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 3 August 2016

(Commission File No. 001-35053)

 

 

INTERXION HOLDING N.V.

(Translation of Registrant’s Name into English)

 

 

Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands, +31 20 880 7600

(Address of Principal Executive Office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            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 2016 earnings press release and (2) presentation materials to be used during a conference call with investors on 3 August 2016.

 

Exhibit     
99.1    The press release “Interxion Reports Second Quarter 2016 Results”, dated 3 August 2016.
99.2    Presentation materials to be used during a conference call with investors on 3 August 2016.


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: 3 August 2016

Press Release

Exhibit 99.1

 

LOGO

Press Release, 3 August 2016

Interxion Reports Second Quarter 2016 Results

Recurring Revenue growth of 10% Y/Y combined with Gross Margin Expansion

AMSTERDAM 3 August 2016 – Interxion Holding NV (NYSE: INXN), a leading European provider of carrier and cloud-neutral colocation data centre services, announced its results today for the three months ended 30 June 2016.

Financial Highlights

 

    Revenue increased by 9% to €104.0 million (2Q 2015: €95.4 million).

 

    Recurring revenue1 increased by 10% to €99.3 million (2Q 2015: €90.3 million).

 

    Net profit was €9.2 million (2Q 2015: €21.6 million, which included net M&A transaction income of €17.0 million).

 

    Adjusted net profit2 increased by 8% to €9.0 million (2Q 2015: €8.3 million).

 

    Earnings per diluted share were €0.13 (2Q 2015: €0.31, which included the aforementioned net M&A transaction income).

 

    Adjusted earnings per diluted share were €0.13 (2Q 2015: €0.12).

 

    Adjusted EBITDA2 increased by 13% to €47.3 million (2Q 2015: €42.0 million).

 

    Adjusted EBITDA margin increased to 45.5% (2Q 2015: 44.0%).

 

1  Recurring revenue is revenue that is 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. Rents received for the sublease of unused sites are excluded.
2  Adjusted net profit and adjusted EBITDA are non-IFRS figures intended to adjust for certain items and are not measures of financial performance under IFRS. Full definitions can be found in the “Non-IFRS Financial Measures” section later in this press release. Reconciliations of net profit to adjusted EBITDA and net profit to adjusted net profit can be found in the financial tables later in this press release.

 

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LOGO

Press Release, 3 August 2016

 

 

    Capital expenditures, including intangible assets3, were €62.6 million (2Q 2015: €47.8 million).

 

    During the second quarter, Interxion issued €150 million aggregate principal amount of 6.00% Senior Secured Notes due 2020 at an issue price of 104.50%.

Operating Highlights

 

    Equipped space increased by 2,600 square metres in the quarter to 104,200 square metres.

 

    Revenue generating space increased by 1,200 square metres in the quarter to 81,600 square metres.

 

    Utilisation rate at the end of the quarter was 78%.

 

    During the second quarter, Interxion completed expansions in Germany, opening the second phases of FRA10 in Frankfurt and DUS2 in Dusseldorf, as well as opening the first phase of its second data centre in Copenhagen (CPH2).

“Interxion’s financial and operational results continued their consistent upward trajectory in the second quarter, with solid recurring revenue growth and adjusted EBITDA margin growth of 150 basis points from the second quarter 2015.” said David Ruberg, Interxion’s Chief Executive Officer. “Demand in the quarter was strong in multiple geographies and multiple industry segments as we continue to attract magnetic platform providers and build our communities of interest around them.”

 

 

3  Capital expenditures, including intangible assets, represent 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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LOGO

Press Release, 3 August 2016

 

Quarterly Review

Revenue in the second quarter of 2016 was €104.0 million, a 9% increase over the second quarter of 2015 and a 2% increase over the first quarter of 2016. Recurring revenue was €99.3 million, a 10% increase over the second quarter of 2015 and a 2% increase over the first quarter of 2016. Recurring revenue in the second quarter was 95% of total revenue.

Cost of sales in the second quarter of 2016 was €39.7 million, a 5% increase over the second quarter of 2015 and a 1% increase over the first quarter of 2016.

Gross profit was €64.4 million in the second quarter of 2016, an 11% increase over the second quarter of 2015 and a 2% increase over the first quarter of 2016. Gross profit margin was 61.9% in the second quarter of 2016 compared to 60.5% in the second quarter of 2015 and 61.6% in the first quarter of 2016.

Sales and marketing costs in the second quarter of 2016 were €7.3 million, a 1% increase over the second quarter of 2015 and a 6% decrease from the first quarter of 2016.

Other general and administrative costs were €9.7 million in the second quarter of 2016, a 14% increase over the second quarter of 2015 and a 5% increase from the first quarter of 2016. Other general and administrative costs exclude depreciation, amortisation, impairments, share-based payments, M&A transaction costs and provision for onerous lease contracts.

Depreciation, amortisation, and impairments in the second quarter of 2016 was €22.0 million, an increase of 12% from the second quarter of 2015 and a 3% increase from the first quarter of 2016.

Operating profit in the second quarter of 2016 was €23.5 million, a decrease of 38% from the second quarter of 2015 and 3% increase from the first quarter of 2016. Quarterly results in the second quarter 2015, first quarter 2016, and second quarter 2016 were impacted by M&A transaction related items. Excluding these items, underlying operating profit increased 16% over the second quarter of 2015.

 

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LOGO

Press Release, 3 August 2016

 

Net finance costs for the second quarter of 2016 were €10.2 million, a 28% increase over both the second quarter of 2015 and the first quarter of 2016. On 14 April 2016, Interxion issued €150 million principal amount of 6.00% Senior Secured Notes due 2020 at an issue price of 104.50%.

Income tax expense for the second quarter of 2016 was €4.2 million, a 49% decrease compared to the second quarter of 2015 and a 10% decrease from the first quarter of 2016.

Net profit was €9.2 million in the second quarter of 2016, a 58% decrease over the second quarter of 2015 and a 10% decrease from the first quarter of 2016.

Adjusted net profit was €9.0 million in the second quarter of 2016, an 8% increase over the second quarter of 2015, and a 10% decrease from the first quarter of 2016.

Adjusted EBITDA for the second quarter of 2016 was €47.3 million, a 13% increase over the second quarter of 2015 and a 3% increase over the first quarter of 2016. Adjusted EBITDA margin was 45.5% in the second quarter of 2016 compared to 44.0% in the second quarter of 2015 and 45.0% in the first quarter of 2016.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €39.3 million in the second quarter of 2016, compared to €54.1 million in the second quarter of 2015, and €50.4 million in the first quarter of 2016.

Capital expenditures, including intangible assets, were €62.6 million in the second quarter of 2016 compared to €47.8 million in the second quarter of 2015 and €50.0 million in the first quarter of 2016.

Cash and cash equivalents were €193.5 million at 30 June 2016, compared to €58.6 million at year end 2015. Total borrowings, net of deferred revolving facility financing fees, were €739.1 million at 30 June 2016 compared to €555.1 million at year end 2015.

 

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Press Release, 3 August 2016

 

As of 30 June 2016, the Company’s revolving credit facility was undrawn. Cash balances at 30 June 2016 reflect the receipt of net proceeds of approximately €155 million related to the Senior Secured Notes issuance completed on 14 April 2016.

Equipped space at the end of the second quarter of 2016 was 104,200 square metres compared to 98,300 square metres at the end of the second quarter of 2015 and 101,600 square metres at the end of the first quarter of 2016. Utilisation rate, the ratio of revenue-generating space to equipped space, was 78% at the end of the second quarter of 2016, compared with 78% at the end of the second quarter of 2015 and 79% at the end of the first quarter of 2016.

New expansion in Copenhagen (CPH2.2) announced today

Interxion is announcing today that it will expand its CPH2 data centre in Copenhagen by constructing an additional 600 square metres phase (“CPH2.2”) and adding over 1 MW of customer available power. CPH2.2 space capacity is scheduled to open in the first quarter of 2017 and has been completely pre-sold. Capital expenditure associated with the incremental space and power for CPH2 is expected to be approximately €15 million.

Business Outlook

Interxion today reaffirms guidance for its revenue, adjusted EBITDA and Capital expenditures (including intangibles) for full year 2016:

 

Revenue

  €416 million – €431 million

Adjusted EBITDA

  €185 million – €195 million

Capital expenditures (including intangibles)

  €200 million – €220 million

 

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Press Release, 3 August 2016

 

Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (1:30 pm BST, 2:30 pm CET) to discuss its Second Quarter 2016 results.

To participate on this call, U.S. callers may dial toll free 1-866-966-9439; callers outside the U.S. may dial direct +44 (0) 1452 555 566. The conference ID for this call is INXN. This event also will be webcast live over the Internet in listen-only mode at investors.interxion.com.

A replay of this call will be available shortly after the call concludes and will be available until 16 August 2016. To access the replay, U.S. callers may dial toll free 1-866-247-4222; callers outside the U.S. may dial direct +44 (0) 1452 550 000. The replay access number is 41849012.

Forward-looking Statements

This communication contains forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking statements. Factors that could cause actual results and future events to differ materially from Interxion’s expectations include, but are not limited to, the difficulty of reducing operating expenses in the short term, the inability to utilise the capacity of newly planned data centres and data centre expansions, significant competition, the cost and supply of electrical power, data centre industry over-capacity, performance under service level agreements, certain other risks detailed herein and other risks described from time to time in Interxion’s filings with the United States Securities and Exchange Commission (the “SEC”).

Interxion does not assume any obligation to update the forward-looking information contained in this report.

 

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Press Release, 3 August 2016

 

Non-IFRS Financial Measures

Included in these materials are certain non-IFRS financial measures, which are measures of our financial performance that are not calculated and presented in accordance with IFRS, within the meaning of applicable SEC rules. These measures are as follows: (i) EBITDA; (ii) adjusted EBITDA; (iii) recurring revenue, (iv) adjusted net profit; (v) adjusted basic earnings per share and (vi) adjusted diluted earnings per share.

Other companies may present EBITDA, adjusted EBITDA, recurring revenue, adjusted net profit, adjusted basic earnings per share and adjusted diluted earnings per share differently than we do. Each of these measures are not measures of financial performance under IFRS and should not be considered as an alternative to operating profit or as a measure of liquidity or an alternative to Profit for the period attributable to shareholders (“net profit”) as indicators of our operating performance or any other measure of performance implemented in accordance with IFRS.

EBITDA, Adjusted EBITDA and Recurring revenue

We define EBITDA as net profit plus income tax expense, net finance expense, depreciation, amortisation and impairment of assets.

We define adjusted EBITDA as EBITDA adjusted for the following items, which may occur in any period, and which management believes are not representative of our operating performance:

 

    Share-based payments – the fair value at the date of grant to employees of share options, is recognised as an employee expense over the vesting period. We believe that this expense does not represent our operating performance.

 

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

 

    Adjustments related to terminated and unused datacentre sites – these gains and losses relate to historical leases entered into for certain brownfield sites, with the intention of developing datacentres, 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 ongoing operating performance.

 

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Press Release, 3 August 2016

 

In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses.

Recurring revenue comprises revenue that is incurred monthly from colocation, connectivity and associated power charges, office space, amortized set-up fees and certain recurring managed services (but excluding any ad hoc managed services) provided by us directly or through third parties. Rents received for the sublease of unused sites are excluded.

We believe EBITDA and adjusted EBITDA provide useful supplemental information to investors regarding our ongoing operational performance because it helps us and our investors evaluate the ongoing operating performance of the business after removing the impact of 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 profit provides a more complete analysis of our operating performance. Management also believes the use of EBITDA and adjusted EBITDA facilitates comparisons between us and other data centre operators and other data centre operators that are REITs and other infrastructure based businesses. EBITDA and adjusted EBITDA are also relevant measures used in the financial covenants of our €100 million revolving facility and our 6.00% Senior Secured Notes due 2020. We also present recurring revenue as we believe it assists investors understand our operating performance.

A reconciliation from net profit to EBITDA and EBITDA to adjusted EBITDA is provided in the tables attached to this press release.

Adjusted net profit, adjusted basic earnings per share and adjusted diluted earnings per share

We define adjusted net profit as net profit 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 incurred. We exclude these effects because we believe they are not reflective of our ongoing operating performance.

 

   

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.

 

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Press Release, 3 August 2016

 

    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 profit. We believe that reversing the impact of capitalised interest provides information about the impact of the total interest costs and facilitates comparisons with other data centre operators.

In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses.

Management believe that the exclusion of certain items listed above, provides useful supplemental information to net profit to aid investors in evaluating the operating performance of our business and to aid investors compare our operating performance with other data centre operators and infrastructure companies. We believe the presentation of adjusted net profit, when combined with net income (loss) prepared in accordance with IFRS is beneficial to a complete understanding of our performance.

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

Interxion does not provide forward-looking estimates of net profit, operating profit, depreciation, amortisation, and impairments, share-based payments, M&A transaction costs or increase/decrease in provision for onerous lease contracts, and income from sub-leases of unused data centre sites, which it uses to reconcile to adjusted EBITDA. The Company is, therefore, unable to provide forward-looking reconciling information for adjusted EBITDA.

A reconciliation from net profit to adjusted net profit is provided in the tables attached to this press release.

 

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Press Release, 3 August 2016

 

-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 42 data centres in 11 European countries. Interxion’s uniformly designed, energy efficient data centres offer customers extensive security and uptime for their mission-critical applications.

With over 600 connectivity providers, 21 European Internet exchanges, and most leading cloud and digital media platforms across its footprint, Interxion has created connectivity, cloud, content and finance hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.

Contact information:

Interxion

Jim Huseby

Investor Relations

Tel: +1-813-644-9399

IR@interxion.com

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

 

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Press Release, 3 August 2016

 

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
2016
     Jun-30
2015
     Jun-30
2016
     Jun-30
2015
 

Revenue

     104,026         95,449         206,026         187,931   

Cost of sales

     (39,663      (37,663      (78,782      (73,945
  

 

 

    

 

 

    

 

 

    

 

 

 

Gross Profit

     64,363         57,786         127,244         113,986   

Other income

     33         20,997         130         21,060   

Sales and marketing costs

     (7,284      (7,210      (15,008      (13,889

General and administrative costs

     (33,568      (33,824      (65,953      (69,983
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating profit

     23,544         37,749         46,413         51,174   

Net finance expense

     (10,170      (7,946      (18,128      (14,531
  

 

 

    

 

 

    

 

 

    

 

 

 

Profit or loss before income taxes

     13,374         29,803         28,285         36,643   

Income tax expense

     (4,209      (8,216      (8,901      (10,631
  

 

 

    

 

 

    

 

 

    

 

 

 

Net income

     9,165         21,587         19,384         26,012   
  

 

 

    

 

 

    

 

 

    

 

 

 

Basic earnings per share: (€)

     0.13         0.31         0.28         0.37   

Diluted earnings per share: (€)

     0.13         0.31         0.27         0.37   

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

     70,479         69,575         70,479         69,575   

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

     70,316         69,562         70,163         69,478   

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

     71,198         70,609         71,018         70,573   

 

     As at  

Capacity metrics

  

Jun-30
2016

   

Jun-30
2015

 

Equipped space (in square meters)

     104,200        98,300   

Revenue generating space (in square meters)

     81,600        77,100   

Utilization rate

     78     78

 

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Press Release, 3 August 2016

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: SEGMENT INFORMATION

(in €’000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     Jun-30
2016
    Jun-30
2015
    Jun-30
2016
    Jun-30
2015
 

Consolidated

        

Recurring revenue

     99,331        90,297        196,542        177,348   

Non-recurring revenue

     4,695        5,152        9,484        10,583   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     104,026        95,449        206,026        187,931   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     9,165        21,587        19,384        26,012   

Net income margin

     9     23     9     14
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating profit

     23,544        37,749        46,413        51,174   

Operating profit margin

     23     40     23     27
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     47,346        42,029        93,265        82,634   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     61.9     60.5     61.8     60.7

Adjusted EBITDA margin

     45.5     44.0     45.3     44.0

Total assets

     1,473,099        1,211,968        1,473,099        1,211,968   

Total liabilities

     946,348        729,019        946,348        729,019   

Capital expenditure, including intangible assets (a)

     (62,592     (47,835     (112,594     (115,405

France, Germany, the Netherlands, and the UK

        

Recurring revenue

     63,773        57,321        126,039        112,304   

Non-recurring revenue

     2,608        2,995        5,884        6,622   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     66,381        60,316        131,923        118,926   

Operating income

     22,374        20,319        44,056        39,802   

Operating income margin

     34     34     33     33
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     37,012        33,248        73,193        64,618   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     63.4     62.6     62.9     62.3

Adjusted EBITDA margin

     55.8     55.1     55.5     54.3

Total assets

     954,598        836,429        954,598        836,429   

Total liabilities

     205,333        177,916        205,333        177,916   

Capital expenditure, including intangible assets (a)

     (43,627     (36,545     (80,383     (70,311

Rest of Europe

        

Recurring revenue

     35,558        32,976        70,503        65,044   

Non-recurring revenue

     2,087        2,157        3,600        3,961   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     37,645        35,133        74,103        69,005   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     15,083        13,206        30,352        26,553   

Operating income margin

     40     38     41     38
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     21,574        19,342        43,089        38,320   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     65.8     63.6     66.3     64.1

Adjusted EBITDA margin

     57.3     55.1     58.1     55.5

Total assets

     340,529        314,422        340,529        314,422   

Total liabilities

     81,711        57,932        81,711        57,932   

Capital expenditure, including intangible assets (a)

     (16,389     (10,289     (26,671     (43,414

Corporate and other

        

Operating profit

     (13,913     4,224        (27,995     (15,181
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (11,240     (10,561     (23,017     (20,304
  

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

     177,972        61,117        177,972        61,117   

Total liabilities

     659,304        493,171        659,304        493,171   

Capital expenditure, including intangible assets (a)

     (2,576     (1,001     (5,540     (1,680

 

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

 

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Press Release, 3 August 2016

 

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
2016
     Jun-30
2015
     Jun-30
2016
     Jun-30
2015
 

Reconciliation to Adjusted EBITDA

           

Consolidated

           

Net profit

     9,165         21,587         19,384         26,012   

Income tax expense

     4,209         8,216         8,901         10,631   
  

 

 

    

 

 

    

 

 

    

 

 

 

Profit before taxation

     13,374         29,803         28,285         36,643   

Net finance expense

     10,170         7,946         18,128         14,531   
  

 

 

    

 

 

    

 

 

    

 

 

 

Operating profit

     23,544         37,749         46,413         51,174   

Depreciation, amortisation and impairments

     22,021         19,577         43,498         37,792   
  

 

 

    

 

 

    

 

 

    

 

 

 

EBITDA (1)

     45,565         57,326         89,911         88,966   

Share-based payments

     1,322         1,789         2,763         4,030   

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

           

M&A transaction break fee income (2)

     —           (20,923      —           (20,923

M&A transaction costs (3)

     492         3,911         721         10,798   

Items related to terminated or unused data centre sites:

           

Increase/(decrease) in provision for onerous lease contracts (4)

     —           —           —           (100

Income from sub-leases on unused data centre sites (5)

     (33      (74      (130      (137
  

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted EBITDA (1)

     47,346         42,029         93,265         82,634   
  

 

 

    

 

 

    

 

 

    

 

 

 

France, Germany, the Netherlands, and the UK

           

Operating profit

     22,374         20,319         44,056         39,802   

Depreciation, amortisation and impairments

     14,543         12,544         28,835         24,261   
  

 

 

    

 

 

    

 

 

    

 

 

 

EBITDA (1)

     36,917         32,863         72,891         64,063   

Share-based payments

     128         459         432         792   

Items related to terminated or unused data centre sites:

           

Increase/(decrease) in provision for onerous lease contracts (4)

     —           —           —           (100

Income from sub-leases on unused data centre sites (5)

     (33      (74      (130      (137
  

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted EBITDA (1)

     37,012         33,248         73,193         64,618   
  

 

 

    

 

 

    

 

 

    

 

 

 

Rest of Europe

           

Operating profit

     15,083         13,206         30,352         26,553   

Depreciation, amortisation and impairments

     6,387         5,927         12,529         11,362   
  

 

 

    

 

 

    

 

 

    

 

 

 

EBITDA

     21,470         19,133         42,881         37,915   

Share-based payments

     104         209         208         405   
  

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted EBITDA (1)

     21,574         19,342         43,089         38,320   
  

 

 

    

 

 

    

 

 

    

 

 

 

Corporate and Other

           

Operating profit/(loss)

     (13,913      4,224         (27,995      (15,181

Depreciation, amortisation and impairments

     1,091         1,106         2,134         2,169   
  

 

 

    

 

 

    

 

 

    

 

 

 

EBITDA

     (12,822      5,330         (25,861      (13,012

Share-based payments

     1,090         1,121         2,123         2,833   

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

           

M&A transaction break fee income (2)

     —           (20,923      —           (20,923

M&A transaction costs (3)

     492         3,911         721         10,798   
  

 

 

    

 

 

    

 

 

    

 

 

 

Adjusted EBITDA

     (11,240      (10,561      (23,017      (20,304
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) “EBITDA” and “adjusted EBITDA” are non-IFRS financial measures within the meaning of the rules of the SEC. See “Non-IFRS measures” for more information on these measures, including why we believe that these supplemental measures are useful, and the limitations on the use of these supplemental measures.
(2) “M&A transaction break-fee income” represents the cash break-up fee received following the termination of the Implementation Agreement in May 2015. This fee was included in “Other income”.
(3) M&A transaction costs are costs associated with the evaluation, diligence and conclusion or termination of merger or acquisition activity. These costs are included in “General and administrative costs”. In the quarter ended 30 June 2015. M&A transaction costs included €3.9 million related to the abandoned merger with TelecityGroup. In the quarter ended 30 June 2016. M&A transaction costs included €0.5 million related to other activity including the evaluation of potential asset acquisitions.
(4) “Increase/(decrease) in provision for onerous lease contracts” relates to those contracts in which we expect losses to be incurred in respect of unused data centre sites over the term of the lease contract
(5) “Income from sub-leases of unused data centre sites” represents income from sub-letting of unused data centre sites to third parties, which is treated as “Other income”.

 

13


LOGO

Press Release, 3 August 2016

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED BALANCE SHEET

(in €’000 — except where stated otherwise)

(unaudited)

 

     As at  
     Jun-30
2016
    Dec-31
2015
 

Non-current assets

    

Property, plant and equipment

     1,087,585        999,072   

Intangible assets

     25,585        23,194   

Deferred tax assets

     20,895        23,024   

Financial assets

     947        —     

Other non-current assets

     7,165        6,686   
  

 

 

   

 

 

 
     1,142,177        1,051,976   

Current assets

    

Trade receivables and other current assets

     137,448        141,534   

Cash and cash equivalents

     193,474        58,554   
  

 

 

   

 

 

 
     330,922        200,088   
  

 

 

   

 

 

 

Total assets

     1,473,099        1,252,064   
  

 

 

   

 

 

 

Shareholders’ equity

    

Share capital

     7,048        6,992   

Share premium

     515,974        507,296   

Foreign currency translation reserve

     12,172        20,865   

Hedging reserve, net of tax

     (304     (213

Accumulated deficit

     (8,139     (27,523
  

 

 

   

 

 

 
     526,751        507,417   

Non-current liabilities

    

Trade payables and other liabilities

     11,459        12,049   

Deferred tax liabilities

     9,224        9,951   

Borrowings

     735,455        550,812   
  

 

 

   

 

 

 
     756,138        572,812   

Current liabilities

    

Trade payables and other liabilities

     180,910        162,629   

Income tax liabilities

     4,782        2,738   

Provision for onerous lease contracts

     260        1,517   

Borrowings

     4,258        4,951   
  

 

 

   

 

 

 
     190,210        171,835   
  

 

 

   

 

 

 

Total liabilities

     946,348        744,647   
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     1,473,099        1,252,064   
  

 

 

   

 

 

 

 

14


LOGO

Press Release, 3 August 2016

 

INTERXION HOLDING NV

NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS

(in €’000 — except where stated otherwise)

(unaudited)

 

     As at  
     Jun-30
2016
    Dec-31
2015
 

Borrowings net of cash and cash equivalents

    

Cash and cash equivalents (a)

     193,474        58,554   
  

 

 

   

 

 

 

6.00% Senior Secured Notes due 2020 (b)

     629,904        475,503   

Mortgages

     57,109        44,073   

Financial leases

     52,700        34,582   

Other borrowings

     —          1,605   
  

 

 

   

 

 

 

Borrowings excluding Revolving Facility deferred financing costs

     739,713        555,763   
  

 

 

   

 

 

 

Revolving Facility deferred financing costs (c)

     (568     (710
  

 

 

   

 

 

 

Total borrowings

     739,145        555,053   
  

 

 

   

 

 

 

Borrowings net of cash and cash equivalents

     545,671        496,499   
  

 

 

   

 

 

 

 

(a) Cash and cash equivalents include €4.1 million as of 30 June 2016 and €4.9 million as of 31 December 2015, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.
(b) €625 million 6.00% Senior Secured Notes due 2020 include a premium on the additional issuance and are shown after deducting underwriting discounts and commissions, offering fees and expenses.
(c) Deferred financing costs of €0.6 million as of 30 June 2016 were incurred in connection with the €100 million revolving facility.

 

15


LOGO

Press Release, 3 August 2016

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in €’000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     Six Months Ended  
     Jun-30
2016
    Jun-30
2015
    Jun-30
2016
    Jun-30
2015
 

Net profit

     9,165        21,587        19,384        26,012   

Depreciation, amortisation and impairments

     22,021        19,577        43,498        37,792   

Provision for onerous lease contracts

     (392     (849     (1,271     (1,774

Share-based paymens

     1,158        1,789        2,558        4,030   

Net finance expense

     10,170        7,946        18,128        14,531   

Income tax expense

     4,209        8,216        8,901        10,631   
  

 

 

   

 

 

   

 

 

   

 

 

 
     46,331        58,266        91,198        91,222   

Movements in trade receivables and other current assets

     (3,732     (7,734     1,310        (9,365

Movements in trade payables and other liabilities

     (3,264     3,609        (2,758     6,483   
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated from operations

     39,335        54,141        89,750        88,340   

Interest and fees paid (a)

     (1,060     (1,448     (15,422     (15,022

Interest received

     18        31        25        80   

Other financial items

     —          —          —          —     

Income tax paid

     (2,484     (2,740     (3,538     (5,060
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) operating activities

     35,809        49,984        70,815        68,338   

Cash flows from investing activities

        

Purchase of property plant and equipment

     (60,729     (46,911     (108,176     (112,229

Purchase of intangible assets

     (1,863     (924     (4,419     (3,176

Movement in short-term investments

     —          1,650        —          1,650   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) investing activities

     (62,592     (46,185     (112,595     (113,755

Cash flows from financing activities

        

Proceeds from exercised options

     4,250        230        6,176        2,408   

Proceeds from mortgages

     14,625        —          14,625        —     

Repayment of mortgages

     (948     (720     (1,268     (1,040

Proceeds Senior secured notes at 6%

     155,346        —          155,346        —     

Interest received at issue of additional notes

     2,225        —          2,225        —     

Net cash flows from / (used in) financing activities

     175,498        (490     177,104        1,368   

Effect of exchange rate changes on cash

     147        (193     (404     1,224   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase / (decrease) in cash and cash equivalents

     148,862        3,116        134,920        (42,825

Cash and cash equivalents, beginning of period

     44,612        53,982        58,554        99,923   
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

     193,474        57,098        193,474        57,098   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

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

 

16


LOGO

Press Release, 3 August 2016

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED NET PROFIT RECONCILIATION

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

(unaudited)

 

     For the three months ended     For the six months ended  
     30 Jun
2016
    30 Jun
2015
    30 Jun
2016
    30 Jun
2015
 

Consolidated

   ’000      ’000      ’000      ’000   

Net profit

     9,165        21,587        19,384        26,012   

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

        

M&A transaction costs

     492        3,911        721        10,798   

M&A transaction break fee income

     —          (20,923     —          (20,923

Adjustments related to provisions:

        

Increase/(decrease) in provision for onerous lease contracts

     —          —          —          (100

Adjustments related to capitalised interest:

     (701     (700     (1,166     (1,600
  

 

 

   

 

 

   

 

 

   

 

 

 
     (209     (17,712     (445     (11,825

Tax effect of above add backs and reversals

     52        4,428        111        3,000   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net profit

     9,008        8,303        19,050        17,187   
  

 

 

   

 

 

   

 

 

   

 

 

 

Reported basic EPS: (€)

     0.13        0.31        0.28        0.37   

Reported diluted EPS: (€)

     0.13        0.31        0.27        0.37   

Adjusted basic EPS: (€)

     0.13        0.12        0.27        0.25   

Adjusted diluted EPS: (€)

     0.13        0.12        0.27        0.24   

 

17


LOGO

Press Release, 3 August 2016

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 3 August 2016

with Target Open Dates after 1 January 2016

 

Market

  

Project

   CAPEX (a)(b)
(€ million)
     Equipped
Space (a)
(sqm)
     Target Opening Dates

Amsterdam

   AMS 8: Phases 1 - 2 New Build      50         2,600       4Q 2016

Copenhagen

   CPH2: Phases 1 - 2 New Build      19         1,100       2Q 2016 - 1Q 2017(c)

Dublin

   DUB3: Phases 1 - 2 New Build      28         1,200       4Q 2016

Dusseldorf

   DUS 2: Phase 1 - 2 New Build      16         1,200       4Q 2015 - 2Q 2016 (d)

Frankfurt

   FRA 10: Phases 1 - 4 New Build      92         4,800       1Q 2016 - 4Q 2016 (e)

Marseille

   MRS 1: Phase 2 (continued)      10         800       3Q 2016

Paris

   PAR7: Phase 2      14         1,100       2Q 2017

Vienna

   VIE 2: New Build      65         4,200       4Q 2014 - 2Q 2017 (f)

Total

      294         17,000      

 

(a) CAPEX and Equipped space are approximate and may change. Figures are rounded to nearest 100 sqm unless otherwise noted.
(b) CAPEX reflects the total spend for the projects listed at full power and capacity and the amounts shown in the table above may be invested over the duration of more than one fiscal year.
(c) Phase 1 (500 square metres) became operational in 2Q 2016. Phase 2 (600 square metres) is scheduled to become operational
(d) Phase 1 (600 square metres) became operational in 4Q 2015. Phase 2 (600 square metres) became operational in 2Q 2016.
(e) Phase 1 (1,200 square metres) became operational in 1Q 2016; phase 2 (1,200 square metres) became operational in 2Q 2016; phases 3 & 4 (1,200 square metres each) are both scheduled to become operational in 4Q 2016.
(f) 1,300 square metres became operational in 4Q 2014; 600 square metres became operational in 1Q 2015; 600 square metres became operational in 2Q 2015. 300 square metres became operational in 4Q 2015. 300 sqm is scheduled to become operational in 4Q 2016; another 1,100 square metres is scheduled to become operational in 2Q 2017.

 

18

Presentation materials

Slide 1

NYSE: INXN 3 Aug 2016 © Copyright Interxion Holding N.V., 2016. 2Q 2016 EARNINGS CONFERENCE CALL Exhibit 99.2


Slide 2

This document includes forward-looking statements. All statements other than statements of historical fact included in this document regarding our business, financial condition, results of operations and certain of our plans, objectives, assumptions, projections, expectations or beliefs with respect to these items and statements regarding other future events or prospects, are forward-looking statements. These statements include, without limitation, those concerning: our strategy and our ability to achieve it; expectations regarding sales, profitability and growth; plans for the construction of new data centres; our possible or assumed future results of operations; research and development, capital expenditure and investment plans; adequacy of capital; and financing plans. The words “aim,” “may,” “will,” “expect,” “anticipate,” “believe,” “future,” “continue,” “help,” “estimate,” “plan,” “schedule,” “intend,” “should,” “shall” or the negative or other variations thereof as well as other statements regarding matters that are not historical fact, are or may constitute forward-looking statements. In addition, this document includes forward-looking statements relating to our potential exposure to various types of market risks, such as foreign exchange rate risk, interest rate risks and other risks related to financial assets and liabilities. We have based these forward-looking statements on our management’s current view with respect to future events and financial performance. These views reflect the best judgment of our management but involve a number of risks and uncertainties which could cause actual results to differ materially from those predicted in our forward-looking statements and from past results, performance or achievements. Although we believe that the estimates reflected in the forward-looking statements are reasonable, such estimates may prove to be incorrect. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, among other things: operating expenses cannot be easily reduced in the short term; inability to utilise the capacity of newly planned data centres and data centre expansions; significant competition; cost and supply of electrical power; data centre industry over-capacity; and performance under service level agreements. All forward-looking statements included in this document are based on information available to us on the date of this document. The Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law. All subsequent written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements contained throughout this document. This document contains references to certain non-IFRS financial measures, such as EBITDA, adjusted EBITDA, recurring revenue, adjusted net profit, 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. 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

Solid Financial and Operational Execution Continues with Growing Demand Revenue grew 9% Y/Y, 2% Q/Q Recurring revenue grew 10% Y/Y, 2% Q/Q Adjusted EBITDA grew 13% Y/Y, 3% Q/Q Adjusted EBITDA margin of 45.5%, increased by 150 bps Y/Y Capital expenditure of €62.6 million including intangibles Financial Execution Opened new data centre in Copenhagen Completed expansions in Frankfurt and Düsseldorf Utilisation rate at 78% Completed bond tap in April 2016 raising approximately €155 million net proceeds Operational Execution 2Q 2016 PERFORMANCE


Slide 5

Adjusted EBITDA & Margin (€ millions) Revenue (€ millions) 45.0% 45.5% 44.0% 44.6% Margin Non- recurring revenue Recurring revenue 2Q Revenue €104.0 million Grew 9% Y/Y and 2% Q/Q 2Q Recurring revenue €99.3 million Grew 10% Y/Y and 2% Q/Q 95% of total revenue 2Q Adjusted EBITDA €47.3 million Grew 13% Y/Y and 3% Q/Q 2Q Adjusted EBITDA margin 45.5% Revenue Growth with 150 Basis Point Y/Y Adjusted EBITDA Margin Increase 95.4 90.3 98.0 92.8 100.7 95.1 44.6% 2Q 2016 FINANCIAL HIGHLIGHTS 102.0 97.2 104.0 99.3


Slide 6

Equipped & Revenue Generating Space (1,000’s sqm) Utilisation 79% 78% 78% 78% Available Equipped space Revenue generating space 101.6 100.2 98.3 Consistent Utilisation Reflects Sustained Demand 101.2 78% Equipped space of 104,200 sqm 2,600 sqm added in the quarter Revenue generating space of 81,600 sqm 1,200 sqm installed in the quarter Utilisation rate of 78% 2Q 2016 OPERATIONAL HIGHLIGHTS 104.2


Slide 7

Market Data Centre Project Project CapEx (€ millions) Equipped Space (sqm) Remaining Schedule Project Opened(1) Amsterdam AMS8 Phases 1 – 2 New Build 50 2,600 0 4Q16 Copenhagen CPH2 Phase 1 - 2 New Build 19 1,100 500 1Q17 Dublin DUB3 Phase 1 – 2 New Build 28 1,200 0 4Q16 Frankfurt FRA10 Phases 1-4 New Build 92 4,800 2,400 3Q16 – 4Q16 Marseille MRS1 Phase 2 continued 10 800 0 3Q16 Paris PAR7 Phase 2 14 1,100 0 2Q17 Vienna VIE2 Phases 1-6 New Build 65 4,200 2,800 4Q16 – 3Q17 Announced Projects With Pending Expansions(1) (See Appendix for further information) Completed expansions: CPH2: opened initial 500 sqm FRA10: opened 1,200 sqm DUS2: opened 600 sqm Further expansion in Copenhagen Further expansion (CPH2.2) with 600 sqm Expansions totalling approximately 10,100 sqm(2) to open in 2H16– 2017 EXPANDING FACILITIES TO SUPPORT CUSTOMER NEEDS As of 3 August 2016. 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.


Slide 8

BUILDING COMMUNITIES OF INTEREST DELIVERS SIGNIFICANT CUSTOMER VALUE 11% 10% 11% Connectivity Providers Cloud Providers Systems Integrators Financial Services Digital Media / CDNs Enterprises Platforms Data / End-user applications 9% 28% 32% Foundational Segments Enhance Communities of Interest = % of June 2016 Monthly Recurring Revenue (excluding metered energy) for each industry segment Note: Totals may not add due to rounding.


Slide 9

FINANCIAL HIGHLIGHTS Josh Joshi – Chief Financial Officer


Slide 10

€ millions (except per share amounts) 2Q 2015 1Q 2016 2Q 2016 2Q 2016 vs. 2Q 2015 2Q 2016 vs. 1Q 2016 Recurring revenue 90.3 97.2 99.3 10% 2% Non-recurring revenue 5.2 4.8 4.7 (9%) (2%) Revenue 95.4 102.0 104.0 9% 2% Gross profit 57.8 62.9 64.4 11% 2% Gross profit margin 60.5% 61.6% 61.9% +140bps +30bps Adjusted EBITDA(1) 42.0 45.9 47.3 13% 3% Adjusted EBITDA(1) margin 44.0% 45.0% 45.5% +150bps +50bps Net profit 21.6 10.2 9.2 (58%) (10%) EPS (diluted) €0.31 €0.14 €0.13 (58%) (7%) Adjusted net profit(1) 8.3 10.0 9.0 8% (10%) Adjusted EPS (diluted)(1) €0.12 €0.14 €0.13 8% (7%) Revenue grew 9% Y/Y and 2% Q/Q 10% Y/Y and 2% Q/Q constant currency Gross profit margin grew to 61.9%, up 140 bps Y/Y Increased 300 bps in last 6 quarters Adjusted EBITDA(1) margin grew to 45.5%, up 150 bps Y/Y Net profit comparisons impacted by 2Q 2015 M&A items and increased finance expense from April 2016 bond tap. 2Q 2016 RESULTS Adjusted EBITDA, adjusted net profit, and adjusted earnings per share (diluted) are non-IFRS figures intended to adjust for certain items. Full definitions can be found on the “Definitions” section in this slide deck. Reconciliations of adjusted EBITDA and adjusted net profit to Net profit can be found in the financial tables later in the appendix of this slide deck.


Slide 11

55.1 % 55.2 % 55.8% 55.1 % 56.9 % 57.3% Revenue grew 7% Y/Y, 3% Q/Q Recurring revenue grew 8% Y/Y, 2% Q/Q 9% Y/Y and 2% Q/Q constant currency Adjusted EBITDA grew 12% Y/Y, <1% Q/Q Strength in Austria, Denmark and Sweden Revenue grew 10% Y/Y, 1% Q/Q Recurring revenue grew 11% Y/Y, 2% Q/Q 13% Y/Y and 3% Q/Q constant currency Adjusted EBITDA grew 11% Y/Y, 2% Q/Q Strength in France, Germany, and the Netherlands Revenue Adjusted EBITDA Adjusted EBITDA margin (€ millions) France, Germany, the Netherlands, and the UK Rest of Europe Solid Revenue Growth and Strong Margins in Both Reporting Segments 2Q 2016 REPORTING SEGMENT ANALYSIS Note: Analysis excludes “Corporate & Other” segment. 53.7% 57.9% 55.2% 59.0%


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Capital Expenditures, including Intangible Assets By Geography (2Q 2016) By Category (2Q 2016) (€ millions) (€ millions) (€ millions) Demand-Driven Capital Allocation DISCIPLINED INVESTMENTS FOR PROFITABLE GROWTH


Slide 13

Cash position and growing operating cash flow fully funds expansions Bond tap raised €155 million net proceeds €15 million mortgage added in Vienna €18 million finance lease for AMS8 €100 million RCF remains undrawn 5.8% blended cost of debt 2Q 2016 LTM Cash ROGIC 11% € millions 30-Jun-16 31-Dec-15 Cash & Cash Equivalents 193.5 58.6 Total Borrowings(1) 739.1 555.1 Shareholders Equity 526.8 507.4 Total Capitalisation 1,266.0 1,062.5 Total Borrowings / Total Capitalisation 58.3% 52.2% Gross Leverage Ratio(2) 4.0x 3.2x Net Leverage Ratio(3) 3.0x 2.9x STRONG BALANCE SHEET Recent Financing Initiatives Position Interxion for Future Growth Total Borrowings = 6.00% Senior Secured  Notes due 2020 including premium on additional issue and are shown after deducting underwriting discounts and commissions, offering fees and expenses + Mortgages + Financial Leases + Revolving facility borrowings + Other Borrowings – Revolving facility deferred financing costs. Gross Leverage Ratio =  (6.00% Senior Secured Notes due 2020 at face value + Mortgages + Financial Leases + Revolving facility borrowings+ Other Borrowings)  /  LTM Adjusted EBITDA. Net Leverage Ratio = (6.00% Senior Secured Notes due 2020 at face value + Mortgages + Financial Leases + Revolving facility balance + Other Borrowings – Cash & Cash Equivalents)  /  LTM Adjusted EBITDA.


Slide 14

30 Fully Built-Out Data Centres(1)(2) Space fully equipped Some power upgrades yet to come As of 1 January 2015 70,500 sqm of equipped space 82% utilisation 24% annual cash return 24% Q2 2016 LTM Returns Attractive Cash Returns from Fully Built-Out Data Centres(1) DISCIPLINED INVESTMENTS DRIVE STRONG RETURNS Fully Built-Out Data Centre: a data centre for which materially all equippable space is equipped. However, note, future power upgrades can further increase the capacity of a fully built out data centre.. 30 Fully Built-Out Data Centres as at 1 January 2015: AMS1, AMS3, AMS4, AMS5, AMS6, BRU1, CPH1, DUB1, DUB 2, FRA1, FRA2, FRA3, FRA4, FRA5, FRA6, FRA7, FRA8, FRA9, LON1, LON2, MAD1, PAR1, PAR2, PAR3, PAR4, PAR5, PAR6, STO1, STO3, and VIE1. Represents total cumulative investments in Data Centre Assets, including freehold land and buildings, infrastructure and equipment, Intangible assets, and assets under construction as at 30 June 2016. (€ millions)


Slide 15

BUSINESS COMMENTARY OUTLOOK & CONCLUDING REMARKS David Ruberg – Chief Executive Officer


Slide 16

DRIVERS OF CLOUD ADOPTION IN EUROPE & US Cloud Platform Infrastructure Multi-wave roll out with a two year lag between US & Europe “Move to the Edge” Impact Global architectural trend, more pronounced in Europe Time to Market for Cloud Providers Increasing reliance on third party data centres to meet demand CIO Approach to Cloud Adoption Innovation-led in the US vs more cautious and holistic in Europe Role of Enterprise Cloud Enablers Critical role of MSPs & SIs in Europe


Slide 17

APPROACH TO CAPTURE THE OPPORTUNITY IN EUROPE Phase 1 Capture the platforms with the highest magnetic potential Phase 2 Create the cloud community of interest with MSP’s and SI’s Phase 3 Expand the community of interest with enterprise deployments Enterprises Hybrid Cloud Enablers Private Cloud Public Cloud Cloud Providers


Slide 18

Range (in € millions) Revenue Adjusted EBITDA(1) Capital Expenditures 416 — 431 185 — 195 200 — 220 GUIDANCE FOR 2016 Adjusted EBITDA is a non-IFRS figure intended to adjust for certain items. Full definitions can be found on the “Definitions” section in this slide deck. A reconciliation of Adjusted EBITDA can be found in the financial tables later in the appendix of this slide deck.


Slide 19


Slide 20

APPENDIX


Slide 21

CAGR(1) = 13% CAGR(1) = 17% Adjusted EBITDA Margin(3) 36% 39% 38% 38% 38% 39% 40% 42% 42% 41% 41% 43% 43% 43% 43% 43% 43% 43% 43% 43% 44% 44% 45% 45% 45% 46% TRACK RECORD OF EXECUTION 39 Consecutive Quarters of Organic Revenue and Adjusted EBITDA Growth CAGR calculated as 2Q16 vs. 1Q10. Big 4 % defined as percentage of total revenue from France, Germany, Netherlands, and UK reporting segment. Adjusted EBITDA margin calculated as adjusted EBITDA divided by Revenue. Y/Y Growth 18% 19% 25% 23% 21% 19% 13% 16% 14% 13% 14% 13% 13% 13% 11% 7% 8% 9% 11% 15% 15% 14% 13% 12% 10% 9% Big 4 %(2) 60% 60% 60% 58% 60% 60% 59% 62% 61% 62% 62% 62% 63% 63% 62% 63% 63% 62% 63% 63% 63% 63% 65% 64% 64% 64%


Slide 22

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


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€ in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY                       Recurring revenue 75.9 78.7 80.9 83.7 87.1 90.3 92.8 95.1 97.2 99.3 319.2 365.2 Non-recurring revenue 4.7 4.9 5.6 6.2 5.4 5.2 5.2 5.6 4.8 4.7 21.4 21.4 Total revenue 80.6 83.6 86.4 89.9 92.5 95.4 98.0 100.7 102.0 104.0 340.6 386.6 Gross profit 48.0 49.6 50.9 53.0 56.2 57.8 59.5 61.4 62.9 64.4 201.6 234.9 Gross profit margin 59.6% 59.4% 58.9% 58.9% 60.8% 60.5% 60.7% 61.1% 61.6% 61.9% 59.2% 60.8% Adj EBITDA 34.5 35.9 37.3 38.7 40.6 42.0 43.7 44.9 45.9 47.3 146.4 171.3 Adj EBITDA Margin 42.9% 42.9% 43.1% 43.0% 43.9% 44.0% 44.6% 44.6% 45.0% 45.5% 43.0% 44.3% Net profit / (loss) 10.4 8.3 9.0 7.4 4.4(1) 21.6(1) 10.4(1,2) 12.1(1) 10.2(1) 9.2(1) 35.1 48.6(1,2) CapEx paid 57.0 54.4 57.0 47.8 67.6 47.8 35.3 42.0 50.0 62.6 216.3 192.6 Expansion/upgrade 52.7 51.0 51.2 43.7 64.2 44.3 30.4 36.9 45.3 56.3 198.7 175.7 Maintenance & other 3.7 2.6 5.0 2.9 1.1 2.6 3.0 3.6 2.1 4.4 14.3 10.4 Intangibles 0.6 0.8 0.8 1.2 2.3 0.9 1.9 1.5 2.6 1.9 3.3 6.5 Cash generated from operations 34.3 26.9 33.6 40.5 34.2(1) 54.1(1) 43.0(1) 38.1(1) 50.4(1) 39.3(1) 135.4 169.4(1,2) Gross PP&E 1,045.4 1,105.8 1,183.1 1,235.6 1,308.8 1,350.2 1,375.6 1,418.7 1,457.2 1,541.2 1,235.6 1,418.7 Gross intangible assets 25.5 26.5 27.5 28.0 30.5 33.6 35.1 34.6 36.5 38.1 28.0 34.6 LTM Cash ROGIC 13% 12% 12% 11% 12% 12% 12% 12% 12% 11% 11% 12% HISTORICAL FINANCIAL RESULTS Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding. The Company’s growth has been 100% organic; hence, gross goodwill is zero for all periods. Includes €6.9 million, €3.9 million, €0.5 million, €0.6 million, €0.2 million and €0.5 million of M&A transaction cost in 1Q15, 2Q15, 3Q15, 4Q15, 1Q16, and 2Q16, respectively; also includes € 20.9 million M&A transaction break fee income in 2Q15. Includes gain on sale of financial asset.


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€ in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY                       BIG 4 Recurring revenue 47.6 49.3 51.0 52.7 55.0 57.3 59.5 60.9 62.3 63.8 200.6 232.6 Non-recurring revenue 3.1 2.9 3.9 3.7 3.6 3.0 3.8 3.9 3.3 2.6 13.6 14.3 Total revenue 50.8 52.2 54.9 56.4 58.6 60.3 63.2 64.8 65.5 66.4 214.2 246.9 Gross profit margin 61.8% 61.2% 60.5% 60.1% 62.0% 62.6% 62.3% 62.0% 62.4% 63.4% 60.9% 62.2% Adj EBITDA 27.3 27.9 29.2 29.0 31.4 33.2 34.9 34.8 36.2 37.0 113.4 134.3 Adj EBITDA margin 53.8% 53.4% 53.3% 51.4% 53.5% 55.1% 55.2% 53.7% 55.2% 55.8% 52.9% 54.4% REST OF EUROPE Recurring revenue 28.2 29.4 29.9 31.0 32.1 33.0 33.3 34.2 35.0 35.6 118.6 132.6 Non-recurring revenue 1.6 2.0 1.7 2.5 1.8 2.2 1.5 1.7 1.5 2.1 7.8 7.1 Total revenue 29.8 31.4 31.6 33.5 33.9 35.1 34.8 35.9 36.5 37.6 126.4 139.6 Gross profit margin 62.2% 62.3% 61.5% 62.3% 64.6% 63.6% 64.3% 65.9% 66.9% 65.8% 62.1% 64.6% Adj EBITDA 15.8 16.6 16.8 18.1 19.0 19.3 19.8 20.8 21.5 21.6 67.3 78.9 Adj EBITDA margin 52.9% 52.9% 53.1% 53.9% 56.0% 55.1% 56.9% 57.9% 59.0% 57.3% 53.2% 56.5% CORPORATE & OTHER Adj EBITDA (8.5) (8.7) (8.7) (8.4) (9.7) (10.6) (11.0) (10.7) (11.8) (11.2) (34.3) (41.9) HISTORICAL SEGMENT FINANCIAL RESULTS Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding.


Slide 25

Space figures in square metres(1) Recurring ARPU in € Customer Available Power in MW(1) 2014 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q                     Equipped space 82,900 86,000 88,600 93,500 94,800 98,300 100,200 101,200 101,600 104,200 Equipped space added 2,800 3,100 2,600 4,900 1,300 3,500 1,900 1,000 400 2,600 Revenue generating space 61,400 64,300 68,500 71,000 74,000 77,100 78,000 79,100 80,400 81,600 RGS added 1,700 2,900 4,200 2,500 3,000 3,100 900 1,100 1,300 1,200 Recurring ARPU 418 418 406 400 400 398 399 403 406 409 Utilisation (%)(2) 74% 75% 77% 76% 78% 78% 78% 78% 79% 78% Equipped customer power 86 90 96 99 109 114 116 118 120 123 Maximum equippable customer power 139 139 145 145 153 154 177 179 178 178 Data centres in operation 36 37 38 40 39 40 40 41 41 42 HISTORICAL OPERATING METRICS All figures at the end of the period, except as noted. Maximum equippable customer power includes the announced maximum equippable customer power from current and announced data centres as at the date of each quarter’s respective report. Utilisation as at the end of the reporting period.


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Space figures in square metres(1) 2014 2015 2016E(2) 2017E(2) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3QE 4QE 1QE 2QE 3QE 4QE BIG 4 France ‒ ‒ ‒ 600  ‒ ‒ 900 ‒ ‒ ‒ 800 ‒ ‒ 1,100 ‒ ‒ Germany  800 1,800  100 1,800  ‒  400 100 600 1,200 1,800 ‒ 2,400 ‒ ‒ ‒ ‒ Netherlands(3) 1,100 1,000 1,500 1,300  700 1,300 ‒ ‒ (700) ‒ ‒ 2,600 ‒ ‒ ‒ ‒ UK  ‒  100  100 ‒  ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 1,900 2,900 1,700 3,700 700 1,700 1,100 600 400 1,800 800 5,000 ‒ 1,100 ‒ ‒ REST OF EUROPE Austria  ‒  ‒  ‒ 1,300  600 600 ‒ 300 ‒ ‒ ‒ 300 ‒ 1,100 ‒ ‒ Belgium  300  ‒  ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Denmark  ‒  ‒  ‒ ‒ ‒ ‒ ‒ ‒ ‒ 500 ‒ ‒ 600 ‒ ‒ ‒ Ireland  ‒  ‒  ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ 1,200 ‒ ‒ ‒ ‒ Spain   ‒  ‒  ‒ ‒ ‒ ‒ 800 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Sweden 500  ‒ 900 ‒ ‒ 1,100 ‒ ‒ ‒ 200 ‒ ‒ ‒ ‒ ‒ ‒ Switzerland  ‒ 100  ‒ ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 800 100 900 1,300 600 1,800 800 300 ‒ 700 ‒ 1,500 600 1,100 ‒ ‒ Total additional equipped space 2,800 3,100 2,600 4,900 1,300 3,500 1,900 1,000 400 2,600 800 6,500 600 2,200 ‒ ‒ SCHEDULED EQUIPPED SPACE ADDITIONS Figures rounded to nearest net 100 sqm for each country unless otherwise noted. Totals may not add due to rounding. Future expansion additions based on announced schedule, which is subject to change; additions scheduled for the first half are noted in the second quarter and additions scheduled for the second half are noted in the fourth quarter. HIL1 exited in 1Q15; AMS2 exited in 1Q16.


Slide 27

PAN-EUROPEAN DATA CENTRE PORTFOLIO Built Out Status as at 1 January 2015, consistent with slide 14 Maximum equippable space as at 30 June 2016. Not included in Maximum Equippable Space, Interxion owns or leases land for data centre development in Copenhagen, Dublin, Frankfurt, Madrid, Marseille and Paris. Purchase options have been exercised, though not yet closed Maximum equippable space for AMS4 is included in the maximum equippable space of AMS1 Location Owned / Leased Build Out Status(1) Maximum Equippable Space (sqm)(2) (3) Location Owned / Leased Build Out Status (1) Maximum Equippable Space (sqm)(2) (3) Big 4 FRANCE NETHERLANDS MRS1 Owned Expanding 6,400 AMS1 Leased Fully 600 PAR1 Leased Fully 1,400 AMS3 Owned Fully 3,000 PAR2 Leased Fully 2,900 AMS4 Leased Fully NM (5) PAR3 Owned Fully 2,000 AMS5 Leased Fully 4,300 PAR4 Leased Fully 1,300 AMS6 Owned Fully 4,400 PAR5 Owned Fully 4,000 AMS7 Finance Lease(4) Expanding 7,600 PAR6 Leased Fully 1,300 AMS8 Finance Lease Under Construction 8,000 PAR7 Finance Lease(4) Expanding 5,700 UK       LON1 Leased Fully 5,400 LON2 Leased Fully 1,500 GERMANY DUS1 Leased Expanding 3,300 FRA5 Leased Fully 1,700 DUS2 Leased Expanding 1,200 FRA6 Leased Fully 2,200 FRA1 Leased Fully 500 FRA7 Leased Fully 1,500 FRA2 Leased Fully 1,100 FRA8 Owned Fully 3,700 FRA3 Leased Fully 2,200 FRA9 Leased Fully 800 FRA4 Leased Fully 1,400 FRA10 Owned Expanding 4,800 Subtotal - 29 Big 4 Data Centres Operating or Under Construction 84,200 ROE AUSTRIA       SPAIN       VIE1 Owned Fully 4,700 MAD1 Leased Fully 4,000 VIE2 Owned Expanding 6,200 MAD2 Leased Expanding 1,700 BELGIUM     SWEDEN     BRU1 Owned Fully 5,100 STO1 Leased Fully 1,900 DENMARK     STO2 Leased Expanding 1,200 CPH1 Leased Fully 3,800 STO3 Leased Fully 900 CPH2 Owned Expanding 1,600 STO4 Leased Expanding 1,100 IRELAND     SWITZERLAND     DUB1 Leased Fully 1,100 ZUR1 Leased Expanding 7,100 DUB2 Leased Fully 2,300 DUB3 Owned Under Construction 2,300 Subtotal - 15 Rest of Europe Data Centres Operating or Under Construction 45,000 GRAND 129,200 Location Owned /Leased Build OutStatus(1) Maximum Equippable Space (sqm)(2) Location Owned /Leased Build OutStatus(1) Maximum Equippable Space (sqm)(2) BIG 4 France Netherlands MRS1 Owned Expanding 6,400 AMS1 Leased Fully 600 PAR1 Leased Fully 1,400 AMS3 Owned Fully 3,000 PAR2 Leased Fully 2,900 AMS4 Leased Fully NM (5) PAR3 Owned Fully 2,000 AMS5 Leased Fully 4,300 PAR4 Leased Fully 1,300 AMS6 Owned Fully 4,400 PAR5 Owned Fully 4,000 AMS7 Finance Lease(4) Expanding 7,600 PAR6 Leased Fully 1,300 AMS8 Finance Lease Under Construction 8,000 PAR7 Finance Lease(4) Expanding 5,700 United Kingdom LON1 Leased Fully 5,400 LON2 Leased Fully 1,500 Germany(3) DUS1 Leased Fully 3,300 FRA5 Leased Fully 1,700 DUS2 Leased Fully 1,200 FRA6 Leased Fully 2,200 FRA1 Leased Fully 500 FRA7 Leased Fully 1,500 FRA2 Leased Fully 1,100 FRA8 Owned Fully 3,700 FRA3 Leased Fully 2,200 FRA9 Leased Fully 800 FRA4 Leased Fully 1,400 FRA10 Owned Expanding 4800 Subtotal - 29 Big 4 Data Centres Operating or Under Construction 84,200 ROE Austria Spain VIE1 Owned Fully 4,700 MAD1 Leased Fully 4,000 VIE2 Owned Expanding 6,200 MAD2 Leased Expanding 1,700 Belgium Sweden BRU1 Owned Fully 5,100 STO1 Leased Fully 1,900 Denmark STO2 Leased Expanding 1,200 CPH1 Leased Fully 3,800 STO3 Leased Fully 900 CPH2 Owned Expanding 1,600 STO4 Leased Expanding 1,100 Ireland Switzerland DUB1 Leased Fully 1,100 ZUR1 Leased Expanding 7,100 DUB2 Leased Fully 2,300 DUB3 Owned Under Construction 2,300 Subtotal - 15 Rest of Europe Data Centres Operating or Under Construction 45,000 Grand Total ,129,200 Totals # sqm % Owned 12 48,200 0.37306501547987614 Leased Finance Lease 3 21,300 0.16486068111455107 Operating Lease 29 59,700 0.46207430340557276 Total 44 129200 1


Slide 28

Reconciliation to adjusted net profit   € in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q FY FY   Net profit – as reported 10.4 8.3 9.0 7.4 4.4 21.6 10.4 12.1 10.2 9.2 35.1 48.6 Add back + Refinancing charges  ‒ 0.6 ‒  ‒  ‒ ‒ ‒ ‒  ‒  ‒ 0.6 ‒ + M&A transaction costs ‒ ‒ ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 0.3 11.8  ‒ 0.6 ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 0.9 11.8 Reverse - M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ ‒ ‒ ‒ (20.9) - Profit on sale of financial asset ‒ ‒ ‒ ‒ ‒ ‒ (2.3) ‒ ‒ ‒ (2.3) - Adjustment for onerous leases ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ ‒ ‒ (0.8) (0.2) - Interest capitalised (0.8) (0.8) (1.3) (0.6) (0.9) (0.7) (0.4) (0.6) (0.5) (0.7) (3.6) (2.6)   (0.8) (1.6) (1.3) (0.6) (1.0) (21.6) (2.8) (0.6) (0.5) (0.7) (4.4) (26.0) Tax effect of above add backs & reversals 0.2 0.3 0.3 0.2 (1.4) 4.4 0.6 0.0 0.1 0.1 0.9 3.5 Adjusted net profit   9.8 7.6 8.0 7.2 8.9 8.3 8.7 12.1 10.0 9.0 32.5 37.9 Reported Basic EPS (€) 0.15 0.12 0.13 0.11 0.06 0.31 0.15 0.17 0.15 0.13 0.51 0.70 Reported Diluted EPS (€) 0.15 0.12 0.13 0.11 0.06 0.31 0.15 0.17 0.14 0.13 0.50 0.69 Adjusted Basic EPS (€) 0.14 0.11 0.12 0.10 0.13 0.12 0.12 0.17 0.14 0.13 0.47 0.55 Adjusted Diluted EPS (€) 0.14 0.11 0.11 0.10 0.13 0.12 0.12 0.17 0.14 0.13 0.46 0.54 ADJUSTED NET PROFIT RECONCILIATION Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding.


Slide 29

Reconciliation to adjusted EBITDA                 € in millions (except as noted) 2010 2011 2012 2013 2014 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q Q2 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q                           Net profit / (loss) (4.7) 4.0 5.9 9.5 2.8 5.2 6.9 10.6 8.7 8.7 8.6 5.6 7.0 6.6 (16.5)(1) 9.8 10.4 8.3 9.0 7.4 4.4 21.6 10.4 12.1 10.2 9.2 Income tax expense / (benefit) 1.2 2.9 1.6 (3.2) 2.3 2.3 3.2 1.9 3.9 4.1 4.3 3.5 3.4 3.1 (4.1) 3.7 4.2 3.9 3.9 3.5 2.4 8.2 4.7 2.6 4.7 4.2 Profit / (loss) before taxation (3.5) 6.9 7.5 6.3 5.1 7.5 10.1 12.6 12.6 12.9 12.8 9.1 10.3 9.7 (20.6) 13.4 14.6 12.2 12.8 10.8 6.8 29.8 15.2 14.7 14.9 13.4 Net finance expense 13.5 4.8 5.1 6.1 6.6 6.0 5.3 5.0 4.4 3.9 3.8 5.7 6.5 7.3 38.1(1) 5.6 5.4 7.5 7.0 8.0 6.6 7.9 6.4 8.1 8.0 10.2 Operating profit 10.0 11.7 12.6 12.4   11.7 13.5 15.3 17.5   17.1 16.7 16.6 14.8 16.8 17.1 17.5 19.0 20.0 19.7 19.8 18.8 13.4 37.7 21.6 22.8 22.9 23.5 Depreciation, amortisation and impairments 7.2 7.5 7.8 8.6 8.5 9.6 9.1 8.4 9.7 10.2 11.0 13.1 14.0 14.9 15.2 13.5 14.0 14.9 16.0 17.3 18.2 19.6 20.3 20.2 21.5 22.0 EBITDA 17.2 19.2 20.4 21.0   20.3 23.1 24.4 25.9   26.7 27.0 27.6 27.8 30.8 32.0 32.7 32.5 34.0 34.6 35.9 36.2 31.6 57.3 41.8 43.0 44.4 45.6 Share-based payments 0.3 0.4 0.4 0.6 0.3 0.3 0.7 1.3 0.7 0.9 1.2 2.6 1.0 0.8 1.1 1.3 0.6 2.1 1.5 2.3 2.2 1.8 1.7 1.5 1.4 1.3 Increase/(decrease) in provision for onerous lease contracts 0.1 0.1 0.1 (0.1) 0.0 ‒ ‒ ‒ ‒ ‒ ‒ 0.8 ‒ ‒ - ‒ ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ ‒ ‒ IPO transaction costs ‒ ‒ ‒ ‒ 1.7 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - - M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ - - M&A transaction costs ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 Income from sub-leases on unused data centre sites (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) Adjusted EBITDA 17.4 19.6 20.8 21.4   22.2 23.3 25.0 27.1   27.3 27.8 28.7 31.2 31.7 32.7 33.7 33.8 34.5 35.9 37.3 38.7 40.6 42.0 43.7 44.9 45.9 47.3 Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding. Includes €31 million in one-time charges related to debt refinancing; see adjusted net profit reconciliation elsewhere in this Appendix. NON-IFRS RECONCILIATIONS


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Reconciliation to Segment adjusted EBITDA € in millions 2014 2015 2016 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q           BIG 4         Operating profit 18.3 18.7 18.4 17.6 19.5 20.3 21.7 21.7 21.7 22.4 Depreciation, amortisation and impairments 8.9 9.5 10.5 11.2 11.7 12.5 13.1 13.0 14.3 14.5 EBITDA 27.2 28.3 28.9 28.7 31.2 32.9 34.8 34.7 36.0 36.9 Share-based payments 0.2 0.5 0.3 0.4 0.3 0.5 0.4 0.2 0.3 0.1 Increase/(decrease) in provision for onerous lease contracts ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ ‒ ‒ Income from sub-leases on unused data centre sites (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) Adjusted EBITDA 27.3 27.9 29.2 29.0 31.4 33.2 34.9 34.8 36.2 36.9   ROE Operating profit 11.5 11.8 11.9 12.6 13.3 13.2 13.5 14.4 15.3 15.1 Depreciation, amortisation and impairments 4.3 4.5 4.6 5.1 5.4 5.9 6.1 6.2 6.1 6.4 EBITDA 15.7 16.3 16.5 17.8 18.8 19.1 19.6 20.6 21.4 21.5 Share-based payments 0.1 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.1 0.1 Adjusted EBITDA 15.8 16.6 16.8 18.1 19.0 19.3 19.8 20.8 21.5 21.6   CORPORATE & OTHER Operating profit/(loss) (9.8) (10.9) (10.4) (11.4) (19.4) 4.2 (13.6) (13.3) (14.1) (13.9) Depreciation, amortisation and impairments 0.8 0.8 0.9 1.0 1.1 1.1 1.1 1.0 1.0 1.1 EBITDA (9.0) (10.0) (9.6) (10.4) (18.3) 5.3 (12.5) (12.3) (13.0) (12.8) Share-based payments 0.4 1.4 0.8 1.7 1.7 1.1 1.1 1.1 1.0 1.1 M&A transaction costs ‒ ‒ ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ ‒ ‒ Adjusted EBITDA (8.5) (8.7) (8.7) (8.4) (9.7) (10.6) (11.0) (10.7) (11.8) (11.2) NON-IFRS RECONCILIATIONS Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding.


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Adjusted EBITDA and EBITDA: EBITDA is defined as net profit plus income tax expense, net finance expense, depreciation, amortisation and impairment of assets. We define adjusted EBITDA as EBITDA adjusted for share-based payments, income or expense related to the evaluation and execution of potential mergers or acquisitions and adjustments related to terminated and unused datacentre sites. In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses (e.g., Dutch crisis wage tax, IPO transaction costs) Adjusted diluted earnings per share: Adjusted diluted earnings per share amounts are determined on adjusted net profit Adjusted net profit: We define adjusted net profit as net profit adjusted to exclude income or expense related to the evaluation and execution of potential mergers or acquisitions, adjustments to provisions which are not reflective of our ongoing performance, and adjustments related to capitalised interest. In certain circumstances, we may also adjust for gains or losses that management believes are not representative of our current ongoing performance. Examples of this would include: adjusting for the cumulative effect of a change in accounting principle or estimate, impairment losses, litigation gains and losses or windfall gains and losses (e.g., Dutch crisis wage tax, IPO transaction costs) Big 4: France, Germany, the Netherlands, and the UK CAGR: Compound Annual Growth Rate Capital expenditures including intangible assets: represent payments to acquire property, plant & equipment and intangible assets as recorded on our consolidated statement of cash flows as "Purchase of property, plant and equipment" and "Purchase of intangible assets”, respectively. Investments in intangibles assets include power grid rights and software development Cash ROGIC: Cash Return on Gross Invested Capital (Cash ROGIC) defined as (Adjusted EBITDA less maintenance and other capex) divided by {Average of opening and closing (gross PP&E plus gross intangible assets plus gross goodwill)} 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 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 Definitions


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IAAS: Infrastructure as a Service LTM: Last Twelve Months ended 30 June 2016, unless otherwise noted MW: Megawatts PAAS: Platform as a Service SAAS: Software as a Service SQM: Square metres Recurring ARPU: Monthly recurring revenue per square metre calculated as {reported recurring revenue in the quarter divided by 3} divided by {sum of prior and current quarter end reported revenue generating space divided by 2} Recurring Revenue: revenue that is 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. Rents received for the sublease of unused sites are excluded Rest of Europe / ROE: Austria, Belgium, Denmark, Ireland, Spain, Sweden, and Switzerland Revenue Generating Space: the amount of Equipped Space that is under contract and billed on the relevant date Utilisation Rate: on the relevant date, Revenue Generating Space as a percentage of Equipped Space. Some Equipped Space is not fully utilised due to customers' specific requirements regarding the layout of their equipment. In practice, therefore, Utilisation Rate does not reach 100% YTM: Yield to maturity Definitions (cont’d)


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Investor Relations Contact Jim Huseby VP - Investor Relations +1-813-644-9399 IR@interxion.com