Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q4 2021 Earnings Presentation
24 slides from Digital Realty Trust's earnings presentation, Feb 17, 2022
Slide 1: 4Q21 Financial Results
Digital Realty the trusted foundation | powering your digital ambitions 4Q21 FINANCIAL RESULTS FEBRUARY 2022 Global. Connected. Sustainable.
Slide 2: Navigating the Future
| 2 Navigating the Future Sustainable Growth for Customers, Shareholders and Employees Selling GLOBALLY … Supporting LOCALLY EMEA APAC AMERICAS A Digital Realty and Brookfield Infrastructure JV DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022 GLOBAL CONNECTED SUSTAINABLE
Slide 3: Serving a Social Purpose
| 3 Serving a Social Purpose Delivering Sustainable Growth for All Stakeholders Earned Nareit Leader in the Light award for fifth consecutive year ENVIRONMENTAL Led disaster recovery assistance and community reinvestment programs: committed to enhancing the well - being of shareholders, customers, e
Slide 4: Expanding Global Platform Supporting Customer Growth
| 4 Note: As of December 31, 2021 Global Platform Expanding Global Platform Supporting Customer Growth 4,000+ Customers 178,000+ Cross - Connects 50 Metro Areas Cape Town Johannesburg Hong Kong Frankfurt Lagos DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022
Slide 5: Data Gravity and Driving Data Hub Deployments
1) Projected compound annual growth in the intensity of data gravity, as measured in gigabytes per second, from 2020 - 2024. Projections according to Digital Realty’s proprietary Data Gravity Index DGx ™ report as of December 2020. Patent pending. 2) Gartner Worldwide IT Spend Forecast, Market Datab
Slide 6: Financial Results
Financial Results | 6 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022
Slide 7: Digital Transformation Driving Steady Demand
$0 $50 $100 $150 Digital Transformation Driving Steady Demand Global Full - Product Spectrum Provides Broadest Solutions Note: Darker shading represents interconnection bookings. Fourth - quarter bookings are highlighted in lighter blue. Totals may not add up due to rounding. 1) Other includes Power
Slide 8: Connected Data Communities Attracting New Logos
$52 million of total 4Q bookings from 0 - 1 MW + interconnection 68% of bookings outside the Americas Connected Data Communities Attracting New Logos | 8 131 new logos Energy Provider Ivy League University Semiconductor Manufacturer Trading Platform Insurance Brokerage Aerospace Manufacturing Note:
Slide 9: Top-Line Step Function: Healthy 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 from leases signed, but not yet commenced, based on estimate
Slide 10: Cycling Through Peak Vintage Renewals
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 $106 million of annualized GAAP rental revenue Signed renewal leases representing $42 million of annualized GAAP rental revenue Signed renewal
Slide 11: Effective Economic Risk Mitigation Strategies
61% 1% 7% 23% <1% <1% 4% 1% 1% 1% 1% <1% <1% <1% 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 December 31, 2021. Includes Digital Realty’s share of revenue from unconsolidated joi
Slide 12: Committed to Conservative Capital Structure
Committed to Conservative Capital Structure Maximizing Capital Menu Options, Minimizing Cost 1) Net Debt to Adjusted EBITDA is calculated as total debt at balance sheet carrying value (see Appendix), plus capital lease ob lig ations, plus our share of joint venture debt at carrying value, less cash
Slide 13: Debt Maturity Schedule
DEBT MATURITY SCHEDULE AS OF DECE MBER 31, 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 99 % Unsecured Unsecured Secured Fixed Floating Euro USD GBP Other 94 % Fixed 77 % Non - USD 6.4 YEARS Weighted Avg. Matu
Slide 14: Q&A
Q&A | 14 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022
Slide 15: Consistent Execution on Strategic Vision
Consistent Execution on Strategic Vision Delivering Current Results, Seeding Future Growth | 15 SUCCESSFUL 2021 INITIATIVES 1. Strengthening Connections with Customers Booked $500 million of new business and landed nearly 500 new logos 2. Enhancing our Global Platform Established Digital Realty as t
Slide 16: Appendix
Appendix | 16 DIGITAL REALTY | 4Q21 FINANCIAL RESULTS | FEBRUARY 17, 2022
Slide 17: 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 4Q21 TRAILING FOUR - QUARTER AVERAGE BOOKINGS 0 - 1 MW $37.1 mm > 1 MW $73.5 mm OTHER (1) $2.5 mm INTERC
Slide 18: Management Statements on Non-GAAP Measures
Appendix Management Statements on Non - GAAP Measures | 18 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 financi
Slide 19: Forward-Looking Statements
Appendix Forward - Looking Statements | 19 This information in this presentation contains forward - looking statements within the meaning of the federal securities laws, whi ch are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual o
Slide 20: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 20 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Net income available to common stockholders 1,057,629 $ 44,178 $ 1,681,498 $ 263,346 $ Adjustments: Noncontrolling interests in operating partnership 23,10
Slide 21: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 21 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 FFO available to common stockholders and unitholders -- diluted 448,603 $ 419,631 $ 1,842,972 $ 1,381,998 $ Termination fees and other non-core revenues 9,
Slide 22: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 22 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Net income available to common stockholders 1,057,629 $ 44,178 $ 1,681,498 $ 263,346 $ Interest 71,762 77,848 293,846 333,021 Loss from early extinguishmen
Slide 23: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 23 December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Rental revenues 386,745 $ 404,052 $ 1,573,284 $ 1,596,246 $ Tenant reimbursements - Utilities 84,573 77,375 344,747 316,902 Tenant reimbursements - Other 3
Slide 24: Reconciliation of Non-GAAP Items To Their Closest GAAP Equivalent
Reconciliation of Non - GAAP Items To Their Closest GAAP Equivalent | 24 Note: For quarter ended December 31, 2021. Total Debt/Total Enterprise Value QE 12/31/21 Market value of common equity (i) $51,353,636 Debt Service Ratio (LQA Adjusted EBITDA/GAAP interest expense plus capitalized interest and