INXN InterXion Holding NV

Filed by Interxion Holding N.V.

Pursuant to Rule 425 under the Securities Act of 1933

Subject Company: Interxion Holding N.V.
Filer's SEC File No.: 001-35053
Date: May 7, 2015

This filing relates to a proposed business combination involving TelecityGroup plc and
Interxion Holding N.V.

Press Release, 7 May 2015

Interxion Reports First Quarter 2015 Results

Strong Quarter with Growth Across Key Financial and Operating Metrics

AMSTERDAM 7 May 2015 – Interxion Holding NV (NYSE: INXN), a leading European provider of cloud and carrier-neutral colocation data centre services, announced its results today for the three months ended 31 March 2015.

Financial Highlights

 

•

Revenue increased by 15% to €92.5 million (1Q 2014: €80.6 million).

 

•

Adjusted EBITDA increased by 18% to €40.6 million (1Q 2014: €34.5 million).

 

•

Adjusted EBITDA margin increased to 43.9% (1Q 2014: 42.9%).

 

•

M&A transaction costs were €6.9 million before tax.

 

•

Net profit decreased to €4.4 million (1Q 2014: €10.4 million).

 

•

Earnings per diluted share were €0.06 (1Q 2014: €0.15).

 

•

Capital Expenditures, including intangible assets1, were €67.6 million (1Q 2014: €57.0 million).

 

 

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.

 

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Press Release, 7 May 2015

 

Operating Highlights

 

•

Equipped Space increased by 1,300 square metres to 94,800 square metres.

 

•

Revenue Generating Space increased by 3,000 square metres to 74,000 square metres.

 

•

Utilisation Rate at the end of the quarter was 78%.

 

•

Completed Expansion projects in Amsterdam and Vienna.

 

•

Completed purchase of Vienna campus.

“Interxion delivered a strong financial and operating performance in the first quarter, building on the momentum we saw in 2014,” said David Ruberg, Interxion’s Chief Executive Officer. “We continued to capitalise on strong customer orders and installations, resulting in a 21 percent year-over-year increase in revenue generating space and a utilisation rate of 78 percent, consistent with our disciplined strategy to expand to meet customer needs. The steady improvement across our key performance metrics reflects the underlying strength of our business model, the attractiveness of our communities of interest strategy and our disciplined capital expansion plan. Looking ahead, our expansion plans remain on track, with a number of value-enhancing projects scheduled for completion as we progress through the year.”

Quarterly Review

Revenue in the first quarter of 2015 was €92.5 million, a 15% increase over the first quarter of 2014 and a 3% increase over the fourth quarter of 2014. Recurring revenue was €87.1 million, a 15% increase over the first quarter of 2014 and a 4% increase over the fourth quarter of 2014. Recurring revenue in the quarter was 94% of total revenue.

 

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Cost of sales in the first quarter of 2015 was €36.3 million, an 11% increase over the first quarter of 2014 and a 2% decrease over the fourth quarter of 2014.

Gross profit was €56.2 million in the first quarter of 2015, a 17% increase over the first quarter of 2014 and a 6% increase over the fourth quarter of 2014. Gross profit margin in the first quarter of 2015 was 60.8%, compared with 59.6% in the first quarter of 2014 and 58.9% in the fourth quarter of 2014.

Sales and marketing costs in the first quarter of 2015 were €6.7 million, up 14% compared to the first quarter of 2014 and a 2% increase over the fourth quarter of 2014.

Other general and administrative costs² were €8.9 million, a 17% increase compared to the first quarter of 2014 and a 15% increase compared to the fourth quarter of 2014.

Adjusted EBITDA for the first quarter of 2015 was €40.6 million, up 18% compared to the first quarter of 2014 and a 5% increase compared to the fourth quarter of 2014. Adjusted EBITDA margin was 43.9% in the first quarter of 2015 compared to 42.9% in the first quarter of 2014 and 43.0% in the fourth quarter of 2014.

Depreciation, amortisation, and impairments in the first quarter of 2015 was €18.2 million, an increase of 30% compared to the first quarter of 2014 and an increase of 5% from the fourth quarter of 2014.

Operating profit during the first quarter of 2015 was €13.4 million, a decrease of 33% compared to the first quarter of 2014 and a decrease of 29% from the fourth quarter of 2014. M&A transaction costs relating to the previously announced transaction with TelecityGroup were €6.9 million in the first quarter of 2015. Excluding M&A transaction costs, operating profit was €20.3 million in the first quarter of 2015, an increase of 2% compared to the first quarter of 2014 and an increase of 6% compared to the fourth quarter of 2014.

 

 

2	Other general administrative costs represents general and administrative costs excluding depreciation, amortisation, impairments, share based payments, M&A transaction costs, and increase/(decrease) in provision for onerous lease contracts.

 

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Net finance costs for the first quarter of 2015 were €6.6 million, a 22% increase compared to the first quarter of 2014, and a 18% decrease compared to the fourth quarter of 2014.

Income tax expense for the first quarter of 2015 was €2.4 million, a 43% decrease compared to the first quarter of 2014, and a 30% decrease compared to the fourth quarter of 2014.

Net profit was €4.4 million in the first quarter of 2015, a 57% decrease compared to €10.4 million in the first quarter of 2014, and a 40% decrease compared to €7.4 million in the fourth quarter of 2014.

Adjusted net profit³, was €8.9 million in the first quarter of 2015, a 9% decrease compared to the first quarter of 2014, and a 23% increase compared to the fourth quarter of 2014.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €34.2 million in the first quarter of 2015, slightly lower than the first quarter of 2014, and a 16% decrease from the fourth quarter of 2014.

Capital expenditures, including intangible assets and the purchase of the Vienna campus, were €67.6 million in the first quarter of 2015 compared to €57.0 million in the first quarter of 2014 and €47.8 million in the fourth quarter of 2014.

Cash and cash equivalents were €54.0 million at 31 March 2015, compared to €99.9 million at year end 2014. Total borrowings, net of deferred revolving facility financing fees, were €541.7 million at 31 March 2015 compared to €560.6 million at year end 2014. As of 31 March 2015, the company’s revolving credit facility was undrawn.

 

 

3	We define Adjusted Net Profit as net profit excluding the impact of the refinancing charge, capitalised interest, deferred tax adjustments, Dutch crisis tax, M&A transaction costs, increase/decrease in provision for onerous lease contracts, and the related corporate income tax effect.

 

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Equipped space at the end of the first quarter of 2015 was 94,800 square metres compared to 82,900 square metres at the end of first quarter of 2014 and 93,500 square metres at the end of the fourth quarter 2014. Utilisation rate, the ratio of revenue-generating space to equipped space, was 78% at the end of the first quarter of 2015, compared with 74% at the end of the first quarter of 2014 and 76% at the end of the fourth quarter of 2014.

Business Outlook

Interxion today reaffirms its guidance for its expected results as an independent company 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 BST, 2:30 pm CET) to discuss Interxion’s first quarter 2015 results.

To participate on 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 13 May 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 23610917.

 

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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”). In addition, the negotiations for the business combination may not advance, and even if they do, it may not be possible to enter into definitive documentation on satisfactory terms and close the agreement.

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, increase/decrease in provision for onerous lease contracts, Dutch crisis tax, M&A transaction costs and, income from sub-leases on 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 credit 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 income statement included elsewhere in this press release.

 

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Adjusted diluted earnings per share amounts are determined on Adjusted Net Profit. A reconciliation from reported Net Profit to Adjusted Net Profit is included elsewhere in this press release.

Other companies, however, may 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, transaction costs or increase/decrease in provision for onerous lease contracts, and income from sub-leases on 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.

No Offer or Solicitation

This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transactions or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and applicable United Kingdom regulations. Subject to certain exceptions to be approved by the relevant regulators or certain facts to be ascertained, the public offer will not be made directly or indirectly, in or into any jurisdiction where to do so would constitute a violation of the laws of such jurisdiction, or by use of the mails or by any means or instrumentality (including without limitation, facsimile transmission, telephone and the internet) of interstate or foreign commerce, or any facility of a national securities exchange, of any such jurisdiction. No prospectus is required in accordance with Directive 2003/71/EC, as amended, in connection with this communication.

 

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Press Release, 7 May 2015

 

Important Information

TelecityGroup has not commenced and may not make an offer to purchase Interxion shares as described in this communication. In the event that TelecityGroup makes an offer (as the same may be varied or extended in accordance with applicable law), TelecityGroup will file a registration statement on Form F-4, which will include a prospectus and joint proxy statement of TelecityGroup and Interxion, and a Tender Offer statement on Schedule TO (the “Schedule TO”). If an offer is made it will be made exclusively by means of, and subject to, the terms and conditions set out in, an offer document containing and setting out the terms and conditions of the offer and a letter of transmittal and form of acceptance to be delivered to Interxion, filed with the SEC and mailed to Interxion shareholders. Any offer in the United States will be made by TelecityGroup or an affiliate of TelecityGroup and not by any other person.

The release, publication or distribution of this communication in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this communication is released, published or distributed should inform themselves about and observe such restrictions.

IF AN OFFER IS MADE, SHAREHOLDERS OF INTERXION ARE URGED TO READ ANY DOCUMENTS REGARDING THE OFFER WHEN THEY BECOME AVAILABLE (INCLUDING THE EXHIBITS THERETO) AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE OFFER.

If an offer is made, the registration statement, the joint proxy statement, the Schedule TO and other related documents will be available electronically without charge at the SEC’s website, www.sec.gov, after they have been filed. Any materials filed with the SEC may also be obtained without charge at TelecityGroup’s website, www.telecitygroup.com. This communication does not constitute an offer or a solicitation in any jurisdiction in which such offer or solicitation is unlawful. An offer will not be made in, nor will deposits be accepted in, any jurisdiction in which the making or acceptance thereof would not be in compliance with the laws of such jurisdiction. However, if an offer is made, TelecityGroup may, in its sole discretion, take such action as it may deem necessary to extend an offer in any such jurisdiction.

-ENDS-

 

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Press Release, 7 May 2015

 

About Interxion

Interxion (NYSE: INXN) is a leading provider of carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through 39 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.

Contact information:

Interxion

Jim Huseby

Investor Relations

Tel: +1-813-644-9399

IR@interxion.com

 

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INTERXION HOLDING NV

CONSOLIDATED INCOME STATEMENT

(in €’000 — except per share data and where stated otherwise)

(unaudited)

 

		Three Months Ended
		31 Mar				31 Mar
		2015				2014
Revenue			92,482				80,610
Cost of sales			(36,282	)			(32,578	)
Gross profit			56,200				48,032
Other income			63				60
Sales and marketing costs			(6,679	)			(5,880	)
General and administrative costs			(36,159	)			(22,231	)
Operating profit			13,425				19,981
Net finance expense			(6,585	)			(5,401	)
Profit before taxation			6,840				14,580
Income tax expense			(2,415	)			(4,221	)
Net profit			4,425				10,359
Basic earnings per share: (€)			0.06				0.15
Diluted earnings per share: (€)			0.06				0.15
Number of shares outstanding at the end of the period (shares in thousands)			69,559				68,898
Weighted average number of shares for Basic EPS (shares in thousands)			69,393				68,871
Weighted average number of shares for Diluted EPS (shares in thousands)			70,329				69,619

 

		As at
		31 Mar				31 Mar
Capacity metrics		2015				2014
Equipped space (in square meters)			94,800				82,900
Revenue generating space (in square meters)			74,000				61,400
Utilisation rate			78	%			74	%

 

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Press Release, 7 May 2015

 

INTERXION HOLDING NV

NOTES TO CONSOLIDATED INCOME STATEMENT: SEGMENT INFORMATION

(in €’000 — except where stated otherwise)

(unaudited)

 

		Three Months Ended
		31 Mar				31 Mar
		2015				2014
Consolidated
Recurring revenue			87,051				75,871
Non-recurring revenue			5,431				4,739
Revenue			92,482				80,610
Adjusted EBITDA			40,605				34,545
Gross profit margin			60.8	%			59.6	%
Adjusted EBITDA margin			43.9	%			42.9	%
Total assets			1,188,761				941,658
Total liabilities			731,366				542,343
Capital expenditure, including intangible assets (i)			(67,570	)			(57,005	)
France, Germany, the Netherlands, and the UK
Recurring revenue			54,983				47,640
Non-recurring revenue			3,627				3,132
Revenue			58,610				50,772
Adjusted EBITDA			31,370				27,294
Gross profit margin			62.0	%			61.8	%
Adjusted EBITDA margin			53.5	%			53.8	%
Total assets			824,515				645,929
Total liabilities			181,390				138,082
Capital expenditure, including intangible assets (i)			(33,766	)			(43,592	)
Rest of Europe
Recurring revenue			32,068				28,231
Non-recurring revenue			1,804				1,607
Revenue			33,872				29,838
Adjusted EBITDA			18,978				15,798
Gross profit margin			64.6	%			62.2	%
Adjusted EBITDA margin			56.0	%			52.9	%
Total assets			312,666				237,874
Total liabilities			58,898				43,981
Capital expenditure, including intangible assets (i)			(33,125	)			(12,683	)
Corporate and other
Adjusted EBITDA			(9,743	)			(8,547	)
Total assets			51,580				57,855
Total liabilities			491,078				360,280
Capital expenditure, including intangible assets (i)			(679	)			(730	)

 

(i)	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.

 

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INTERXION HOLDING NV

NOTES TO CONSOLIDATED INCOME STATEMENT: ADJUSTED EBITDA RECONCILIATION

(in €’000 — except where stated otherwise)

(unaudited)

 

		Three Months Ended
		31 Mar				31 Mar
		2015				2014
Reconciliation to Adjusted EBITDA
Consolidated
Net profit			4,425				10,359
Income tax expense			2,415				4,221
Profit before taxation			6,840				14,580
Net finance expense			6,585				5,401
Operating profit			13,425				19,981
Depreciation, amortisation and impairments			18,215				13,981
EBITDA			31,640				33,962
Share-based payments			2,241				643
Increase/(decrease) in provision for onerous lease contracts			(100	)			—
M&A transaction costs			6,887				—
Income from sub-leases on unused data centre sites			(63	)			(60	)
Adjusted EBITDA			40,605				34,545
France, Germany, the Netherlands, and the UK
Operating profit			19,483				18,284
Depreciation, amortisation and impairments			11,717				8,919
EBITDA			31,200				27,203
Share-based payments			333				151
Increase/(decrease) in provision for onerous lease contracts			(100	)			—
Income from sub-leases on unused data centre sites			(63	)			(60	)
Adjusted EBITDA			31,370				27,294
Rest of Europe
Operating profit			13,347				11,468
Depreciation, amortisation and impairments			5,435				4,280
EBITDA			18,782				15,748
Share-based payments			196				50
Adjusted EBITDA			18,978				15,798
Corporate and Other
Operating profit/(loss)			(19,405	)			(9,771	)
Depreciation, amortisation and impairments			1,063				782
EBITDA			(18,342	)			(8,989	)
Share-based payments			1,712				442
M&A transaction costs			6,887				—
Adjusted EBITDA			(9,743	)			(8,547	)

 

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INTERXION HOLDING NV

CONSOLIDATED BALANCE SHEET

(in €’000 — except where stated otherwise)

(unaudited)

 

		As at
		31 Mar				31 Dec
		2015				2014
Non-current assets
Property, plant and equipment			944,232				895,184
Intangible assets			21,055				18,996
Deferred tax assets			31,107				30,064
Financial assets			774				774
Other non-current assets			7,180				5,750
			1,004,348				950,768
Current assets
Trade and other current assets			128,781				120,762
Short term investments			1,650				1,650
Cash and cash equivalents			53,982				99,923
			184,413				222,335
Total assets			1,188,761				1,173,103
Shareholders’ equity
Share capital			6,956				6,932
Share premium			499,181				495,109
Foreign currency translation reserve			23,193				10,440
Hedging reserve, net of tax			(271	)			(247	)
Accumulated deficit			(71,664	)			(76,089	)
			457,395				436,145
Non-current liabilities
Trade payables and other liabilities			12,353				12,211
Deferred tax liabilities			9,217				7,029
Provision for onerous lease contracts			625				1,491
Borrowings			540,319				540,530
			562,514				561,261
Current liabilities
Trade payables and other liabilities			157,930				146,502
Income tax liabilities			5,153				4,690
Provision for onerous lease contracts			3,423				3,443
Borrowings			2,346				21,062
			168,852				175,697
Total liabilities			731,366				736,958
Total liabilities and shareholders’ equity			1,188,761				1,173,103

 

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INTERXION HOLDING NV

NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS

(in €’000 — except where stated otherwise)

(unaudited)

 

		As at
		31 Mar				31 Dec
		2015				2014
Borrowings net of cash and cash equivalents
Cash and cash equivalents (ii)			53,982				99,923
6.00% Senior Secured Notes due 2020 (iii)			475,608				475,643
Mortgages			31,187				31,487
Financial leases			34,265				52,858
Other borrowings			1,605				1,605
Borrowings excluding Revolving Facility deferred financing costs			542,665				561,593
Revolving Facility deferred financing costs (iv)			(923	)			(995	)
Total borrowings			541,742				560,598
Borrowings net of cash and cash equivalents			487,760				460,675

 

(ii)	Cash and cash equivalents include €4.2 million as of 31 March 2015 and €5.3 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.

(iii)

€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.

(iv)	Deferred financing costs of €0.9 million as of 31 March 2015 were incurred in connection with the €100 million revolving facility.

 

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INTERXION HOLDING NV

CONSOLIDATED STATEMENT OF CASH FLOWS

(in €’000 — except where stated otherwise)

(unaudited)

 

		Three Months Ended
		31 Mar				31 Mar
		2015				2014
Profit for the period			4,425				10,359
Depreciation, amortisation and impairments			18,215				13,981
Provision for onerous lease contracts			(925	)			(819	)
Share-based payments			2,241				643
Net finance expense			6,585				5,401
Income tax expense			2,415				4,221
			32,956				33,786
Movements in trade and other current assets			(1,631	)			(800	)
Movements in trade and other liabilities			2,874				1,306
Cash generated from operations			34,199				34,292
Interest and fees paid (*)			(13,574	)			(10,826	)
Interest received			49				67
Income tax paid			(2,320	)			(358	)
Net cash flows from operating activities			18,354				23,175
Cash flows from investing activities
Purchase of property, plant and equipment			(65,318	)			(56,391	)
Purchase of intangible assets			(2,252	)			(614	)
Net cash flows from investing activities			(67,570	)			(57,005	)
Cash flows from financing activities
Proceeds from exercised options			2,178				256
Repayment of mortgages			(320	)			(167	)
Proceeds Revolving Facility			—				30,000
Repayment of other borrowings			—				(11	)
Net cash flows from financing activities			1,858				30,078
Effect of exchange rate changes on cash			1,417				1
Net movement in cash and cash equivalents			(45,941	)			(3,751	)
Cash and cash equivalents, beginning of period			99,923				45,690
Cash and cash equivalents, end of period			53,982				41,939

 

(*)	Interest paid is reported net of cash interest capitalised, which is reported as part of “Purchase of property, plant and equipment”.

 

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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
		31 Mar				31 Mar
		2015				2014
Net profit - as reported			4.4				10.4
Add back
+ M&A transaction costs			6.9				—
			6.9				—
Reverse
- Adjustments to onerous lease			(0.1	)			—
- Interest capitalised			(0.9	)			(0.8	)
			(1.0	)			(0.8	)
Tax effect of above add backs & reversals			(1.4	)			0.2
Adjusted Net profit			8.9				9.8
Reported Basic EPS: (€)			0.06				0.15
Reported Diluted EPS: (€)			0.06				0.15
Adjusted Basic EPS: (€)			0.13				0.14
Adjusted Diluted EPS: (€)			0.13				0.14

 

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INTERXION HOLDING NV

Status of Announced Expansion Projects as at 7 May 2015

with Target Open Dates after 1 January 2015

 

Market

Project

CAPEX (a, b) (€million)

Equipped Space (a) (sqm)

Target Opening Dates

Amsterdam

AMS 7: Phases 1 - 6 New Build

115

7,400

1Q 2014 - 2Q 2015 (c)

Dusseldorf

DUS 1: Phase 3 Expansion

3

400

2Q 2015

Frankfurt

FRA 10: Phases 1 - 2 New Build

92

4,800

1H 2016 (d)

Madrid

MAD 2: Phase 2 Expansion

4

800

3Q 2015

Marseille

MRS 1: Phases 1 - 2

20

1,400

4Q 2014 - 2Q 2015(e)

Stockholm

STO 4: New Build

15

1,100

2Q 2015

Vienna

VIE 2: New Build

42

2,800

4Q 2014 - 4Q 2015 (f)

Total

€

291

18,700

 

(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)

Phase 1 (1,100 square metres) became operational in 1Q 2014; phase 2 (1,000 square metres) became operational in 2Q 2014; Phase 3 (1,500 square metres) became operational in 3Q 2014; phase 4 (1,300 square metres) became operational in 4Q 2014; phase 5 (1,300 square metres) became operational in 1Q 2015; Phase 6 (1,200 square meters) is scheduled for 2Q 2015.

(d)	Phases 1 and 2 (1,200 square metres each) are scheduled to become operational in 1H 2016. Construction of phases 3 & 4 (1,200 square metres each) has not yet been announced.

(e)	Phase 1 (600 square metres) became operational in 4Q 2014. Phase 2 (800 square metres) is scheduled to become available in 2Q 2015. Marseille costs include the purchase of land, buildings, and data centre equipment.

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

 

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