- Revenue for the year increased by 17% to €244.3 million (2010: €208.4 million)
- Adjusted EBITDA for the year increased by 23% to €97.6 million (2010: €79.2 million)
- Adjusted EBITDA margin for the year increased to 40.0% (2010: 38.0%)
- Net profit increased by 74% to €25.6 million (2010: €14.7 million)
- Capital Expenditures, including intangible assets1, were €162.0 million
AMSTERDAM–(BUSINESS WIRE)–
Interxion Holding NV (NYSE: INXN – News), 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.
Quarterly Review
Revenue for the fourth quarter of 2011 was €64.4 million, a 16% increase over the fourth quarter of 2010 and a 4% increase over the third quarter of 2011. Recurring revenue was €59.7 million, a 16% increase over the fourth quarter of 2010 and a 3% increase over the third quarter of 2011. Recurring revenue was 93% of total revenue.
Cost of sales for the fourth quarter increased by 9% to €25.5 million compared to the fourth quarter 2010. Gross profit margin increased to 60.4% compared to 58.1% in the same quarter of 2010. Sales and marketing costs in the fourth quarter were €4.6 million, up 22% compared to the prior year quarter. General and administrative costs, excluding depreciation, amortisation, impairments, exceptional general and administrative costs, and share-based payments were €7.2 million, an increase of 5% compared to the prior year quarter. Depreciation, amortisation, and impairments decreased by 3% compared to the prior year quarter to €8.4 million.
Net financing costs for the fourth quarter of 2011 were €5.0 million, compared to €6.1 million in the fourth quarter of 2010.
Net profit was €10.6 million in the fourth quarter of 2011, up 12% from the fourth quarter of 2010.
Adjusted EBITDA for the fourth quarter of 2011 was €27.1 million, up 27% year over year. Adjusted EBITDA margin expanded to 42.1% compared to 38.5% in the prior year quarter.
Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €22.6 million. Capital Expenditures, including intangible assets, were €68.5 million in the fourth quarter 2011 and included €19.1 million relating to the purchase of the land and buildings of our Paris 3 and Paris 5 data centres.
Cash and equivalents and short term investments were €142.7 million at 31 December 2011, up from €99.1 million at year end 2010.
Equipped space at the end of the fourth quarter 2011 was 62,800 square metres compared to 61,000 square metres at the end of fourth quarter 2010 and 62,200 square metres at the end of the third quarter 2011. Utilisation rate, the ratio of revenue-generating space to equipped space, was 75%, up from 72% in the fourth quarter 2010, and up from 74% in the third quarter 2011.
Business Outlook
The company today is providing guidance for full year 2012:
| Revenue | €275 million – €285 million | ||
| Adjusted EBITDA | €112 million – €120 million | ||
| Capital Expenditures (including intangibles) | €170 million – €190 million |
Conference Call to Discuss Results
The company will host a conference call at 8:30 a.m. ET (1:30 pm GMT, 2:30 pm CET) today to discuss the 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 49634657. 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 6 March 2012. To access the replay, U.S. callers may dial toll free 1866 247 4222; callers outside the U.S. may dial direct +44 (0) 1452 55 00 00. The replay access number is 49634657#.
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 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 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 Adjusted EBITDA as additional information because we believe this measure is used by certain investors in their analysis and because it is used in the financial covenants in our €50 million revolving credit facility and €260 million 9.50% Senior Secured Notes due 2017. However, other companies may present Adjusted EBITDA differently than we do. Adjusted EBITDA is not a measure of financial performance under IFRS and should not be considered as a measure of liquidity or as an alternative to operating profit, net income or any other measure of performance derived in accordance with IFRS as an indicator of our operating performance.
A reconciliation of Adjusted EBITDA to EBITDA and operating profit is provided in the Notes to Consolidated Income Statement: Group Metrics.
Interxion does not provide forward-looking estimates of Operating Profit, Depreciation, amortization, and impairments, Share-based payments, or Exception items, which it uses to reconcile to Adjusted EBITDA. Therefore, the company is unable to provide reconciling information. Interxion intends to calculate Adjusted EBITDA in future periods consistent with how it is calculated for the periods presented within this press release.
About Interxion
Interxion (NYSE: INXN – News) is a leading provider of carrier-neutral collocation data centre services in Europe, serving a wide range of 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 over 400 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.
1 Capital expenditures, including intangible assets, represent payments to acquire property, plant, and equipment and intangible assets, as recorded in the consolidated statement of cash flows as “Purchase of property, plant and equipment” and “Purchase of intangible assets” respectively.
| INTERXION HOLDING NV | ||||||||||||
| CONSOLIDATED INCOME STATEMENTS | ||||||||||||
| (in €’000 – except per share data and where stated otherwise) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended | Year Ended | |||||||||||
| 31-Dec | 31-Dec | 31-Dec | 31-Dec | |||||||||
| 2011 | 2010 | 2011 | 2010 | |||||||||
| Revenue | 64,390 | 55,555 | 244,310 | 208,379 | ||||||||
| Cost of sales | (25,495 | ) | (23,287 | ) | (101,766 | ) | (91,154 | ) | ||||
| Gross profit | 38,895 | 32,268 | 142,544 | 117,225 | ||||||||
| Other income | 146 | 132 | 487 | 425 | ||||||||
| Sales and marketing costs | (4,643 | ) | (3,810 | ) | (17,680 | ) | (15,072 | ) | ||||
| General and administrative costs | (16,869 | ) | (16,175 | ) | (67,258 | ) | (55,892 | ) | ||||
| Operating profit | 17,529 | 12,415 | 58,093 | 46,686 | ||||||||
| Net finance expense | (4,955 | ) | (6,123 | ) | (22,784 | ) | (29,444 | ) | ||||
| Profit before taxation | 12,574 | 6,292 | 35,309 | 17,242 | ||||||||
| Income tax expense | (1,925 | ) | 3,222 | (9,737 | ) | (2,560 | ) | |||||
| Net profit | 10,649 | 9,514 | 25,572 | 14,682 | ||||||||
| Basic earnings per share: (€) (i) | 0.16 | 0.21 | 0.40 | 0.33 | ||||||||
| Diluted earnings per share: (€) (i) | 0.16 | 0.20 | 0.39 | 0.31 | ||||||||
| Number of shares outstanding at the end of the period (shares in thousands) | 66,129 | 44,354 | 66,129 | 44,354 | ||||||||
| Weighted average number of shares for Basic EPS (shares in thousands) | 66,052 | 44,351 | 64,176 | 44,352 | ||||||||
| Weighted average number of shares for Diluted EPS (shares in thousands) | 67,449 | 47,635 | 65,896 | 47,707 | ||||||||
| Capacity Metrics | ||||||||||||
| Equipped space (in sqm) | 62,800 | 61,000 | 62,800 | 61,000 | ||||||||
| Revenue generating space (in sqm) | 47,100 | 43,700 | 47,100 | 43,700 | ||||||||
| Utilisation rate | 75 | % | 72 | % | 75 | % | 72 | % | ||||
| (i) Number of shares have been adjusted to take account of the 1 for 5 reverse stock split which took place on 2 February 2011. | ||||||||||||
| INTERXION HOLDING NV | ||||||||||||
| NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION | ||||||||||||
| (in €’000 – except where stated otherwise) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended | Year Ended | |||||||||||
| 31-Dec | 31-Dec | 31-Dec | 31-Dec | |||||||||
| 2011 | 2010 | 2011 | 2010 | |||||||||
| Consolidated | ||||||||||||
| Recurring revenue | 59,717 | 51,422 | 228,328 | 192,973 | ||||||||
| Non-recurring Revenue | 4,673 | 4,133 | 15,982 | 15,406 | ||||||||
| Revenue | 64,390 | 55,555 | 244,310 | 208,379 | ||||||||
| Adjusted EBITDA | 27,101 | 21,380 | 97,637 | 79,203 | ||||||||
| Gross Margin | 60.4 | % | 58.1 | % | 58.3 | % | 56.3 | % | ||||
| Adjusted EBITDA Margin | 42.1 | % | 38.5 | % | 40.0 | % | 38.0 | % | ||||
| Total assets | 744,281 | 546,762 | 744,281 | 546,762 | ||||||||
| Total liabilities | 413,720 | 391,493 | 413,720 | 391,493 | ||||||||
| Capital expenditures, including intangible assets (ii) | (68,543 | ) | (19,732 | ) | (161,956 | ) | (100,394 | ) | ||||
| France, Germany, Netherlands, and UK | ||||||||||||
| Recurring revenue | 36,184 | 30,502 | 136,460 | 114,689 | ||||||||
| Non-recurring Revenue | 3,440 | 1,568 | 10,352 | 9,161 | ||||||||
| Revenue | 39,624 | 32,070 | 146,812 | 123,850 | ||||||||
| Adjusted EBITDA | 21,558 | 15,933 | 74,774 | 58,060 | ||||||||
| Gross Margin | 62.2 | % | 60.8 | % | 59.8 | % | 57.3 | % | ||||
| Adjusted EBITDA Margin | 54.4 | % | 49.7 | % | 50.9 | % | 46.9 | % | ||||
| Total assets | 412,160 | 279,735 | 412,160 | 279,735 | ||||||||
| Total liabilities | 97,779 | 81,339 | 97,779 | 81,339 | ||||||||
| Capital expenditures, including intangible assets (ii) | (60,230 | ) | (12,167 | ) | (122,880 | ) | (59,419 | ) | ||||
| Rest of Europe | ||||||||||||
| Recurring revenue | 23,533 | 20,920 | 91,868 | 78,284 | ||||||||
| Non-recurring Revenue | 1,233 | 2,565 | 5,630 | 6,245 | ||||||||
| Revenue | 24,766 | 23,485 | 97,498 | 84,529 | ||||||||
| Adjusted EBITDA | 13,253 | 12,118 | 50,676 | 43,010 | ||||||||
| Gross Margin | 62.7 | % | 60.3 | % | 61.4 | % | 60.4 | % | ||||
| Adjusted EBITDA Margin | 53.5 | % | 51.6 | % | 52.0 | % | 50.9 | % | ||||
| Total assets | 181,186 | 150,026 | 181,186 | 150,026 | ||||||||
| Total liabilities | 40,774 | 35,335 | 40,774 | 35,335 | ||||||||
| Capital expenditures, including intangible assets (ii) | (6,913 | ) | (6,644 | ) | (35,366 | ) | (35,709 | ) | ||||
| Corporate and Other | ||||||||||||
| Adjusted EBITDA | (7,710 | ) | (6,671 | ) | (27,813 | ) | (21,867 | ) | ||||
| Total assets | 150,935 | 117,001 | 150,935 | 117,001 | ||||||||
| Total liabilities | 275,167 | 274,819 | 275,167 | 274,819 | ||||||||
| Capital expenditures, including intangible assets (ii) | (1,400 | ) | (921 | ) | (3,710 | ) | (5,266 | ) | ||||
|
(ii) Capital expenditures, including intangible assets, represent payments to acquire property, plant, and equipment and intangible assets, as recorded in the consolidated statement of cash flows as “Purchase of property, plant and equipment” and “Purchase of intangible assets” respectively.
|
||||||||||||
| INTERXION HOLDING NV | ||||||||||||
| NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION | ||||||||||||
| (in €’000 – except where stated otherwise) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended | Year Ended | |||||||||||
| 31-Dec | 31-Dec | 31-Dec | 31-Dec | |||||||||
| 2011 | 2010 | 2011 | 2010 | |||||||||
| Reconciliation of adjusted EBITDA | ||||||||||||
| Consolidated | ||||||||||||
| Adjusted EBITDA | 27,101 | 21,380 | 97,637 | 79,203 | ||||||||
| Income from subleases on unused data center sites | 146 | 132 | 487 | 425 | ||||||||
| Exceptional income | 146 | 132 | 487 | 425 | ||||||||
| (Increase)/decrease in provision for onerous lease contracts | – | 143 | (18 | ) | (150 | ) | ||||||
| IPO transaction costs (iii) | – | – | (1,725 | ) | – | |||||||
| Share-based payments | (1,347 | ) | (615 | ) | (2,736 | ) | (1,684 | ) | ||||
| Exceptional general and administrative costs | (1,347 | ) | (472 | ) | (4,479 | ) | (1,834 | ) | ||||
| EBITDA | 25,900 | 21,040 | 93,645 | 77,794 | ||||||||
| Depreciation, amortization and impairments | (8,371 | ) | (8,625 | ) | (35,552 | ) | (31,108 | ) | ||||
| Operating profit | 17,529 | 12,415 | 58,093 | 46,686 | ||||||||
| France, Germany, Netherlands, and UK | ||||||||||||
| Adjusted EBITDA | 21,558 | 15,933 | 74,774 | 58,060 | ||||||||
| Income from subleases on unused data center sites | 146 | 132 | 487 | 425 | ||||||||
| Exceptional income | 146 | 132 | 487 | 425 | ||||||||
| (Increase)/decrease in provision for onerous lease contracts | – | 143 | (18 | ) | (150 | ) | ||||||
| Share-based payments | (368 | ) | (418 | ) | (368 | ) | (418 | ) | ||||
| Exceptional general and administrative costs | (368 | ) | (275 | ) | (386 | ) | (568 | ) | ||||
| EBITDA | 21,336 | 15,790 | 74,875 | 57,917 | ||||||||
| Depreciation, amortization and impairments | (5,272 | ) | (5,002 | ) | (21,289 | ) | (18,659 | ) | ||||
| Operating profit | 16,064 | 10,788 | 53,586 | 39,258 | ||||||||
| Rest of Europe | ||||||||||||
| Adjusted EBITDA | 13,253 | 12,118 | 50,676 | 43,010 | ||||||||
| Share-based payments | (324 | ) | (233 | ) | (324 | ) | (233 | ) | ||||
| Exceptional general and administrative costs | (324 | ) | (233 | ) | (324 | ) | (233 | ) | ||||
| EBITDA | 12,929 | 11,885 | 50,352 | 42,777 | ||||||||
| Depreciation, amortization and impairments | (2,673 | ) | (3,141 | ) | (12,371 | ) | (10,972 | ) | ||||
| Operating profit | 10,256 | 8,744 | 37,981 | 31,805 | ||||||||
| Corporate and Other | ||||||||||||
| Adjusted EBITDA | (7,710 | ) | (6,671 | ) | (27,813 | ) | (21,867 | ) | ||||
| IPO transaction costs (iii) | – | – | (1,725 | ) | – | |||||||
| Share-based payments | (655 | ) | 36 | (2,044 | ) | (1,033 | ) | |||||
| Exceptional general and administrative costs | (655 | ) | 36 | (3,769 | ) | (1,033 | ) | |||||
| EBITDA | (8,365 | ) | (6,635 | ) | (31,582 | ) | (22,900 | ) | ||||
| Depreciation, amortization and impairments | (426 | ) | (482 | ) | (1,892 | ) | (1,477 | ) | ||||
| Operating profit | (8,791 | ) | (7,117 | ) | (33,474 | ) | (24,377 | ) | ||||
| (iii) The IPO transaction costs represent the write off of the proportion of the IPO costs allocated to selling shareholders at the Initial Public Offering. | ||||||||||||
| INTERXION HOLDING NV | ||||||
| CONSOLIDATED BALANCE SHEET | ||||||
| (in €’000 – except where stated otherwise) | ||||||
| (unaudited) | ||||||
| As at | ||||||
| 31-Dec | 31-Dec | |||||
| 2011 | 2010 | |||||
| Non-current assets | ||||||
| Property, plant and equipment | 477,798 | 342,420 | ||||
| Intangible assets | 12,542 | 6,005 | ||||
| Deferred tax assets | 39,557 | 39,841 | ||||
| Other non-current assets | 3,841 | 3,709 | ||||
| 533,738 | 391,975 | |||||
| Current assets | ||||||
| Trade and other current assets | 67,874 | 55,672 | ||||
| Cash and cash equivalents | 142,669 | 99,115 | ||||
| 210,543 | 154,787 | |||||
| Total assets | 744,281 | 546,762 | ||||
| Shareholders’ equity | ||||||
| Share capital | 6,613 | 4,434 | ||||
| Share premium | 466,166 | 321,078 | ||||
| Foreign currency translation reserve | 7,386 | 4,933 | ||||
| Accumulated deficit | (149,604 | ) | (175,176 | ) | ||
| 330,561 | 155,269 | |||||
| Non-current liabilities | ||||||
| Trade payables and other liabilities | 10,294 | 7,795 | ||||
| Deferred tax liabilities | 1,742 | 660 | ||||
| Provision for onerous lease contracts | 10,618 | 13,260 | ||||
| Borrowings | 257,267 | 257,403 | ||||
| 279,921 | 279,118 | |||||
| Current liabilities | ||||||
| Trade payables and other liabilities | 127,639 | 106,038 | ||||
| Current tax liabilities | 2,249 | 868 | ||||
| Provision for onerous lease contracts | 3,108 | 3,073 | ||||
| Borrowings | 803 | 2,396 | ||||
| 133,799 | 112,375 | |||||
| Total liabilities | 413,720 | 391,493 | ||||
| Total liabilities and shareholders’ equity | 744,281 | 546,762 | ||||
| INTERXION HOLDING NV | ||||||
| NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS | ||||||
| (in €’000 – except where stated otherwise) | ||||||
| (unaudited) | ||||||
| As at | ||||||
| 31-Dec | 31-Dec | |||||
| 2011 | 2010 | |||||
| Borrowings net of cash and cash equivalents | ||||||
| Cash and cash equivalents (iv) | 142,669 | 99,115 | ||||
| 9.5% Senior Secured Notes due 2017 (v) | 255,560 | 254,924 | ||||
| Financial Leases | 337 | 765 | ||||
| Other Borrowings | 2,173 | 4,110 | ||||
| Borrowings excluding revolving credit facility deferred financing costs | 258,070 | 259,799 | ||||
| Revolving credit facility deferred financing costs (vi) | (667 | ) | (1,283 | ) | ||
| Total Borrowings | 257,403 | 258,516 | ||||
| Borrowings net of cash and cash equivalents | 114,734 | 159,401 | ||||
|
(iv) Cash and cash equivalents includes €4.8 million as of December 31, 2011 and €4.2 million as of December 31, 2010, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.
|
||||||
|
(v) €260 million 9.5% Senior Secured Notes due 2017 include premium on additional issue and are shown after deducting underwriting discounts and commissions, offering fees and expenses.
|
||||||
|
(vi) We reported deferred financing costs of €0.7 million in connection with entering into our €50 million revolving credit facility which was undrawn at the end of the period.
|
||||||
| INTERXION HOLDING NV | ||||||||||||
| CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||||||
| (in €’000 – except where stated otherwise) | ||||||||||||
| (unaudited) | ||||||||||||
| Three Months Ended | Year Ended | |||||||||||
| 31-Dec | 31-Dec | 31-Dec | 31-Dec | |||||||||
| 2011 | 2010 | 2011 | 2010 | |||||||||
| Profit for the period | 10,649 | 9,514 | 25,572 | 14,682 | ||||||||
| Depreciation, amortization and impairments | 8,371 | 8,625 | 35,552 | 31,108 | ||||||||
| IPO transaction costs | – | – | 1,725 | – | ||||||||
| Provision for onerous lease contracts | (822 | ) | (1,329 | ) | (3,125 | ) | (3,157 | ) | ||||
| Share-based payments | 1,347 | 615 | 2,736 | 1,684 | ||||||||
| Net finance expense | 4,955 | 6,412 | 22,784 | 29,444 | ||||||||
| Income tax expense | 1,925 | (3,222 | ) | 9,737 | 2,560 | |||||||
| 26,425 | 20,615 | 94,981 | 76,321 | |||||||||
| Movements in trade and other current assets | (8,947 | ) | 2,129 | (16,942 | ) | 511 | ||||||
| Movements in trade and other liabilities | 5,096 | 4,265 | 12,009 | 8,476 | ||||||||
| Cash generated from operations | 22,574 | 27,009 | 90,048 | 85,308 | ||||||||
| Interest paid | (294 | ) | (802 | ) | (24,472 | ) | (9,980 | ) | ||||
| Interest received | 1,010 | 53 | 2,251 | 390 | ||||||||
| Income tax paid | (2,240 | ) | (389 | ) | (3,784 | ) | (1,339 | ) | ||||
| Net cash flows from operating activities | 21,050 | 25,871 | 64,043 | 74,379 | ||||||||
| Cash flow from investing activities | ||||||||||||
| Purchase of property, plant and equipment | (65,432 | ) | (19,058 | ) | (154,559 | ) | (98,171 | ) | ||||
| Disposals of property, plant and equipment | – | 230 | 945 | 230 | ||||||||
| Purchase of intangible assets | (3,111 | ) | (674 | ) | (7,397 | ) | (2,223 | ) | ||||
| Proceeds /(acquisition) short-term investments | 40,000 | – | – | – | ||||||||
| Net cash flows from investing activities | (28,543 | ) | (19,502 | ) | (161,011 | ) | (100,164 | ) | ||||
| Cash flow from financing activities | ||||||||||||
| Proceeds from exercised options | 452 | 6 | 3,474 | 6 | ||||||||
| Proceeds from issuance new shares | – | – | 142,952 | – | ||||||||
| Repayment of ‘Liquidation Price’ to former preferred shareholders | – | – | (3,055 | ) | – | |||||||
| Proceeds/(repayment) bank facilities | – | – | – | (159,046 | ) | |||||||
| Proceeds from Senior Secured Notes and RCF | – | 63,446 | (645 | ) | 254,276 | |||||||
| Other Borrowings | (131 | ) | (1,312 | ) | (2,396 | ) | (2,488 | ) | ||||
| Net cash flows from financing activities | 321 | 62,140 | 140,330 | 92,748 | ||||||||
| Effect of exchange rate changes on cash | 302 | 14 | 192 | 149 | ||||||||
| Net movement in cash and cash equivalents | (6,870 | ) | 68,523 | 43,554 | 67,112 | |||||||
| Cash and cash equivalents, beginning of period | 149,539 | 30,592 | 99,115 | 32,003 | ||||||||
| Cash and cash equivalents, end of period | 142,669 | 99,115 | 142,669 | 99,115 | ||||||||
| INTERXION HOLDING NV | ||||||||
| Announced Expansion Projects 2011 | ||||||||
| Market | Project | CAPEX (a, b) | Equipped Space (a) | Target Completion | ||||
| (€ million) | (Sqm) | |||||||
| Düsseldorf | DUS 1 : Phase 2 Power Expansion | € 7 | 500 (c) | 2Q 2011 (completed) | ||||
| London | LON 1 : Phase 9 Expansion | € 7 | 525 | 2Q 2011 (completed) | ||||
| Vienna | VIE 1 : Phase 3 Expansion | € 5 | 600 (d) | 3Q 2011 (completed) | ||||
| Dublin | DUB 2 : Phase 3 Expansion | € 8 | 640 | 4Q 2011 (completed) | ||||
| Stockholm | STO 1: Phase 4 Expansion | € 5 | 500 | 1Q 2012 (completed) | ||||
| Frankfurt | FRA 7: New Build | € 21 | 1,550 | 1Q 2012 | ||||
| London | LON 2: New Build | € 38 | 1,700 | 2Q 2012 | ||||
| Paris | PAR 7 : Phase 1 New Build | € 70 | 4,500 | 2Q 2012 | ||||
| Amsterdam | AMS 6: New Build | € 60 | 4,000 | 4Q 2012 | ||||
| Total | € 221 | 14,515 | ||||||
| (a) CAPEX and Equipped Space are approximate and may change after project completion. | ||||||||
| (b) CAPEX reflects the total for the listed project and may not be all invested in the current year. | ||||||||
| (c) Previously included in equipped space | ||||||||
| (d) Announced as a 2 phase project with 1300 sqm and €12 million capex | ||||||||
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