Interxion Plans Debt Offering
European data center service provider Interxion today reported revenue of €54.6 million for the third quarter of 2010, a 25 percent increase compared to last year’s performance (€43.7 million). Recurring revenue was 91 percent of total revenue in the period.
Net profit for the third quarter was €5.9 million, a strong increase from last year’s €1.3 million. Cash and cash equivalent were €30.6 million at the end of the quarter, a decrease from last year, as the company invested €23.9 million in expansion Capex in the quarter. Adjusted EBITDA increased by 30 percent to € 20.8 Million, showing a healthy improvement to a 38.1 percent margin on revenue.
Interxion also announced an offering of €50,000,000 ($71.2 million US) Senior Secured Notes, through a re-opening of its 9.5% Senior Secured Notes due 2017 issued on February 15, 2010. A recent price on the notes already issued was 108.5.
Interxion filed plans for an initial public offering with the U.S. Securities and Exchange Commission, on a confidential basis, on May 4, as DCK previously reported.
You can check Interxion’s numbers in our embedded spreadsheet, that can also be downloaded at this link.