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Interxion Reports Second Quarter 2013 Results

Stocks in this article: INXN

Interxion Holding NV (NYSE: INXN), a leading European provider of carrier and cloud neutral colocation data centre services, today announced its results for the three months ended 30 June 2013.

Financial Highlights

  • Revenue increased by 13% to €76.5 million (Q2 2012: €68.0 million)
  • Big 4 reporting segment recurring revenue increased by 18% to €45.2 million (Q2 2012: €38.4 million)
  • Adjusted EBITDA increased by 18% to €32.7 million (Q2 2012: €27.8 million)
  • Adjusted EBITDA margin increased to 42.8% (Q2 2012: 40.8%)
  • Net profit decreased by 24% to €6.6 million (Q2 2012: €8.7 million)
  • Capital expenditure, including intangible assets, was €28.8 million
  • Debt structure refinanced subsequent to quarter end to reduce interest costs and extend maturities

Operating Highlights

  • Expansion projects in Copenhagen and Stockholm completed
  • Equipped Space increased by 800 square metres in Q2 2013 to 78,900 square metres
  • Revenue Generating Space increased by 1,200 square metres in Q2 2013 to 58,200 square metres
  • Utilisation Rate at the end of the quarter increased to 74%
  • New expansion projects in Stockholm, Vienna, and Zurich announced today

“Interxion’s second quarter results reflect solid execution against our market segmentation strategy, which has delivered sustained, profitable growth despite the effects of a continued unfavourable macroeconomic environment,” said Interxion Chief Executive Officer, David Ruberg. “Growth in our communities of interest and structural drivers, such as the onset of migration to cloud computing, are underpinning continued demand for Interxion’s highly connected data centres.”

Quarterly Review

Revenue in the second quarter of 2013 was €76.5 million, a 13% increase over the second quarter of 2012 and 3% up on the first quarter of 2013. Recurring revenue, which was 94% of total revenue, was €72.2 million, a 15% increase over the second quarter of 2012 and 2% up on the first quarter of 2013. Recurring revenue in the Big 4 markets was €45.2 million, an 18% increase over the second quarter of 2012 and 2% up on the first quarter of 2013.

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