Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q4 2021 Earnings Presentation
8 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Feb 24, 2022
Slide 1: Q4 2021 Earnings Call
Q4 2021 Earnings Call February 24, 2022
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: FY 2021 accomplishments
3 FY 2021 accomplishments ● Full year net income increased 32%; record Revenue, AFFO and Adjusted EBITDA ● Organic storage rental revenue growth of +2.6% for the full year and +3.6% for the fourth quarter, reflecting continued benefit of pricing combined with positive volume trends ● Total global vo
Slide 4: Strong Q4 and FY2021
4 Strong Q4 and FY2021 ($ in millions, except per share data) Three Months Ended Full-Year Ended 12/31/21 12/31/20 Y/Y % Change 12/31/21 12/31/20 Y/Y % Change Storage Rental Revenue $725 $697 4% $2,870 $2,754 4% Service Revenue $434 $362 20% $1,621 $1,393 16% Total Revenue $1,160 $1,060 9% $4,492 $4
Slide 5: Balance sheet well positioned
5 Balance sheet well positioned Balance Sheet Highlights as of Net Lease Adjusted Leverage 12/31/21 • ~$2 billion of liquidity 5.9x • ~90% Fixed Rate Debt • 4.8% weighted average 5.3x ~5.4x interest rate • 7.1 years weighted-average maturity Source: J.P. Morgan REIT Weekly U.S. Real Estate report Fe
Slide 6: Capital allocation strategy
6 Capital allocation strategy • Invest in accretive M&A and reinvest in the business through growth Capital Expenditures • Growth capital from capital recycling as well as debt finance in line with Adjusted EBITDA growth • Long-term target AFFO payout ratio of low to mid-60s • Sustain the dividend a
Slide 7: 2022 Guidance
7 2022 Guidance ($ in millions, except per share data) 2021 Results 2022 Guidance Y/Y % Change Total Revenue 4,492 $5,125 - $5,275 14% - 17% Adjusted EBITDA 1,635 $1,800 - $1,850 10% - 13% AFFO 1,012 $1,085 - $1,120 7% - 11% AFFO Per Share $3.48 $3.70 - $3.82 6% - 10% Iron Mountain does not provide
Slide 8: Key takeaways
8 Key takeaways ● Record quarterly performance with revenue of $1.16 billion and Adjusted EBITDA of $431 million; full year revenue of $4.49 billion and Adjusted EBITDA of $1.635 billion ● Expansion in TAM to $120 billion; new growth areas showing great potential with Global Digital Solutions and as