InterXion reported revenue in the fourth quarter of 2018 of €146.9 million, a 13% increase from the fourth quarter of 2017 and a 3% increase from the third quarter of 2018. Recurring revenue was €139.7 million, a 13% increase from the fourth quarter of 2017 and a 4% increase from the third quarter of 2018. Recurring revenue in the fourth quarter represented 95% of total revenue. On an organic constant currency basis, revenue in the fourth quarter of 2018 was 13% higher than in the fourth quarter of 2017 and 3% higher than in the third quarter of 2018.
Gross profit was €89.7 million in the fourth quarter of 2018, an 11% increase from the fourth quarter of 2017 and a 4% increase from the third quarter of 2018. Gross profit margin was 61.1% in the fourth quarter of 2018, compared to 62.4% in the fourth quarter of 2017 and 60.7% in the third quarter of 2018.
Operating Highlights
- Equipped space4 increased by 4,500 square meters in the fourth quarter and 22,300 square meters in the full year to 144,800 square meters.
- Revenue generating space4 increased by 3,800 square meters in the fourth quarter and 15,200 square meters in the full year to 115,000 square meters.
- Utilization rate was 79% at the end of 2018.
- During the fourth quarter of 2018, Interxion completed the following expansions:
- 2,700 sqm expansion in Amsterdam;
- 1,500 sqm expansion in Paris; and,
- 300 sqm expansion in Frankfurt.
"Our highly-connected data centres continue to attract strong demand from all customer segments, resulting in solid booking trends across our European footprint," said David Ruberg, Interxion’s Chief Executive Officer. "The underlying drivers of this growth are secular in nature, reflecting the widespread adoption of digital technologies by consumers and enterprises alike. The cloud and content platforms continue to lead the way, which in turn, require larger infrastructure capacities for core and edge deployments. We are still in the early stages of this transformation and believe there is a substantial opportunity ahead of us."
