Form 6-K InterXion Holding N.V. For: Nov 05

November 5, 2014 7:15 AM EST

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM�6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE�13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Report on Form�6-K dated 5�November 2014

(Commission File No.�001-35053)

INTERXION HOLDING N.V.

(Translation of Registrant�s Name into English)

Tupolevlaan 24, 1119 NX Schiphol-Rijk, The Netherlands, +31 20 880 7600

(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form�20-F or Form�40-F.

Form�20-F��x������������Form�40-F��

Indicate by check mark if the registrant is submitting the Form�6-K in paper as permitted by Regulation S-T Rule�101(b)(1):��

Note:�Regulation S-T Rule�101(b)(1)�only permits the submission in paper of a Form�6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form�6-K in paper as permitted by Regulation S-T Rule�101(b)(7)�):��

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant�s �home country�), or under the rules of the home country exchange on which the registrant�s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant�s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.


This report contains Interxion Holding N.V.�s Interim report as at and for the three-month and nine-month periods ended 30�September 2014.

The interim report was prepared in accordance with the indenture (the �Indenture�) dated as of 3�July 2013 among Interxion Holding N.V., as Issuer, the guarantors named therein, The Bank of New York Mellon, London Branch, as Trustee, principal paying agent and transfer agent, The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg paying agent and registrar, and Barclays Bank PLC, as Security Trustee.

This Report on Form 6-K is incorporated by reference into the Registration Statement on Form S-8 of the Registrant originally filed with the Securities and Exchange Commission on 23�June 2011 (File No.�333-175099) and into the Registration Statement on Form S-8 of the Registrant originally filed with the Securities and Exchange Commission on 2�June 2014 (File No.�333-196447).

Exhibit

��
99.1 �� The Interxion Holding N.V. Interim report as at and for the three-month and nine-month periods ended 30 September 2014.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

INTERXION HOLDING N.V.
By:�

/s/ David C. Ruberg

Name: David C. Ruberg
Title: Chief Executive Officer

Date: 5�November 2014

Exhibit 99.1

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Interxion Holding NV

Interim report

as at and for the three-month and the nine-month periods

ended

30�September 2014

Schiphol-Rijk, 5 November 2014


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Third Quarter Highlights

Financial Highlights

Revenue increased by 11% to �86.4�million (Q3 2013: �78.1 million).

Adjusted EBITDA increased by 11% to �37.3�million (Q3 2013: �33.7 million).

Adjusted EBITDA margin was 43.1% (Q3 2013: 43.1%).

Net profit increased to �9.0�million (Q3 2013: �16.5�million loss).

Capital expenditure, including intangible assets, was �57.0 million.

Operating Highlights

Revenue Generating Space increased by 4,200 square metres to 68,500 square metres.

Equipped Space increased by 2,600 square metres to 88,600 square metres.

Utilisation Rate at the end of the quarter was 77%.

Expansion in Amsterdam and a new data centre opened in Stockholm.

Completed the purchase of the SFR data centre in Marseille, France, as previously announced.

Quarterly Review

Revenue in the third quarter of 2014 was �86.4�million, an 11% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014. Recurring revenue was �80.9�million, a 10% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014.

Cost of sales in the third quarter of 2014 was �35.5�million, a 12% increase over the third quarter of 2013 and a 5% increase over the second quarter of 2014.

Gross profit was �50.9�million in the third quarter of 2014, a 10% increase over the third quarter of 2013 and a 3% increase over the second quarter of 2014. Gross profit margin in the third quarter of 2014 was 58.9%, compared with 59.2% in the third quarter of 2013 and 59.4% in the second quarter of 2014.

Sales and marketing costs in the third quarter of 2014 were �5.9�million, an 8% increase over the third quarter of 2013 and a 5% decrease from the second quarter of 2014.

General and administrative costs1 in the third quarter of 2014 were �7.7�million, a 9% increase compared with the third quarter of 2013 and a 2% increase over the second quarter of 2014. Depreciation and amortisation in the third quarter of 2014 was �16.0�million, a 5% increase compared with the third quarter of 2013 and an 8% increase over the second quarter of 2014.

1 Excluding depreciation, amortisation, impairments, increase/(decrease) in provision for onerous lease contracts, and share-based payments.

2 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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Net financing costs in the third quarter of 2014 were �7.0�million, an 82% decrease compared with the third quarter of 2013 and a 7% decrease over the second quarter of 2014. During the third quarter of 2013, Interxion closed a refinancing transaction that resulted in a �31.0�million one-time charge. Excluding this charge, net financing costs in the third quarter of 2014 were 1.4% lower than adjusted third quarter 2013 net financing costs.

Income tax expense was �3.9�million in the third quarter of 2014, compared to a �4.1�million income tax benefit in the third quarter of 2013, and a 2% decrease from the second quarter of 2014. The underlying effective tax rate for the quarter was 30% unchanged from the 30% in the same period last year.

Net profit was �9.0�million in the third quarter of 2014, compared to a net loss of �16.5�million in the third quarter 2013 and an 8% increase over the second quarter of 2014. Earnings per share were �0.13 on a weighted average of 70.0�million diluted shares in the third quarter of 2014. This result compares with a net loss of �0.24 on a weighted average of 69.5�million diluted shares in the third quarter of 2013, and earnings per share of �0.12 on a weighted average of 69.8�million diluted shares in the second quarter of 2014. Adjusted diluted earnings per share2 for the third quarter of 2014 were �0.11, compared with �0.10 for the third quarter of 2013 and �0.11 for the second quarter of 2014.

Adjusted EBITDA in the third quarter of 2014 was �37.3�million, an 11% increase over the third quarter of 2013 and a 4% increase over the second quarter of 2014. Adjusted EBITDA margin was 43.1%, compared with 43.1% in the third quarter of 2013 and 42.9% in the second quarter of 2014.

Cash generated from operations, defined as cash generated from operating activities before interest and corporate income tax payments and receipts, was �33.6�million in the third quarter of 2014, a 5% increase over the third quarter of 2013 and a 25% increase over the second quarter of 2014. Capital expenditure, including intangible assets, was �57.0�million in the third quarter of 2014, compared with �26.5�million in the third quarter of 2013 and �54.4�million in the second quarter of 2014.

Cash and cash equivalents were �112.8�million at 30�September 2014, up from �45.7�million at year-end 2013, principally due to the company adding a further �150.0�million aggregate principal amount of its 6.00% Senior Secured Notes due 2020, issued at 106.75 and resulting in net cash proceeds of �157.9�million, net of estimated offering fees and expenses of �2.3 million. Total borrowings, net of deferred revolving facility financing fees, were �542.7�million at the end of the third quarter of 2014, compared with �362.7�million at the end of 2013. In the quarter, the company entered into a finance lease obligation of �13.4�million relating to our AMS7 facility. The company�s �100�million revolving credit facility was undrawn at 30�September 2014.

During the quarter, the company completed its purchase of the data centre facilities in Marseille, France from Soci�t� Fran�aise du Radiot�l�phone � SFR SA (�SFR�). The company expects capital expenditure associated with the purchase of the freehold land and buildings together with the construction of the first two phases of equipped space totalling approximately 1,000 square metres to be approximately �20 million.

2 Diluted earnings per share adjusted for the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and the related corporate income tax effect.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

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Equipped Space at the end of the third quarter of 2014 was 88,600 square metres, compared with 79,300 square metres at the end of the third quarter of 2013 and 86,000 square metres at the end of the second quarter of 2014.

AMS7 (Amsterdam): Phase 3 (1,500 square metres) became operational in 3Q 2014; phase 4 (1,300 square metres) is scheduled for 4Q 2014; phases 5 and 6 (1,300 square metres each) are scheduled for 1Q 2015 and 2Q 2015, respectively;

FRA8 (Frankfurt): Phases 3 and 4 (900 square metres each) are scheduled for 1Q 2015;

MRS1 (Marseille): Phases 1 and 2 (500 square metres each) are scheduled for 4Q 2014 and 1Q 2015, respectively;

STO3 (Stockholm): 900 square metres opened in 3Q 2014;

STO4 (Stockholm): 1,100 square metres are scheduled to open in 2Q 2015;

VIE2 (Vienna): Phase 1 (600 square metres) is scheduled to be operational in 4Q 2014; Phases 2 and 3 will deliver 1,000 square metres scheduled to be operational in 1Q 2015 and 300 square metres scheduled to be operational in 2Q 2015, and Phase 4 (900 square metres) is scheduled to open in the second half of 2015.

Revenue Generating Space at the end of the third quarter of 2014 was 68,500 square metres, compared with 59,100 square metres at the end of the third quarter of 2013 and 64,300 square metres at the end of the second quarter of 2014. Utilisation Rate, the ratio of Revenue Generating Space to Equipped Space, was 77% at the end of the third quarter of 2014, compared with 75% at the end of the third quarter of 2013 and 75% at the end of the second quarter of 2014.

4 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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Further Information for Noteholders

This Interim Report was prepared in accordance with the indenture (the �Indenture�) dated as of 3�July 2013 among Interxion Holding NV, as Issuer, the guarantors named therein, The Bank of New York Mellon, London Branch, as Trustee, principal paying agent and transfer agent; The Bank of New York Mellon (Luxembourg) S.A., as Luxembourg paying agent and registrar, and Barclays Bank PLC, as Security Trustee.

The information in this Interim Report may contain forward-looking statements within the meaning of Section�27A of the Securities Act of 1933, as amended, and Section�21E of the Securities Exchange Act of 1934, as amended. Such statements are based on current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, the words �believes�, �anticipates�, �plans�, �expects�, �intends�, and similar expressions are intended to identify forward-looking statements. Our actual results and the timing of certain events may differ significantly from the results discussed in the forward-looking statements. Factors that might cause such differences include, but are not limited to, the difficulty of reducing operating expenses in the short term, inability to utilise the capacity of newly planned data centres and data centre expansions, significant competition, the cost and supply of electrical power, data centre industry over-capacity, performance under service-level agreements, and other risks described from time to time in Interxion�s filings with the Securities and Exchange Commission. All forward-looking statements in this document are based on information available to us as of the date of this Interim Report and we assume no obligation to update any such forward-looking statements.

Use of Non-IFRS Information

EBITDA is defined as operating profit plus depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous lease contracts, and income from sub-leases on unused data centre sites. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of revenue. We present EBITDA, Adjusted EBITDA and Adjusted EBITDA margin as additional information because we understand that they are measures used by certain investors and because they are used in our financial covenants in the �100�million revolving facility and �475�million 6.00% Senior Secured Notes due 2020. A reconciliation from Net profit to EBITDA and EBITDA to Adjusted EBITDA is provided in the notes to our consolidated income statement included elsewhere in this interim report.

Adjusted Net Profit is defined as Net Profit/loss adjusted to exclude the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and related corporate income tax effect.

Other companies may, however, present EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Profit differently than we do. EBITDA, Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Net Profit are not measures of financial performance under IFRS and should not be considered as an alternative to operating profit or as a measure of liquidity or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

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Adjusted diluted earnings per share amounts are determined on Adjusted Net Profit3. A reconciliation from reported Net Profit to Adjusted Net Profit is provided below.

�� Three�Months�Ended Nine�Months�Ended
�� 30�Sep
2014
30�Sep
2013
30�Sep
2014
30�Sep
2013
�� (� in millions - except per share data)

Net profit/(loss) - as reported

�� 9.0 �� (16.5 )� 27.7 �� (2.9 )�

Add back

��

+ Refinancing charges

�� ��� �� 31.0 �� 0.6 �� 31.0 ��

+ Deferred tax asset adjustment

�� ��� �� 0.6 �� ��� �� 0.6 ��
��

�� ��� �� 31.6 �� 0.6 �� 31.6 ��

Reverse

��

- Adjustments to onerous lease

�� ��� �� ��� �� (0.8 )� ��� ��

- Interest capitalised

�� (1.3 )� (0.3 )� (3.0 )� (1.3 )�
��

�� (1.3 )� (0.3 )� (3.8 )� (1.3 )�

Tax effect of above add backs�& reversals

�� 0.3 �� (7.7 )� 0.8 �� (7.7 )�
��

Adjusted Net profit

�� 8.0 �� 7.1 �� 25.4 �� 19.7 ��
��

Reported Basic EPS: (�)

�� 0.13 �� (0.24 )� 0.40 �� (0.04 )�

Reported Diluted EPS: (�)

�� 0.13 �� (0.24 )� 0.40 �� (0.04 )�

Adjusted Basic EPS: (�)

�� 0.12 �� 0.10 �� 0.37 �� 0.29 ��

Adjusted Diluted EPS: (�)

�� 0.11 �� 0.10 �� 0.36 �� 0.29 ��

About Interxion

Interxion (NYSE: INXN) is a leading provider of cloud and carrier-neutral colocation data centre services in Europe, serving a wide range of customers through 38 data centres in 11 European countries.�Interxion�s data centres offer customers extensive security and uptime for their mission-critical applications. With connectivity provided by over 500 connectivity providers and 20 European Internet exchanges across its footprint, Interxion has created cloud, content, finance and connectivity hubs that foster growing customer communities of interest. For more information, please visit www.interxion.com.

3 Net Profit/loss excluding the impact of the refinancing charges, deferred tax adjustments, Dutch crisis tax, adjustments to onerous leases, capitalised interest, and related corporate income tax effect.

6 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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Consolidated Interim Income Statement

�� �� For�the�three�months�ended For�the�nine�months�ended
�� �� 30�Sep�2014 30�Sep�2013 30�Sep�2014 30�Sep�2013
�� Note �� ��000 ��000 ��000 ��000

Revenue

�� 5 �� �� 86,446 �� 78,051 �� 250,702 �� 228,957 ��

Cost of sales

�� 5 �� �� (35,531 )� (31,860 )� (102,107 )� (92,769 )�
�� ��

Gross profit

�� �� 50,915 �� 46,191 �� 148,595 �� 136,188 ��

Other income

�� 5 �� �� 57 �� 106 �� 167 �� 299 ��

Sales and marketing costs

�� 5 �� �� (5,926 )� (5,465 )� (18,021 )� (16,452 )�

General and administrative costs

�� 5 �� �� (25,211 )� (23,321 )� (71,199 )� (68,688 )�
�� ��

Operating profit

�� �� 19,835 �� 17,511 �� 59,542 �� 51,347 ��

Finance income

�� 6 �� �� 316 �� 118 �� 619 �� 350 ��

Finance expense

�� 6 �� �� (7,302 )� (38,200 )� (20,494 )� (52,213 )�
�� ��

Profit/(loss) before taxation

�� �� 12,849 �� (20,571 )� 39,667 �� (516 )�

Income tax expense

�� 7 �� �� (3,855 )� 4,053 �� (11,992 )� (2,432 )�
�� ��

Profit/(loss) for the period attributable to shareholders

�� �� 8,994 �� (16,518 )� 27,675 �� (2,948 )�
�� ��

Earnings per share

�� ��

Basic earnings per share: (�)

�� �� 0.13 �� (0.24 )� 0.40 �� (0.04 )�

Diluted earnings per share: (�)

�� �� 0.13 �� (0.24 )� 0.40 �� (0.04 )�

The accompanying notes form an integral part of these consolidated interim financial statements.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 7


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Consolidated Interim Statement of Comprehensive Income

�� For�the�three�months�ended For�the�nine�months�ended
�� 30�Sep�2014 30�Sep�2013 30�Sep�2014 30�Sep�2013
�� ��000 ��000 ��000 ��000

Profit/(loss) for the period attributable to shareholders

�� 8,994 �� (16,518 )� 27,675 �� (2,948 )�

Other comprehensive income

��

Items that are, or may be, reclassified subsequently to profit or loss:

��

Foreign currency translation differences

�� 2,829 �� 2,333 �� 4,717 �� (2,223 )�

Effective portion of changes in fair value of cash flow hedge

�� (108 )� 6 �� (384 )� 84 ��

Tax on items that are, or may be, reclassified subsequently to profit or loss

�� (410 )� (435 )� (536 )� 355 ��
��

Other comprehensive income/(loss) for the period, net of tax

�� 2,311 �� 1,904 �� 3,797 �� (1,784 )�
��

Total comprehensive income attributable to shareholders

�� 11,305 �� (14,614 )� 31,472 �� (4,732 )�
��

The accompanying notes form an integral part of these consolidated interim financial statements.

8 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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Consolidated Interim Statement of Financial Position

As at �� Note �� 30�Sep�2014
��000
31�Dec�2013
��000

Non-current assets

�� ��

Property, plant and equipment

�� 8 �� �� 850,500 �� 698,748 ��

Intangible assets

�� �� 18,545 �� 17,878 ��

Deferred tax assets

�� �� 30,812 �� 34,446 ��

Financial assets

�� �� 774 �� 774 ��

Other non-current assets

�� �� 5,781 �� 16,536 ��
�� ��

�� �� 906,412 �� 768,382 ��

Current assets

�� ��

Trade and other current assets

�� �� 115,694 �� 96,703 ��

Cash and cash equivalents

�� �� 112,755 �� 45,690 ��
�� ��

�� �� 228,449 �� 142,393 ��
�� ��

Total assets

�� �� 1,134,861 �� 910,775 ��
�� ��

Shareholders� equity

�� ��

Share capital

�� �� 6,915 �� 6,887 ��

Share premium

�� �� 492,205 �� 485,347 ��

Foreign currency translation reserve

�� �� 10,812 �� 6,757 ��

Hedging reserve, net of tax

�� �� (198 )� 60 ��

Accumulated deficit

�� �� (83,474 )� (111,149 )�
�� ��

�� �� 426,260 �� 387,902 ��

Non-current liabilities

�� ��

Trade payables and other liabilities

�� �� 11,658 �� 11,537 ��

Deferred tax liabilities

�� �� 6,750 �� 4,147 ��

Provision for onerous lease contracts

�� �� 2,607 �� 4,855 ��

Borrowings

�� 10 �� �� 541,445 �� 362,209 ��
�� ��

�� �� 562,460 �� 382,748 ��

Current liabilities

�� ��

Trade payables and other liabilities

�� �� 135,962 �� 132,093 ��

Income tax liabilities

�� �� 4,685 �� 2,229 ��

Provision for onerous lease contracts

�� �� 3,139 �� 4,020 ��

Borrowings

�� 10 �� �� 2,355 �� 1,783 ��
�� ��

�� �� 146,141 �� 140,125 ��
�� ��

Total liabilities

�� �� 708,601 �� 522,873 ��
�� ��

Total liabilities and shareholders� equity

�� �� 1,134,861 �� 910,775 ��
�� ��

The accompanying notes form an integral part of these consolidated interim financial statements.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 9


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Consolidated Interim Statement of Changes in Shareholders� Equity

�� Share
capital
�� Share
premium
�� Foreign
currency
translation
reserve
Hedging
reserve
Accumulated
deficit
Total�equity
�� ��000 �� ��000 �� ��000 ��000 ��000 ��000

Balance at 1�January 2014

�� 6,887 �� �� 485,347 �� �� 6,757 �� 60 �� (111,149 )� 387,902 ��

Profit for the period

�� ��� �� �� ��� �� �� ��� �� ��� �� 27,675 �� 27,675 ��

Other comprehensive income/(loss), net of tax

�� ��� �� �� ��� �� �� 4,055 �� (258 )� ��� �� 3,797 ��
��

��

��

Total comprehensive income

�� ��� �� �� ��� �� �� 4,055 �� (258 )� 27,675 �� 31,472 ��

Exercise of options

�� 28 �� �� 2,818 �� �� ��� �� ��� �� ��� �� 2,846 ��

Share-based payments

�� ��� �� �� 4,040 �� �� ��� �� ��� �� ��� �� 4,040 ��
��

��

��

Total contribution by, and distributions to, owners of the Company

�� 28 �� �� 6,858 �� �� ��� �� ��� �� ��� �� 6,886 ��
��

��

��

Balance at 30�September 2014

�� 6,915 �� �� 492,205 �� �� 10,812 �� (198 )� (83,474 )� 426,260 ��
��

��

��

Balance at 1�January 2013

�� 6,818 �� �� 477,326 �� �� 9,403 �� ��� �� (117,973 )� 375,574 ��

Profit/(loss) for the period

�� ��� �� �� ��� �� �� ��� �� ��� �� (2,948 )� (2,948 )�

Other comprehensive income, net of tax

�� ��� �� �� ��� �� �� (1,839 )� 55 �� ��� �� (1,784 )�
��

��

��

Total comprehensive income

�� ��� �� �� ��� �� �� (1,839 )� 55 �� (2,948 )� (4,732 )�

Exercise of options

�� 63 �� �� 3,970 �� �� ��� �� ��� �� ��� �� 4,033 ��

Share-based payments

�� ��� �� �� 2,603 �� �� ��� �� ��� �� ��� �� 2,603 ��
��

��

��

Total contribution by, and distributions to, owners of the Company

�� 63 �� �� 6,573 �� �� ��� �� ��� �� ��� �� 6,636 ��
��

��

��

Balance at 30�September 2013

�� 6,881 �� �� 483,899 �� �� 7,564 �� ������55 �� (120,921 )� 377,478 ��
��

��

��

The accompanying notes form an integral part of these consolidated interim financial statements.

10 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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Consolidated Interim Statement of Cash Flows

�� For�the�three�months�ended For�the�nine�months�ended
�� 30�Sep�2014 30�Sep�2013 30�Sep�2014 30�Sep�2013
�� ��000 ��000 ��000 ��000

Profit/(loss) for the period

�� 8,994 �� (16,518 )� 27,675 �� (2,948 )�

Depreciation, amortisation and impairments

�� 16,025 �� 15,211 �� 44,870 �� 44,138 ��

Provision for onerous lease contracts

�� (859 )� (825 )� (3,313 )� (2,456 )�

Share-based payments

�� 1,472 �� 1,055 �� 4,246 �� 2,889 ��

Net finance expense

�� 6,986 �� 38,082 �� 19,875 �� 51,863 ��

Income tax expense

�� 3,855 �� (4,053 )� 11,992 �� 2,432 ��
��

�� 36,473 �� 32,952 �� 105,345 �� 95,918 ��
��

Movements in trade and other current assets

�� (7,848 )� (1,105 )� (19,077 )� (9,909 )�

Movements in trade and other liabilities

�� 5,012 �� 156 �� 8,607 �� (6,314 )�
��

Cash generated from operations

�� 33,637 �� 32,003 �� 94,875 �� 79,695 ��
��

Interest and fees paid

�� (11,711 )� (10,763 )� (23,772 )� (21,934 )�

Interest received

�� 114 �� 145 �� 238 �� 432 ��

Income tax paid

�� (1,950 )� (2,020 )� (4,151 )� (4,090 )�
��

Net cash flows from operating activities

�� 20,090 �� 19,365 �� 67,190 �� 54,103 ��
��

Cash flows from investing activities

��

Purchase of property, plant and equipment

�� (56,251 )� (25,959 )� (166,276 )� (85,432 )�

Purchase of intangible assets

�� (790 )� (508 )� (2,180 )� (2,603 )�
��

Net cash flows from investing activities

�� (57,041 )� (26,467 )� (168,456 )� (88,035 )�
��

Cash flows from financing activities

��

Proceeds from exercised options

�� 1,444 �� 1,289 �� 2,846 �� 4,032 ��

Proceeds from mortgages

�� ��� �� ��� �� 9,185 �� 15,324 ��

Repayment of mortgages

�� (320 )� (167 )� (1,054 )� (167 )�

Proceeds Revolving Facility

�� ��� �� ��� �� 30,000 �� ��� ��

Repayments Revolving Facility

�� ��� �� ��� �� (30,000 )� ��� ��

Payments for Revolving Facility

�� ��� �� (1,159 )� ��� �� (1,159 )�

Proceeds 6.00% Senior Secured Notes due 2020

�� (504 )� 317,814 �� 157,878 �� 317,814 ��

Repayment 9.50% Senior Secured Notes due 2017

�� ��� �� (286,478 )� ��� �� (286,478 )�

Interest received at issuance Additional Notes

�� ��� �� ��� �� 2,600 �� ��� ��

Interest paid related to interest received at issue of Additional Notes

�� (2,600 )� ��� �� (2,600 )� ��� ��

Transaction costs related to Senior Secured Facility

�� (275 )� ��� �� (646 )� ��� ��

Repayment of other borrowings

�� 8 �� (28 )� (15 )� (53 )�
��

Net cash flows from financing activities

�� (2,247 )� 31,271 �� 168,194 �� 49,313 ��

Effect of exchange rate changes on cash

�� 73 �� (9 )� 137 �� (70 )�
��

Net movement in cash and cash equivalents

�� (39,125 )� 24,160 �� 67,065 �� 15,311 ��

Cash and cash equivalents, beginning of period

�� 151,880 �� 59,843 �� 45,690 �� 68,692 ��
��

Cash and cash equivalents, end of period

�� 112,755 �� 84,003 �� 112,755 �� 84,003 ��
��

The accompanying notes form an integral part of these consolidated interim financial statements.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 11


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Notes to the Consolidated Interim Financial Statements

1 The Company

Interxion Holding NV (the �Company�) is domiciled in The Netherlands. The address of the Company�s registered office is Tupolevlaan 24, 1119 NX, Schiphol-Rijk, The Netherlands. The Consolidated Interim Financial Statements of the Company as at and for the three and nine month periods ended 30�September 2014 comprise the Company and its subsidiaries (together referred to as the �Group�). The Group is a leading pan-European operator of cloud and carrier-neutral colocation data centres.

2 Basis of preparation

a) Statement of compliance

The Consolidated Interim Financial Statements have been prepared in accordance with International Financial Reporting Standards (IFRS) IAS 34 Interim Financial Reporting. They do not include all the information required for full annual financial statements, and should be read in conjunction with the audited Consolidated Financial Statements of the Group as at and for the year ended 31�December 2013; these are contained in the 2013 Annual Report (Form 20-F) as filed with the Securities and Exchange Commission on 8�April 2014, which is publicly available on the company�s website � www.interxion.com, or from the SEC website � www.sec.gov.

b) Estimates, judgment and seasonality

The preparation of Consolidated Interim Financial Statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these�estimates.

In preparing these Consolidated Interim Financial Statements, the significant judgments made by management in applying the Group�s accounting policies and the key sources of estimation uncertainty were the same as those applied to the Consolidated Financial Statements as at and for the year ended 31�December 2013 in the 2013 Annual Report (Form 20-F).

The Group�s operations are not significantly exposed to seasonality.

3 Significant accounting policies

The accounting policies applied by the Group in these Consolidated Interim Financial Statements are the same as those applied by the Group in its Consolidated Financial Statements as at and for the year ended 31�December 2013 in the 2013 Annual Report (Form 20-F) including new Standards and Interpretations effective as of 1�January 2014. Compared with the accounting principles as applied in the 2013 financial statements these new Standards and Interpretations did not have a significant impact on the financial position or performance of the Group.

12 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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4 Financial risk management

The Group�s financial risk management objectives and policies are consistent with those disclosed in the audited Consolidated Financial Statements in the 2013 Annual Report (Form 20-F).

5 Information by segment

The performance of the operating segments is primarily based on the measures of revenue, EBITDA and Adjusted EBITDA. Other information provided, except as noted below, to the Board of Directors is measured in a manner consistent with that in the financial statements.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 13


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For the three months ended 30 Sep 2014 �� FR, DE
NL�and�UK
Rest of
Europe
Subtotal Corporate
and other
Total
�� ��000 ��000 ��000 ��000 ��000

Recurring revenue

�� 50,950 �� 29,913 �� 80,863 �� ��� �� 80,863 ��

Non-recurring revenue

�� 3,901 �� 1,682 �� 5,583 �� ��� �� 5,583 ��

Revenue

�� 54,851 �� 31,595 �� 86,446 �� ��� �� 86,446 ��

Cost of sales

�� (21,658 )� (12,165 )� (33,823 )� (1,708 )� (35,531 )�
��

Gross profit/(loss)

�� 33,193 �� 19,430 �� 52,623 �� (1,708 )� 50,915 ��

Other income

�� 57 �� ��� �� 57 �� ��� �� 57 ��

Sales and marketing costs

�� (1,728 )� (1,211 )� (2,939 )� (2,987 )� (5,926 )�

General and administrative costs

�� (13,102 )� (6,362 )� (19,464 )� (5,747 )� (25,211 )�
��

Operating profit/(loss)

�� 18,420 �� 11,857 �� 30,277 �� (10,442 )� 19,835 ��

Net finance expense

�� (6,986 )�
��

Profit before tax

�� 12,849 ��
��

Total assets

�� 760,212 �� 263,009 �� 1,023,221 �� 111,640 �� 1,134,861 ��

Total liabilities

�� 165,599 �� 53,817 �� 219,416 �� 489,185 �� 708,601 ��

Capital expenditure, including intangible assets*

�� (37,322 )� (17,696 )� (55,018 )� (2,023 )� (57,041 )�

Depreciation, amortisation, impairments

�� (10,528 )� (4,610 )� (15,138 )� (887 )� (16,025 )�

Adjusted EBITDA

�� 29,226 �� 16,767 �� 45,993 �� (8,718 )� 37,275 ��
��

For the three months ended 30 Sep 2013 ��

FR, DE

NL and UK

Rest of
Europe
Subtotal Corporate
and other
Total
�� ��000 ��000 ��000 ��000 ��000

Recurring revenue

�� 46,057 �� 27,651 �� 73,708 �� ��� �� 73,708 ��

Non-recurring revenue

�� 2,713 �� 1,630 �� 4,343 �� ��� �� 4,343 ��

Revenue

�� 48,770 �� 29,281 �� 78,051 �� ��� �� 78,051 ��

Cost of sales

�� (18,463 )� (11,551 )� (30,014 )� (1,846 )� (31,860 )�
��

Gross profit/(loss)

�� 30,307 �� 17,730 �� 48,037 �� (1,846 )� 46,191 ��

Other income

�� 106 �� ��� �� 106 �� ��� �� 106 ��

Sales and marketing costs

�� (1,521 )� (1,253 )� (2,774 )� (2,691 )� (5,465 )�

General and administrative costs

�� (12,147 )� (6,259 )� (18,406 )� (4,915 )� (23,321 )�
��

Operating profit/(loss)

�� 16,745 �� 10,218 �� 26,963 �� (9,452 )� 17,511 ��

Net finance expense

�� (38,082 )�
��

Profit before tax

�� (20,571 )�
��

Total assets

�� 590,500 �� 207,318 �� 797,818 �� 87,840 �� 885,658 ��

Total liabilities

�� 135,540 �� 41,438 �� 176,978 �� 331,202 �� 508,180 ��

Capital expenditure, including intangible assets*

�� (17,595 )� (7,998 )� (25,593 )� (874 )� (26,467 )�

Depreciation, amortisation, impairments

�� (9,761 )� (4,638 )� (14,399 )� (812 )� (15,211 )�

Adjusted EBITDA

�� 26,587 �� 14,931 �� 41,518 �� (7,847 )� 33,671 ��
��

* Capital expenditure, including intangible assets, represents payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as �Purchase of property, plant and equipment� and �Purchase of intangible assets,� respectively.

14 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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For the nine months ended 30 Sep 2014 ��

FR, DE

NL�and�UK

Rest of
Europe
Subtotal Corporate
and other
Total
�� ��000 ��000 ��000 ��000 ��000

Recurring revenue

�� 147,929 �� 87,537 �� 235,466 �� ��� �� 235,466 ��

Non-recurring revenue

�� 9,904 �� 5,332 �� 15,236 �� ��� �� 15,236 ��

Revenue

�� 157,833 �� 92,869 �� 250,702 �� ��� �� 250,702 ��

Cost of sales

�� (61,330 )� (35,309 )� (96,639 )� (5,468 )� (102,107 )�
��

Gross profit/(loss)

�� 96,503 �� 57,560 �� 154,063 �� (5,468 )� 148,595 ��

Other income

�� 167 �� ��� �� 167 �� ��� �� 167 ��

Sales and marketing costs

�� (5,325 )� (3,866 )� (9,191 )� (8,830 )� (18,021 )�

General and administrative costs

�� (35,893 )� (18,536 )� (54,429 )� (16,770 )� (71,199 )�
��

Operating profit/(loss)

�� 55,452 �� 35,158 �� 90,610 �� (31,068 )� 59,542 ��

Net finance expense

�� (19,875 )�
��

Profit before tax

�� 39,667 ��
��

Total assets

�� 760,212 �� 263,009 �� 1,023,221 �� 111,640 �� 1,134,861 ��

Total liabilities

�� 165,599 �� 53,817 �� 219,416 �� 489,185 �� 708,601 ��

Capital expenditure, including intangible assets*

�� (116,495 )� (47,648 )� (164,143 )� (4,313 )� (168,456 )�

Depreciation, amortisation, impairments

�� (28,968 )� (13,386 )� (42,354 )� (2,516 )� (44,870 )�

Adjusted EBITDA

�� 84,408 �� 49,198 �� 133,606 �� (25,920 )� 107,686 ��
��

For the nine months ended 30 Sep 2013 ��

FR, DE

NL and UK

Rest of
Europe
Subtotal Corporate
and other
Total
�� ��000 ��000 ��000 ��000 ��000

Recurring revenue

�� 135,692 �� 81,166 �� 216,858 �� ��� �� 216,858 ��

Non-recurring revenue

�� 7,915 �� 4,184 �� 12,099 �� ��� �� 12,099 ��

Revenue

�� 143,607 �� 85,350 �� 228,957 �� ��� �� 228,957 ��

Cost of sales

�� (53,922 )� (33,206 )� (87,128 )� (5,641 )� (92,769 )�
��

Gross profit/(loss)

�� 89,685 �� 52,144 �� 141,829 �� (5,641 )� 136,188 ��

Other income

�� 299 �� ��� �� 299 �� ��� �� 299 ��

Sales and marketing costs

�� (5,028 )� (3,639 )� (8,667 )� (7,785 )� (16,452 )�

General and administrative costs

�� (35,985 )� (17,870 )� (53,855 )� (14,833 )� (68,688 )�
��

Operating profit/(loss)

�� 48,971 �� 30,635 �� 79,606 �� (28,259 )� 51,347 ��

Net finance expense

�� (51,863 )�
��

Profit before tax

�� (516 )�
��

Total assets

�� 590,500 �� 207,318 �� 797,818 �� 87,840 �� 885,658 ��

Total liabilities

�� 135,540 �� 41,438 �� 176,978 �� 331,202 �� 508,180 ��

Capital expenditure, including intangible assets*

�� (59,316 )� (26,552 )� (85,868 )� (2,167 )� (88,035 )�

Depreciation, amortisation, impairments

�� (28,668 )� (13,232 )� (41,900 )� (2,238 )� (44,138 )�

Adjusted EBITDA

�� 77,791 �� 44,122 �� 121,913 �� (23,838 )� 98,075 ��
��

* Capital expenditure, including intangible assets, represents payments to acquire property, plant and equipment and intangible assets, as recorded in the consolidated statement of cash flows as �Purchase of property, plant and equipment� and �Purchase of intangible assets,� respectively.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 15


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Reconciliation to adjusted EBITDA

�� For�the�three�months�ended For�the�nine�months�ended
�� 30 Sep
2014
30 Sep
2013
30 Sep
2014
30 Sep
2013
Consolidated �� ��000 ��000 ��000 ��000

Profit/(loss) for the period attributable to shareholders

�� 8,994 �� (16,518 )� 27,675 �� (2,948 )�

Income tax expense

�� 3,855 �� (4,053 )� 11,992 �� 2,432 ��
��

Profit/(loss) before taxation

�� 12,849 �� (20,571 )� 39,667 �� (516 )�

Finance income

�� (316 )� (118 )� (619 )� (350 )�

Finance expense

�� 7,302 �� 38,200 �� 20,494 �� 52,213 ��
��

Operating profit

�� 19,835 �� 17,511 �� 59,542 �� 51,347 ��

Depreciation, amortisation and impairments

�� 16,025 �� 15,211 �� 44,870 �� 44,138 ��
��

EBITDA(1)

�� 35,860 �� 32,722 �� 104,412 �� 95,485 ��

Share-based payments

�� 1,472 �� 1,055 �� 4,246 �� 2,889 ��

Increase/(decrease) in provision for onerous lease contracts

�� ��� �� ��� �� (805 )� ��� ��

Income from sub-leases on unused data centre sites

�� (57 )� (106 )� (167 )� (299 )�
��

Adjusted EBITDA(1)

�� 37,275 �� 33,671 �� 107,686 �� 98,075 ��
��

�� For�the�three�months�ended For�the�nine�months�ended
�� 30 Sep
2014
30 Sep
2013
30 Sep
2014
30 Sep
2013
FR, DE, NL and UK �� ��000 ��000 ��000 ��000

Operating profit

�� 18,420 �� 16,745 �� 55,452 �� 48,971 ��

Depreciation, amortisation and impairments

�� 10,528 �� 9,761 �� 28,968 �� 28,668 ��
��

EBITDA(1)

�� 28,948 �� 26,506 �� 84,420 �� 77,639 ��

Share-based payments

�� 335 �� 187 �� 960 �� 451 ��

Increase/(decrease) in provision for onerous lease contracts

�� ��� �� ��� �� (805 )� ��� ��

Income from sub-leases on unused data centre sites

�� (57 )� (106 )� (167 )� (299 )�
��

Adjusted EBITDA(1)

�� 29,226 �� 26,587 �� 84,408 �� 77,791 ��
��

16 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


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�� For�the�three�months�ended For�the�nine�months�ended
�� 30�Sep�2014 30�Sep�2013 30�Sep�2014 30�Sep�2013
Rest of Europe �� €�000 €�000 €�000 €�000

Operating profit

�� 11,857 �� 10,218 �� 35,158 �� 30,635 ��

Depreciation, amortisation and impairments

�� 4,610 �� 4,638 �� 13,386 �� 13,232 ��
��

EBITDA(1)

�� 16,467 �� 14,856 �� 48,544 �� 43,867 ��

Share-based payments

�� 300 �� 75 �� 654 �� 255 ��
��

Adjusted EBITDA(1)

�� 16,767 �� 14,931 �� 49,198 �� 44,122 ��
��

�� For the�three�months�ended For the nine months ended
�� 30 Sep 2014 30�Sep 2013 30 Sep 2014 30 Sep 2013
Corporate and other �� €�000 €�000 €�000 €�000

Operating profit/(loss)

�� (10,442 )� (9,452 )� (31,068 )� (28,259 )�

Depreciation, amortisation and impairments

�� 887 �� 812 �� 2,516 �� 2,238 ��
��

EBITDA(1)

�� (9,555 )� (8,640 )� (28,552 )� (26,021 )�

Share-based payments

�� 837 �� 793 �� 2,632 �� 2,183 ��
��

Adjusted EBITDA(1)

�� (8,718 )� (7,847 )� (25,920 )� (23,838 )�
��

(1) EBITDA is defined as operating profit plus depreciation, amortisation and impairment of assets. We define Adjusted EBITDA as EBITDA adjusted to exclude share-based payments, increase/decrease in provision for onerous lease contracts, and income from sub-leases on unused data centre sites. We present EBITDA and Adjusted EBITDA as additional information because we understand that they are measures used by certain investors and because they are used in our financial covenants in our �100�million revolving facility and �475�million 6.00% Senior Secured Notes due 2020. Other companies may, however, present EBITDA and Adjusted EBITDA differently. EBITDA and Adjusted EBITDA are not measures of financial performance under IFRS and should not be considered as an alternative to operating profit or as a measure of liquidity, or an alternative to net income as indicators of our operating performance or any other measure of performance derived in accordance with IFRS.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 17


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6 Finance income and expense

�� For�the�three�months�ended For�the�nine�months�ended
�� 30�Sep�2014 30�Sep�2013 30�Sep�2014 30�Sep�2013
�� ��000 ��000 ��000 ��000

Bank and other interest

�� 164 �� 118 �� 312 �� 350 ��

Foreign currency exchange profits

�� 152 �� ��� �� 307 �� ��� ��
��

Finance income

�� 316 �� 118 �� 619 �� 350 ��
��

Interest expense on Senior Secured Notes, bank and other loans

�� (6,183 )� (5,386 )� (16,854 )� (17,521 )�

Interest expense on finance leases

�� (603 )� (455 )� (1,517 )� (1,187 )�

Interest expense on provision for onerous lease contracts

�� (54 )� (81 )� (184 )� (260 )�

Other financial expenses

�� (462 )� (31,679 )� (1,939 )� (32,337 )�

Foreign currency exchange losses

�� ��� �� (599 )� ��� �� (908 )�
��

Finance expense

�� (7,302 )� (38,200 )� (20,494 )� (52,213 )�
��

Net finance expense

�� (6,986 )� (38,082 )� (19,875 )� (51,863 )�
��

The �Other financial expenses� for the nine-months period ended 30�September 2014, include the write off of deferred financing fees amounting to �0.6�million related to the Secured Senior Facility, which was terminated at the time of the successful closing of the offering of Additional Notes (as defined below). The �Other financial expenses� for the three and nine-months period ended 30�September 2013, include one-time refinancing costs of approximately �31�million of which �26.5�million in cash was related to the tender and redemption premiums and consent fees for the 9.50% Senior Secured Notes due 2017 (the �Senior Secured Notes due 2017�) and a write off of �4.5�million non-cash expenses from deferred financing costs related to the former �60�million Revolving Facility and unamortized costs of the Senior Secured Notes due 2017.

The �Interest expense on provision for onerous lease contracts� relates to the unwinding of the discount rate used to calculate the �Provision for onerous lease contracts�.

7 Income tax expense

The Group�s consolidated effective tax rate of 30% and 30%, in respect of continuing operations for the three and nine months ended 30�September 2014, respectively, was adversely affected by increased non-tax-deductible share-based payment expenses. The Group�s consolidated tax charge in respect of continuing operations for the three and nine months ended 30�September 2013, respectively, was affected by the �31�million one-time refinancing costs incurred in the quarter and a �0.6�million adjustment to a deferred tax asset in France following a change in tax law. Excluding these elements the effective tax rate for the three and nine months ended 30�September 2013 was 30% and 31%, respectively.

8 Property, plant and equipment

Acquisitions

During the three and nine months ended 30�September 2014, the Group acquired data-centre-related assets at a cost of �61,300,000 and �178,700,000 respectively (three and nine months ended 30�September 2013: �31,100,000 and �82,100,000, respectively). Included in these amounts are �13.4�million relating to the exercise of the option to purchase the AMS7 property and �8.5�million relating to the transaction with Soci�t� Fran�aise du Radiot�l�phone � SFR SA (�SFR�) to purchase a data centre campus in Marseille, France, owned by SFR. The acquisition was completed in the third quarter of 2014.

18 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


LOGO

Capitalized interest relating to borrowing costs for the three and nine months ended 30�September 2014 amounted to �1,323,000 and �2,958,000, respectively (three and nine months ended 30�September 2013: �291,000 and �1,314,000, respectively). The cash effect of the interest capitalised for the three and nine months ended 30�September 2014 amounted to �1,636,000 and �2,386,000 respectively, which in the Statement of Cash Flows is presented under �Purchase of property, plant and equipment� (three and nine months ended 30�September 2013: �649,000 and �3,681,000, respectively).

Capital commitments

At 30�September 2014, the Group had outstanding capital commitments of �73,000,000. These commitments are expected to be substantially settled during the remainder of 2014 and the first half of 2015.

9 Financial Instruments

Fair values versus carrying amounts

As of 30�September 2014, the market price of the �475�million 6.00% Senior Secured Notes due 2020 was 104.765 (30 September 2013: 102.7). Using this market price, the fair value of the Senior Secured Notes due 2020 would have been approximately �498�million (30 September 2013: �334 million) compared to their carrying amount of �475.7�million (30 September 2013: �317.4 million).

The carrying amounts of other financial assets and liabilities approximate their fair value.

Fair values and hierarchy

As at 30�September 2014, there were no liabilities related to financial instruments that are carried at fair value.

When measuring the fair value of an asset or liability, the Company uses market observable data as far as possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as defined below:

Level�1: �� quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level�2: �� inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level�3: �� inputs for the asset or liability that are not based on observable market data (unobservable inputs).

At 30�September 2014, the Group had a financial asset, its investment in Istream Planet Inc., carried at fair value and a cash flow hedge to hedge the interest rate risk of a mortgage.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

�� 19


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30�September 2014 �� Level 1 Level�2 Level�3
�� ��000 ��000 ��000

Senior Secured Notes 6.00% due 2020

�� (498,000 )� ��� �� ��� ��

Cash flow hedge

�� ��� �� (294 )� ��� ��

Financial asset

�� ��� �� ��� �� 774 ��
��

31�December 2013 �� Level 1 Level�2 �� Level�3

Senior Secured Notes 6.00% due 2020

�� (346,000 )� ��� �� �� ��� ��

Cash flow hedge

�� ��� �� 90 �� �� ��� ��

Financial asset

�� ��� �� ��� �� �� 774 ��
��

��

No significant changes in the levels of hierarchy, or transfers between levels, occurred in the reporting period. The fair value of the cash flow hedge as per 30�September 2014 was based on calculations derived from market inputs.

10 Borrowings

As at 30�September 2014, no amounts were drawn under our �100.0�million revolving facility.

On 28�July 2014, Interxion Holding N.V., received consent from the lenders under its �100�million revolving facility to decrease the net assets guarantor coverage ratio from 70% to 65% for a one-year period with effect from 30�June 2014. The net assets guarantor coverage ratio is calculated as the aggregate net assets of the guarantors under the revolving facility (calculated on an unconsolidated basis and excluding all intra-group items and investments in subsidiaries of any member of the Group) to consolidated net assets of the Group.

Senior Secured Facility

On 14�April 2014, the Company entered into a senior secured facility agreement (the �Senior Secured Facility Agreement�) between, among others, the Issuer, Barclays Bank PLC and ABN AMRO Bank N.V. as lenders and Barclays Bank PLC as agent (the �Agent�) and security trustee, pursuant to which a �100.0�million senior secured term facility (the �Senior Secured Facility�) was made available to the Company.

Following the successful closing of the offering of Additional Notes (as defined below and described in the following paragraph), the Company terminated the �100.0�million Senior Secured Facility Agreement. No amounts had been drawn under the Senior Secured Facility Agreement. However, deferred financing fees amounting to �0.6�million were written off in April 2014 in connection with the termination of the Secured Senior Facility Agreement.

20 ��

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited


LOGO

Additional Notes under Indenture dated 3�July 2013

On 29�April 2014, the Company completed the issuance of �150.0�million aggregate principal amount of its 6.00% Senior Secured Notes due 2020 (the �Additional Notes�). The net proceeds of the offering amount to �157.9�million, net of offering fees and expenses of �2.3�million. The net proceeds reflect the issuance of the Additional Notes at a premium at 106.75�and net of offering fees and expenses. The Additional Notes, which are guaranteed by certain subsidiaries of the Company, were issued under the indenture pursuant to which, on 3�July 2013, the Company issued �325.0�million in aggregate principal amount of 6.00% Senior Secured Notes due 2020.

Mortgage

On 1�April 2014, the Group completed a �9.2�million financing. The facility is secured by a mortgage on the data centre property in Zaventem (Belgium), which was acquired by Interxion Real Estate IX N.V. on 9�January 2014, a pledge on the lease agreement, and is guaranteed by Interxion Real Estate Holding B.V. The facility has a maturity of fifteen years and has a variable interest rate based on EURIBOR plus 200 basis points. The principal amount is to be repaid in 59 quarterly installments of �153,330 of which, the first quarterly installment was paid on 31�July 2014, and a final repayment of �153,530 is due on 30�April 2029.

Financial lease

On 22�August 2014, the Group exercised its option to purchase the AMS7 data centre land and building. The actual legal transaction will effect in 2023. As a result of this modification, in accordance with IAS17, the lease, which was previously reported as an operating lease, is reported as a financial lease as of 22�August 2014. The carrying amount of the land and building amounts to �13,400,000.

11 Related party transactions

The executive director, based on the Company�s performance and his performance, earned an initial allocation of 71,979 performance shares. This number has been calculated on the basis of the Company�s average share value during the month of January 2013, as well as the actual company and individual performance from 1�January 2013 to 31�December 2013. On 30�June 2014, the Annual General Meeting of Shareholders approved to grant 17,995 performance shares, 25% of the initial allocation, to the executive director pursuant to the Company�s 2013 Amended International Equity Based Incentive Plan. This first instalment, 25% of the initial allocation, vested immediately following the approval by the Annual General Meeting of Shareholders of the award. The shares will be locked up until 31�December 2014. The remaining 75% of the initial allocation (53,984 performance shares) is subject to the Company�s relative share performance over the 24 month period from 1�January 2013 to 31�December 2014 and is subject to approval by the Annual General Meeting of Shareholders to be held in 2015. Upon a change of control, the performance shares will vest immediately and any lock up provision will expire. Based on the service period and vesting conditions of these awards, �0.4�million of the related share-based payment charges have been recognized in 2014.

On 30�June 2014, the Annual General Meeting of Shareholders approved that each non-executive director will be awarded restricted shares equivalent to a value of �40,000 under the terms and conditions of the Company�s 2013 Amended International Equity Based Incentive Plan.

On 30�July 2014, the Board of Directors approved changes to the 2014 base compensation and an initial award of performance and restricted shares for certain members of key management under the terms and conditions of the Company�s 2013 Amended International Equity Based Incentive Plan. A total of 20,000 restricted shares and 35,592 performance shares are available in this initial award. The Company started recognizing related share-based payment charges in the third quarter of 2014.

Interim Report: Three and Nine-month periods ended 30 September 2014

This Interim Report is unaudited

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