SYS-CON MEDIA Authors: Gilad Parann-Nissany, Srinivasan Sundara Rajan, Sean Houghton, Glenn Rossman, Ignacio M. Llorente

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Interxion Reports Second Quarter 2014 Results

Interxion Holding NV (NYSE: INXN), a leading European provider of cloud and carrier-neutral colocation data centre services, today announced its results for the three months ended 30 June 2014.

Financial Highlights

  • Revenue increased by 9% to €83.6 million (Q2 2013: €76.5 million).
  • Adjusted EBITDA increased by 10% to €35.9 million (Q2 2013: €32.7 million).
  • Adjusted EBITDA margin increased to 42.9% (Q2 2013: 42.8%).
  • Net profit increased by 26% to €8.3 million (Q2 2013: €6.6 million).
  • Capital expenditure, including intangible assets, was €54.4 million.
  • In the quarter Interxion issued €150.0 million of 6.00% Senior Secured Notes due 2020 at 106.75.
  • We are increasing our capital expenditure guidance for the full year to €200 million - €230 million.

Operating Highlights

  • New data centre opened in Frankfurt and expansion in Amsterdam.
  • Equipped Space increased by 3,100 square metres to 86,000 square metres.
  • Revenue Generating Space increased by 2,900 square metres to 64,300 square metres.
  • Utilisation Rate at the end of the quarter was 75%.
  • Signed an agreement to purchase a data centre in Marseille, France.

“Interxion delivered another quarter of solid operating and financial results, with strong bookings, increasing revenue growth, stable recurring ARPU, and significant additions to both equipped space and revenue generating space,” said Interxion Chief Executive Officer, David Ruberg. “We are optimistic in market trends, and based on our order backlog, we are confident in our execution.”

Quarterly Review

Revenue in the second quarter of 2014 was €83.6 million, a 9% increase over the second quarter of 2013 and a 4% increase over the first quarter of 2014. Recurring revenue was €78.7 million, a 9% increase over the second quarter of 2013 and a 4% increase over the first quarter of 2014.

Cost of sales in the second quarter of 2014 was €34.0 million, a 9% increase over the second quarter of 2013 and a 4% increase over the first quarter of 2014.

Gross profit was €49.6 million in the second quarter of 2014, a 10% increase over the second quarter of 2013 and a 3% increase over the first quarter of 2014. Gross profit margin in the second quarter of 2014 was 59.4%, compared with 59.1% in the second quarter of 2013 and 59.6% in the first quarter of 2014.

Sales and marketing costs in the second quarter of 2014 were €6.2 million, a 13% increase over the second quarter of 2013 and a 6% increase from the first quarter of 2014.

General and administrative costs1 in the second quarter of 2014 were €7.6 million, an 8% increase compared with the second quarter of 2013 and a 1% decrease over the first quarter of 2014. Depreciation and amortisation in the second quarter of 2014 was €14.9 million, a slight decrease compared with the second quarter of 2013 and a 6% increase over the first quarter of 2014.

Net financing costs in the second quarter of 2014 were €7.5 million, a 2% increase compared with the second quarter of 2013 and a 39% increase over the first quarter of 2014. During the second quarter of 2014, Interxion issued €150 million of 6.00% Senior Secured Notes due 2020 at 106.75.

Income tax expense was €3.9 million in the second quarter of 2014, a 25% increase over the second quarter of 2013 and a 7% decrease from the first quarter of 2014. The underlying effective tax rate for the quarter was 32% compared with 32% in the same period last year.

Net profit was €8.3 million in the second quarter of 2014, a 26% increase over the second quarter 2013 and a 20% decrease over the first quarter of 2014. Earnings per share were €0.12 on a weighted average of 69.8 million diluted shares in the second quarter of 2014. This result compares with earnings per share of €0.10 on a weighted average of 69.4 million diluted shares in the second quarter of 2013, and earnings per share of €0.15 on a weighted average of 69.6 million diluted shares in the first quarter of 2014. Adjusted diluted earnings per share2 for the second quarter of 2014 were €0.11, compared with €0.09 for the second quarter of 2013 and €0.14 for the first quarter of 2014.

Adjusted EBITDA in the second quarter of 2014 was €35.9 million, a 10% increase over the second quarter of 2013 and a 4% increase over the first quarter of 2014. Adjusted EBITDA margin was 42.9%, compared with 42.8% in the second quarter of 2013 and 42.9% in the first quarter of 2014.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €26.9 million in the second quarter of 2014, a 12% increase over the second quarter of 2013 and a 21% decrease over the first quarter of 2014. Capital expenditure, including intangible assets, was €54.4 million in the second quarter of 2014, compared with €28.8 million in the second quarter of 2013 and €57.0 million in the first quarter of 2014.

Cash and cash equivalents were €151.9 million at 30 June 2014, up from €45.7 million at year-end 2013, principally due to the Company adding a further €150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020, issued at 106.75 and resulting in net cash proceeds of €157.9 million, net of estimated offering fees and expenses of €2.3 million. Total borrowings, net of deferred revolving facility financing fees, were €529.6 million at the end of the second quarter of 2014, compared with €362.7 million at the end of 2013. During the quarter the Company terminated its €100 million interim senior secured facility, which it entered into on 14 April 2014, and repaid the €30.0 million balance on its revolving credit facility.

Equipped Space at the end of the second quarter of 2014 was 86,000 square metres, compared with 78,900 square metres at the end of the second quarter of 2013 and 82,900 square metres at the end of the first quarter of 2014.

  • AMS7 (Amsterdam): Phase 2 (1,000 square metres) became operational in 2Q 2014; phase 3 (1,300 square metres) is scheduled for 4Q 2014; phase 4 (1,300 square metres) is scheduled for 1Q 2015; phases 5 and 6 (1,300 square metres each) are scheduled for 2Q 2015.
  • FRA8 (Frankfurt): Phases 1 and 2 (900 square metres each) became operational in the second quarter of 2014; phases 3 and 4 (900 square metres each) are scheduled for 1Q 2015.
  • MRS1 (Marseille): Phases 1 and 2 (500 square metres each) are scheduled for 4Q 2014 and 1Q 2015, respectively.
  • STO3 (Stockholm): 900 square metres are scheduled to open in 4Q 2014.
  • VIE2 (Vienna): Phase 1 (600 square metres) is scheduled to be operational in 4Q 2014; phase 2 is scheduled to open 300 square metres in 1Q 2015 and the remaining 300 square metres in 2Q 2015.

Revenue Generating Space at the end of the second quarter of 2014 was 64,300 square metres, compared with 58,200 square metres at the end of the second quarter of 2013 and 61,400 square metres at the end of the first quarter of 2014. Utilisation Rate, the ratio of Revenue Generating Space to Equipped Space, was 75% at the end of the second quarter of 2014, compared with 74% at the end of the second quarter of 2013 and 74% at the end of the first quarter of 2014.

As recently announced, the Company signed an agreement with Société Française du Radiotéléphone – SFR SA (“SFR”) to purchase their data centre facilities in Marseille, France. The transaction is scheduled to close in the third quarter of 2014. The company has increased its 2014 capex expenditure guidance to accommodate this transaction.

Business Outlook

Interxion today reaffirmed its Revenue and Adjusted EBITDA guidance and increased its capital expenditure guidance for 2014:

 
Revenue €334 million - €344 million
Adjusted EBITDA €145 million - €152 million
Capital expenditure (including intangibles) €200 million - €230 million
 

Conference Call to Discuss Results

The Company will host a conference call today at 8:30am EDT (1:30pm BST and 2:30pm CET) to discuss the results.

To participate on this call, U.S. callers may dial toll free 1-866-966-9439; callers outside the U.S. may dial direct +44 (0) 1452 555 566. The conference ID for this call is 72033118. 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 12 August 2014. 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 72033118.

Forward-looking Statements

This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the difficulty of reducing operating expenses in the short term, 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, and other risks described from time to time in Interxion's filings with the Securities and Exchange Commission. Interxion does not assume any obligation to update the forward-looking information contained in this press release.

Use of Non-IFRS Information

EBITDA is defined as operating profit plus depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous lease contracts, and income from sub-leases on unused data centre sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional information because we understand that they are measures used by certain investors and because they are used in our financial covenants in our €100 million revolving facility and €475 million 6.00% Senior Secured Notes due 2020. Other companies, however, may present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin differently than we do. EBITDA, Adjusted EBITDA and Adjusted EBITDA margin 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 net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS.

A reconciliation from Net profit to EBITDA and EBITDA to Adjusted EBITDA is provided in the notes to our consolidated income statement included elsewhere in this press release.

Adjusted diluted earnings per share amounts are determined on Adjusted Net Profit. We define Adjusted Net Profit as net profit/loss excluding the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and the related corporate income tax effect. A reconciliation from reported Net Profit to Adjusted Net Profit is included elsewhere in this press release.

Interxion does not provide forward-looking estimates of Net profit, Operating profit, depreciation, amortisation, and impairments, share-based payments, or increase/decrease in provision for onerous lease contracts, and income from sub-leases on 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.

About Interxion

Interxion (NYSE: INXN) is a leading provider of cloud and carrier-neutral colocation data centre services in Europe, serving a wide range of customers through 37 data centres in 11 European countries. Interxion’s data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by over 500 connectivity providers and 20 European Internet exchanges across its footprint, Interxion has created cloud, content, finance and connectivity hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.

1 Excluding depreciation, amortisation, impairments, increase/(decrease) in provision for onerous lease contracts, and share-based payments.

2 Diluted earnings per share adjusted for the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and the related corporate income tax effect.

 
INTERXION HOLDING NV
CONSOLIDATED INCOME STATEMENT
(in €'000 ― except per share data and where stated otherwise)
(unaudited)
       
Three Months Ended Six Months Ended
30 Jun 30 Jun 30 Jun 30 Jun
2014 2013 2014 2013
 
Revenue 83,646 76,527 164,256 150,906
Cost of sales (33,998 ) (31,294 ) (66,576 ) (60,909 )
Gross profit 49,648 45,233 97,680 89,997
Other income 50 70 110 193
Sales and marketing costs (6,215 ) (5,492 ) (12,095 ) (10,987 )
General and administrative costs (23,757 ) (22,751 ) (45,988 ) (45,367 )
       
Operating profit 19,726 17,060 39,707 33,836
Net finance expense (7,488 ) (7,330 ) (12,889 ) (13,781 )
       
Profit before taxation 12,238 9,730 26,818 20,055
Income tax expense (3,916 ) (3,130 ) (8,137 ) (6,485 )
Net profit 8,322   6,600   18,681   13,570  
 
Basic earnings per share: (€) 0.12 0.10 0.27 0.20
Diluted earnings per share: (€) 0.12 0.10 0.27 0.20
 
 
Number of shares outstanding at the end of the period (shares in thousands) 69,029 68,667 69,029 68,667
Weighted average number of shares for Basic EPS (shares in thousands) 68,962 68,533 68,917 68,380
Weighted average number of shares for Diluted EPS (shares in thousands) 69,773 69,375 69,708 69,224
 
 
As at
30 Jun 30 Jun
Capacity metrics 2014 2013
Equipped space (in square meters) 86,000 78,900
Revenue generating space (in square meters) 64,300 58,200
Utilisation rate 75 % 74 %
 
 
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION
(in €'000 ― except where stated otherwise)
(unaudited)
       
Three Months Ended Six Months Ended
30 Jun 30 Jun 30 Jun 30 Jun
2014 2013 2014 2013

Consolidated

 
Recurring revenue 78,732 72,194 154,603 143,150
Non-recurring revenue 4,914   4,333   9,653   7,756  
Revenue 83,646   76,527   164,256   150,906  
Adjusted EBITDA 35,866   32,731   70,411   64,404  
Gross margin 59.4 % 59.1 % 59.5 % 59.6 %
Adjusted EBITDA margin 42.9 % 42.8 % 42.9 % 42.7 %
 
Total assets 1,105,515 838,198 1,105,515 838,198
Total liabilities 693,538 447,890 693,538 447,890
Capital expenditure, including intangible assets (i) (54,410 ) (28,779 ) (111,415 ) (61,568 )
 

France, Germany, the Netherlands, and the UK

 
Recurring revenue 49,339 45,187 96,979 89,635
Non-recurring revenue 2,871   3,064   6,003   5,202  
Revenue 52,210   48,251   102,982   94,837  
Adjusted EBITDA 27,888   26,037   55,182   51,204  
Gross margin 61.2 % 62.1 % 61.5 % 62.6 %
Adjusted EBITDA margin 53.4 % 54.0 % 53.6 % 54.0 %
 
Total assets 701,196 567,593 701,196 567,593
Total liabilities 144,040 131,080 144,040 131,080
Capital expenditure, including intangible assets (i) (35,581 ) (21,028 ) (79,173 ) (41,721 )
 

Rest of Europe

 
Recurring revenue 29,393 27,007 57,624 53,515
Non-recurring revenue 2,043   1,269   3,650   2,554  
Revenue 31,436   28,276   61,274   56,069  
Adjusted EBITDA 16,633   14,727   32,431   29,191  
Gross margin 62.3 % 61.4 % 62.2 % 61.4 %
Adjusted EBITDA margin 52.9 % 52.1 % 52.9 % 52.1 %
 
Total assets 248,112 203,229 248,112 203,229
Total liabilities 50,891 39,935 50,891 39,935
Capital expenditure, including intangible assets (i) (17,269 ) (7,305 ) (29,952 ) (18,554 )
 

Corporate and other

       
Adjusted EBITDA (8,655 ) (8,033 ) (17,202 ) (15,991 )
 
Total assets 156,207 67,376 156,207 67,376
Total liabilities 498,607 276,875 498,607 276,875
Capital expenditure, including intangible assets (i) (1,560 ) (446 ) (2,290 ) (1,293 )
 
 

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

 

 
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED EBITDA RECONCILIATION
(in €'000 ― except where stated otherwise)
(unaudited)
       
Three Months Ended Six Months Ended
30 Jun 30 Jun 30 Jun 30 Jun
2014 2013 2014 2013
 
 

Reconciliation to Adjusted EBITDA

 

Consolidated

 
Net profit 8,322 6,600 18,681 13,570
Income tax expense 3,916   3,130   8,137   6,485  
Profit before taxation 12,238 9,730 26,818 20,055
Net finance expense 7,488   7,330   12,889   13,781  
Operating profit 19,726 17,060 39,707 33,836
Depreciation, amortisation and impairments 14,864   14,916   28,845   28,927  
EBITDA 34,590 31,976 68,552 62,763
Share-based payments 2,131 825 2,774 1,834
Increase/(decrease) in provision for onerous lease contracts (805 ) - (805 ) -
Income from sub-leases on unused data center sites (50 ) (70 ) (110 ) (193 )
Adjusted EBITDA 35,866   32,731   70,411   64,404  
 

France, Germany, the Netherlands, and the UK

 
Operating profit 18,748 16,314 37,032 32,226
Depreciation, amortisation and impairments 9,521   9,784   18,440   18,907  
EBITDA 28,269 26,098 55,472 51,133
Share-based payments 474 9 625 264
Increase/(decrease) in provision for onerous lease contracts (805 ) - (805 ) -
Income from sub-leases on unused data center sites (50 ) (70 ) (110 ) (193 )
Adjusted EBITDA 27,888   26,037   55,182   51,204  
 

Rest of Europe

 
Operating profit 11,833 10,242 23,301 20,417
Depreciation, amortisation and impairments 4,496   4,411   8,776   8,594  
EBITDA 16,329 14,653 32,077 29,011
Share-based payments 304   74   354   180  
Adjusted EBITDA 16,633   14,727   32,431   29,191  
 

Corporate and Other

 
Operating profit/(loss) (10,855 ) (9,496 ) (20,626 ) (18,807 )
Depreciation, amortisation and impairments 847   721   1,629   1,426  
EBITDA (10,008 ) (8,775 ) (18,997 ) (17,381 )
Share-based payments 1,353   742   1,795   1,390  
Adjusted EBITDA (8,655 ) (8,033 ) (17,202 ) (15,991 )
 
   
INTERXION HOLDING NV
CONSOLIDATED BALANCE SHEET
(in €'000 ― except where stated otherwise)
(unaudited)
 
As at
30 Jun 31 Dec
2014 2013
Non-current assets
Property, plant and equipment 789,363 698,748
Intangible assets 18,229 17,878
Deferred tax assets 32,092 34,446
Financial assets 774 774
Other non-current assets 5,278   16,536  
845,736 768,382
Current assets
Trade and other current assets 107,899 96,703
Cash and cash equivalents 151,880   45,690  
259,779   142,393  
Total assets 1,105,515   910,775  
 
Shareholders’ equity
Share capital 6,903 6,887
Share premium 489,238 485,347
Foreign currency translation reserve 8,429 6,757
Hedging reserve, net of tax (125 ) 60
Accumulated deficit (92,468 ) (111,149 )
411,977 387,902
Non-current liabilities
Trade payables and other liabilities 11,537 11,537
Deferred tax liabilities 5,722 4,147
Provision for onerous lease contracts 3,149 4,855
Borrowings 528,390   362,209  
548,798 382,748
Current liabilities
Trade payables and other liabilities 134,488 132,093
Income tax liabilities 4,481 2,229
Provision for onerous lease contracts 3,402 4,020
Borrowings 2,369   1,783  
144,740   140,125  
Total liabilities 693,538   522,873  
Total liabilities and shareholders’ equity 1,105,515   910,775  
 
   
INTERXION HOLDING NV
NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS
(in €'000 ― except where stated otherwise)
(unaudited)
 
As at
30 Jun 31 Dec
2014 2013
 
 

Borrowings net of cash and cash equivalents

 
Cash and cash equivalents (ii) 151,880   45,690  
 
6.00% Senior Secured Notes due 2020 (iii) 475,811 317,610
Mortgages 32,756 24,257
Financial leases 20,587 20,520
Other borrowings 1,605   1,605  
Borrowings excluding Revolving Facility deferred financing costs 530,759   363,992  
Revolving Facility deferred financing costs (iv) (1,137 ) (1,258 )
Total borrowings 529,622   362,734  
   
Borrowings net of cash and cash equivalents 377,742   317,044  
 
 

(ii) Cash and cash equivalents include €4.2 million as of 30 June 2014 and €4.1 million as of 31 December 2013, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.

(iii) €475 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. On 29 April 2014, the Company completed the issuance of €150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (the “Additional Notes”).

(iv) Deferred financing costs of €1.1 million as of 30 June 2014 were incurred in connection with the €100 million revolving facility.
 
       
INTERXION HOLDING NV
CONSOLIDATED STATEMENT OF CASH FLOWS
(in €'000 ― except where stated otherwise)
(unaudited)
 
Three Months Ended Six Months Ended
30 Jun 30 Jun 30 Jun 30 Jun
2014 2013 2014 2013
 
 
Profit for the period 8,322 6,600 18,681 13,570
Depreciation, amortisation and impairments 14,864 14,916 28,845 28,927
Provision for onerous lease contracts (1,635 ) (805 ) (2,454 ) (1,631 )
Share-based payments 2,131 825 2,774 1,834
Net finance expense 7,488 7,330 12,889 13,781
Income tax expense 3,916   3,130   8,137   6,485  
35,086 31,996 68,872 62,966
Movements in trade and other current assets (10,429 ) (2,017 ) (11,229 ) (8,804 )
Movements in trade and other liabilities 2,289   (5,882 ) 3,595   (6,470 )
Cash generated from operations 26,946 24,097 61,238 47,692
Interest and fees paid (v) (1,235 ) (1,140 ) (12,061 ) (11,171 )
Interest received 57 2 124 287
Income tax paid (1,843 ) (1,634 ) (2,201 ) (2,070 )
Net cash flows from operating activities 23,925 21,325 47,100 34,738
Cash flows from investing activities
Purchase of property, plant and equipment (53,634 ) (28,553 ) (110,025 ) (59,473 )
Purchase of intangible assets (776 ) (226 ) (1,390 ) (2,095 )
Net cash flows from investing activities (54,410 ) (28,779 ) (111,415 ) (61,568 )
Cash flows from financing activities
Proceeds from exercised options 1,146 1,132 1,402 2,743
Proceeds from mortgages 9,185 5,703 9,185 15,324
Repayment of mortgages (567 ) - (734 ) -
Proceeds Revolving Facility - - 30,000 -
Repayments Revolving Facility (30,000 ) - (30,000 ) -
Proceeds 6.00% Senior Secured Notes due 2020 158,382 - 158,382 -
Interest received at issue of Additional Notes 2,600 - 2,600 -
Transaction costs related to Senior Secured Facility (371 ) - (371 ) -
Repayment of other borrowings (12 ) (12 ) (23 ) (25 )
Net cash flows from financing activities 140,363 6,823 170,441 18,042
Effect of exchange rate changes on cash 63   (52 ) 64   (61 )
Net movement in cash and cash equivalents 109,941 (683 ) 106,190 (8,849 )
Cash and cash equivalents, beginning of period 41,939   60,526   45,690   68,692  
Cash and cash equivalents, end of period 151,880   59,843   151,880   59,843  
 

(v) Interest paid is reported net of cash interest capitalized, which is reported as part of “Purchase of property, plant and equipment."

       
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED NET PROFIT RECONCILIATION
(in € millions ― except per share data and where stated otherwise)
(unaudited)
 
 
Three Months Ended Six Months Ended
30 Jun 30 Jun 30 Jun 30 Jun
2014 2013 2014 2013
 
 
Net profit - as reported 8.3 6.6 18.7 13.6
 
Add back
+ Refinancing charges 0.6   -   0.6   -  
0.6 - 0.6 -
Reverse
- Adjustments to onerous lease (0.8 ) - (0.8 ) -
- Interest capitalised (0.8 ) (0.3 ) (1.6 ) (1.0 )
(1.6 ) (0.3 ) (2.4 ) (1.0 )
 
Tax effect of above add backs & reversals 0.3 0.1 0.5 0.3
       
Adjusted Net profit 7.6   6.4   17.4   12.9  
 
Reported Basic EPS: (€) 0.12 0.10 0.27 0.20
Reported Diluted EPS: (€) 0.12 0.10 0.27 0.20
 
Adjusted Basic EPS: (€) 0.11 0.09 0.25 0.19
Adjusted Diluted EPS: (€) 0.11 0.09 0.25 0.19
 
     
INTERXION HOLDING NV
Status of Announced Expansion Projects as at 6 August 2014
with Target Open Dates in 2014 & 2015
 
 
CAPEX (a, b) Equipped Space (a)
Market   Project   (€million)   (sqm)   Target Opening Dates
 
Amsterdam AMS 7: Phases 1 - 6 New Build 115 7,300 1Q 2014 - 1H 2015 (c)
Brussels BRU 1: Phase 5 Expansion 2 300 1Q 2014 (opened)
Frankfurt FRA 8: Phases 1 - 4 New Build 67 3,600 2Q 2014 - 1H 2015 (d)
Frankfurt FRA 9: New Build 13 800 1Q 2014 (opened)
London LON 1: Expansion 1 100 2Q 2014 (opened)
Marseille MRS 1: Phases 1 - 2 20 1,000 4Q 2014 - 1Q2015(e)
Stockholm STO 2: Phase 2 Expansion 6 500 1Q 2014 (opened)
Stockholm STO 3: New Build 12 900 4Q 2014
Vienna VIE 2: Phases 1 - 2 New Build 25 1,200 4Q 2014 - 1H 2015 (f)
Zurich ZUR 1: Expansion 1 100 2Q 2014 (opened)
Total € 262 16,000
 
 
(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 (1,100 square metres) became operational in 1Q 2014; phase 2 (1,000 square metres) became operational in 2Q 2014; phase 3 (1,300 square metres) is scheduled for 4Q 2014; phase 4 (1,300 square metres) is scheduled for 1Q 2015; phases 5 and 6 (1,300 square metres each) are scheduled for 2Q 2015.
(d) Phases 1 and 2 (900 square metres each) became operational in the second quarter of 2014; phases 3 and 4 (900 square metres each) are scheduled for 1Q 2015.
(e) Phases 1 and 2 (500 square metres each) are scheduled for 4Q 2014 and 1Q 2015, respectively. Marseille costs include the purchase of land buildings, and data centre equipment.
(f) Phase 1 (600 square metres) is scheduled to be operational in 4Q 2014; phase 2 is scheduled to open 300 square metres in 1Q 2015 and the remaining 300 square metres in 2Q 2015.
 

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SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the ...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and asse...
What do a firewall and a fortress have in common? They are no longer strong enough to protect the valuables housed inside. Like the walls of an old fortress, the cracks in the firewall are allowing the bad guys to slip in - unannounced and unnoticed. By the time these thieves get in, the damage is already done and the network is already compromised. Intellectual property is easily slipped out the back door leaving no trace of forced entry. If we want to reign in on these cybercriminals, it's hig...
SYS-CON Events announced today that Cloudian, Inc., the leading provider of hybrid cloud storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Cloudian, Inc., is a Foster City, California - based software company specializing in cloud storage software. The main product is Cloudian, an Amazon S3-compliant cloud object storage platform, the bedrock of cloud computing systems, that enables c...
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's large...
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect...
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Ar...
The 3rd International @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to th...
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.