Fresh off its IPO over the winter, European colocation specialist InterXion (NYSE:INXN, news) posted its first quarter results along with a variety of expansion projects. In Stockholm, they will be adding an additional 1.5MW of power, which will allow them to expand their current footprint by 25%. Apparently they are also using seawater cooling there to enhance efficiency. In Vienna, they will be adding 1,300 square meters, while in Dublin the order of the day will be another 1MW and a 25% footprint expansion.
As to the numbers, revenue of €57.9M was up 4.2% sequentially and 21% over the same period last year, while adjusted EBITDA of €22.2M also grew sequentially from the fourth quarter. EBITDA margins fell slightly sequentially to 38.4% due to those evil costs associated with being a public company, and earnings per share checked in at €0.05. All of that appears to be inline with expectations or perhaps slightly above. The company maintained its full year 2011 guidance.
Capex for the quarter was €19.1, a number that will be followed by some hefty spending during the year given full year guidance of €140-160M. Some of that will go into those expansion projects they mentioned, but I’m sure there are more projects in the works.
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