Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q2 2021 Earnings Presentation
23 slides from Digital Realty Trust's earnings presentation, Jul 29, 2021
Slide 1: 2Q21 Financial Results
Digital Realty the trusted foundation | powering your digital ambitions Global. Connected. Sustainable. 2Q21 FINANCIAL RESULTS JULY 2021
Slide 2: Navigating the Future
| 2 Navigating the Future Sustainable Growth for Customers, Shareholders and Employees GLOBAL CONNECTED SUSTAINABLE Selling GLOBALLY… Supporting LOCALLY EMEA APAC AMERICAS A Digital Realty and Brookfield Infrastructure JV DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021
Slide 3: Serving a Social Purpose
| 3 Serving a Social Purpose Delivering Sustainable Growth for All Stakeholders Awarded 2021 Green Lease Leader for third consecutive year ENVIRONMENTAL Led disaster recovery assistance and community reinvestment programs: committed to enhancing the well‐ being of shareholders, customers, employees,
Slide 4: Expanding Global Platform Supporting Customer Growth
| 4 Note: As of June 30, 2021. Global Platform Expanding Global Platform Supporting Customer Growth 4,000+ Customers 170,000+ Cross‐Connects 47 Metro Areas DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 Singapore Seoul Marseille Mumbai Toronto
Slide 5: Enterprises Struggle to Share Data
Enterprise workflows typically use 400+ data sources (3) exchanged across 27 cloud products (4) | 5 Enterprises Struggle to Share Data Digital Transformation Exacerbates Complexity Global Data Center Platform Provides Solution DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 Leaders Major Pla
Slide 6: Financial Results
Financial Results | 6 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021
Slide 7: Digital Transformation Driving Steady Demand
Digital Transformation Driving Steady Demand Global Full‐Product Spectrum Provides Broadest Solutions Note: Darker shading represents interconnection bookings. Second‐quarter bookings are highlighted in lighter blue. Totals may not add up due to rounding. 1) Other includes Powered Base Building® she
Slide 8: Connected Data Communities Attracting New Logos
47% of total bookings from 0‐1 MW + interconnection 44% of total bookings outside the Americas Connected Data Communities Attracting New Logos | 8 109 new logos Computer Technology Cloud & Media Provider Customer Data Platform Digital Healthcare & Biotech Financial Services European Broadcaster Note
Slide 9: Healthy Backlog Sets a Solid Foundation
$197M $82M $283M $14M $6M $8M $24M 2021 2022 2023 1Q21 Backlog Top‐Line Step Function Healthy Backlog Sets a Solid Foundation | 9 Note: Totals may not add up due to rounding. 1) Amounts shown represent GAAP annualized base rent from leases signed. 2) Amounts shown represent GAAP annualized base rent
Slide 10: Narrowing the Gap on Cash Re-Leasing Spreads
Cycling Through Peak Vintage Renewals Narrowing the Gap on Cash Re‐Leasing Spreads | 10 0‐1 MW > 1 MW OTHER (1) TOTAL Signed renewal leases representing $131 million of annualized GAAP rental revenue Signed renewal leases representing $40 million of annualized GAAP rental revenue Signed renewal leas
Slide 11: Effective Economic Risk Mitigation Strategies
Effective Economic Risk Mitigation Strategies Benefits of Scale and Diversification on Display Source: FactSet. Note: Totals may not add up due to rounding. 1) As of June 30, 2021. Includes Digital Realty’s share of revenue from unconsolidated joint ventures. 2) Core FFO is a non‐GAAP financial meas
Slide 12: Four-Quarter Two-Step Building Momentum
Four‐Quarter Two‐Step Building Momentum Note: Based on management estimates; actual performance may differ materially. Core FFO and NOI are non‐GAAP financial measures. For descriptions and reconciliations to the closest GAAP equivalents, see the Appendix. 2021E CORE FFO PER SHARE | 12 1Q21 2Q21 Def
Slide 13: Matching the Duration of Assets and Liabilities
DEBT MATURITY SCHEDULE AS OF JUNE 30, 2021 (1)(2) (U.S. $ in billions) Matching the Duration of Assets and Liabilities Clear Runway on the Left, No Bar Too Tall on the Right 98% Unsecured Unsecured Secured Fixed Floating USD Euro GBP Other 90% Fixed 73% Non‐USD 6.4 YEARS Weighted Avg. Maturity (1)(2
Slide 14: Consistent Execution on Strategic Vision
Consistent Execution on Strategic Vision Delivering Current Results, Seeding Future Growth | 14 SUCCESSFUL 2Q21 INITIATIVES 1. Enhancing Product Mix Reached high‐water mark for 0‐1 MW + interconnection bookings 2. Delivering Sustainable Growth for Stakeholders Published third annual ESG Report 3. Ac
Slide 15: Appendix
Appendix | 15 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021
Slide 16: Digital Transformation Driving Steady Demand
Digital Transformation Driving Steady Demand Global Full‐Product Spectrum Provides Broadest Solutions HISTORICAL BOOKINGS TRAILING FOUR‐QUARTER AVERAGE ANNUALIZED GAAP BASE RENT $ in millions 2Q21 TRAILING FOUR‐QUARTER AVERAGE BOOKINGS 0‐1 MW $34.8 mm > 1 MW $62.7 mm OTHER (1) $2.0 mm INTERCONNECTIO
Slide 17: Management Statements on Non-GAAP Measures
Appendix Management Statements on Non‐GAAP Measures | 17 The information included in this presentation contains certain non‐GAAP financial measures that management believes are helpful in understanding our business, as further described below. Our definition and calculation of non‐GAAP financial mea
Slide 18: Forward-Looking Statements
Appendix Forward‐Looking Statements | 18 This information in this presentation contains forward‐looking statements within the meaning of the federal securities laws, which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcom
Slide 19: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non‐GAAP Items To Their Closest GAAP Equivalent | 19 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Net income available to common stockholders 127,368 $ 53,676 $ 499,778 $ 256,535 $ Adjustments: Noncontrolling intere
Slide 20: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non‐GAAP Items To Their Closest GAAP Equivalent | 20 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 FFO available to common stockholders and unitholders ‐‐ diluted 514,692 $ 414,533 $ 947,056 $ 626,831 $ Termination f
Slide 21: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non‐GAAP Items To Their Closest GAAP Equivalent | 21 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Net income available to common stockholders 127,368 $ 53,676 $ 499,778 $ 256,535 $ Interest 75,014 79,874 150,667 165
Slide 22: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non‐GAAP Items To Their Closest GAAP Equivalent | 22 DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Rental revenues 420,244 $ 417,728 $ 834,406 $ 832,191 $ Tenant reimbursements ‐ Utilities 84,225 79,980 180,456 162,3
Slide 23: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non‐GAAP Items To Their Closest GAAP Equivalent | 23 Note: For quarter ended June 30, 2021. DIGITAL REALTY | 2Q21 FINANCIAL RESULTS | JULY 29, 2021 Total Debt/Total Enterprise Value QE 6/30/21 Market value of common equity(i) 43,582,029 $ Liquidation value of preferred equity(ii) 7