Email Contact Phone Company Visit Website

Interxion London Head Office

5th Floor 91-95 Brick Lane
London
GB

Telephone

0207 388 9988

Contact

Nick Bird
[email protected]
Back to all Interxion announcements

Interxion Reports Third Quarter 2012 Results

Interxion Holding NV (NYSE: INXN), a leading European provider of carrier-neutral colocation data centre services, announced its results today for the three months ended 30 September 2012.

Financial Highlights

  • Revenue increased by 14% to €70.4 million (Q3 2011: €62.0 million)
  • Adjusted EBITDA increased by 15% to €28.7 million (Q3 2011: €25.0 million)
  • Adjusted EBITDA margin increased to 40.8% (Q3 2011: 40.3%)
  • Net profit increased by 24% to €8.6 million (Q3 2011: €6.9 million)
  • Capital expenditure, including intangible assets, was €46.5 million

Operating Highlights

  • New data centres opened in Amsterdam and London
  • Equipped Space increased by 4,300 square metres in the third quarter to 69,600 square metres
  • Revenue Generating Space increased by 2,600 square metres in the third quarter to 51,200 square metres
  • Utilisation Rate was 74% at the end of the quarter
  • Announced expansion projects remain on schedule

“Interxion again delivered solid financial and operational results and significantly grew both equipped and revenue generating space,” said Interxion Chief Executive Officer, David Ruberg. “Our market strategy that focuses on creating value for our customers by building communities of interest continues to pay off. We saw particular strength from cloud service providers and financial services segments who derive value in their own businesses from the rich, low latency connectivity and robust communities of interest available in our highly reliable data centres.”

Quarterly Review

Revenue for the third quarter of 2012 was €70.4 million, a 14% increase over the third quarter of 2011 and a 4% increase over the second quarter of 2012. Recurring revenue was €65.1 million, a 12% increase over the third quarter of 2011 and a 4% increase over the second quarter of 2012. Recurring revenue was 92% of total revenue.

Cost of sales for the third quarter increased by 13% to €29.4 million, compared with the third quarter of 2011. Gross profit margin increased to 58.3%, compared with 58.1% in the same quarter of 2011. Sales and marketing costs in the third quarter were €5.1 million, up 20% compared with the same quarter in the previous year. General and administrative costs1, were €7.2 million, an increase of 6% compared with the third quarter of 2011. Depreciation, amortisation, and impairments increased by 21%, compared with the previous-year third quarter, to €11.0 million.

Net financing costs for the third quarter of 2012 were €3.8 million, compared with €5.3 million in the third quarter of 2011, primarily as a result of higher interest capitalization because of increased data centre construction.

Net profit was €8.6 million in the third quarter of 2012, up 24% from the third quarter of 2011. Earnings per share in the third quarter of 2012 were €0.12, an increase of 21%, on a weighted average of 68.7 million diluted shares compared to €0.10 on a weighted average of 67.5 million diluted shares in the third quarter of 2011.

Adjusted EBITDA for the third quarter of 2012 was €28.7 million, up 15% year-on-year. Adjusted EBITDA margin expanded to 40.8%, compared with 40.3% in the third quarter of the previous year.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €24.1 million. Capital Expenditure, including intangible assets, was €46.5 million in the third quarter 2012.

Cash and cash equivalents were €55.2 million at 30 September 2012, down from €142.7 million at year-end 2011. The Company’s €60.0 million revolving credit facility remains undrawn.

Equipped space at the end of the third quarter 2012 was 69,600 square metres, compared with 62,200 square metres at the end of the third quarter of 2011 and 65,300 square metres at the end of the second quarter of 2012. Revenue generating space was 51,200 square metres at the end of the third quarter 2012, compared to 46,100 square metres at the end of the third quarter of 2011 and 48,600 square metres at the end of the second quarter of 2012. Utilisation rate, the ratio of revenue-generating space to equipped space, was 74% at the end of the quarter, the same as the third quarter of 2011 and the second quarter of 2012.

1 excluding depreciation, amortisation, impairments, increase in provision for onerous lease contracts, and share-based payments

Business Outlook

The Company today reaffirmed its guidance for 2012:

Revenue €275 million – €285 million
Adjusted EBITDA €112 million – €120 million
Capital Expenditure (including intangibles) €170 million – €190 million