INXN InterXion Holding NV

Interxion Holding NV (NYSE:INXN), a leading European provider of cloud and carrier-neutral colocation data centre services, today announced its results for the three months ended 30 September 2014.

Financial Highlights

• Revenue increased by 11% to €86.4 million (Q3 2013: €78.1 million).
• Adjusted EBITDA increased by 11% to €37.3 million (Q3 2013: €33.7 million).
• Adjusted EBITDA margin was 43.1% (Q3 2013: 43.1%).
• Net profit increased to €9.0 million (Q3 2013: €16.5 million loss).
• Capital expenditure, including intangible assets, was €57.0 million.

Operating Highlights

• Revenue Generating Space increased by 4,200 square metres to 68,500 square metres.
• Equipped Space increased by 2,600 square metres to 88,600 square metres.
• Utilisation Rate at the end of the quarter was 77%.
• Expansion in Amsterdam and a new data centre opened in Stockholm.
• Completed the purchase of the SFR data centre in Marseille, France, as previously announced.

“Interxion delivered solid operating and financial results in the quarter. Revenue Generating Space increased by 4,200 square meters (+7%) over Q2 2014 and revenue growth improved to 11% year over year,” said Interxion Chief Executive Officer, David Ruberg. “Our community of interest strategy continues to show attractive results, as magnetic cloud service providers are being installed with signs of increased activity among community members starting to emerge.”

Quarterly Review

Revenue in the third quarter of 2014 was €86.4 million, an 11% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014. Recurring revenue was €80.9 million, a 10% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014.

Cost of sales in the third quarter of 2014 was €35.5 million, a 12% increase over the third quarter of 2013 and a 5% increase over the second quarter of 2014.

Gross profit was €50.9 million in the third quarter of 2014, a 10% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014. Gross profit margin in the third quarter of 2014 was 58.9%, compared with 59.2% in the third quarter of 2013 and 59.4% in the second quarter of 2014.

Sales and marketing costs in the third quarter of 2014 were €5.9 million, an 8% increase over the third quarter of 2013 and a 5% decrease from the second quarter of 2014.

General and administrative costs1 in the third quarter of 2014 were €7.7 million, a 9% increase compared with the third quarter of 2013 and a 2% increase over the second quarter of 2014. Depreciation and amortisation in the third quarter of 2014 was €16.0 million, a 5% increase compared with the third quarter of 2013 and an 8% increase over the second quarter of 2014.

Net financing costs in the third quarter of 2014 were €7.0 million, an 82% decrease compared with the third quarter of 2013 and a 7% decrease over the second quarter of 2014. During the third quarter of 2013, Interxion closed a refinancing transaction that resulted in a €31.0 million one-time charge. Excluding this charge, net financing costs in the third quarter of 2014 were 1.4% lower than adjusted third quarter 2013 net financing costs.

Income tax expense was €3.9 million in the third quarter of 2014, compared to a €4.1 million income tax benefit in the third quarter of 2013, and a 2% decrease from the second quarter of 2014. The underlying effective tax rate for the quarter was 30% unchanged from the 30% in the same period last year.

Net profit was €9.0 million in the third quarter of 2014, compared to a net loss of €16.5 million in the third quarter 2013 and an 8% increase over the second quarter of 2014. Earnings per share were €0.13 on a weighted average of 70.0 million diluted shares in the third quarter of 2014. This result compares with a net loss of €0.24 on a weighted average of 69.5 million diluted shares in the third quarter of 2013, and earnings per share of €0.12 on a weighted average of 69.8 million diluted shares in the second quarter of 2014. Adjusted diluted earnings per share2 for the third quarter of 2014 were €0.11, compared with €0.10 for the third quarter of 2013 and €0.11 for the second quarter of 2014.

Adjusted EBITDA in the third quarter of 2014 was €37.3 million, an 11% increase over the third quarter of 2013 and a 4% increase over the second quarter of 2014. Adjusted EBITDA margin was 43.1%, compared with 43.1% in the third quarter of 2013 and 42.9% in the second quarter of 2014.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €33.6 million in the third quarter of 2014, a 5% increase over the third quarter of 2013 and a 25% increase over the second quarter of 2014. Capital expenditure, including intangible assets, was €57.0 million in the third quarter of 2014, compared with €26.5 million in the third quarter of 2013 and €54.4 million in the second quarter of 2014.

Cash and cash equivalents were €112.8 million at 30 September 2014, up from €45.7 million at year-end 2013, principally due to the company adding a further €150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020, issued at 106.75 and resulting in net cash proceeds of €157.9 million, net of estimated offering fees and expenses of €2.3 million. Total borrowings, net of deferred revolving facility financing fees, were €542.7 million at the end of the third quarter of 2014, compared with €362.7 million at the end of 2013. In the quarter, the company entered into a finance lease obligation of €13.4 million relating to our AMS7 facility. The company’s €100 million revolving credit facility was undrawn at 30 September 2014.

During the quarter, the company completed its purchase of the data centre facilities in Marseille, France, from Société Française du Radiotéléphone – SFR SA (“SFR”). The company expects capital expenditure associated with the purchase of the freehold land and buildings together with the construction of the first two phases of equipped space totalling approximately 1,000 square metres to be approximately €20 million.

Equipped Space at the end of the third quarter of 2014 was 88,600 square metres, compared with 79,300 square metres at the end of the third quarter of 2013 and 86,000 square metres at the end of the second quarter of 2014.

• AMS7 (Amsterdam): Phase 3 (1,500 square metres) became operational in 3Q 2014; phase 4 (1,300 square metres) is scheduled for 4Q 2014; phases 5 and 6 (1,300 square metres each) are scheduled for 1Q 2015 and 2Q 2015, respectively;
• FRA8 (Frankfurt): Phases 3 and 4 (900 square metres each) are scheduled for 1Q 2015;
• MRS1 (Marseille): Phases 1 and 2 (500 square metres each) are scheduled for 4Q 2014 and 1Q 2015, respectively;
• STO3 (Stockholm): 900 square metres opened in 3Q 2014;
• STO4 (Stockholm): 1,100 square metres are scheduled to open in 2Q 2015;
• VIE2 (Vienna): Phase 1 (600 square metres) is scheduled to be operational in 4Q 2014; Phases 2 and 3 will deliver 1,000 square metres scheduled to be operational in 1Q 2015 and 300 square metres scheduled to be operational in 2Q 2015, and Phase 4 (900 square metres) is scheduled to open in the second half of 2015.

Revenue Generating Space at the end of the third quarter of 2014 was 68,500 square metres, compared with 59,100 square metres at the end of the third quarter of 2013 and 64,300 square metres at the end of the second quarter of 2014. Utilisation Rate, the ratio of Revenue Generating Space to Equipped Space, was 77% at the end of the third quarter of 2014, compared with 75% at the end of the third quarter of 2013 and 75% at the end of the second quarter of 2014.

Business Outlook

Interxion today reaffirmed its guidance for 2014:

Revenue   €334 million - €344 million Adjusted EBITDA €145 million - €152 million Capital expenditure (including intangibles) €200 million - €230 million  

Conference Call to Discuss Results

The company will host a conference call today at 8:30am ET (1:30pm GMT and 2:30pm CET) 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 15649465. This event will also 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 11 November 2014. 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 15649465.

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.

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, 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 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.

Adjusted diluted earnings per share amounts are determined on Adjusted Net Profit. We define Adjusted Net Profit as net profit/loss excluding the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and the related corporate income tax effect. 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, 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.

About Interxion

Interxion (NYSE:INXN) is a leading provider of cloud and carrier-neutral colocation data centre services in Europe, serving a wide range of customers through 38 data centres in 11 European countries. Interxion’s data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by over 500 connectivity providers and 20 European Internet exchanges across its footprint, Interxion has created cloud, content, finance and connectivity hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.

1 Excluding depreciation, amortisation, impairments, increase/(decrease) in provision for onerous lease contracts, and share-based payments.

2 Diluted earnings per share adjusted for the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and the related corporate income tax effect.

        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 2014 2013 2014 2013   Revenue 86,446 78,051 250,702 228,957 Cost of sales (35,531 ) (31,860 ) (102,107 ) (92,769 ) Gross profit 50,915 46,191 148,595 136,188 Other income 57 106 167 299 Sales and marketing costs (5,926 ) (5,465 ) (18,021 ) (16,452 ) General and administrative costs (25,211 ) (23,321 ) (71,199 ) (68,688 ) Operating profit 19,835 17,511 59,542 51,347 Net finance expense (6,986 ) (38,082 ) (19,875 ) (51,863 ) Profit/(loss) before taxation 12,849 (20,571 ) 39,667 (516 ) Income tax expense (3,855 ) 4,053   (11,992 ) (2,432 ) Net profit/(loss) 8,994   (16,518 ) 27,675   (2,948 )   Basic earnings per share: (€) 0.13 (0.24 ) 0.40 (0.04 ) Diluted earnings per share: (€) 0.13 (0.24 ) 0.40 (0.04 )     Number of shares outstanding at the end of the period (shares in thousands) 69,161 68,810 69,161 68,810 Weighted average number of shares for Basic EPS (shares in thousands) 69,118 68,737 68,985 68,500 Weighted average number of shares for Diluted EPS (shares in thousands) 70,039 69,487 69,921 69,283         As at 30 Sep 30 Sep

Capacity metrics

2014 2013 Equipped space (in square meters) 88,600 79,300 Revenue generating space (in square meters) 68,500 59,100 Utilisation rate 77 % 75 %           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 2014 2013 2014 2013

Consolidated

  Recurring revenue 80,863 73,708 235,466 216,858 Non-recurring revenue 5,583   4,343   15,236   12,099   Revenue 86,446   78,051   250,702   228,957   Adjusted EBITDA 37,275   33,671   107,686   98,075   Gross margin 58.9 % 59.2 % 59.3 % 59.5 % Adjusted EBITDA margin 43.1 % 43.1 % 43.0 % 42.8 %   Total assets 1,134,861 885,658 1,134,861 885,658 Total liabilities 708,601 508,180 708,601 508,180 Capital expenditure, including intangible assets (i) (57,041 ) (26,467 ) (168,456 ) (88,035 )  

France, Germany, the Netherlands, and the UK

  Recurring revenue 50,950 46,057 147,929 135,692 Non-recurring revenue 3,901   2,713   9,904   7,915   Revenue 54,851   48,770   157,833   143,607   Adjusted EBITDA 29,226   26,587   84,408   77,791   Gross margin 60.5 % 62.1 % 61.1 % 62.5 % Adjusted EBITDA margin 53.3 % 54.5 % 53.5 % 54.2 %   Total assets 760,212 590,500 760,212 590,500 Total liabilities 165,599 135,540 165,599 135,540 Capital expenditure, including intangible assets (i) (37,322 ) (17,595 ) (116,495 ) (59,316 )  

Rest of Europe

  Recurring revenue 29,913 27,651 87,537 81,166 Non-recurring revenue 1,682   1,630   5,332   4,184   Revenue 31,595   29,281   92,869   85,350   Adjusted EBITDA 16,767   14,931   49,198   44,122   Gross margin 61.5 % 60.6 % 62.0 % 61.1 % Adjusted EBITDA margin 53.1 % 51.0 % 53.0 % 51.7 %   Total assets 263,009 207,318 263,009 207,318 Total liabilities 53,817 41,438 53,817 41,438 Capital expenditure, including intangible assets (i) (17,696 ) (7,998 ) (47,648 ) (26,552 )  

Corporate and other

                Adjusted EBITDA (8,718 ) (7,847 ) (25,920 ) (23,838 )   Total assets 111,640 87,840 111,640 87,840 Total liabilities 489,185 331,202 489,185 331,202 Capital expenditure, including intangible assets (i) (2,023 ) (874 ) (4,313 ) (2,167 )  

(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.

          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 2014 2013 2014 2013  

Reconciliation to Adjusted EBITDA

 

Consolidated

  Net profit/(loss) 8,994 (16,518 ) 27,675 (2,948 ) Income tax expense 3,855   (4,053 ) 11,992   2,432   Profit/(loss) before taxation 12,849 (20,571 ) 39,667 (516 ) Net finance expense 6,986   38,082   19,875   51,863   Operating profit 19,835 17,511 59,542 51,347 Depreciation, amortisation and impairments 16,025   15,211   44,870   44,138   EBITDA 35,860 32,722 104,412 95,485 Share-based payments 1,472 1,055 4,246 2,889 Increase/(decrease) in provision for onerous lease contracts - - (805 ) - Income from sub-leases on unused data centre sites (57 ) (106 ) (167 ) (299 ) Adjusted EBITDA 37,275   33,671   107,686   98,075    

France, Germany, the Netherlands, and the UK

  Operating profit 18,420 16,745 55,452 48,971 Depreciation, amortisation and impairments 10,528   9,761   28,968   28,668   EBITDA 28,948 26,506 84,420 77,639 Share-based payments 335 187 960 451 Increase/(decrease) in provision for onerous lease contracts - - (805 ) - Income from sub-leases on unused data centre sites (57 ) (106 ) (167 ) (299 ) Adjusted EBITDA 29,226   26,587   84,408   77,791    

Rest of Europe

  Operating profit 11,857 10,218 35,158 30,635 Depreciation, amortisation and impairments 4,610   4,638   13,386   13,232   EBITDA 16,467 14,856 48,544 43,867 Share-based payments 300   75   654   255   Adjusted EBITDA 16,767   14,931   49,198   44,122    

Corporate and Other

  Operating profit/(loss) (10,442 ) (9,452 ) (31,068 ) (28,259 ) Depreciation, amortisation and impairments 887   812   2,516   2,238   EBITDA (9,555 ) (8,640 ) (28,552 ) (26,021 ) Share-based payments 837   793   2,632   2,183   Adjusted EBITDA (8,718 ) (7,847 ) (25,920 ) (23,838 )       INTERXION HOLDING NV CONSOLIDATED BALANCE SHEET (in €'000 ― except where stated otherwise) (unaudited)   As at 30 Sep 31 Dec 2014 2013 Non-current assets Property, plant and equipment 850,500 698,748 Intangible assets 18,545 17,878 Deferred tax assets 30,812 34,446 Financial assets 774 774 Other non-current assets 5,781   16,536   906,412 768,382 Current assets Trade and other current assets 115,694 96,703 Cash and cash equivalents 112,755   45,690   228,449   142,393   Total assets 1,134,861   910,775     Shareholders’ equity Share capital 6,915 6,887 Share premium 492,205 485,347 Foreign currency translation reserve 10,812 6,757 Hedging reserve, net of tax (198 ) 60 Accumulated deficit (83,474 ) (111,149 ) 426,260 387,902 Non-current liabilities Trade payables and other liabilities 11,658 11,537 Deferred tax liabilities 6,750 4,147 Provision for onerous lease contracts 2,607 4,855 Borrowings 541,445   362,209   562,460 382,748 Current liabilities Trade payables and other liabilities 135,962 132,093 Income tax liabilities 4,685 2,229 Provision for onerous lease contracts 3,139 4,020 Borrowings 2,355   1,783   146,141   140,125   Total liabilities 708,601   522,873   Total liabilities and shareholders’ equity 1,134,861   910,775         INTERXION HOLDING NV NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS (in €'000 ― except where stated otherwise) (unaudited)   As at 30 Sep 31 Dec 2014 2013  

Borrowings net of cash and cash equivalents

  Cash and cash equivalents (ii) 112,755   45,690     6.00% Senior Secured Notes due 2020 (iii) 475,698 317,610 Mortgages 32,457 24,257 Financial leases 34,040 20,520 Other borrowings 1,605   1,605   Borrowings excluding Revolving Facility deferred financing costs 543,800   363,992   Revolving Facility deferred financing costs (iv) (1,066 ) (1,258 ) Total borrowings 542,734   362,734           Borrowings net of cash and cash equivalents 429,979   317,044    

(ii) Cash and cash equivalents include €4.2 million as of 30 September 2014 and €4.1 million as of 31 December 2013, 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. On 29 April 2014, the Company completed the issuance of €150.0 million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (the “Additional Notes”).

(iv) Deferred financing costs of €1.1 million as of 30 September 2014 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 2014 2013 2014 2013   Profit/(loss) for the period 8,994 (16,518 ) 27,675 (2,948 ) Depreciation, amortisation and impairments 16,025 15,211 44,870 44,138 Provision for onerous lease contracts (859 ) (825 ) (3,313 ) (2,456 ) Share-based payments 1,472 1,055 4,246 2,889 Net finance expense 6,986 38,082 19,875 51,863 Income tax expense 3,855   (4,053 ) 11,992   2,432   36,473 32,952 105,345 95,918 Movements in trade and other current assets (7,848 ) (1,105 ) (19,077 ) (9,909 ) Movements in trade and other liabilities 5,012   156   8,607   (6,314 ) Cash generated from operations 33,637 32,003 94,875 79,695 Interest and fees paid (v) (11,711 ) (10,763 ) (23,772 ) (21,934 ) Interest received 114 145 238 432 Income tax paid (1,950 ) (2,020 ) (4,151 ) (4,090 ) Net cash flows from operating activities 20,090 19,365 67,190 54,103 Cash flows from investing activities Purchase of property, plant and equipment (56,251 ) (25,959 ) (166,276 ) (85,432 ) Purchase of intangible assets (790 ) (508 ) (2,180 ) (2,603 ) Net cash flows from investing activities (57,041 ) (26,467 ) (168,456 ) (88,035 ) Cash flows from financing activities Proceeds from exercised options 1,444 1,289 2,846 4,032 Proceeds from mortgages - - 9,185 15,324 Repayment of mortgages (320 ) (167 ) (1,054 ) (167 ) Proceeds Revolving Facility - - 30,000 - Repayments Revolving Facility - - (30,000 ) - Payments for Revolving Facility - (1,159 ) - (1,159 ) Proceeds 6.00% Senior Secured Notes due 2020 (504 ) 317,814 157,878 317,814 Repayment 9.50% Senior Secured Notes due 2017 - (286,478 ) - (286,478 ) 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 8   (28 ) (15 ) (53 ) Net cash flows from financing activities (2,247 ) 31,271 168,194 49,313 Effect of exchange rate changes on cash 73   (9 ) 137   (70 ) Net movement in cash and cash equivalents (39,125 ) 24,160 67,065 15,311 Cash and cash equivalents, beginning of period 151,880   59,843   45,690   68,692   Cash and cash equivalents, end of period 112,755   84,003   112,755   84,003     (v) 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 2014 2013 2014 2013     Net profit/(loss) - as reported 9.0 (16.5 ) 27.7 (2.9 )   Add back + Refinancing charges - 31.0 0.6 31.0 + Deferred tax asset adjustment -   0.6   -   0.6   - 31.6 0.6 31.6 Reverse - Adjustments to onerous lease - - (0.8 ) - - Interest capitalised (1.3 ) (0.3 ) (3.0 ) (1.3 ) (1.3 ) (0.3 ) (3.8 ) (1.3 )   Tax effect of above add backs & reversals 0.3 (7.7 ) 0.8 (7.7 )                 Adjusted Net profit 8.0   7.1   25.4   19.7     Reported Basic EPS: (€) 0.13 (0.24 ) 0.40 (0.04 ) Reported Diluted EPS: (€) 0.13 (0.24 ) 0.40 (0.04 )   Adjusted Basic EPS: (€) 0.12 0.10 0.37 0.29 Adjusted Diluted EPS: (€) 0.11 0.10 0.36 0.29     INTERXION HOLDING NV Status of Announced Expansion Projects as at 5 November 2014 with Target Open Dates in 2014 & 2015         Equipped

CAPEX(a, b)

Space(a)

Market   Project   (€million)   (sqm)   Target Opening Dates   Amsterdam AMS 7: Phases 1 - 6 New Build 115 7,400

1Q 2014 - 2Q 2015(c)

Brussels BRU 1: Phase 5 Expansion 2 300 1Q 2014 (fully opened) Dusseldorf DUS 1: Expansion <1 100 3Q 2014 (fully opened) Frankfurt FRA 8: Phases 1 - 4 New Build 67 3,700

2Q 2014 - 1Q 2015(d)

Frankfurt FRA 9: New Build 13 800 1Q 2014 (fully opened) London LON 1: Expansion 1 200

2Q - 3Q 2014 (fully opened)(e)

Marseille MRS 1: Phases 1 - 2 20 1,000 4Q 2014 - 1Q2015(f) Stockholm STO 2: Phase 2 Expansion 6 500 1Q 2014 (fully opened) Stockholm STO 3: New Build 11 900 3Q 2014 (fully opened) Stockholm STO 4: New Build 15 1,100 2Q 2015 Vienna VIE 2: Phases 1 - 4 New Build 42 2,800

4Q 2014 - 2H 2015(g)

Zurich ZUR 1: Expansion 1 100 2Q 2014 (fully opened) Total € 293 19,100   (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; phases 4, 5, and 6 (1,300 square metres each) are scheduled for 4Q 2014, 1Q 2015, and 2Q 2015, respectively. (d) Phases 1 and 2 (900 square metres each) became operational in the second quarter of 2014; Phases 3 and 4 (900 square metres each) are scheduled for 1Q 2015. (e) 100 sqm added in each of 2Q 2014 and 3Q 2014. (f) Phases 1 and 2 (500 square metres each) are scheduled for 4Q 2014 and 1Q 2015, respectively. Marseille costs include the purchase of land buildings, and data centre equipment. (g) Phase 1 (600 square metres) are scheduled to be operational in 4Q 2014; Phases 2 and 3 will deliver 1,000 square metres scheduled to be operational in 1Q 2015 and 300 square metres scheduled to be operational in 2Q 2015, and Phase 4 (900 square metres) is scheduled to open in the second half of 2015.

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