INXN InterXion Holding NV

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 and year ended 31 December 2015.

“Our 2015 performance demonstrates the continued strength of our business model and the value that our customers receive from being colocated in our connectivity-rich and cloud-rich data centres across our European footprint. Our 2015 results include 14% recurring revenue growth, 17% adjusted EBITDA growth, attractive margin gains, and high utilization, all of which lead to increased value for our shareholders.” said David Ruberg, Interxion’s Chief Executive Officer. “Our Communities of Interest market strategy helped drive our growth in 2015 and positions us well for growth in the future as the IT industry is in the early stages of investing in the shift from legacy IT implementations to the cloud.”

Financial Highlights

• Revenue for the fourth quarter and full year (FY) increased by 12% and 13% to €100.7 million and €386.6 million, respectively (4Q 2014: €89.9 million; FY 2014: €340.6 million)
• Adjusted EBITDA1 for the fourth quarter and full year increased by 16% and 17% to €44.9 million and €171.3 million, respectively (4Q 2014: €38.7 million; FY 2014: €146.4 million)
• Adjusted EBITDA margin for the fourth quarter and full year increased by 160 bps and 130 bps to 44.6% and 44.3%, respectively (4Q 2014: 43.0%; FY 2014: 43.0%)
• Net profit for the fourth quarter and full year increased by 64% and 39% to €12.1 million and €48.6 million, respectively (4Q 2014: €7.4 million; FY 2014: €35.1 million)
• Earnings per diluted share for the fourth quarter and full year increased by 55% and 38% to €0.17 and €0.69, respectively (4Q 2014: €0.11; FY 2014: €0.50)
• Adjusted net profit2 for the fourth quarter and full year increased by 69% and 17% to €12.1 million and €37.9 million, respectively (4Q 2014: €7.2 million; FY 2014: €32.5 million)
• Adjusted earnings per diluted share2 for the fourth quarter and full year increased by 70% and 17% to €0.17 and €0.54, respectively (4Q 2014: €0.10; FY 2014: €0.46)
• Capital Expenditures, including intangible assets3, were €42.0 million in the fourth quarter and €192.6 million for full year 2015

Operating Highlights

• Equipped Space increased by 1,000 square metres in the fourth quarter and 7,700 square metres for the full year to 101,200 square metres
• Revenue Generating Space increased by 1,100 square metres in the fourth quarter and 8,100 square metres for the full year to 79,100 square metres
• Utilisation Rate was 78% at the end of the year
• During the fourth quarter, Interxion opened the first phase of its DUS2 data centre in Dusseldorf and completed an expansion of its VIE2 data centre in Vienna
• During the first quarter of 2016, Interxion opened the first phase of its FRA10 data centre in Frankfurt.

Quarterly Review

Revenue for the fourth quarter of 2015 was €100.7 million, a 12% increase over the fourth quarter of 2014 and a 3% increase over the third quarter of 2015. Recurring revenue was €95.1 million, a 14% increase over the fourth quarter of 2014 and a 3% increase over the third quarter of 2015. Recurring revenue in the quarter was 94% of total revenue.

Cost of sales in the fourth quarter of 2015 was €39.2 million, a 6% increase over the fourth quarter of 2014 and a 2% increase over the third quarter of 2015.

Gross profit was €61.4 million in the fourth quarter of 2015, a 16% increase over the fourth quarter of 2014 and a 3% increase over the third quarter of 2015.

Sales and marketing costs in the fourth quarter of 2015 were €7.4 million, a 13% increase compared to the fourth quarter of 2014 and a 6% increase over the third quarter of 2015. Other general and administrative costs4 were €9.2 million, a 19% increase compared to the fourth quarter of 2014 and a 4% increase compared to the third quarter of 2015.

Adjusted EBITDA for the fourth quarter of 2015 was €44.9 million, a 16% increase compared to the fourth quarter of 2014 and a 3% increase compared to the third quarter of 2015. Adjusted EBITDA margin was 44.6% in the fourth quarter of 2015 compared to 43.0% in the fourth quarter of 2014 and 44.6% in the third quarter of 2015.

Depreciation, amortisation, and impairments in the fourth quarter of 2015 was €20.2 million, an increase of 17% compared to the fourth quarter of 2014 and a slight decrease compared to the third quarter of 2015.

Operating profit during the fourth quarter of 2015 was €22.8 million, a 21% increase compared to the fourth quarter of 2014 and a 6% increase compared to the third quarter of 2015.

Net finance expense for the fourth quarter of 2015 was €8.1 million, a 1% increase compared to the fourth quarter of 2014, and a 26% increase compared to the third quarter of 2015, during which Interxion reported a €2.3 million gain as part of its net finance expense following the sale of a financial asset.

Income tax expense for the fourth quarter of 2015 was €2.6 million, a 26% decrease compared to the fourth quarter of 2014, and a 46% decrease compared to the third quarter of 2015.

Net profit was €12.1 million in the fourth quarter of 2015, a 64% increase compared to the fourth quarter of 2014 and a 17% increase compared to the third quarter of 2015.

Adjusted net profit was €12.1 million in the fourth quarter of 2015, a 69% increase compared to the fourth quarter of 2014 and a 39% increase compared to the third quarter of 2015.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €38.1 million in the fourth quarter of 2015, a 6% decrease compared to the fourth quarter of 2014, and an 11% decrease compared to the third quarter of 2015.

Capital expenditures, including intangible assets, were €42.0 million in the fourth quarter 2015 compared to €47.8 million in the fourth quarter of 2014 and €35.3 million in the third quarter of 2015.

Cash and cash equivalents were €58.6 million at 31 December 2015, compared to €99.9 million at year end 2014. Total borrowings, net of deferred revolving facility financing fees, were €555.1 million at year end 2015 compared to €560.6 million at year end 2014. As of 31 December 2015, the company’s revolving credit facility was undrawn.

Equipped space at year end 2015 was 101,200 square metres compared to 93,500 square metres at year end 2014 and 100,200 square metres at the end of the third quarter 2015. Revenue generating space at year end 2015 was 79,100 square metres compared to 71,000 square metres at year end 2014 and 78,000 square metres at the end of the third quarter 2015. Utilisation rate, the ratio of revenue-generating space to equipped space, was 78% at year end 2015 compared to 76% at year end 2014 and 78% at the end of the third quarter 2015.

Annual Review

Revenue for 2015 was €386.6 million, a 13% increase compared to 2014. Recurring revenue for 2015 was €365.2 million, a 14% increase compared to 2014, and accounted for 94% of total revenue in both 2015 and 2014.

Gross profit was €234.9 million in 2015, a 17% increase compared to 2014.

Sales and marketing costs for 2015 were €28.2 million, a 15% increase compared to 2014.

Adjusted EBITDA for 2015 was €171.3 million, a 17% increase compared to 2014. Adjusted EBITDA margin for 2015 was 44.3%, an increase of 130 bps compared to 2014.

Net profit was €48.6 million in 2015, an increase of 39% compared to 2014. Diluted earnings per share in 2015 were €0.69 on a weighted average of 70.5 million diluted shares, a 38% increase compared to €0.50 on a weighted average of 69.9 million diluted shares in 2014. Net profit and earnings per share in 2015 were impacted by €11.8 million of M&A transaction costs, €20.9 million of M&A transaction break fee income, and a €2.3 million gain on the sale of a financial asset. Net profit and earnings per share in 2014 were impacted by €0.3 million of M&A transaction costs and €0.6 million of refinancing costs.

Adjusted net profit was €37.9 million in 2015, a 17% increase compared to 2014. Adjusted earnings per diluted share were €0.54 on a weighted average of 70.5 million diluted shares, a 17% increase compared to €0.46 on a weighted average of 69.9 million diluted shares in 2014.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was €169.4 million in 2015, an increase of 25% compared to 2014.

Capital expenditures, including intangible assets, were €192.6 million in 2015 compared to €216.3 million in 2014.

During 2015, Interxion opened 7,700 square metres of new Equipped Space capacity, and installed a net 8,100 Revenue Generating Square Metres, increasing utilisation to 78% from 76%.

Business Outlook

The company today is providing guidance for full year 2016:

    Revenue €416 million – €431 million Adjusted EBITDA €185 million – €195 million Capital Expenditures (including intangibles) €200 million – €220 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 Interxion’s 4Q and 2015 year end 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 8 March 2016. 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 25907881.

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

We define EBITDA as operating profit plus depreciation, amortization 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 our €100 million revolving credit facility and €475 million 6.00% Senior Secured Notes due 2020.

A reconciliation from Net profit to EBITDA and from EBITDA to Adjusted EBITDA is provided in the notes to our consolidated income statement included elsewhere in this press release.

Adjusted earnings per diluted share amounts are determined on Adjusted net profit. 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. 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, M&A transaction costs, increase/(decrease) in provision for onerous lease contracts, M&A transaction break fee income, 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 carrier and cloud-neutral colocation data centre services in Europe, serving a wide range of customers through 41 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 600 connectivity providers, 21 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 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.

2 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. Adjusted earnings per diluted share amounts are determined on Adjusted net profit.

3 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.

4 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.

  INTERXION HOLDING NV CONSOLIDATED INCOME STATEMENT (in €'000 ― except per share data and where stated otherwise) (unaudited)         Three Months Ended Year Ended 31 Dec 31 Dec 31 Dec 31 Dec 2015 2014 2015 2014   Revenue 100,653 89,922 386,560 340,624 Cost of sales (39,204) (36,968) (151,613) (139,075) Gross profit 61,449 52,954 234,947 201,549 Other income 86 104 21,288 271 Sales and marketing costs (7,385) (6,530) (28,217) (24,551) General and administrative costs (31,370) (27,685) (132,505) (98,884)         Operating profit 22,780 18,843 95,513 78,385 Net finance expense (8,084) (8,001) (29,022) (27,876)         Profit before taxation 14,696 10,842 66,491 50,509 Income tax expense (2,557) (3,457) (17,925) (15,449) Net profit 12,139 7,385 48,566 35,060   Basic earnings per share: (€) 0.17 0.11 0.70 0.51 Diluted earnings per share: (€) 0.17 0.11 0.69 0.50     Number of shares outstanding at the end of the period (shares in thousands) 69,919 69,317 69,919 69,317 Weighted average number of shares for Basic EPS (shares in thousands) 69,736 69,235 69,579 69,048 Weighted average number of shares for Diluted EPS (shares in thousands) 70,675 70,132 70,499 69,922     As at 31 Dec 31 Dec Capacity metrics 2015 2014 Equipped space (in square meters) 101,200 93,500 Revenue generating space (in square meters) 79,100 71,000 Utilisation rate 78% 76%           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 2015 2014 2015 2014 Consolidated   Recurring revenue 95,074 83,718 365,175 319,184 Non-recurring revenue 5,579   6,204   21,385   21,440   Revenue 100,653   89,922   386,560   340,624   Adjusted EBITDA 44,910   38,701   171,276   146,387   Gross profit margin 61.1 % 58.9 % 60.8 % 59.2 % Adjusted EBITDA margin 44.6 % 43.0 % 44.3 % 43.0 %   Total assets 1,252,064 1,173,103 1,252,064 1,173,103 Total liabilities 744,647 736,958 744,647 736,958 Capital expenditure, including intangible assets (a) (41,961 ) (47,821 ) (192,636 ) (216,277 )   France, Germany, the Netherlands, and the UK   Recurring revenue 60,859 52,674 232,624 200,603 Non-recurring revenue 3,910   3,704   14,290   13,608   Revenue 64,769   56,378   246,914   214,211   Adjusted EBITDA 34,803   29,001   134,328   113,409   Gross profit margin 62.0 % 60.1 % 62.2 % 60.9 % Adjusted EBITDA margin 53.7 % 51.4 % 54.4 % 52.9 %   Total assets 878,568 804,537 878,568 804,537 Total liabilities 196,996 166,250 196,996 166,250 Capital expenditure, including intangible assets (a) (34,877 ) (33,729 ) (131,812 ) (150,224 )   Rest of Europe   Recurring revenue 34,215 31,044 132,551 118,581 Non-recurring revenue 1,669   2,500   7,095   7,832   Revenue 35,884   33,544   139,646   126,413   Adjusted EBITDA 20,764   18,075   78,868   67,273   Gross profit margin 65.9 % 62.3 % 64.6 % 62.1 % Adjusted EBITDA margin 57.9 % 53.9 % 56.5 % 53.2 %   Total assets 309,218 290,455 309,218 290,455 Total liabilities 54,396 73,448 54,396 73,448 Capital expenditure, including intangible assets (a) (5,568 ) (12,788 ) (55,004 ) (60,436 )   Corporate and other         Adjusted EBITDA (10,657 ) (8,375 ) (41,920 ) (34,295 )   Total assets 64,278 78,111 64,278 78,111 Total liabilities 493,255 497,260 493,255 497,260 Capital expenditure, including intangible assets (a) (1,516 ) (1,304 ) (5,820 ) (5,617 )    

(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 Year Ended 31 Dec 31 Dec 31 Dec 31 Dec 2015 2014 2015 2014    

Reconciliation to Adjusted EBITDA

 

Consolidated

  Net profit 12,139 7,385 48,566 35,060 Income tax expense 2,557   3,457   17,925   15,449   Profit before taxation 14,696 10,842 66,491 50,509 Net finance expense 8,084   8,001   29,022   27,876   Operating profit 22,780 18,843 95,513 78,385 Depreciation, amortisation and impairments 20,186   17,307   78,229   62,177   EBITDA 42,966 36,150 173,742 140,562 Share-based payments 1,467 2,330 7,161 6,576 Increase/(decrease) in provision for onerous lease contracts - - (184 ) (805 ) M&A transaction break fee income (a) - - (20,923 ) - M&A transaction costs (b) 563 325 11,845 325 Income from sub-leases on unused data centre sites (86 ) (104 ) (365 ) (271 ) Adjusted EBITDA 44,910   38,701   171,276   146,387    

France, Germany, the Netherlands, and the UK

  Operating profit 21,699 17,586 83,215 73,038 Depreciation, amortisation and impairments 12,990   11,161   50,317   40,129   EBITDA 34,689 28,747 133,532 113,167 Share-based payments 200 358 1,345 1,318 Increase/(decrease) in provision for onerous lease contracts - - (184 ) (805 ) Income from sub-leases on unused data centre sites (86 ) (104 ) (365 ) (271 ) Adjusted EBITDA 34,803   29,001   134,328   113,409    

Rest of Europe

  Operating profit 14,357 12,641 54,374 47,799 Depreciation, amortisation and impairments 6,213   5,128   23,688   18,514   EBITDA 20,570 17,769 78,062 66,313 Share-based payments 194   306   806   960   Adjusted EBITDA 20,764   18,075   78,868   67,273    

Corporate and Other

  Operating profit/(loss) (13,276 ) (11,384 ) (42,076 ) (42,452 ) Depreciation, amortisation and impairments 983   1,018   4,224   3,534   EBITDA (12,293 ) (10,366 ) (37,852 ) (38,918 ) Share-based payments 1,073 1,666 5,010 4,298 M&A transaction break fee income (a) - 325 (20,923 ) - M&A transaction costs (b) 563   -   11,845   325   Adjusted EBITDA (10,657 ) (8,375 ) (41,920 ) (34,295 )    

(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 within “Other income” in the consolidated income statement.

(b) M&A transaction costs are costs associated with the evaluation, diligence and conclusion or termination of merger or acquisition activity. In the year ended 31 December 2015, M&A transaction costs included €10.7 million related to the abandoned merger with TelecityGroup, and €1.1 million related to other activity including the evaluation of potential asset acquisitions.

    INTERXION HOLDING NV CONSOLIDATED BALANCE SHEET (in €'000 ― except where stated otherwise) (unaudited)     As at 31 Dec 31 Dec 2015 2014 Non-current assets Property, plant and equipment 999,072 895,184 Intangible assets 23,194 18,996 Deferred tax assets 23,024 30,064 Financial assets - 774 Other non-current assets 6,686   5,750   1,051,976 950,768 Current assets Trade receivables and other current assets 141,534 120,762 Short term investments - 1,650 Cash and cash equivalents 58,554   99,923   200,088   222,335   Total assets 1,252,064   1,173,103     Shareholders’ equity Share capital 6,992 6,932 Share premium 507,296 495,109 Foreign currency translation reserve 20,865 10,440 Hedging reserve, net of tax (213 ) (247 ) Accumulated deficit (27,523 ) (76,089 ) 507,417 436,145 Non-current liabilities Trade payables and other liabilities 12,049 12,211 Deferred tax liabilities 9,951 7,029 Provision for onerous lease contracts - 1,491 Borrowings 550,812   540,530   572,812 561,261 Current liabilities Trade payables and other liabilities 162,629 146,502 Income tax liabilities 2,738 4,690 Provision for onerous lease contracts 1,517 3,443 Borrowings 4,951   21,062   171,835   175,697   Total liabilities 744,647   736,958   Total liabilities and shareholders’ equity 1,252,064   1,173,103                 INTERXION HOLDING NV NOTES TO THE CONSOLIDATED BALANCE SHEET: BORROWINGS (in €'000 ― except where stated otherwise) (unaudited)   As at 31 Dec 31 Dec 2015 2014     Borrowings net of cash and cash equivalents   Cash and cash equivalents (a) 58,554   99,923    

6.00% Senior Secured Notes due 2020(b)

475,503 475,643 Mortgages 44,073 31,487 Financial leases 34,582 52,857 Other borrowings 1,605   1,605   Borrowings excluding Revolving Facility deferred financing costs 555,763   561,592  

Revolving Facility deferred financing costs(c)

(710 ) (995 ) Total borrowings 555,053   560,597       Borrowings net of cash and cash equivalents 496,499   460,674      

(a) Cash and cash equivalents include €4.9 million as of 31 December 2015 and €5.2 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 €0.7 million as of 31 December 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 Year Ended 31 Dec 31 Dec 31 Dec 31 Dec 2015 2014 2015 2014     Net profit 12,139 7,385 48,566 35,060 Depreciation, amortisation and impairments 20,186 17,307 78,229 62,177 Provision for onerous lease contracts (879 ) (859 ) (3,532 ) (4,172 ) Share-based payments 824 2,330 6,518 6,576 Net finance expense 8,084 8,001 29,022 27,876 Income tax expense 2,557   3,457   17,925   15,449   42,911 37,621 176,728 142,966 Movements in trade receivables and other current assets (9,799 ) (4,949 ) (19,380 ) (24,026 ) Movements in trade payables and other liabilities 4,973   7,871   12,040   16,478   Cash generated from operations 38,085 40,543 169,388 135,418 Interest and fees paid (a) (1,393 ) (1,394 ) (30,522 ) (25,166 ) Interest received 35 233 152 471 Income tax paid (2,781 ) (2,154 ) (11,948 ) (6,305 ) Net cash flows from / (used in) operating activities 33,946 37,228 127,070 104,418 Cash flows from investing activities Purchase of property, plant and equipment (40,487 ) (46,662 ) (186,115 ) (212,938 ) Purchase of intangible assets (1,474 ) (1,159 ) (6,521 ) (3,339 ) Proceeds from sale of financial asset - - 3,063 - Acquisition financial fixed assets - (1,650 ) - (1,650 ) Redemption of short-term investments -     1,650   -   Net cash flows from / (used in) investing activities (41,961 ) (49,471 ) (187,923 ) (217,927 ) Cash flows from financing activities Proceeds from exercised options 3,266 478 5,686 3,324 Proceeds from mortgages 14,850 - 14,850 9,185 Repayment of mortgages (986 ) (987 ) (2,346 ) (2,041 ) Proceeds revolving facility - - - 30,000 Repayments revolving facility - - - (30,000 ) Proceeds 6.00% Senior Secured Notes due 2020 - - - 157,878 Interest received at issue of Additional Notes - - - 2,600 Interest paid related to interest received at issue of Additional Notes - - - (2,600 ) Transaction costs related to Senior Secured Facility - - - (646 ) Repayment of other borrowings 31   (57 ) -   (72 ) Net cash flows from / (used in) financing activities 17,161 (566 ) 18,190 167,628 Effect of exchange rate changes on cash (622 ) (23 ) 1,294   114   Net increase / (decrease) in cash and cash equivalents 8,524 (12,832 ) (41,369 ) 54,233 Cash and cash equivalents, beginning of period 50,030   112,755   99,923   45,690   Cash and cash equivalents, end of period 58,554   99,923   58,554   99,923     (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 € '000 ― except per share data and where stated otherwise) (unaudited)     Three Months Ended Year Ended 31 Dec 31 Dec 31 Dec 31 Dec 2015 2014 2015 2014 (€ in '000 - except per share data)   Net profit - as reported 12,139 7,385 48,566 35,060   Add back + Refinancing charges - - - 616 + M&A transaction costs 563   325   11,845   325   563 325 11,845 941 Reverse - M&A transaction break fee income - - (20,923 ) - - Profit on sale of financial asset - - (2,289 ) - - Increase / (decrease) in provision for onerous lease contracts - - (184 ) (805 ) - Interest capitalised (615 ) (649 ) (2,638 ) (3,604 ) (615 ) (649 ) (26,034 ) (4,409 )   Tax effect of above add backs & reversals 13 91 3,547 867         Adjusted net profit 12,100   7,152   37,924   32,459     Reported basic EPS: (€) 0.17 0.11 0.70 0.51 Reported diluted EPS: (€) 0.17 0.11 0.69 0.50   Adjusted basic EPS: (€) 0.17 0.10 0.55 0.47 Adjusted diluted EPS: (€) 0.17 0.10 0.54 0.46         INTERXION HOLDING NV Status of Announced Expansion Projects as at 2 March 2016 with Target Open Dates after 1 January 2015    

CAPEX(a)(b)

Equipped 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 - 2 New Build 16 1,200 4Q 2015 - 2Q 2016 (c) Frankfurt FRA 10: Phases 1 - 4 New Build 92 4,800 1Q 2016 - 4Q 2016 (d) Madrid MAD 2: Phase 2 Expansion 4 800 fully opened Marseille MRS 1: Phases 1 - 2 30 2,200 4Q 2014 - 3Q 2016 (e) Paris PAR7: Phase 2 14 1,100 2Q 2017 Stockholm STO 4: New Build 15 1,100 fully opened Vienna VIE 2: New Build 65 4,200 4Q 2014 - 3Q 2017 (f) Total € 436 27,700     (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 (600 square metres) became operational in 4Q 2015. Phase 2 (600 square metres) is scheduled to become operational in 2Q 2016. (d) 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. (e) Phase 1 (600 square metres) became operational in 4Q 2014. The first 900 square metres of Phase 2 became available in 3Q 2015, and the final 800 square metres of Phase 2 is scheduled to become operational in 3Q 2016. (f) 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 became operational. In 4Q 2016, 300 sqm is scheduled to become operational; another 1,100 square metres is scheduled to become operational between 2Q 2017 and 3Q 2017.  

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InterxionJim Huseby, +1-813-644-9399Investor RelationsIR@interxion.com