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Press Release -- November 4th, 2015
Source: InterXion
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Interxion Reports Third Quarter 2015 Results

Consistent Execution Delivers Solid Financial and Operating Performance

AMSTERDAM--(BUSINESS WIRE)--

Interxion Holding NV (INXN), a leading European provider of carrier and cloud-neutral colocation data centre services, announced its results today for the three months ended 30 September 2015.

Financial Highlights

  • Revenue increased by 13% to €98.0 million (3Q 2014: €86.4 million).
  • Adjusted EBITDA1 increased by 17% to €43.7 million (3Q 2014: €37.3 million).
  • Adjusted EBITDA margin increased to 44.6% (3Q 2014: 43.1%).
  • Net profit increased to €10.4 million (3Q 2014: €9.0 million).
  • Adjusted net profit1 increased to €8.7 million (3Q 2014: €8.0 million).
  • Earnings per diluted share were €0.15 (3Q 2014: €0.13).
  • Adjusted earnings per diluted share1 were €0.12 (3Q 2014: €0.11).
  • Capital Expenditures, including intangible assets2, were €35.3 million (3Q 2014: €57.0 million).

Operating Highlights

  • Equipped Space increased by 1,900 square metres to 100,200 square metres.
  • Revenue Generating Space increased by 900 square metres to 78,000 square metres.
  • Utilisation Rate at the end of the quarter was 78%.
  • Expansion projects in Madrid and Marseille completed during the quarter.
  • Announced on 3 November, the build of new data centres in Amsterdam (AMS8), Copenhagen (CPH2), and Dublin (DUB3) and the further expansion in Frankfurt (FRA10).

"Interxion posted very solid results in the third quarter, reflecting the Company's continued focus on financial discipline and operational execution," said David Ruberg, Interxion's Chief Executive Officer. "As the cloud roll out across Europe gains momentum, Interxion continues to deliver value to customers and strong returns for our shareholders through a differentiated service offering and the creation of complementary Communities of Interest, combined with disciplined capital allocation."

Quarterly Review

Revenue in the third quarter of 2015 was €98.0 million, a 13% increase over the third quarter of 2014 and a 3% increase over the second quarter of 2015. Recurring revenue was €92.8 million, a 15% increase over the third quarter of 2014 and a 3% increase over the second quarter of 2015. Recurring revenue in the quarter was 95% of total revenue.

Cost of sales in the third quarter of 2015 was €38.5 million, an 8% increase over the third quarter of 2014 and a 2% increase over the second quarter of 2015.

Gross profit was €59.5 million in the third quarter of 2015, a 17% increase over the third quarter of 2014 and a 3% increase over the second quarter of 2015. Gross profit margin was 60.7% in the third quarter of 2015 compared to 58.9% in the third quarter of 2014 and 60.5% in the second quarter of 2015.

Sales and marketing costs in the third quarter of 2015 were €6.9 million, a 17% increase over the third quarter of 2014 and a 4% decrease from the second quarter of 2015.

Other general and administrative costs were €8.8 million in the third quarter of 2015, a 15% increase over the third quarter of 2014 and a 3% increase from the second quarter of 2015. Other general and administrative costs exclude depreciation, amortisation, impairments, share-based payments, M&A transaction costs and the movement in the provision for onerous lease contracts.

Adjusted EBITDA for the third quarter of 2015 was €43.7 million, a 17% increase over the third quarter of 2014 and a 4% increase over the second quarter of 2015. Adjusted EBITDA margin was 44.6% in the third quarter of 2015 compared to 43.1% in the third quarter of 2014 and 44.0% in the second quarter of 2015.

Depreciation, amortisation, and impairments in the third quarter of 2015 was €20.3 million, an increase of 26% from the third quarter of 2014 and a 3% increase from the second quarter of 2015.

Operating profit in the third quarter of 2015 was €21.6 million, an increase of 9% from the third quarter of 2014, and a 43% decrease from the second quarter of 2015. Both the second and third quarter operating profit results were impacted by M&A transaction related items. Adjusting for these items, operating profit was €22.0 million in the third quarter of 2015, an increase of 11% over the third quarter of 2014 and an increase of 6% over the second quarter of 2015.

Net finance costs for the third quarter of 2015 were €6.4 million, an 8% decrease over the third quarter of 2014, and a 19% decrease from the second quarter of 2015. Reported as part of net finance costs in the quarter was a €2.3 million gain following the sale of a financial asset.

Income tax expense for the third quarter of 2015 was €4.7 million, a 23% increase over the third quarter of 2014, and a 42% decrease from the second quarter of 2015.

Net profit was €10.4 million in the third quarter of 2015, a 16% increase over the third quarter of 2014, and a 52% decrease from the second quarter of 2015.

Adjusted net profit was €8.7 million in the third quarter of 2015, a 9% increase over the third quarter of 2014, and a 5% increase from the second quarter of 2015.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €43.0 million in the third quarter of 2015, compared to €33.6 million in the third quarter of 2014, and €54.1 million in the second quarter of 2015. Cash generated from operations in the second quarter of 2015 included the receipt of the £15 million (€20.9 million) payment related to the termination of the implementation agreement with TelecityGroup.

Capital expenditures, including intangible assets, were €35.3 million in the third quarter of 2015 compared to €57.0 million in the third quarter of 2014 and €47.8 million in the second quarter of 2015.

Cash and cash equivalents were €50.0 million at 30 September 2015, compared to €99.9 million at year end 2014. Total borrowings, net of deferred revolving facility financing fees, were €541.0 million at 30 September 2015 compared to €560.6 million at year end 2014. As of 30 September 2015, the company’s revolving credit facility was undrawn.

Equipped space at the end of the third quarter of 2015 was 100,200 square metres compared to 88,600 square metres at the end of the third quarter of 2014 and 98,300 square metres at the end of the second quarter of 2015. Utilisation rate, the ratio of revenue-generating space to equipped space, was 78% at the end of the third quarter of 2015, compared with 77% at the end of the third quarter of 2014 and 78% at the end of the second quarter of 2015.

Business Outlook

Interxion today reaffirms guidance for its Revenue and Adjusted EBITDA, and Capital expenditures (including intangibles) for full year 2015:

Revenue €375 million – €388 million
Adjusted EBITDA €162 million – €172 million
Capital expenditures (including intangibles) €180 million – €200 million

Conference Call to Discuss Results

Interxion will host a conference call today at 8:30 a.m. ET (1:30 pm GMT, 2:30 pm CET) to discuss its third quarter 2015 results.

To participate in this call, U.S. callers may dial toll free 1-866-966-1396; callers outside the U.S. may dial direct +44 (0) 2071 928 000. 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 10 November 2015. 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 53506531.

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, increase/decrease in provision for onerous lease contracts, M&A transaction break fee income, 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 the €100 million revolving facility and €475 million 6.00% Senior Secured Notes due 2020. A reconciliation from Net profit to EBITDA and EBITDA to Adjusted EBITDA is provided in the notes to our consolidated interim income statement.

Adjusted net profit is defined as Net profit excluding the impact of refinancing charges, M&A transaction costs, M&A transaction break fee income, profit on sale of financial asset, increase / decrease in the provision 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 income as indicators of our operating performance or any other measure of performance derived 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.

About Interxion

Interxion (INXN) is a leading provider of carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through 40 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 over 500 connectivity providers, 20 European Internet exchanges, and most leading cloud and digital media platforms across its footprint, Interxion has created connectivity, cloud, content and finance hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.

1 Adjusted EBITDA, Adjusted net profit, and Adjusted earnings per diluted share are non-IFRS figures intended to adjust for unusual items. Full definitions can be found in the “Use of non-IFRS information” section later in this press release. Reconciliations of Adjusted EBITDA and Adjusted net profit to Net profit can be found in the financial tables later in this press release.

2 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 STATEMENT
(in €'000 ― except per share data and where stated otherwise)
(unaudited)
Three Months Ended Nine Months Ended

30 Sep

30 Sep

30 Sep 30 Sep
2015 2014 2015 2014
Revenue 97,976 86,446 285,907 250,702
Cost of sales (38,464 ) (35,531 ) (112,409 ) (102,107 )

Gross profit

59,512 50,915 173,498 148,595
Other income 142 57 21,202 167
Sales and marketing costs (6,943 ) (5,926 ) (20,832 ) (18,021 )
General and administrative costs (31,152 ) (25,211 ) (101,135 ) (71,199 )
Operating profit 21,559 19,835 72,733 59,542
Net finance expense (6,407 ) (6,986 ) (20,938 ) (19,875 )
Profit before taxation 15,152 12,849 51,795 39,667
Income tax expense (4,737 ) (3,855 ) (15,368 ) (11,992 )
Net profit 10,415 8,994 36,427 27,675

Basic earnings per share: (€)

0.15 0.13 0.52 0.40
Diluted earnings per share: (€) 0.15 0.13 0.52 0.40
Number of shares outstanding at the end of the period (shares in thousands) 69,638 69,161 69,638 69,161
Weighted average number of shares for Basic EPS (shares in thousands) 69,619 69,118 69,526 68,985
Weighted average number of shares for Diluted EPS (shares in thousands) 70,612 70,039 70,561 69,921
As at
30 Sep 30 Sep

Capacity metrics

2015

2014
Equipped space (in square meters) 100,200 88,600
Revenue generating space (in square meters) 78,000 68,500
Utilisation rate 78 % 77 %
INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION
(in €'000 ― except where stated otherwise)
(unaudited)
Three Months Ended Nine Months Ended

30 Sep

30 Sep 30 Sep 30 Sep
2015 2014 2015 2014

Consolidated

Recurring revenue 92,753 80,863 270,101 235,466
Non-recurring revenue 5,223 5,583 15,806 15,236
Revenue 97,976 86,446 285,907 250,702
Adjusted EBITDA 43,732 37,275 126,366 107,686
Gross profit margin 60.7 % 58.9 % 60.7 % 59.3 %
Adjusted EBITDA margin 44.6 % 43.1 % 44.2 % 43.0 %
Total assets 1,208,485 1,134,861 1,208,485 1,134,861
Total liabilities 719,963 708,601 719,963 708,601
Capital expenditure, including intangible assets (a) (35,270 ) (57,041 ) (150,675 ) (168,456 )

France, Germany, the Netherlands, and the UK

Recurring revenue 59,461 50,950 171,765 147,929
Non-recurring revenue 3,758 3,901 10,380 9,904
Revenue 63,219 54,851 182,145 157,833
Adjusted EBITDA 34,907 29,226 99,525 84,408
Gross profit margin 62.3 % 60.5 % 62.3 % 61.1 %
Adjusted EBITDA margin 55.2 % 53.3 % 54.6 % 53.5 %
Total assets 852,020 760,212 852,020 760,212
Total liabilities 175,537 165,599 175,537 165,599
Capital expenditure, including intangible assets (a) (26,624 ) (37,322 ) (96,935 ) (116,495 )

Rest of Europe

Recurring revenue 33,292 29,913 98,336 87,537
Non-recurring revenue 1,465 1,682 5,426 5,332
Revenue 34,757 31,595 103,762 92,869
Adjusted EBITDA 19,784 16,767 58,104 49,198
Gross profit margin 64.3 % 61.5 % 64.2 % 62.0 %
Adjusted EBITDA margin 56.9 % 53.1 % 56.0 % 53.0 %
Total assets 308,934 263,009 308,934 263,009
Total liabilities 57,150 53,817 57,150 53,817
Capital expenditure, including intangible assets (a) (6,022 ) (17,696 ) (49,436 ) (47,648 )

Corporate and other

Adjusted EBITDA (10,959 ) (8,718 ) (31,263 ) (25,920 )
Total assets 47,531 111,640 47,531 111,640
Total liabilities 487,276 489,185 487,276 489,185
Capital expenditure, including intangible assets (a) (2,624 ) (2,023 ) (4,304 ) (4,313 )

(a) Capital expenditure, including intangible assets, represents 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: ADJUSTED EBITDA RECONCILIATION
(in €'000 ― except where stated otherwise)
(unaudited)
Three Months Ended Nine Months Ended
30 Sep 30 Sep 30 Sep 30 Sep
2015 2014 2015 2014

Reconciliation to Adjusted EBITDA

Consolidated

Net profit 10,415 8,994 36,427 27,675
Income tax expense 4,737 3,855 15,368 11,992
Profit before taxation 15,152 12,849 51,795 39,667
Net finance expense 6,407 6,986 20,938 19,875
Operating profit 21,559 19,835 72,733 59,542
Depreciation, amortisation and impairments 20,251 16,025 58,043 44,870
EBITDA 41,810 35,860 130,776 104,412
Share-based payments 1,664 1,472 5,694 4,246
Increase/(decrease) in provision for onerous lease contracts (84 ) - (184 ) (805 )
M&A transaction break fee income (a) - - (20,923 ) -
M&A transaction costs (b) 484 - 11,282 -
Income from sub-leases on unused data centre sites (142 ) (57 ) (279 ) (167 )
Adjusted EBITDA 43,732 37,275 126,366 107,686

France, Germany, the Netherlands, and the UK

Operating profit 21,714 18,420 61,516 55,452
Depreciation, amortisation and impairments 13,066 10,528 37,327 28,968
EBITDA 34,780 28,948 98,843 84,420
Share-based payments 353 335 1,145 960
Increase/(decrease) in provision for onerous lease contracts (84 ) - (184 ) (805 )
Income from sub-leases on unused data centre sites (142 ) (57 ) (279 ) (167 )
Adjusted EBITDA 34,907 29,226 99,525 84,408

Rest of Europe

Operating profit 13,464 11,857 40,017 35,158
Depreciation, amortisation and impairments 6,113 4,610 17,475 13,386
EBITDA 19,577 16,467 57,492 48,544
Share-based payments 207 300 612 654

Adjusted EBITDA

19,784 16,767 58,104 49,198

Corporate and Other

Operating profit/(loss) (13,619 ) (10,442 ) (28,800 ) (31,068 )
Depreciation, amortisation and impairments 1,072 887 3,241 2,516
EBITDA (12,547 ) (9,555 ) (25,559 ) (28,552 )
Share-based payments 1,104 837 3,937 2,632
M&A transaction break fee income (a) - - (20,923 ) -
M&A transaction costs (b) 484 - 11,282 -
Adjusted EBITDA (10,959 ) (8,718 ) (31,263 ) (25,920 )

(a) On 9 March 2015 the Company signed the definitive agreement on an all-share merger (the “Implementation Agreement”) with TelecityGroup plc("TelecityGroup") on the terms as announced on 11 February 2015. Following termination of the Implementation Agreement on 29 May 2015, the Company received a cash break-up fee of £15 million from TelecityGroup which is reported as “Other income”.

(b) M&A transaction costs represent expenses associated with the Implementation Agreement and its subsequent termination on 29 May 2015.

INTERXION HOLDING NV
CONSOLIDATED BALANCE SHEET
(in €'000 ― except where stated otherwise)
(unaudited)
As at
30 Sep 31 Dec
2015 2014

Non-current assets

Property, plant and equipment 974,895 895,184
Intangible assets 22,237 18,996
Deferred tax assets 23,629 30,064
Financial assets - 774
Other non-current assets 6,255 5,750
1,027,016 950,768
Current assets
Trade receivables and other current assets 131,439 120,762
Short term investments - 1,650
Cash and cash equivalents 50,030 99,923
181,469 222,335
Total assets 1,208,485 1,173,103
Shareholders’ equity
Share capital 6,957 6,932
Share premium 502,621 495,109
Foreign currency translation reserve 18,819 10,440
Hedging reserve, net of tax (213 ) (247 )
Accumulated deficit (39,662 ) (76,089 )
488,522 436,145
Non-current liabilities
Trade payables and other liabilities 12,858 12,211
Deferred tax liabilities 9,897 7,029
Provision for onerous lease contracts - 1,491
Borrowings 539,482 540,530
562,237 561,261
Current liabilities
Trade payables and other liabilities 148,485 146,502
Income tax liabilities 4,516 4,690
Provision for onerous lease contracts 2,379 3,443
Borrowings 2,346 21,062
157,726 175,697
Total liabilities 719,963 736,958
Total liabilities and shareholders’ equity 1,208,485 1,173,103
INTERXION HOLDING NV
NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS
(in €'000 ― except where stated otherwise)
(unaudited)
As at
30 Sep 31 Dec
2015 2014

Borrowings net of cash and cash equivalents

Cash and cash equivalents (a) 50,030 99,923
6.00% Senior Secured Notes due 2020 (b) 475,539 475,643
Mortgages 30,187 31,487
Financial leases 34,497 52,857
Other borrowings 1,605 1,605
Borrowings excluding Revolving Facility deferred financing costs 541,828 561,592
Revolving Facility deferred financing costs (c) (779 ) (995 )
Total borrowings 541,049 560,597
Borrowings net of cash and cash equivalents 491,019 460,674

(a) Cash and cash equivalents include €4.3 million as of 30 September 2015 and €7.1 million as of 31 December 2014, which is restricted and held as collateral to support the issuance of bank guarantees on behalf of a number of subsidiary companies.

(b) €475 million 6.00% Senior Secured Notes due 2020 include a premium on the additional issuance and are shown after deducting underwriting discounts and commissions, offering fees and expenses.

(c) Deferred financing costs of €0.8 million as of 30 September 2015 were incurred in connection with the €100 million revolving facility.

INTERXION HOLDING NV
CONSOLIDATED STATEMENT OF CASH FLOWS
(in €'000 ― except where stated otherwise)
(unaudited)
Three Months Ended Nine Months Ended
30 Sep 30 Sep 30 Sep 30 Sep
2015 2014 2015 2014
Net profit 10,415 8,994 36,427 27,675
Depreciation, amortisation and impairments 20,251 16,025 58,043 44,870
Provision for onerous lease contracts (879 ) (859 ) (2,653 ) (3,313 )
Share-based paymens 1,664 1,472 5,694 4,246
Net finance expense 6,407 6,986 20,938 19,875
Income tax expense 4,737 3,855 15,368 11,992
42,595 36,473 133,817 105,345
Movements in trade receivables and other current assets (216 ) (7,848 ) (9,581 ) (19,077 )
Movements in trade payables and other liabilities 584 5,012 7,067 8,607
Cash generated from operations

42,963

33,637 131,303 94,875
Interest and fees paid (a) (14,107 ) (11,711 ) (29,129 ) (23,772 )
Interest received 37 114 117 238
Income tax paid (4,107 ) (1,950 ) (9,167 ) (4,151 )
Net cash flows from / (used in) operating activities 24,786 20,090 93,124 67,190
Cash flows from investing activities
Purchase of property, plant and equipment (33,399 ) (56,251 ) (145,628 ) (166,276 )
Purchase of intangible assets (1,871 ) (790 ) (5,047 ) (2,180 )
Proceeds from sale of financial asset 3,063 - 3,063 -
Redemption of short-term investments - - 1,650 -
Net cash flows from / (used in) investing activities (32,207 ) (57,041 ) (145,962 ) (168,456 )
Cash flows from financing activities
Proceeds from exercised options 12 1,444 2,420 2,846
Proceeds from mortgages - - - 9,185
Repayment of mortgages (320 ) (320 ) (1,360 ) (1,054 )
Proceeds revolving facility - - - 30,000
Repayments revolving facility - - - (30,000 )
Proceeds 6.00% Senior Secured Notes due 2020 - (504 ) - 157,878
Interest received at issue of Additional Notes - - - 2,600
Interest paid related to interest received at issue of Additional Notes - (2,600 ) - (2,600 )
Transaction costs related to Senior Secured Facility - (275 ) - (646 )
Repayment of other borrowings (31 ) 8 (31 ) (15 )
Net cash flows from / (used in) financing activities (339 ) (2,247 ) 1,029 168,194
Effect of exchange rate changes on cash 692 73 1,916 137
Net increase / (decrease) in cash and cash equivalents (7,068 ) (39,125 ) (49,893 ) 67,065
Cash and cash equivalents, beginning of period 57,098 151,880 99,923 45,690
Cash and cash equivalents, end of period 50,030 112,755 50,030 112,755

(a) Interest paid is reported net of cash interest capitalized, which is reported as part of “Purchase of property, plant and equipment".

INTERXION HOLDING NV
NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED NET PROFIT RECONCILIATION
(in € millions ― except per share data and where stated otherwise)
(unaudited)
Three Months Ended Nine Months Ended
30 Sep 30 Sep 30 Sep 30 Sep
2015 2014 2015 2014
(€ in millions - except per share data)
Net profit - as reported 10.4 9.0 36.4 27.7
Add back
+ Refinancing charges - - - 0.6
+ M&A transaction costs 0.5 - 11.3 -
0.5 - 11.3 0.6
Reverse
- M&A transaction break fee income - - (20.9 ) -
- Profit on sale of financial asset (2.3 ) - (2.3 ) -
- Increase / (decrease) in provision for onerous lease contracts (0.1 ) - (0.2 ) (0.8 )
- Interest capitalised (0.4 ) (1.3 ) (2.0 ) (3.0 )
(2.8 ) (1.3 ) (25.4 ) (3.8 )
Tax effect of above add backs & reversals 0.6 0.3 3.5 0.8
Adjusted net profit 8.7 8.0 25.8 25.4
Reported basic EPS: (€) 0.15 0.13 0.52 0.40
Reported diluted EPS: (€) 0.15 0.13 0.52 0.40
Adjusted basic EPS: (€) 0.12 0.12 0.37 0.37
Adjusted diluted EPS: (€) 0.12 0.11 0.37 0.36
INTERXION HOLDING NV
Status of Announced Expansion Projects as at 4 November 2015
with Target Open Dates after 1 January 2015

Equipped

CAPEX (a) (b)

Space (a)

Market Project (€million) (sqm) Target Opening Dates
Amsterdam AMS 7: Phases 1 - 6 New Build 115 7,600 fully opened
Amsterdam AMS 8: Phases 1 - 2 New Build 50 2,600 4Q 2016
Copenhagen CPH2: Phase 1 New Build 4 500 3Q 2016
Dublin DUB3: Phases 1 - 2 New Build 28 1,200 4Q 2016
Dusseldorf DUS 1: Phase 3 Expansion 3 400 fully opened
Dusseldorf DUS 2: Phase 1 New Build 13 600 1Q 2016
Frankfurt FRA 10: Phases 1 - 4 New Build 92 4,800 1Q 2016 - 4Q 2016 (c)
Madrid MAD 2: Phase 2 Expansion 4 800 fully opened
Marseille MRS 1: Phases 1 - 2 20 1,400 fully opened (d)
Stockholm STO 4: New Build 15 1,100 fully opened
Vienna VIE 2: New Build 42 2,800 4Q 2014 - 4Q 2015 (e)
Total € 386 23,800

(a) CAPEX and Equipped space are approximate and may change. Figures are rounded to nearest 100 sqm unless otherwise noted.

(b) CAPEX reflects the total spend for the projects listed at full power and capacity and the amounts shown in the table above may be invested over the duration of more than one fiscal year.

(c) Phases 1 and 2 (1,200 square metres each) are scheduled to become operational in 1Q 2016 and 2Q 2016, respectively; phases 3 & 4 (1,200 square metres each) are scheduled to become operational in 4Q 2016.

(d) Phase 1 (600 square metres) became operational in 4Q 2014. Phase 2 (800 square metres) became available in 3Q 2015.

(e) In 4Q 2014, 1,300 square metres became operational; in 1Q 2015, 600 square metres became operational; in 2Q 2015, 600 square metres became operational. In 4Q 2015, 300 square metres are scheduled to become operational.

Contact:
Interxion Holding NV
Jim Huseby, +1-813-644-9399
Investor Relations
IR@interxion.com

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