Digital Realty Enters Korea, Expands in Frankfurt

July 31st, 2019 by · Leave a Comment

Along with its earnings announcement yesterday, Digital Realty revealed a couple of very interesting international expansion projects.

In the European infrastructure hub of Frankfurt, Digital Realty has acquired 34 acres of land in Hattersheim just three miles from the city’s airport. Upon that land they intend to build a new data center campus, their third location in the metro area. Plans call for some 84MW of IT capacity at full buildout.

Meanwhile, the company will move into some new territory in the APAC region: the Korean peninsula. Digital Realty has agreed to acquire land in Seoul, South Korea, more specifically within the Sangam Digital Media City area in Seoul’s northwest. It’s a 22,000 square foot parcel of land, upon which they plan a 10-story, 129,000-square-foot, 12MW facility by 2021.

Along with those projects, Digital Realty posted revenues of $801M, up 6% from the same quarter last year. EBITDA checked in at $468M, earnings per diluted share of $0.15, and FFO of $1.64 per share.   The markets responded positively to those numbers, with the stock rising 2.5% yesterday.

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Categories: Datacenter · Financials

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