InterXion Holding N.V.NYSE
InterXion Is Making Its Move - How Much Farther Can It Go?
Alpha Gen Capital
Alpha Gen Capital
InterXion: Deal With Telecity Will Create New Powerhouse
Alpha Gen Capital
Alpha Gen Capital
Wed, Nov. 2, 11:00 AM
- InterXion (NYSE:INXN) is up 1.9% after posting Q3 results where it missed revenue expectations but reaffirmed full-year guidance.
- Revenue grew by 7%, and recurring revenue was up 8%, while adjusted profits inched down to €8.6M. EBITDA of €48.3M was up 11% and beat an expected €47.8M.
- During the quarter, the company increased equipped space by 3,600 square meters, to 107,800 square meters, and increased revenue-generating space by 2,500 square meters, to 84,100 square meters. Utilization rate was 78%.
- Revenue mix: Recurring revenue, €99.987M; Non-recurring revenue, €5.29M.
- The company reiterated full-year guidance for revenue of €416M-€431M (vs. consensus for €420.2M), EBITDA of €185M-€195M (vs. consensus for €192.6M), and capex of €260M-€280M.
- Earnings slides
- Press Release
Wed, Nov. 2, 7:05 AM
Tue, Nov. 1, 5:30 PM
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Fri, Oct. 28, 1:40 PM
- CenturyLink (CTL -1.4%) is giving back some of yesterday's merger-chatter gains, but Level 3 Communications (NASDAQ:LVLT) is adding on, up another 3.9% today.
- Level 3 jumped 10.6% yesterday, and CenturyLink rose 10%, on a report that the two were in advanced talks to merge.
- Level 3's at $53.90 today (after closing at $46.92 on Wednesday), and it's looking for at least $60/share in a buyout and $65 "could be reasonable," says Raymond James, which cut CenturyLink to Market Perform from Outperform -- thinking that stock could trade sideways for the months it could take to close such a deal.
- UBS sees the deal cresting $1B in synergies, given the companies' overlapping infrastructure. Analyst Batya Levi is assuming an all-stock deal at 9-11 times EBITDA and has CenturyLink at a Buy with a $36 price target (implying 18% upside).
- Oppenheimer's Timothy Horan, meanwhile, sees more of a 50/50 cash/stock split at a $60 valuation for LVLT. He's got CTL at Market Perform but boosts LVLT to Outperform at that $60 target.
- Among peers (and other potential targets) today: CCOI -1.2%, INXN +2%, GTT flat, ZAYO +1.9%, AKAM +0.9%, FTR -2.4%.
Mon, Sep. 26, 5:25 PM
- InterXion (NYSE:INXN) is responding to demand with expansions in three European cities.
- The company's building its 11th data center in Frankfurt as well as expanding facilities in Paris and Marseille.
- It's accordingly bumping up its guidance on 2016 capex, to €260M-€280M. Last month it had guided for full-year capex of €200M-€220M.
- The Frankfurt center, FRA11, will offer 4,800 square meters of equipped space with 10 MW of customer-available power once it's fully built (about 1,200 square meters in each of four build phases). The first two phases are expected to open in Q4 2017; the final two in Q2 2018.
Wed, Aug. 3, 3:51 PM
- InterXion (NYSE:INXN) is off 2.5% this afternoon after its Q2 earnings report fell short of consensus on top and bottom lines.
- Adjusted net profit grew 8% to €9M, and EBITDA was up 13% to €47.3M (beating an expected $46.8M).
- Capex was €62.6M, vs. a year-ago €47.8M.
- It also announced it's expanding its CPH2 data center in Copenhagen with an additional 600 square meters, adding over 1 MW of customer available power. That space was has been completely pre-sold and is set to open in Q1 2017.
- The company reiterated full-year guidance for revenue of €416M-€431M and EBITDA of €185M-€195M (both in line with expectations), and capex of €200M-€220M.
- Press Release
Wed, Aug. 3, 7:07 AM
Tue, Aug. 2, 5:30 PM
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Wed, May 4, 7:11 AM
- InterXion Holding (NYSE:INXN): Q1 EPS of €0.14 misses by €0.02.
- Revenue of €102M (+10.3% Y/Y) beats by €0.22M.
Tue, May 3, 5:30 PM
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Fri, Apr. 29, 1:34 PM
- Equinix (EQIX +0.6%) is set to finish the sale of several European data centers, a condition required in its $3.6B acquisition of TelecityGroup.
- The sale is set to wrap up next month, sources told CTFN, saying that the (flexible) deadline was set by the European Commission.
- The EC had given a conditional OK to the deal in November, requiring that Equinix divested a number of Telecity's data centers. At the time, Equinix said the assets involved contributed only about 4% of combined revenues.
- While the deal itself -- five data centers in London, two in Amsterdam, and two in Frankfurt -- should only generate hundreds of millions for Equinix, a sale of that size should help set the current market for data centers in what is becoming a rapidly turning market.
- InterXion (INXN -0.8%) -- set for its own merger with Telecity before Equinix came along -- is considered a potential buyer of the facilities.
- Now read Data Center REIT Equinix Hits All-Time Highs - What Investors Need To Know »
Mon, Apr. 4, 1:31 PM
- Shares in InterXion (INXN -1.2%) took a midday dip amid reports that talks with Digital Realty Trust (DLR -0.7%), said to be considering a buyout, have stalled out over price.
- Management is less eager to sell since Baker Capital distributed its shares, a source told CTFN. When Baker controlled InterXion, it had come to a sale agreement with Telecity Group, though that deal didn't come to fruition after Equinix swooped in to buy Telecity and create a European data-center giant.
- So consolidation pressures are still out there. InterXion is going to find a buyer "at some point," one source says, but managers are focused on building solid business for now.
- Now read InterXion Is Making Its Move - How Much Farther Can It Go? »
Wed, Mar. 2, 1:19 PM
- InterXion (NYSE:INXN) is up 0.9% in choppy trading along with the market today, following a beat on top and bottom lines in its Q4 earnings report.
- The company also announced it was expanding its data-center facilities in four cities (Marseille, Paris, Vienna, and Dusseldorf) with a buildout to add 3,900 square meters total of equipped space, with about 5 MW of customer power.
- Q4 revenues grew 12%, and net profit was up 64% to €12.1M.
- Revenue breakout: Recurring revenues, $95.1M (up 13.6%); nonrecurring revenues, $5.6M (down 10.1%).
- Equipped space was up by 1,000 square meters in Q4; revenue-generating space rose by 1,100 square meters. Utilization rate at year's end was 78%.
- It's guiding to full-year revenue of €416M-€431M and adjusted EBITDA of €185M-€195M, both in line with expectations, and to capex (considering the four data center expansions) of €200M-€220M.
Wed, Mar. 2, 7:05 AM
- InterXion Holding (NYSE:INXN): Q4 EPS of €0.17 beats by €0.02.
- Revenue of €100.65M (+11.9% Y/Y) beats by €1.02M.
Tue, Mar. 1, 5:30 PM
Thu, Jan. 28, 3:12 PM
- InterXion (NYSE:INXN) has jumped 3.4% in the last few minutes on chatter from Dealreporter about Digital Realty Trust (DLR +3.2%) considering an offer.
- The European data-center player was set to be acquired for $2.2B by Telecity (OTCPK:TLEIY) last spring, before Equinix's own deal for Telecity blew up that deal.
- In November, InterXion expanded its data-center phases in four northern European cities.
- Previously: InterXion expanding data centers in four northern Europe cities (Nov. 03 2015)
- Previously: In merger's wake, InterXion confirms end to its Telecity agreement (May. 29 2015)
- Previously: Telecity's InterXion buy in doubt amid Equinix's $3.5B deal talk (May. 07 2015)