Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q3 2021 Earnings Presentation
10 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Nov 4, 2021
Slide 1: Q3 2021 Earnings Call
Q3 2021 Earnings Call November 4, 2021
Slide 2: Forward looking statements
2 Forward looking statements We have made statements in this press release that constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements concern our operations, economic perform
Slide 3: Q3 2021 accomplishments
3 Q3 2021 accomplishments Net income increases 77%; Record quarterly Revenue, AFFO and Adjusted EBITDA Organic storage rental revenue growth of 2.3%, reflecting continued benefit of pricing combined with positive volume trends Total global volume grew to a record 744 million cubic feet Adjusted EBIT
Slide 4: Our exciting growth opportunities
4 Our exciting growth opportunities Fine Arts / Data Consumer Secure IT Asset Digital Entertainment Centers Storage Disposition Solutions Services Global Commercial Excellence
Slide 5: Our Total Addressable Market (TAM)
5 Our Total Addressable Market (TAM) 2020 2015 $10B $80B+ ~ low-single % ~ 13% Global RIM TAM TAM and revenue growth rate of and revenue growth rate Data Centers, Fine Art & Entertainment Services, Consumer, SITAD, Digital Solutions, SMB
Slide 6: Durable global physical storage portfolio
6 Durable global physical storage portfolio
Slide 7: Strong Q3 and first nine months of 2021
7 Strong Q3 and first nine months of 2021 ($ in millions, except per share data) Three Months Ended Year to Date 9/30/21 9/30/20 Y/Y % Change 9/30/21 9/30/20 Y/Y % Change Storage Rental Revenue $719 $696 3% $2,145 $2,057 4% Service Revenue $412 $340 21% $1,187 $1,031 15% Total Revenue $1,130 $1,037
Slide 8: Balance sheet well positioned
8 Balance sheet well positioned Balance Sheet Highlights as of Net Lease Adjusted Leverage 9/30/21 • ~$1.6 billion of liquidity • ~83% Fixed Rate Debt 5.5x 1 ~ • 4.5% weighted average interest rate • 6.7 years weighted-average maturity (1) As previously disclosed, excluding the approximately $260 mi
Slide 9: Capital allocation strategy
9 Capital allocation strategy • Long-term target AFFO payout ratio of low to mid-60s • Sustain the dividend at current level until AFFO payout ratio is reached and grow dividend from there • Long-term target leverage ratio of 4.5x – 5.5x • Reinvest in the business through growth Capital Expenditures
Slide 10: Key takeaways
10 Key takeaways ● Record quarterly performance with revenue of more than $1.1 billion and EBITDA of $418 million ● Continue to expect full-year solid organic storage rental revenue growth ● Expansion in TAM to more than $80 billion; new growth areas showing great potential with Global Digital Solut