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August 6, 2015

Interxion’s strong Q2 boosted by Telecity/Equinix payoff

Cloud customers help colo’s positive Q2, as colo expands data centre footprint in Europe.

By Joao Lima

Interxion is the last data centre giant to report its Q2 results, which have been largely positive due to cloud adoption and Telecity‘s payment of a breaking up fee following its merger with Equinix.

The company reported revenues of €95.4 million for Q2, up 14% from the same period last year when it posted €83.6 million. Recurring revenue was €90.3 million, a 15% increase over Q2 2014

Net profit increased to €21.6 million from Q2 2014’s €8.3 million, while gross profit was €57.8 million – a 16% increase over the second quarter of 2014 and a 3% increase over the first quarter of 2015

Operating profit was €37.7 million, compared to €19.7 million in the second quarter of 2014 and €13.4 million in the first quarter of 2015.

Interxion also received a €20.9 million payment in Q2 of 2015 relating to the termination of Interxion’s implementation agreement with TelecityGroup.

M&A transaction costs in the last quarter relating to the transaction were €3.9 million. Excluding transaction related items, operating profit was €20.7 million in Q2 2015, an increase of 5% over the second quarter of 2014 and an increase of 2% over the first quarter of 2015.

Adjusted EBITDA for the second quarter of 2015 was €42.0 million, a 17% increase over the second quarter of 2014 and a 4% increase over Q1 2015.

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Capital expenditures, including intangible assets, were €47.8 million in the second quarter of 2015 compared to €54.4 million in Q2 2014 and €67.6 million in Q1 2015.

David Ruberg, Interxion’s CEO, said: "Our disciplined, customer-led investment approach coupled with strong demand helped drive solid year-over-year revenue growth and margin expansion. We strengthened our market position by installing key magnetic customers, particularly in the cloud segment, and continued to grow our communities of interest across our pan-European footprint."

Following the results, the colo unveiled plans to build a second data centre in Dusseldorf ("DUS2"), Germany.

The company said DUS2 will provide approximately 1,200 square metres of equipped space in two phases, with a total of approximately 2MW of customer available power. The first phase with approximately 600 square metres of equipped space is scheduled to open in Q1 2016.

Ruberg added: "DUS2 will provide additional capacity to service the growing demand we are experiencing in Dusseldorf across multiple segments, including Digital Media, Enterprise, and Connectivity."

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