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TheStreet Open House

Interxion Reports Q4 And Full Year 2011 Results

Stocks in this article: INXN

Interxion Holding NV (NYSE: INXN), a leading European provider of carrier-neutral collocation data centre services, announced its results today for the three months and year ended 31 December 2011.

Interxion Chief Executive Officer, David Ruberg, stated, “In Interxion’s first year as a public company, we continued our track record of strong performance by consistently executing on our business strategy, achieving continued organic growth across all key metrics while positioning the company for continued growth in 2012 and beyond.

“Our fourth quarter and full year results demonstrate our focused execution, the strength of our business model, and the favourable secular trends in our industry. Despite economic uncertainty across the Eurozone in 2011, Interxion recorded 17% organic revenue growth and 23% adjusted EBITDA growth for the year, while accelerating our disciplined expansion program.”

Annual Review

Revenue for the full year 2011 was €244.3 million, a 17% increase over full year 2010. Recurring revenue for 2011 was €228.3 million, an 18% increase over 2010, and 93% of total revenue in 2011, the same as 2010.

Net profit was €25.6 million in 2011, up 74% from 2010.

Adjusted EBITDA for 2011 was €97.6 million, up 23% year over year. Adjusted EBITDA margin for full year 2011 expanded to 40.0% from 38.0% in 2010.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €90.0 million compared to €85.3 million in 2010. Capital Expenditures, including intangible assets, were €162.0 million in 2011 compared to €100.4 million in 2010.

During 2011, Interxion completed expansion projects in Dusseldorf, London, Vienna, and Dublin and added 1,800 square metres of equipped space. Revenue generating space grew by 3,400 square metres in 2011.

The company also announced and commenced construction on expansion projects in Stockholm, Frankfurt, London, Paris, and Amsterdam representing over 12,000 square metres of equipped space, all of which are scheduled for completion in 2012.

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