Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Report on Form 6-K dated 2 November 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  ☒            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 2016 earnings press release and (2) presentation materials to be used during a conference call with investors on 2 November 2016.

 

Exhibit

    
99.1    The press release “Interxion Reports Third Quarter 2016 Results”, dated 2 November 2016.
99.2    Presentation materials to be used during a conference call with investors on 2 November 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: 2 November 2016

Press Release

Exhibit 99.1

 

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Press Release, 2 November 2016

Interxion Reports Third Quarter 2016 Results

10% Constant Currency Revenue Growth

Coupled with Sustained Strong Demand

AMSTERDAM 2 November 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 September 2016.

Financial Highlights

 

    Revenue increased by 7% to €105.3 million (3Q 2015: €98.0 million).

 

    Recurring revenue1 increased by 8% to €100.0 million (3Q 2015: €92.8 million).

 

    Net income increased to €10.5 million (3Q 2015: €10.4 million).

 

    Adjusted net income2 decreased by 1% to €8.6 million (3Q 2015: €8.7 million).

 

    Earnings per diluted share were €0.15 (3Q 2015: €0.15).

 

    Adjusted earnings per diluted share decreased by 2% to €0.12 (3Q 2015: €0.12).

 

    Adjusted EBITDA2 increased by 11% to €48.3 million (3Q 2015: €43.7 million).

 

    Adjusted EBITDA margin increased to 45.9% (3Q 2015: 44.6%).

 

    Capital expenditures3, including intangible assets, were €64.5 million (3Q 2015: €35.3 million).

Operating Highlights

 

    Equipped space increased by 3,600 square metres in the quarter to 107,800 square metres.

 

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    Revenue generating space increased by 2,500 square metres in the quarter to 84,100 square metres.

 

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

 

    During the third quarter, Interxion completed a 2,400 sqm expansion in FRA10 in Frankfurt, an 800 sqm expansion at MRS1 in Marseille, and a 300 sqm expansion at VIE2 in Vienna.

“Once again, Interxion had solid quarterly results with 10% constant currency revenue growth and 130 basis points of Adjusted EBITDA margin expansion year over year. The strong level of bookings that we experienced in the first half of 2016 continued through the third quarter, and our current sales pipeline remains robust,” said David Ruberg, Interxion’s Chief Executive Officer. “We continue to experience strong demand across multiple industry segments and all deal sizes. We are experiencing this demand in multiple geographies, as evidenced by our order-driven capacity expansions in 9 of our 13 markets during 2016 and further expansions in 2017.”

Quarterly Review

Revenue in the third quarter of 2016 was €105.3 million, a 7% increase over the third quarter of 2015 and a 1% increase over the second quarter of 2016. Recurring revenue was €100.0 million, an 8% increase over the third quarter of 2015 and a 1% increase over the second quarter of 2016. Recurring revenue in the third quarter was 95% of total revenue. On a constant currency basis4, revenue and recurring revenue in the third quarter 2016 were both 10% higher than the third quarter of 2015.

Cost of sales in the third quarter of 2016 was €40.8 million, a 6% increase over the third quarter of 2015 and a 3% increase over the second quarter of 2016.

Gross profit was €64.5 million in the third quarter of 2016, an 8% increase over the third quarter of 2015 and a slight increase over the second quarter of 2016. Gross profit margin was 61.3% in the third quarter of 2016 compared with 60.7% in the third quarter of 2015 and 61.9% in the second quarter of 2016.

 

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Sales and marketing costs in the third quarter of 2016 were €7.3 million, a 5% increase over the third quarter of 2015 and a slight increase from the second quarter of 2016.

Other general and administrative costs, which exclude depreciation, amortisation, impairments, share-based payments, M&A transaction costs and provision for onerous lease contracts, were €8.9 million in the third quarter of 2016, a 1% increase over the third quarter of 2015 and a 9% decrease from the second quarter of 2016.

Depreciation, amortisation, and impairments in the third quarter of 2016 was €22.1 million, an increase of 9% from the third quarter of 2015 and a slight increase from the second quarter of 2016.

Operating income in the third quarter of 2016 was €23.6 million, an increase of 10% from the third quarter of 2015 and a slight increase from the second quarter of 2016.

Net finance expense for the third quarter of 2016 was €8.6 million, a 35% increase over the third quarter of 2015 and a 15% decrease over the second quarter of 2016. Included in third quarter 2016 net finance expense was a €1.3 million positive adjustment on finance lease obligations, lowering net finance expense. A sale of a financial asset was completed in the third quarter 2016, resulting in a €0.3 million gain compared to €2.3 million gain in the third quarter 2015.

Income tax expense for the third quarter of 2016 was €4.5 million, a 5% decrease compared with the third quarter of 2015 and a 7% increase from the second quarter of 2016.

Net income was €10.5 million in the third quarter of 2016, a slight increase over the third quarter of 2015 and a 14% increase from the second quarter of 2016.

Adjusted net income was €8.6 million in the third quarter of 2016, a 1% decrease over the third quarter of 2015, and a 5% decrease from the second quarter of 2016.

 

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Press Release, 2 November 2016

 

Adjusted EBITDA for the third quarter of 2016 was €48.3 million, an 11% increase over the third quarter of 2015 and a 2% increase over the second quarter of 2016. Adjusted EBITDA margin was 45.9% in the third quarter of 2016 compared to 44.6% in the third quarter of 2015 and 45.5% in the second quarter of 2016.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €41.5 million in the third quarter of 2016, compared to €43.0 million in the third quarter of 2015, and €39.3 million in the second quarter of 2016.

Capital expenditures, including intangible assets, were €64.5 million in the third quarter of 2016 compared to €35.3 million in the third quarter of 2015 and €62.6 million in the second quarter of 2016.

Cash and cash equivalents were €149.8 million at 30 September 2016, compared to €58.6 million at year end 2015. Total borrowings, net of deferred revolving facility financing fees, were €737.2 million at 30 September 2016 compared to €555.1 million at year end 2015. As of 30 September 2016, the Company’s revolving credit facility was undrawn.

Equipped space at the end of the third quarter of 2016 was 107,800 square metres compared to 100,200 square metres at the end of the third quarter of 2015 and 104,200 square metres at the end of the second quarter of 2016. Utilisation rate, the ratio of revenue-generating space to equipped space, was 78% at the end of the third quarter of 2016, compared with 78% at the end of the third quarter of 2015 and 78% at the end of the second quarter of 2016.

 

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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)    €260 million – €280 million

Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (12:30 pm GMT, 1:30 pm CET) to discuss its Third 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 15 November 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 92466336.

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

 

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utilise the capacity of newly planned data centres and data centre expansions, significant competition, the cost and supply of electrical power, data centre industry over-capacity, performance under service level agreements, certain other risks detailed herein and other risks described from time to time in Interxion’s filings with the United States Securities and Exchange Commission (the “SEC”).

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

Non-IFRS Financial Measures

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

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

EBITDA, Adjusted EBITDA, revenue on a constant currency basis, recurring revenue and recurring revenue on a constant currency basis

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

 

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

 

    Share-based payments – primarily the fair value at the date of grant to employees of equity awards, 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 datacentres are not reflective of our business activities and our ongoing operating performance.

In certain circumstances, we may also adjust for items 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.

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 income provides a more complete analysis of our operating performance. Management also believes the use of EBITDA and adjusted EBITDA facilitates comparisons between us and other data centre operators and other data centre operators that are REITs and

 

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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.

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

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 present recurring revenue as we believe it assists investors understand our operating performance.

We present constant currency information for revenue and recurring 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 and recurring revenue provides useful supplemental information to investors regarding our ongoing operational performance because it helps us and our investors evaluate the ongoing operating performance of the business after removing the impact of 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 incurred. We exclude these effects because we believe they are not reflective of our ongoing operating performance.

 

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

 

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

In certain circumstances, we may also adjust for items that management believes are not representative of our current 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 income 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 income, 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 income.

Interxion does not provide forward-looking estimates of net income, operating income, 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.

 

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

-ENDS-

About Interxion

Interxion (NYSE: INXN) is a leading provider of carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through 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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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 income 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 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, 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.
4  We present constant currency information for revenue and recurring 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.

 

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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     For the nine months ended  
     Sep-30
2016
    Sep-30
2015
    Sep-30
2016
    Sep-30
2015
 

Revenue

     105,275        97,976        311,301        285,907   

Cost of sales

     (40,765     (38,464     (119,547     (112,409
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross Profit

     64,510        59,512        191,754        173,498   

Other income

     12        142        142        21,202   

Sales and marketing costs

     (7,293     (6,943     (22,301     (20,832

General and administrative costs

     (33,619     (31,152     (99,572     (101,135
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     23,610        21,559        70,023        72,733   

Net Finance expense

     (8,628     (6,407     (26,756     (20,938
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit or loss before income taxes

     14,982        15,152        43,267        51,795   

Income tax expense

     (4,521     (4,737     (13,422     (15,368
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,461        10,415        29,845        36,427   
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic earnings per share: (€)

     0.15        0.15        0.42        0.52   

Diluted earnings per share: (€)

     0.15        0.15        0.42        0.52   

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

     70,527        69,638        70,527        69,638   

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

     70,528        69,619        70,286        69,526   

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

     71,463        70,612        71,188        70,561   
           As at  
                 Sep-30
2016
    Sep-30
2015
 

Capacity metrics

        

Equipped space (in square meters)

         107,800        100,200   

Revenue generating space (in square meters)

         84,100        78,000   

Utilization Rate

         78     78

 

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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     For the nine months ended  
     Sep-30
2016
    Sep-30
2015
    Sep-30
2016
    Sep-30
2015
 

Consolidated

        

Recurring revenue

     99,987        92,753        296,528        270,101   

Non-recurring revenue

     5,288        5,223        14,773        15,806   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     105,275        97,976        311,301        285,907   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     10,461        10,415        29,845        36,427   

Net income margin

     9.9     10.6     9.6     12.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     23,610        21,559        70,023        72,733   

Operating income margin

     22.4     22.0     22.5     25.4
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     48,331        43,732        141,596        126,366   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     61.3     60.7     61.6     60.7

Adjusted EBITDA margin

     45.9     44.6     45.5     44.2

Total assets

     1,457,055        1,208,485        1,457,055        1,208,485   

Total liabilities

     921,269        719,963        921,269        719,963   

Capital expenditure, including intangible assets (a)

     (64,526     (35,270     (177,120     (150,675

France, Germany, the Netherlands, and the UK

        

Recurring revenue

     63,809        59,461        189,847        171,765   

Non-recurring revenue

     3,073        3,758        8,958        10,380   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     66,882        63,219        198,805        182,145   

Operating income

     21,937        21,714        65,993        61,516   

Operating income margin

     32.8     34.3     33.2     33.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     36,776        34,907        109,969        99,525   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     62.6     62.3     62.8     62.3

Adjusted EBITDA margin

     55.0     55.2     55.3     54.6

Total assets

     949,085        852,020        949,085        852,020   

Total liabilities

     194,390        175,537        194,390        175,537   

Capital expenditure, including intangible assets (a)

     (43,489     (26,624     (123,873     (96,935

Rest of Europe

        

Recurring revenue

     36,178        33,292        106,681        98,336   

Non-recurring revenue

     2,215        1,465        5,815        5,426   
  

 

 

   

 

 

   

 

 

   

 

 

 

Revenue

     38,393        34,757        112,496        103,762   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     15,974        13,464        46,325        40,017   

Operating income margin

     41.6     38.7     41.2     38.6
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     22,366        19,784        65,455        58,104   
  

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit margin

     65.2     64.3     65.9     64.2

Adjusted EBITDA margin

     58.3     56.9     58.2     56.0

Total assets

     348,314        308,934        348,314        308,934   

Total liabilities

     77,799        57,150        77,799        57,150   

Capital expenditure, including intangible assets (a)

     (18,514     (6,022     (45,185     (49,436

 

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INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: SEGMENT INFORMATION

(in €‘000 — except where stated otherwise)

(unaudited) (continued)

     Three Months Ended     For the nine months ended  
     Sep-30
2016
    Sep-30
2015
    Sep-30
2016
    Sep-30
2015
 

Corporate and other

        

Operating income

     (14,301     (13,619     (42,295     (28,800
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA

     (10,811     (10,959     (33,828     (31,263
  

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

     159,656        47,531        159,656        47,531   

Total liabilities

     649,080        487,276        649,080        487,276   

Capital expenditure, including intangible assets (a)

     (2,523     (2,624     (8,062     (4,304

 

(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.

 

14


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED EBITDA RECONCILIATION

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     For the nine months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2016     2015     2016     2015  

Reconciliation to Adjusted EBITDA

        

Consolidated

        

Net income

     10,461        10,415        29,845        36,427   

Income tax expense

     4,521        4,737        13,422        15,368   
  

 

 

   

 

 

   

 

 

   

 

 

 

Profit before taxation

     14,982        15,152        43,267        51,795   

Net finance expense

     8,628        6,407        26,756        20,938   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     23,610        21,559        70,023        72,733   

Depreciation, amortisation and impairments

     22,094        20,251        65,592        58,043   
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA (1)

     45,704        41,810        135,615        130,776   

Share-based payments

     1,752        1,664        4,515        5,694   

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

        

M&A transaction break fee income (2)

     —          —          —          (20,923

M&A transaction costs (3)

     887        484        1,608        11,282   

Items related to terminated or unused data centre sites:

        

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

     —          (84     —          (184

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

     (12     (142     (142     (279
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA (1)

     48,331        43,732        141,596        126,366   
  

 

 

   

 

 

   

 

 

   

 

 

 

France, Germany, the Netherlands, and the UK

        

Operating income

     21,937        21,714        65,993        61,516   

Depreciation, amortisation and impairments

     14,782        13,066        43,617        37,327   
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA (1)

     36,719        34,780        109,610        98,843   

Share-based payments

     69        353        501        1,145   

Items related to terminated or unused data centre sites:

        

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

     —          (84     —          (184

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

     (12     (142     (142     (279
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA (1)

     36,776        34,907        109,969        99,525   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

15


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

NOTES TO CONDENSED CONSOLIDATED INCOME STATEMENTS: ADJUSTED EBITDA RECONCILIATION

(in €‘000 — except where stated otherwise)

(unaudited) (continued)

     Three Months Ended     For the nine months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2016     2015     2016     2015  

Rest of Europe

        

Operating income

     15,974        13,464        46,325        40,017   

Depreciation, amortisation and impairments

     6,288        6,113        18,818        17,475   
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA (1)

     22,262        19,577        65,143        57,492   

Share-based payments

     104        207        312        612   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA (1)

     22,366        19,784        65,455        58,104   
  

 

 

   

 

 

   

 

 

   

 

 

 

Corporate and Other

        

Operating income

     (14,301     (13,619     (42,295     (28,800

Depreciation, amortisation and impairments

     1,024        1,072        3,157        3,241   
  

 

 

   

 

 

   

 

 

   

 

 

 

EBITDA (1)

     (13,277     (12,547     (39,138     (25,559

Share-based payments

     1,579        1,104        3,702        3,937   

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

        

M&A transaction break fee income (2)

     —          —          —          (20,923

M&A transaction costs (3)

     887        484        1,608        11,282   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted EBITDA (1)

     (10,811     (10,959     (33,828     (31,263
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) “EBITDA” and “Adjusted EBITDA” are non-IFRS financial measures within the meaning of the rules of the SEC. See “Non-IFRS Financial Measures” for more information on these measures, including why we believe that these supplemental measures are useful, and the limitations on the use of these supplemental measures.
(2) “M&A transaction 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 September 2016, M&A transaction costs included €0.9 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 the income on sub-lease of portions of unused data centre sites to third parties. This income is treated as ‘Other income’.

 

16


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED BALANCE SHEET

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30     Dec-31  
     2016     2015  

Non-current assets

    

Property, plant and equipment

     1,108,458        999,072   

Intangible assets

     28,203        23,194   

Deferred tax assets

     19,668        23,024   

Financial assets

     1,890        —     

Other non-current assets

     7,125        6,686   
  

 

 

   

 

 

 
     1,165,344        1,051,976   

Current assets

    

Trade receivables and other current assets

     141,909        141,534   

Cash and cash equivalents

     149,802        58,554   
  

 

 

   

 

 

 
     291,711        200,088   
  

 

 

   

 

 

 

Total assets

     1,457,055        1,252,064   
  

 

 

   

 

 

 

Shareholders’ equity

    

Share capital

     7,053        6,992   

Share premium

     517,858        507,296   

Foreign currency translation reserve

     8,854        20,865   

Hedging reserve, net of tax

     (301     (213

Accumulated income / (deficit)

     2,322        (27,523
  

 

 

   

 

 

 
     535,786        507,417   

Non-current liabilities

    

Trade payables and other liabilities

     11,514        12,049   

Deferred tax liabilities

     8,871        9,951   

Borrowings

     733,027        550,812   
  

 

 

   

 

 

 
     753,412        572,812   

Current liabilities

    

Trade payables and other liabilities

     157,703        162,629   

Income tax liabilities

     5,465        2,738   

Provision for onerous lease contracts

     —          1,517   

Borrowings

     4,689        4,951   
  

 

 

   

 

 

 
     167,857        171,835   
  

 

 

   

 

 

 

Total liabilities

     921,269        744,647   
  

 

 

   

 

 

 

Total liabilities and shareholders’ equity

     1,457,055        1,252,064   
  

 

 

   

 

 

 

 

17


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

NOTES TO THE CONDENSED CONSOLIDATED BALANCE SHEET: BORROWINGS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     As at  
     Sep-30
2016
    Dec-31
2015
 

Borrowings net of cash and cash equivalents

    

Cash and cash equivalents (a)

     149,802        58,554   
  

 

 

   

 

 

 

6.00% Senior Secured Notes due 2020 (b)

     629,600        475,503   

Mortgages

     56,594        44,073   

Financial leases

     51,522        34,582   

Other borrowings

     —          1,605   
  

 

 

   

 

 

 

Borrowings excluding Revolving Facility deferred financing costs

     737,716        555,763   
  

 

 

   

 

 

 

Revolving Facility deferred financing costs (c)

     (497     (710
  

 

 

   

 

 

 

Total borrowings

     737,219        555,053   
  

 

 

   

 

 

 

Borrowings net of cash and cash equivalents

     587,417        496,499   
  

 

 

   

 

 

 

 

(a) Cash and cash equivalents include 3.7 million as of 30 September 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 €0.5 million as of 30 September 2016 were incurred in connection with the €100 million revolving facility.

 

18


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in €‘000 — except where stated otherwise)

(unaudited)

 

     Three Months Ended     For the nine months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2016     2015     2016     2015  

Net income

     10,461        10,415        29,845        36,427   

Depreciation, amortisation and impairments

     22,094        20,251        65,592        58,043   

Provision for onerous lease contracts

     (261     (879     (1,532     (2,653

Share-based paymens

     1,845        1,664        4,403        5,694   

Net finance expense

     8,628        6,407        26,756        20,938   

Income tax expense

     4,521        4,737        13,422        15,368   
  

 

 

   

 

 

   

 

 

   

 

 

 
     47,288        42,595        138,486        133,817   

Movements in trade receivables and other current assets

     (6,898     (216     (5,588     (9,581

Movements in trade payables and other liabilities

     1,135        584        (1,623     7,067   
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash generated from operations

     41,525        42,963        131,275        131,303   

Interest and fees paid (a)

     (18,357     (14,107     (33,779     (29,129

Interest received

     44        37        69        117   

Other financial items

     —          —          —          —     

Income tax paid

     (1,948     (4,107     (5,486     (9,167
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) operating activities

     21,264        24,786        92,079        93,124   

Cash flows from investing activities

        

Purchase of property plant and equipment

     (61,041     (33,399     (169,217     (145,628

Purchase of intangible assets

     (3,485     (1,871     (7,903     (5,047

Proceeds from sale of financial asset

     281        3,063        281        3,063   

Redemption of short-term investments

     —            —          1,650   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net cash flows from / (used in) investing activities

     (64,245     (32,207     (176,839     (145,962

Cash flows from financing activities

        

Proceeds from exercised options

     44        12        6,220        2,420   

Proceeds from mortgages

     —          —          14,625        —     

Repayment of mortgages

     (548     (320     (1,816     (1,360

Proceeds Senior secured notes at 6%

     —          —          155,346        —     

Interest received at issue of additional notes

     —          —          2,225        —     

Repayment of other borrowings

     —          (31     —          (31

Net cash flows from / (used in) financing activities

     (504     (339     176,600        1,029   

Effect of exchange rate changes on cash

     (187     692        (592     1,916   
  

 

 

   

 

 

   

 

 

   

 

 

 

Net increase / (decrease) in cash and cash equivalents

     (43,672     (7,068     91,248        (49,893

Cash and cash equivalents, beginning of period

     193,474        57,098        58,554        99,923   
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash and cash equivalents, end of period

     149,802        50,030        149,802        50,030   
  

 

 

   

 

 

   

 

 

   

 

 

 

 

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

 

19


LOGO

Press Release, 2 November 2016

 

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     For the nine months ended  
     Sep-30     Sep-30     Sep-30     Sep-30  
     2016     2015     2016     2015  

Net income - as reported

     10,461        10,415        29,845        36,427   

Add back

        

+ M&A transaction costs

     887        484        1,608        11,282   
  

 

 

   

 

 

   

 

 

   

 

 

 
     887        484        1,608        11,282   

Reverse

        

- M&A transaction break fee income

     —          —          —          (20,923

- Profit on sale of financial asset

     (281     (2,289     (281     (2,289

- Adjustment of financial lease obligation

     (1,410     —          (1,410     —     

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

     —          (84     —          (184

- Interest capitalised

     (1,255     (426     (2,421     (2,026
  

 

 

   

 

 

   

 

 

   

 

 

 
     (2,946     (2,799     (4,112     (25,422

Tax effect of above add backs & reversals

     162        579        274        3,535   
  

 

 

   

 

 

   

 

 

   

 

 

 

Adjusted net income

     8,564        8,679        27,615        25,822   
  

 

 

   

 

 

   

 

 

   

 

 

 

Reported basic EPS: (€)

     0.15        0.15        0.42        0.52   

Reported diluted EPS: (€)

     0.15        0.15        0.42        0.52   

Adjusted basic EPS: (€)

     0.12        0.12        0.39        0.37   

Adjusted diluted EPS: (€)

     0.12        0.12        0.39        0.37   

 

20


LOGO

Press Release, 2 November 2016

 

INTERXION HOLDING NV

Status of Announced Expansion Projects as at 2 November 2016

with Target Open Dates after 1 January 2016

 

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

Market

  

Project

   (€ million)     

(sqm)

  

Target Opening Dates

Amsterdam    AMS 8: Phases 1 - 2 New Build      50       2,700    4Q 2016 -1Q 2017(c)
Copenhagen    CPH2: Phases 1 - 2 New Build      19       1,100    2Q 2016 - 1Q 2017(d)
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 (e)
Frankfurt    FRA 10: Phases 1 - 4 New Build      92       4,800    1Q 2016 - 3Q 2016 (f)
Frankfurt    FRA 11: Phases 1 - 4 New Build      95       4,800    4Q 2017 - 2Q 2018 (g)
Marseille    MRS 1: Phase 2 (cont) - 3      30       2,200    3Q 2016 - 2Q 2017 (h)
Paris    PAR7: Phase 2      37       2,100    4Q 2016 - 2Q 2017 (i)
Vienna    VIE 2: New Build      65       4,200    4Q 2014 - 2Q 2017 (j)
Total       432       24,300   

 

(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 (1,400 square metres) is scheduled to become operational in 4Q 2016. Phase 2 (1,300 square metres) is scheduled to become operational in 1Q 2017.
(d) Phase 1 (500 square metres) became operational in 2Q 2016. Phase 2 (600 square metres) is scheduled to become operational in 1Q 2017.
(e) Phase 1 (600 square metres) became operational in 4Q 2015. Phase 2 (600 square metres) became operational in 2Q 2016.
(f) 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) became operational in 3Q 2016.
(g) Phases 1 and 2 (1,200 square metres each) are scheduled to become operational in 4Q 2017; phases 3 & 4 (1,200 square metres each) are scheduled to become operational in 2Q 2018.
(h) Phase 2 (cont.) (800 square metres) became operational in 3Q 2016. Phase 3 (1,400 square metres) is scheduled to become operational in 2Q 2017.
(i) The first 500 square metres is scheduled to become operational in 4Q 2016. The remaining 1,600 square metres is scheduled to become operational in 2Q 2017.
(j) 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 became operational in 3Q 2016; another 1,100 square metres is scheduled to become operational in 2Q 2017.

 

21

Presentation Materials

Slide 1

NYSE: INXN 2 Nov 2016 © Copyright Interxion Holding N.V., 2016. 3Q 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 income, 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

Strong Bookings Drive Expansions in Multiple Geographies Revenue grew 7% Y/Y, 1% Q/Q Grew 10% Y/Y constant currency Recurring revenue grew 8% Y/Y, 1% Q/Q Adjusted EBITDA grew 11% Y/Y, 2% Q/Q Adjusted EBITDA margin of 45.9%, increased by 130 bps Y/Y Capital expenditure of €64.5 million including intangibles Strong orders drove increased capex guidance in the quarter Financial Execution Completed expansions in Frankfurt, Marseille and Vienna Utilisation rate at 78% New data centre announced in Frankfurt (FRA11) Further expansions announced in Paris, Marseille and Copenhagen All announced expansions on schedule Operational Execution 3Q 2016 PERFORMANCE


Slide 5

Adjusted EBITDA & Margin (€ millions) Revenue (€ millions) 45.5% 45.9% 44.6% 44.6% Margin Non- recurring revenue Recurring revenue 3Q Revenue €105.3 million Grew 7% Y/Y and 1% Q/Q Grew 10% Y/Y and 2% Q/Q constant currency 3Q Recurring revenue €100.0 million Grew 8% Y/Y and 1% Q/Q Grew 10% Y/Y and 2% Q/Q constant currency 95% of total revenue 3Q Adjusted EBITDA €48.3 million Grew 11% Y/Y and 2% Q/Q 3Q Adjusted EBITDA margin 45.9% 10% Constant Currency Revenue Growth Coupled with Adjusted EBITDA Margin Increase 98.0 92.8 100.7 95.1 45.0% 3Q 2016 FINANCIAL HIGHLIGHTS 102.0 97.2 104.0 99.3 100.0 105.3


Slide 6

Equipped & Revenue Generating Space (1,000’s sqm) Utilisation 78% 78% 78% 78% Available Equipped space Revenue generating space 101.6 100.2 Strong Installations Balanced by New Capacity Maintains Utilisation Rate 101.2 79% Equipped space of 107,800 sqm 3,600 sqm added in the quarter Revenue generating space of 84,100 sqm 2,500 sqm installed in the quarter Utilisation rate of 78% 3Q 2016 OPERATIONAL HIGHLIGHTS 104.2 107.8


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 2,700 0 4Q16 - 1Q17 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 4,800 Complete Frankfurt FRA11 Phases 1-4 New Build 95 4,800 0 4Q17 – 2Q18 Marseille MRS1 Phases 2 (cont.) - 3 30 2,200 800 2Q17 Paris PAR7 Phase 2 37 2,100 0 4Q16 - 2Q17 Vienna VIE2 Phases 1-6 New Build 65 4,200 3,100 2Q17 Announced Projects With Current or Pending Expansions(1) (See Appendix for further information) Completed expansions: FRA10: opened 2,400 sqm MRS1: opened 800 sqm VIE2: opened 300 sqm Recently announced expansions: FRA11: 4,800 sqm new data centre PAR7.2: further 1,000 sqm MRS1.3: 1,400 sqm Expansions totalling approximately 15,100 sqm opening in 2H16– 2017 EXPANDING FACILITIES TO SUPPORT CUSTOMER DEMAND As of 2 November 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% 9% 11% Connectivity Providers Cloud Providers Systems Integrators Financial Services Digital Media / CDNs Enterprises Platforms Data / End-user applications 9% 29% 31% Foundational Segments Enhance Communities of Interest = % of September 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) 3Q 2015 2Q 2016 3Q 2016 3Q 2016 vs. 3Q 2015 3Q 2016 vs. 2Q 2016 Recurring revenue 92.8 99.3 100.0 8% 1% Non-recurring revenue 5.2 4.7 5.3 1% 13% Revenue 98.0 104.0 105.3 7% 1% Gross profit 59.5 64.4 64.5 8% >0% Gross profit margin 60.7% 61.9% 61.3% +60bps -60 bps Adjusted EBITDA(1) 43.7 47.3 48.3 11% 2%% Adjusted EBITDA(1) margin 44.6% 45.5% 45.9% +130 bps +40 bps Net income 10.4 9.2 10.5 0.4% 14% EPS (diluted) €0.15 €0.13 €0.15 0% 15% Adjusted net income(1) 8.7 9.0 8.6 (1%) (5%) Adjusted EPS (diluted)(1) €0.12 €0.13 €0.12 (2%) (5%) Revenue grew 7% Y/Y and 1% Q/Q Constant currency revenue grew 10% Y/Y and 2% Q/Q GBP approximately 10% of 3Q 2016 revenue Gross profit margin grew to 61.3%, up 60 bps Y/Y Adjusted EBITDA(1) margin grew to 45.9%, up 130 bps Y/Y 3Q 2016 RESULTS Adjusted EBITDA, adjusted net income, 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 income to Net income can be found in the financial tables later in the appendix of this slide deck.


Slide 11

55.2 % 53.7 % 55.0% 56.9 % 57.9 % 58.3% Revenue grew 10% Y/Y, 2% Q/Q Recurring revenue grew 9% Y/Y, 2% Q/Q 9% Y/Y and 2% Q/Q constant currency Adjusted EBITDA grew 13% Y/Y, 4% Q/Q Strength in Austria, Spain and Sweden Revenue grew 6% Y/Y, 1% Q/Q Recurring revenue grew 7% Y/Y, 0.1% Q/Q 11% Y/Y and 1% Q/Q constant currency Adjusted EBITDA grew 5% Y/Y, (0.6%) Q/Q Strength in Germany, France 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 3Q 2016 REPORTING SEGMENT ANALYSIS Note: Analysis excludes “Corporate & Other” segment. 55.2% 59.0% 55.8% 57.3%


Slide 12

Capital Expenditures, including Intangible Assets By Geography (3Q 2016) By Category (3Q 2016) (€ millions) (€ millions) (€ millions) Increased Capital Expenditure Guidance to Support Order Driven Expansions DISCIPLINED INVESTMENTS FOR PROFITABLE GROWTH 64.5 78% 78% 78% 79% 78% 78% Utilisation


Slide 13

Cash position and growing operating cash flow fully funds expansions €100 million RCF remains undrawn 5.7% blended cost of debt 3Q 2016 LTM Cash ROGIC 12% € millions 30-Sept-16 31-Dec-15 Cash & Cash Equivalents 149.8 58.6 Total Borrowings(1) 737.2 555.1 Shareholders Equity 535.8 507.4 Total Capitalisation 1,273.0 1,062.5 Total Borrowings / Total Capitalisation 57.9% 52.2% Gross Leverage Ratio(2) 3.9x 3.3x Net Leverage Ratio(3) 3.1x 2.9x STRONG BALANCE SHEET Ample Liquidity Provides Flexibility 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 (€ millions) 24% Q3 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 Sept 2016.


Slide 15

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% 46% TRACK RECORD OF EXECUTION 40 Consecutive Quarters of Organic Revenue and Adjusted EBITDA Growth CAGR calculated as 3Q16 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% 7% Big 4 %(2) 60% 60% 60% 58% 60% 60% 59% 62% 61% 62% 62% 62% 63% 63% 62% 63% 63% 62% 63% 63% 63% 63% 65% 64% 64% 64% 65%


Slide 16

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


Slide 17

DEMAND PATTERNS UNFOLDING IN EUROPE & US Deployments are smaller and more geographically distributed in Europe than in the US Waves of demand are more asynchronous in Europe than in the US Resulting growth is more linear in Europe compared to the US Illustrative Compute Node Deployment Patterns in Europe & US


Slide 18

Range (in € millions) Revenue Adjusted EBITDA(1) Capital Expenditures 416 — 431 185 — 195 260 — 280 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

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.).


Slide 22

€ in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY                       Recurring revenue 75.9 78.7 80.9 83.7 87.1 90.3 92.8 95.1 97.2 99.3 100.0 319.2 365.2 Non-recurring revenue 4.7 4.9 5.6 6.2 5.4 5.2 5.2 5.6 4.8 4.7 5.3 21.4 21.4 Total revenue 80.6 83.6 86.4 89.9 92.5 95.4 98.0 100.7 102.0 104.0 105.3 340.6 386.6 Gross profit 48.0 49.6 50.9 53.0 56.2 57.8 59.5 61.4 62.9 64.4 64.5 201.6 234.9 Gross profit margin 59.6% 59.4% 58.9% 58.9% 60.8% 60.5% 60.7% 61.1% 61.6% 61.9% 61.3% 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 48.3 146.4 171.3 Adj EBITDA Margin 42.9% 42.9% 43.1% 43.0% 43.9% 44.0% 44.6% 44.6% 45.0% 45.5% 45.9% 43.0% 44.3% Net income 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) 10.5(1) (2) 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 64.5 216.3 192.6 Expansion/upgrade 52.7 51.0 51.2 43.7 64.2 44.3 30.4 36.9 45.3 56.3 58.8 198.7 175.7 Maintenance & other 3.7 2.6 5.0 2.9 1.1 2.6 3.0 3.6 2.1 4.4 2.2 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 3.5 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) (2) 38.1(1) 50.4(1) 39.3(1) 41.6(1) (2) 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 1,581,1 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 41.2 28.0 34.6 LTM Cash ROGIC 13% 12% 12% 11% 12% 12% 12% 12% 12% 11% 12% 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, €0.5 million and €0.9 million of M&A transaction cost in 1Q15, 2Q15, 3Q15, 4Q15, 1Q16, 2Q16, and 3Q16 respectively; also includes € 20.9 million M&A transaction break fee income in 2Q15. Includes gain on sale of financial asset.


Slide 23

€ in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 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 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 3.1 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 66.9 214.2 246.9 Gross profit margin 61.8% 61.2% 60.5% 60.1% 62.0% 62.6% 62.3% 62.0% 62.4% 63.4% 62.6% 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 36.8 113.4 134.3 Adj EBITDA margin 53.8% 53.4% 53.3% 51.4% 53.5% 55.1% 55.2% 53.7% 55.2% 55.8% 55.0% 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 36.2 118.6 132.6 Non-recurring revenue 1.6 2.0 1.7 2.5 1.8 2.2 1.5 1.7 1.5 2.1 2.2 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 38.4 126.4 139.6 Gross profit margin 62.2% 62.3% 61.5% 62.3% 64.6% 63.6% 64.3% 65.9% 66.9% 65.8% 65.2% 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 22.4 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% 58.3% 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) (10.8) (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 24

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 3Q                     Equipped space 82,900 86,000 88,600 93,500 94,800 98,300 100,200 101,200 101,600 104,200 107,800 Equipped space added 2,800 3,100 2,600 4,900 1,300 3,500 1,900 1,000 400 2,600 3,600 Revenue generating space 61,400 64,300 68,500 71,000 74,000 77,100 78,000 79,100 80,400 81,600 84,100 RGS added 1,700 2,900 4,200 2,500 3,000 3,100 900 1,100 1,300 1,200 2,500 Recurring ARPU 418 418 406 400 400 398 399 403 406 409 402 Utilisation (%)(2) 74% 75% 77% 76% 78% 78% 78% 78% 79% 78% 78% Equipped customer power 86 90 96 99 109 114 116 118 120 123 129 Maximum equippable customer power 139 139 145 145 153 154 177 179 178 178 187 Data centres in operation 36 37 38 40 39 40 40 41 41 42 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.


Slide 25

Space figures in square metres(1) 2014 2015 2016E(2) 2017E(2) 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4QE 1QE 2QE 3QE 4QE BIG 4 France ‒ ‒ ‒ 600  ‒ ‒ 900 ‒ ‒ ‒ 800 500 ‒ 3,000 ‒ ‒ Germany  800 1,800  100 1,800  ‒  400 100 600 1,200 1,800 2,400 ‒ ‒ ‒ ‒ 2,400 Netherlands(3) 1,100 1,000 1,500 1,300  700 1,300 ‒ ‒ (700) ‒ ‒ 1,400 1,300 ‒ ‒ ‒ UK  ‒  100  100 ‒  ‒ ‒ 100 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ Subtotal 1,900 2,900 1,700 3,700 700 1,700 1,100 600 400 1,800 3,200 1,900 1,300 3,000 ‒ 2,400 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 ‒ 700 300 1,200 600 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 3,600 3,100 1,900 4,100 ‒ 2,400 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. 2,400 sqm currently announced to open in 2018. 8,400 Sqm in 2017 9,700 Sqm in 2016 7,700Sqm in 2015 13,400 Sqm in 2014


Slide 26

Space figures in square metres(1) Data Centres in Operation / under Construction Maximum Equippable Space in Country (incl DC’s under construction) Equipped Space in Country Equipped Space Under Construction in Country(2) Unequipped Space Available for Development BIG 4 France 8 28,600 19,800 3,500 5,200 Germany 13 29,100 24,200 4,800 100 Netherlands(3) 7 27,900 19,900 2,700 5,300 UK 2 6,800 6,800 0 0 REST OF EUROPE Austria 2 10,900 7,900 1,100 1,900 Belgium 1 5,100 5,000 0 100 Denmark 2 5,400 4,300 600 500 Ireland 3 5,800 3,400 1,200 1,200 Spain 2 5,700 5,700 0 0 Sweden 4 5,100 4,900 0 200 Switzerland 1 7,100 5,800 0 1,300 Total 45 137,500 107,800 13,900 15,800 COUNTRY ANALYSIS 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; Includes sites on owned and available land, under lease agreements, and options Maximum Equippable Space (incl DC’s under construction) = Equipped Space + Under Construction Space + Unequipped Space


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 September 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 7,900 PAR7 Finance Lease(4) Expanding 9,300 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 FRA11 Owned Under Construction 4,800 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 TOTAL 137,500 Totals: # sqm %         Owned 13 53,000 38.5% Finance Lease 3 24,800 18.0% Operating Lease 29 59,700 43.4% Total 45 137,500 100.0%


Slide 28

Reconciliation to adjusted net income   € in millions (except as noted) 2014 2015 2016 2014 2015 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q FY FY   Net income – as reported 10.4 8.3 9.0 7.4 4.4 21.6 10.4 12.1 10.2 9.2 10.5 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 0.9 0.3 11.8  ‒ 0.6 ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 0.9 0.9 11.8 Reverse - M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ ‒ ‒ ‒ ‒ (20.9) - Profit on sale of financial asset ‒ ‒ ‒ ‒ ‒ ‒ (2.3) ‒ ‒ ‒ (0.3) (2.3) - Adjustment for onerous leases ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ ‒ ‒ ‒ (0.8) (0.2) - Adjustment of finance lease obligation (1.4) - Interest capitalised (0.8) (0.8) (1.3) (0.6) (0.9) (0.7) (0.4) (0.6) (0.5) (0.7) (1.3) (3.6) (2.6)   (0.8) (1.6) (1.3) (0.6) (1.0) (21.6) (2.8) (0.6) (0.5) (0.7) (3.0) (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 0.2 0.9 3.5 Adjusted net income   9.8 7.6 8.0 7.2 8.9 8.3 8.7 12.1 10.0 9.0 8.6 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 0.15 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 0.15 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 0.12 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 0.12 0.46 0.54 ADJUSTED NET INCOME RECONCILIATION Note: Figures rounded to nearest net € 0.1 Million. Totals may not add due to rounding.


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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 3Q                           Net income (4.7) 4.0 5.9 9.5 2.8 5.2 6.9 10.6 8.7 8.7 8.6 5.6 7.0 6.6 (16.5)(1) 9.8 10.4 8.3 9.0 7.4 4.4 21.6 10.4 12.1 10.2 9.2 10.5 Income tax expense / (benefit) 1.2 2.9 1.6 (3.2) 2.3 2.3 3.2 1.9 3.9 4.1 4.3 3.5 3.4 3.1 (4.1) 3.7 4.2 3.9 3.9 3.5 2.4 8.2 4.7 2.6 4.7 4.2 4.5 Profit / (loss) before taxation (3.5) 6.9 7.5 6.3 5.1 7.5 10.1 12.6 12.6 12.9 12.8 9.1 10.3 9.7 (20.6) 13.4 14.6 12.2 12.8 10.8 6.8 29.8 15.2 14.7 14.9 13.4 15.0 Net finance expense 13.5 4.8 5.1 6.1 6.6 6.0 5.3 5.0 4.4 3.9 3.8 5.7 6.5 7.3 38.1(1) 5.6 5.4 7.5 7.0 8.0 6.6 7.9 6.4 8.1 8.0 10.2 8.6 Operating profit 10.0 11.7 12.6 12.4   11.7 13.5 15.3 17.5   17.1 16.7 16.6 14.8 16.8 17.1 17.5 19.0 20.0 19.7 19.8 18.8 13.4 37.7 21.6 22.8 22.9 23.5 23.6 Depreciation, amortisation and impairments 7.2 7.5 7.8 8.6 8.5 9.6 9.1 8.4 9.7 10.2 11.0 13.1 14.0 14.9 15.2 13.5 14.0 14.9 16.0 17.3 18.2 19.6 20.3 20.2 21.5 22.0 22.1 EBITDA 17.2 19.2 20.4 21.0   20.3 23.1 24.4 25.9   26.7 27.0 27.6 27.8 30.8 32.0 32.7 32.5 34.0 34.6 35.9 36.2 31.6 57.3 41.8 43.0 44.4 45.6 45.7 Share-based payments 0.3 0.4 0.4 0.6 0.3 0.3 0.7 1.3 0.7 0.9 1.2 2.6 1.0 0.8 1.1 1.3 0.6 2.1 1.5 2.3 2.2 1.8 1.7 1.5 1.4 1.3 1.8 Increase/(decrease) in provision for onerous lease contracts 0.1 0.1 0.1 (0.1) 0.0 ‒ ‒ ‒ ‒ ‒ ‒ 0.8 ‒ ‒ - ‒ ‒ (0.8) ‒ ‒ (0.1) ‒ (0.1) ‒ ‒ ‒ ‒ IPO transaction costs ‒ ‒ ‒ ‒ 1.7 ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - - - M&A transaction break fee income ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ ‒ ‒ (20.9) ‒ ‒ - - - M&A transaction costs ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ ‒ - ‒ ‒ ‒ ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 0.9 Income from sub-leases on unused data centre sites (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.1) (0.0) (0.0) Adjusted EBITDA 17.4 19.6 20.8 21.4   22.2 23.3 25.0 27.1   27.3 27.8 28.7 31.2 31.7 32.7 33.7 33.8 34.5 35.9 37.3 38.7 40.6 42.0 43.7 44.9 45.9 47.3 48.3 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 income 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 3Q           BIG 4         Operating profit 18.3 18.7 18.4 17.6 19.5 20.3 21.7 21.7 21.7 22.4 21.9 Depreciation, amortisation and impairments 8.9 9.5 10.5 11.2 11.7 12.5 13.1 13.0 14.3 14.5 14.8 EBITDA 27.2 28.3 28.9 28.7 31.2 32.9 34.8 34.7 36.0 36.9 36.7 Share-based payments 0.2 0.5 0.3 0.4 0.3 0.5 0.4 0.2 0.3 0.1 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) (0.0) Adjusted EBITDA 27.3 27.9 29.2 29.0 31.4 33.2 34.9 34.8 36.2 36.9 36.8   ROE Operating profit 11.5 11.8 11.9 12.6 13.3 13.2 13.5 14.4 15.3 15.1 16.0 Depreciation, amortisation and impairments 4.3 4.5 4.6 5.1 5.4 5.9 6.1 6.2 6.1 6.4 6.3 EBITDA 15.7 16.3 16.5 17.8 18.8 19.1 19.6 20.6 21.4 21.5 22.3 Share-based payments 0.1 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.1 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 22.4   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) (14.3) Depreciation, amortisation and impairments 0.8 0.8 0.9 1.0 1.1 1.1 1.1 1.0 1.0 1.1 1.0 EBITDA (9.0) (10.0) (9.6) (10.4) (18.3) 5.3 (12.5) (12.3) (13.0) (12.8) (13.3) Share-based payments 0.4 1.4 0.8 1.7 1.7 1.1 1.1 1.1 1.0 1.1 1.6 M&A transaction costs ‒ ‒ ‒ 0.3 6.9 3.9 0.5 0.6 0.2 0.5 0.9 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) (10.8) 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)} Constant Currency: Measurements of the given metric that eliminate the effects of foreign currency rate fluctuations. To calculate this information, current and comparative prior period results for entities reporting in currencies other than Euro are converted into Euro using the average exchange rates from the comparative period rather than the actual exchange rates in effect during the respective periods.  Corporate and Other: Unallocated items comprised of mainly general and administrative expenses, assets and liabilities associated with our headquarters operations, provisions for onerous contracts (relating to the discounted amount of future losses expected to be incurred in respect of unused data centre sites over the term of the relevant leases) and revenue and expenses related to those onerous contracts, loans and borrowings and related expenses and income tax assets and liabilities CDNs: Content Distribution Networks Churn: contracted Monthly Recurring Revenue which came to an end during the month as a percentage of the total contracted Monthly Recurring Revenue at the beginning of the month Definitions


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Customer Available Power: the current installed electrical customer capacity Equipped Space: the amount of data centre space that, on the relevant date, is equipped and either sold or could be sold, without making any significant additional investments to common infrastructure. IAAS: Infrastructure as a Service LTM: Last Twelve Months ended 30 September 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