The world’s digital infrastructure company, Equinix, reported financial results for the fourth quarter and the year ended December 31, 2020. According to the announcement, 2020 annual revenues increased 8% year-over-year and constant currency basis to approximately $6 billion. 2020’s fourth quarter represents Equinix’s 72nd consecutive quarter of revenue growth. During that period, the company also continued to expand its platform, building across 44 projects in 30 markets and 20 countries.
2020 Results Summary
- Revenues
- $5.999 billion, an 8% increase over the previous year on both an as-reported and normalized and constant currency basis
- Operating Income
- $1.053 billion, a 10% decrease from the previous year, and an operating margin of 18%, in part due to increased acquisition costs and the prior year’s gain on sale of assets contributed to the EMEA joint venture
- Adjusted EBITDA
- $2.853 billion, a 48% adjusted EBITDA margin
- Includes $17 million of integration costs
- Net Income and Net Income per Share attributable to Equinix
- $370 million, a 27% decrease from the previous year, primarily due to acquisition costs and losses on debt extinguishment related to balance sheet refinancing initiatives
- $4.18 per share, a 30% decrease from the previous year
- AFFO and AFFO per Share
- $2.189 billion, a 13% increase over the previous year or 18% on a normalized and constant currency basis
- $24.76 per share, a 9% increase over the previous year or 12% on a normalized and constant currency basis
- Includes $17 million of integration costs
Charles Meyers, President and CEO, Equinix, said,
“While 2020 brought about a landscape of challenges and change, Equinix continued to innovate and adapt, serving as a trusted partner to our customers on their digital transformation journey. We continued to extend our market leadership, delivering approximately $6 billion of revenue and driving healthy growth both on the top-line and at the per-share level. As we look ahead, I am as optimistic as ever about our business and the expanding opportunity to serve our customers, partners and shareholders as the world’s digital infrastructure company.”
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