AMSTERDAM 23 March 2011 – Interxion (INXN : NYSE), a leading European provider of carrier-neutral colocation data centre services, today announced its results for the three months and year ended 31 December 2010.
Highlights
- Revenue for the year increased by 21% to €208.4 million
- Adjusted EBITDA for the year increased by 26% to €79.2 million
- Adjusted EBITDA margin for the year increased to 38.0%
- Net profit for 2010 was €14.7 million
- €260 million bond issuance
- Cash balance at Dec. 31, 2010 of €99.1 million
- Successful IPO in January 2011 generating €138.6 million net proceeds to the company
“The fourth quarter of 2010 was Interxion’s 17th consecutive quarter of sequential quarterly growth in revenue and Adjusted EBITDA, capping a landmark year for the company,” said Chief Executive Officer David Ruberg. “In addition to this consistent operating execution, we successfully strengthened and recapitalized the company’s balance sheet, which positions us for continued success in 2011 as we execute our fully funded plan.”
Revenues for the fourth quarter 2010 were €55.6 million, a 23% increase compared to €45.1 million in the fourth quarter 2009. Adjusted EBITDA was €21.4 million in the fourth quarter, a 26% increase from the prior year quarter. Adjusted EBITDA margins were 38.5% in the fourth quarter compared to 37.5% in the same quarter last year.
Business Outlook
The company is providing the following outlook for the full year 2011:
Revenue €239 million to €245 million
Adjusted EBITDA €91 million to €95 million
Capital Expenditures €140 million to €160 million
Conference Call to discuss results
The Company will discuss its results for the fourth quarter and year ended 31 December 2010 and outlook for the full year 2011 on a conference call on Wednesday, 23 March 2011 at 8.30am EDT (12:30pm GMT/1:30pm CET).
To participate on the conference call, please dial 1-866-966-9439 (for US participants) and +44 (0) 1452 555 566 (for participants outside the US) and use the pass code 49880935#. This event also will be webcast live over the Internet in listen-only mode at www.investors.interxion.com.
A replay of the call will be available until March 30th beginning on Wednesday, 23rd March by dialling 1-866-247-4222 from the US +44 (0) 1452 55 00 00 from the UK and using the pass code 49880935#.
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 utilize 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.
Adjusted EBITDA
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 and, exceptional and non recurring items, and to include share of profits (losses) of non-group companies. We present EBITDA and Adjusted EBITDA 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 €50 million revolving credit facility and €260 million 9.50% Senior Secured Notes due 2017. However, other companies may present EBITDA and Adjusted EBITDA differently than we do. EBITDA and Adjusted EBITDA 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 of Adjusted EBITDA to operating profit is provided below.
To see the full release including the financial figures please visit our investor relations website at investors.interxion.com
About Interxion
Interxion is a leading provider of carrier-neutral colocation data centre services in Europe, serving over 1,100 customers through 28 data centres in 11 European countries. Interxion’s uniformly designed, energy-efficient data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by 350 carriers and ISPs and 18 European Internet exchanges across its footprint, Interxion has created content and connectivity hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.
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