Interxion maakt kwartaalcijfers bekend

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• Interxion
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• 4 mei 2016 14:47 uur

Interxion, een toonaangevende Europese leverancier op het gebied van cloud- en carrier-neutraledatacenterdiensten, heeft vandaag zijn kwartaalcijfers bekend gemaakt. Het Engelstalige bericht kunt u hieronder lezen.

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 31 March 2016.

Financial Highlights

• Revenue increased by 10% to €102.0 million (1Q 2015: €92.5 million).
• Recurring Revenue increased by 12% to €97.2 million (1Q 2015: €87.1 million).
• Adjusted EBITDA¹ increased by 13% to €45.9 million (1Q 2015: €40.6 million).
• Adjusted EBITDA margin increased to 45.0% (1Q 2015: 43.9%).
• Net profit increased to €10.2 million (1Q 2015: €4.4 million).
• Adjusted net profit¹ increased by 13% to €10.0 million (1Q 2015: €8.9 million).
• Earnings per diluted share were €0.14 (1Q 2015: €0.06).
• Adjusted earnings per diluted share¹ were €0.14 (1Q 2015: €0.13).
• Capital Expenditures, including intangible assets² , were €50.0 million (1Q 2015: €67.6 million).
• Subsequent to the quarter end, Interxion issued €150 million of 6.00% Senior Secured Notes due 2020 at 104.50%.

Operating Highlights

• Equipped Space increased by 400 square metres to 101,600 square metres.
• Revenue Generating Space increased by 1,300 square metres to 80,400 square metres.
• Utilisation Rate at the end of the quarter was 79%.
• Interxion’s tenth data centre in Frankfurt (FRA10) opened in the first quarter, with 1,200 square metres becoming available. Interxion’s second data centre in Copenhagen (CPH2) opened subsequent to the end of the first quarter, with 500 square metres becoming available.

“Interxion again posted solid financial and operational results in the first quarter, demonstrating the value of our Communities of Interest strategy,” said David Ruberg, Interxion’s Chief Executive Officer. “The demand from magnetic cloud platform providers continues to grow as enterprise use of cloud begins to migrate from the experimentation phase to the initial production phase. These key platform providers continue to value the attractiveness of our campus communities and broad Western European footprint. Interxion is well positioned to capture future demand as enterprises seek the advantages of the hybrid multi-cloud solutions, either directly or through systems integrators.”

Quarterly Review
Revenue in the first quarter of 2016 was €102.0 million, a 10% increase over the first quarter of 2015 and a 1% increase over the fourth quarter of 2015. Recurring revenue was €97.2 million, a 12% increase over the first quarter of 2015 and a 2% increase over the fourth quarter of 2015. Recurring revenue in the quarter was 95% of total revenue.

Cost of sales in the first quarter of 2016 was €39.1 million, an 8% increase over the first quarter of 2015 and a slight decrease over the fourth quarter of 2015.

Gross profit was €62.9 million in the first quarter of 2016, a 12% increase over the first quarter of 2015 and a 2% increase over the fourth quarter of 2015. Gross profit margin was 61.6% in the first quarter of 2016 compared to 60.8% in the first quarter of 2015 and 61.1% in the fourth quarter of 2015.

Sales and marketing costs in the first quarter of 2016 were €7.7 million, a 16% increase over the first quarter of 2015 and a 5% increase from the fourth quarter of 2015.

Other general and administrative costs were €9.2 million in the first quarter of 2016, a 4% increase over the first quarter of 2015 and a 1% increase from the fourth quarter of 2015. Other general and administrative costs exclude depreciation, amortisation, impairments, share-based payments, M&A transaction costs and provision for onerous lease contracts.

Adjusted EBITDA for the first quarter of 2016 was €45.9 million, a 13% increase over the first quarter of 2015 and a 2% increase over the fourth quarter of 2015. Adjusted EBITDA margin was 45.0% in the first quarter of 2016 compared to 43.9% in the first quarter of 2015 and 44.6% in the fourth quarter of 2015.

Depreciation, amortisation, and impairments in the first quarter of 2016 was €21.5 million, an increase of 18% from the first quarter of 2015 and a 6% increase from the fourth quarter of 2015.

Operating profit in the first quarter of 2016 was €22.9 million, an increase of 70% from the first quarter of 2015, and a slight increase from the fourth quarter of 2015. Each of the first quarter 2015, fourth quarter 2015, and first quarter 2016, were impacted by M&A transaction related items. Excluding these items, operating profit was €23.1 million in the first quarter of 2016, an increase of 14% over the first quarter of 2015 and a 1% decrease over the fourth quarter of 2015.

Net finance costs for the first quarter of 2016 were €8.0 million, a 21% increase over the first quarter of 2015, and a 2% decrease from the fourth quarter of 2015.

Income tax expense for the first quarter of 2016 was €4.7 million, a 94% increase over the first quarter of 2015, and an 83% increase from the fourth quarter of 2015.

Net profit was €10.2 million in the first quarter of 2016, a 131% increase over the first quarter of 2015, and a 16% decrease from the fourth quarter of 2015.

Adjusted net profit was €10.0 million in the first quarter of 2016, a 13% increase over the first quarter of 2015, and a 17% decrease from the fourth quarter of 2015.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €50.4 million in the first quarter of 2016, compared to €34.2 million in the first quarter of 2015, and €38.1 million in the fourth quarter of 2015.

Capital expenditures, including intangible assets, were €50.0 million in the first quarter of 2016 compared to €67.6 million in the first quarter of 2015 and €42.0 million in the fourth quarter of 2015.

Cash and cash equivalents were €44.6 million at 31 March 2016, compared to €58.6 million at year end 2015. Total borrowings, net of deferred revolving facility financing fees, were €554.9 million at 31 March 2016 compared to €555.1 million at year end 2015. As of 31 March 2016, the Company’s revolving credit facility was undrawn. On 11 April 2016, the Company issued €150 million of 6.00% Senior Secured Notes due 2020, raising net proceeds of approximately €155 million.

Equipped space at the end of the first quarter of 2016 was 101,600 square metres compared to 94,800 square metres at the end of the first quarter of 2015 and 101,200 square metres at the end of the fourth quarter of 2015. Utilisation rate, the ratio of revenue-generating space to equipped space, was 79% at the end of the first quarter of 2016, compared with 78% at the end of the first quarter of 2015 and 78% at the end of the fourth quarter of 2015.

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)	€200 million – €220 million

Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (1:30 pm BST, 2:30 pm CET) to discuss its First 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 17 May 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 81735348.

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 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.

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, M&A transaction costs, movement in provision for onerous lease contracts and income from sub-leases of 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 our 6.00% Senior Secured Notes due 2020. A reconciliation from Profit for the period attributable to shareholders (“Net profit”) to EBITDA and EBITDA to Adjusted EBITDA is provided in the notes to our condensed consolidated interim financial statements.

Adjusted net profit is defined as Net profit excluding the impact of M&A transaction costs, adjustments for onerous lease contracts, interest capitalised, and the related corporate income tax effect with respect to the foregoing items.

Other companies may, however, present EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted net profit differently than we do. EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted net profit 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 profit as indicators of our operating performance or any other measure of performance implemented in accordance with IFRS. Interxion does not provide forward-looking estimates of Net profit, Operating profit, 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.