Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q3 2024 Earnings Presentation
21 slides from Digital Realty Trust's earnings presentation, Oct 24, 2024
Slide 1: 3Q24 Financial Results
3Q24 FINANCIAL RESULTS October 24, 2024 Global. Connected. Sustainable. The meeting place for companies, technologies and data
Slide 2: Executing on Key Strategic Priorities: Third Quarter Highlights
Executing on Key Strategic Priorities Positioning for Long-Term Sustainable Growth Third Quarter Highlights 5,000+ 225,000+ Customers Cross Connects Record Leasing 2 Strong Operating 3 Record 1 and Backlog Results Development 50+ 300+ $521M Metros Data Centers Record in Total +100 bps ~50% Coverage
Slide 3: Offering a Global Data Center Platform
Offering a Global Data Center Platform Capacity in World’s Major Metros to Meet Growing Customer Demand Global Capacity ~2,700 MW in place IT capacity >3,000 MW buildable IT capacity 644 MW under construction 244 MW 36 MW new starts in 3Q delivered in 3Q Note: As of September 30, 2024. 3Q24 Financia
Slide 4: Enabling the Meeting Place
Enabling the Meeting Place Record Quarter in Colocation and Interconnection 3Q24 Results 149 Record New Logos Added $66M Record 3Q Bookings from 0-1MW + Interconnection $40M Record 3Q Bookings in the 0-500kW tranche 3Q24 Financial Results 4
Slide 5: Leading Data Center Partner for Sustainability
Leading Data Center Partner for Sustainability Science-Based Target Commitment to Reduce Global Emissions by 68% by 2030 Renewable Energy Green Buildings Resource Efficiency Green Bonds Leading data center purchaser of More green building certified IT capacity More energy star certifications than an
Slide 6: 3Q24 Financial Results
3Q24 Financial Results 3Q24 Financial Results 6
Slide 7: 3Q24 Bookings Double the Prior Record
HISTORICAL BOOKINGS 3Q24 Bookings ANNUALIZED GAAP BASE RENT $ in millions Double the Prior $500 Record $375 • Record Volume in >1MW $250 • Record Pricing in >1MW $125 • Record Volume in 0-1MW + IX $0 2020 2021 2022 2023 2024 • 2024 YTD Signings Marks Highest Single 3Q24 BOOKINGS Year Total 0-1 MW IN
Slide 8: Record Backlog Provides Visibility
Record Backlog BACKLOG ROLL-FORWARD (1) $ in millions COMMENCEMENT TIMING (3) $ in millions Provides Visibility $521M $180M $178M $859M $99M $859M • Record Commencements $308M $95M $467M of $180M $286M • Record Backlog of $518M $352M $859M $760M $760M $469M $288M $100M $90M 2Q24 Backlog (2) Signed C
Slide 9: Strong Pricing Environment
Strong Pricing Environment 3Q24 RENEWAL SPREADS 0-1 MW > 1 MW OTHER (1) TOTAL RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE RENTAL RATE CHANGE • Record Breaking Re-Leasing Spreads 4.5% 31.4% 7.7% 15.2% CASH CASH CASH CASH Driven By >1MW 6.2% 60.6% 18.5% 27.5% GAAP GAAP GAAP GAAP • 2024 Re
Slide 10: Revenue Exposure by Currency
EXPOSURE BY REVENUE (1) Revenue Exposure 50% USD 23% EURO 6% GBP 5% SGD 5% ZAR 2% BRL 2% JPY 2% CHF 1% CAD AUD 1% <1% OTHER by Currency FX is a Modest Tailwind in 1% <1% <1% 6% the Third Quarter 2% 23% <1% 50% 2% <1% • Local Operations Funded <1% 5% <1% in Local Currencies Act as 2% a Natural Hedge
Slide 11: Matching the Duration of Assets and Liabilities
Matching the Duration of Assets and Liabilities Modest Near-Term Maturities, Well-Laddered Debt Schedule DEBT MATURITY SCHEDULE AS OF September 30, 2024 (1)(2) DEBT PROFILE (U.S. $ in billions) $3.6 4.7 YEARS 2.8% Unsecured $3.4 Weighted Avg. Weighted Avg. Maturity (1)(2) Coupon (1)(3) 96% Secured U
Slide 12: Enhanced Visibility and Positioning for Accelerating Growth
Enhanced Visibility and Positioning for Accelerating Growth Long-Term Core FFO Growth Mid Single-Digit Growth Executing on Key Strategic Priorities (1) 1.7% DIVERSIFIED Capital Sources & Deleveraging UNLOCKED Development Pipeline IMPROVED Pricing and MTM 2024 2025 2026+ Note: All projections based o
Slide 13: 2024 Financial Guidance Update
2024 Financial Guidance Update As of July 25, 2024 As of October 24, 2024 Better/Worse Total Revenue $5,550 - $5,650 $5,550 - $5,600 (1) Adjusted EBITDA $2,800 - $2,900 $2,925 - $2,975 Rental Rates on Renewals (Cash) 5.0% - 7.0% 8.0% - 10.0% Year-End Portfolio Occupancy +100 – 200 bps +150 – 200 bps
Slide 14: Q&A
Q&A Global. Connected. Sustainable. 3Q24 Financial Results 14
Slide 15: Positioned for Long-Term Sustainable Growth
Positioned for Long-Term Sustainable Growth PlatformDIGITAL® is the Choice for AI, Cloud and Hybrid IT Strengthening Innovating Diversifying Customer and and Bolstering Value Integrating Capital Proposition Sources • Record Leasing Across Product • Acquired Highly Connected Campus • Raised €850 Mill
Slide 16: Appendix
Appendix 3Q24 Financial Results 16
Slide 17: Management Statements on Non-GAAP Measures
Appendix Management Statements on Non-GAAP Measures 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 measures
Slide 18: Forward-Looking Statements
Appendix Forward-Looking Statements 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 outcomes an
Slide 19: Reconciliation of Non-GAAP Items
Reconciliation of Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Net Income Available to Common Stockholders to Funds From Operations (FFO) Non-GAAP Items (in thousands, except per share and unit data) (unaudited) Three Months Ended To Their Closest GAAP September 30, 2024 September 3
Slide 20: Reconciliation of Non-GAAP Items
Reconciliation of Non-GAAP Items Digital Realty Trust, Inc. and Subsidiaries Reconciliation of Funds From Operations (FFO) to Core Funds From Operations (CFFO) To Their Closest GAAP (in thousands, except per share and unit data) (unaudited) Equivalent Three Months Ended September 30, 2024 September
Slide 21: Thank you
r Thank you FN DIGITAL Lv REALTY.