Equinix reports solid sales and profits growth for the quarter

Equinix reports solid sales and profits growth for the quarter

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Equinix has reported a 10% annual increase in first quarter revenues to $1.6 billion, in a year it expects to be “one of the most active build years ever”.

The company says it has 36 major projects underway across 28 markets and 19 countries.

For the quarter ended 31 March 2021, the adjusted EBITDA was $773 million - up 13% year-on-year - helped by lower than expected utilities and repairs and maintenance expenses following disruption during the pandemic.

The net income was $156 million, an annual jump of 32%.

The company's current annual guidance for 2021 is revenue of between $6.5 and $6.6 billion, which would be an increase of between 9 and 10% over the previous year.

Charles Meyers, president and CEO of Equinix, said: “We had a great start to the year, and as businesses continue to navigate towards a post-pandemic world Equinix is uniquely well-positioned.

“Digital transformation continues to accelerate and businesses across a broad range of verticals are recognising that their infrastructure can be a key source of competitive advantage in an increasingly digital world.”

He added: “Q1 marked a milestone for Equinix as we are now the market leader in retail colocation in all three regions of the world, taking the number-one spot in Asia-Pacific for the first time.”

In Q1, Equinix says it delivered one of the strongest net bookings quarters in the company's history, with more than 4,300 deals across more than 3,200 customers, and the “lowest churn in many years”.

During the period Equinix announced the construction of the first building of its DB5x campus in Dublin, Ireland, which is 100% pre-leased to a “major hyperscaler” and is expected to be added to a “current or future joint venture”.

Earlier this month, Equinix completed the construction of AM7 phase 3, an expansion of its AM7 International Business Exchange in Amsterdam. The $63 million investment boosts the capacity for further digitisation of local and international customers. To date, Equinix has invested over $1 billion in its Amsterdam data centres.