 3,700 7,700 2,200 8,100 5,100 5,900 7,200 9,800 17,600 sqm in 2018E 11,700 sqm in 2017 9,600 sqm in 2016 26,300 sqm in 2019E


Slide 28

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 September 2018. 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 9 33,000 24,800 5,600 2,600 Germany 16 40,600 32,500 8,000 0 Netherlands 9 45,400 28,300 12,100 4,900 UK 3 8,700 6,900 1,800 0 Subtotal 37 127,700 92,500 27,500 7,500 Rest of Europe Austria 2 13,300 11,200 2,000 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 8,200 5,700 2,500 0 Sweden 5 6,800 5,800 800 200 Switzerland 1 7,600 7,300 300 0 Subtotal 18 54,300 47,800 6,200 200 Total 55 181,900 140,300 33,700 7,700


Slide 29

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 PAR1 Leased Fully 1,400 AMS4 Leased Fully NM (4) PAR2 Leased Fully 2,900 AMS5 Leased Fully 4,300 PAR3 Owned Fully 1,900 AMS6 Owned Fully 4,400 PAR4 Leased Fully 1,300 AMS7 Finance Lease(3) Fully 7,600 PAR5 Owned Fully 4,000 AMS8 Finance Lease Expanding 8,200 AMS9 Owned Expanding 2,800 AMS10 Owned Under Construction 14,400 PAR6 Leased Fully 1,300 UK PAR7 Finance Lease (3) Expanding 9,300 LON1 Leased Fully 5,400 LON2 Leased Fully 1,500 LON3 Leased Under Construction 1,800 Germany DUS1 Leased Fully 3,300 FRA7 Leased Fully 1,500 DUS2 Leased Fully 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 Expanding 1,100 FRA5 Leased Fully 1,700 FRA13 Owned Expanding 4,900 FRA6 Leased Fully 2,600 FRA14 Owned Under Construction 4,600 ROE Austria   Spain       VIE1 Owned Fully 4,700 MAD1 Leased Fully 4,000 VIE2 Owned Expanding 8,500 MAD2 Leased Fully 1,700 MAD3 Owned Under Construction 2,500 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 DUB3 Owned Expanding 2,300 Total 181,900 Note: Totals may not sum due to rounding. Built Out Status as of 1 January 2017, consistent with slide 14. As of 30 September 2018. Purchase options have been exercised, though not yet closed. Maximum equippable space for AMS4 is included in the maximum equippable space of AMS1. Totals: # Sqm %         Owned 18 85,500 47% Finance Lease 3 25,100 14% Operating Lease 34 71,300 39% Total 55 181,900 100%


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Non-IFRS Reconciliation Note: Figures rounded to nearest net €0.1 million. Totals may not sum due to rounding. Net income and share-based payments for 2014, 2015, 2016 and 2017 are restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018. Includes €31.0 million in 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 1Q 2Q 3Q 4Q 1Q 2Q 3Q Net income(1) 14.7 25.5 31.6 6.9(2) 34.4 46.7 38.3 10.3 9.7 9.4 9.7 11.7 0.6(3) 10.9 Income tax expense / (benefit) 2.5 9.7 15.8 6.1 15.5 17.9 16.4 3.3 3.7 4.1 3.7 3.8 2.8 4.4 Profit / (loss) before taxation 17.2 35.2 47.4 13.0 49.9 64.6 54.7 13.6 13.4 13.5 13.4 15.5 3.4 15.3 Net finance expense 29.5 22.9 17.8 57.5(2) 27.9 29.0 36.3 10.3 10.9 10.8 12.3 11.4 22.9(3) 11.7 Operating profit 46.7 58.1 65.2 70.5 77.8 93.6 91.0 23.8 24.3 24.4 25.8 26.9 26.3 27.1 Depreciation, amortisation and impairments 31.1 35.6 44.0 57.6 62.2 78.3 89.8 24.2 27.2 27.8 29.1 29.6 32.2 32.9 Share-based payments(1) 1.7 2.6 5.4 4.2 7.2 9.0 7.9 2.6 2.2 2.4 2.7 3.3 3.9 3.9 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 0.8 0.6 1.6 1.6 1.2 1.0 0.7 Re-assessment of indirect taxes(4) ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1.2 Income from sub-leases on unused data centre sites (0.4) (0.4) (0.4) (0.3) (0.4) (0.4) (0.1) (0.0) ‒ ‒ (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 51.3 54.3 56.2 59.1 60.9 63.4 65.8


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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. This re-assessment relates to years prior to 2018 and is therefore not representative of our current ongoing business. Operating profit/(loss) and share-based payments for 2017 have been restated. For further details, see Note 2 and Note 29 of our 2017 Consolidated Financial Statements included on Form 20-F, filed with the SEC on 30 April 2018, and note 12 of our Condensed Consolidated Interim Financial Statements included on Form 6-K, filed with the SEC on 1 November 2018. € millions 2017 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q BIG 4 Operating profit 24.0 24.8 24.2 28.2 27.6 30.3 30.4 Depreciation, amortisation and impairments 15.9 18.1 18.8 19.9 20.1 20.8 21.2 Share-based payments 0.3 0.2 0.4 0.1 0.3 0.3 0.3 Income from 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   ROE Operating profit 16.7 16.4 18.3 18.5 19.6 18.6 18.0 Depreciation, amortisation and impairments 7.0 7.4 7.5 7.5 7.7 8.2 9.3 Share-based payments (0.0) 0.2 0.1 0.1 0.2 0.3 0.3 Re-assessment of indirect taxes(1) ‒ ‒ ‒ ‒ ‒ ‒ 1.2 Adjusted EBITDA 23.7 24.0 25.9 26.1 27.6 27.2 28.7   CORPORATE & OTHER Operating profit/(loss)(2) (16.9) (16.9) (18.1) (20.9) (20.4) (22.7) (21.3) Depreciation, amortisation and impairments 1.3 1.7 1.5 1.6 1.7 3.2 2.5 Share-based payments(2) 2.3 1.8 1.9 2.5 2.8 3.4 3.4 M&A transaction costs 0.8 0.6 1.6 1.6 1.2 1.0 0.7 Adjusted EBITDA (12.5) (12.8) (13.1) (15.1) (14.7) (15.1) (14.8)


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Adjusted EBITDA: We define Adjusted EBITDA as Operating Income adjusted for 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 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 to provisions which are not reflective of our ongoing 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 metre calculated as {reported recurring revenue in the quarter divided by 3} divided by {sum of prior and current quarter end reported revenue generating space divided by 2} Big 4: France, Germany, the Netherlands and the UK CAGR: Compound Annual Growth Rate Capital expenditures including intangible assets: Represent payments to acquire property, plant & equipment and intangible assets as recorded on our consolidated statement of cash flows as "Purchase of property, plant and equipment" and "Purchase of intangible assets”, respectively. Investments in intangibles assets include power grid rights and software development Cash generated from operations: net cash flows from operating activities, excluding interest and corporate income tax payments and receipts. Cash ROGIC: Cash Return on Gross Invested Capital (Cash ROGIC) defined as (Adjusted EBITDA less maintenance and other capex) divided by {Average of opening and closing (gross PP&E plus gross intangible assets plus gross goodwill)} 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 comprised of mainly general and administrative expenses, assets and liabilities associated with our headquarters operations, provisions for onerous contracts (relating to the discounted amount of future losses expected to be incurred in respect of unused data centre sites over the term of the relevant leases) and revenue and expenses related to those onerous contracts, loans and borrowings and related expenses and income tax assets and liabilities CDNs: Content Distribution Networks Churn: Contracted Monthly Recurring Revenue which came to an end during the month as a percentage of the total contracted Monthly Recurring Revenue at the beginning of the month. Churn is calculated as a monthly average over the last 12 months. Customer Available Power: The current installed electrical customer capacity Equipped Space: The amount of data centre space that, on the relevant date, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure LTM or Last Twelve Months: Twelve month period ended 30 September 2018, 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 relevant date SQM: Square metres Utilisation Rate: on the relevant date, Revenue Generating Space as a percentage of Equipped Space. Some Equipped Space is not fully utilised due to customers' specific requirements regarding the layout of their equipment. In practice, therefore, Utilisation Rate does not reach 100% YTM: Yield to maturity


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Interxion Leadership David Ruberg, Chief Executive Officer 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 Barclays Capital, Amir Rozwadowski Berenberg, Nate Crossett Citi, Mike Rollins Cowen, Colby Synesael 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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