Digital Realty Trust, Inc. · NYSE:DLR
Digital Realty Trust — Q4 2013 Earnings Presentation
22 slides from Digital Realty Trust's earnings presentation, Feb 25, 2014
Slide 1: 4Q13 Earnings Conference Call Presentation
Exhibit 99.1 4Q13 EARNINGS February Exhibit 99.1 25, 2014 CONFERENCE CALL PRESENTATION
Slide 2: 4Q13 Lease Signings Activity
4Q13 The Turn-Key Powered Custom Colocation Non-Technical $Total 1Q07 $60 1)inGAAP millions fourth 469,337 Leasing 2Q07 Solutions Base rental Flex® quarter 41,429 3Q07 Historical $115 Activity(1) Building® 57,460 revenues 320,323 15,320 4Q07 of $185 $54.2 2013 $29 Signings $7.7 1Q08 include $139 $13
Slide 3: Historical Lease Signings
G DIGITAL REALTY Historical Lease Signings Data Center Solutions Full-year 2013 lease-signings were likewise an all-time high GAAP Annualized Base Rent $ in millions | TKF @ PBB @ Custom Solutions @ DC Master Lease Colo @ Non-Tech $200 $161 $150 $137 112 $112 $ $106 $100 $64 $56 $50 $o 2007 2008 200
Slide 4: 4Q13 Renewal Activity
4Q13 Renewal Signed Rental 3Renewed rates $22 73,000 75,000 million on Activity renewals square of renewal feet increased ofleases Turn- Powered by Key 3.6% Base Flex (cash) Building® ® data and centers 18.9% data (GAAP) centers with rental with forrate total rental increases data ratecenter increas
Slide 5: Backlog Waterfall
$386.7 Backlog Roughly The Expected Acq 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 Signing 3Q13 4Q13 average &Amounts 1Q12 $53.0 $17.8 $32.1 $27.0 $28.8 $43.7 $47.3 $54.2 aPre Backlog: 1) Note: Quarter Waterfall estimates. On $22.1 45% Commencement 4Q11 2Q12 $1.3 $.0 sign of$25.4 $2.2 $.0 2Q13 leases $12.7 $66.8
Slide 6: 4Q13 Annualized Consolidated NOI
4Q13 Annualized consolidated 1) 2) 3) four. 4) 5) 6) 7) 8) 9) Amounts Adjustment Annualized Incremental Chart NOI Recognized Annualized 4Q13 isassumes a non-GAAP NOI, run-rate in(3) NOI to 4Q13 portion NOI JV results annualize reflect adjustments norelated NOI(carryover) from 4Q13 impact NOI of fina
Slide 7: Data Center Global Business Growth
Data Center Global business consumer Growth spending spending Forecast for oninfrastructure digital games,and apps, services and online related movies to the passed cloud will $57reach billion$174 in 2013, billion upinalmost 2014,30 a 20% percent increase from from $44 billion 2013(1)in 2012(2)
Slide 8: 3Q13 U.S. Major Market Data Center Supply
78 3Q13 U.S. Major Market Data Center Supply
Slide 9: 2014 Shareholder-Friendly Compensation Plan
2014 of Shareholder-friendly [Graphic More Incentivizes Fosters Total Three-year 950% Long-Term shareholder closely athe Appears culture performance shares the aligns creation of Incentive return Here] that ownership management’s compensation meet measured measurement of Compensation sustainable, th
Slide 10: 2014 Long-Term Incentive Compensation Plan
G DIGITAL REALTY 2014 Long-Term Incentive Compensation Plan Data Center Solutions Shareholder-friendly compensation plan linked to relative total shareholder return MSCI Index Relative 0 bps 325 bps +650 bps Performance Performance 25% 50% 100% Vesting Percentage = More closely aligns management's i
Slide 11: Dividend History and 2014E
2005 $0.00 1) 11 2014E 2006dividend 2007 2008 is based 2009 on 2010 board 2011approved 2012 2013 dividend 2014E(1) as of February 11, 2014.
Slide 12: 4Q13 Acquisition and Joint Venture
4Q13Rate Market Property Acquisition Purchase Size Occupancy Tenant Remaining Lease Term 2014 Cap Estimated Subsequent contribute Joint venture Pre-payment Ownership: Expected Contribution return Benefits 12 108,336 Venture Cash Acquisition Type on AA-rated New Type 636 Price Digital 8.0% tothe NOI
Slide 13: Core FFO Guidance
$Core FY Guidance adjustment Delayed NOI $2M GBP 134.80 0.01 0.02 0.04 4.70 4.67 ‘13 bonus deferred + FFO $0.01 3.8%; Core GBP preferred per (2) reduction $4.78 FFO—Lower EUR tax bond: share benefit +2.4% dividend +$1.5M; $1.5M; related interest (1) G&A delayed accrual to and abonus reduction prefer
Slide 14: Improved Supplemental Disclosure
Improved Supplemental Disclosure 14
Slide 15: Improved Supplemental Disclosure: Asset Utilization
DIGI G TAL REALTY Data Cente Improved Supplemental Disclosure MPROVED ASSET UTILIZATION
Slide 16: Forward-Looking Statements
Forward The Such availability acquisitions stabilization with rates; cost expansion development rental meet projected rights forward-looking the subject actual downgrade recession; significant increased ratings effectively; center of successfully comply activities; ownership exhaustive, filings resp
Slide 17: Definitions
Definitions The calculation any Funds accordance adjustments losses rental REITs. capitalized operations, REITs’ Adjusted operating REITs, (iv) leasing AFFO Core We when transaction of consistent CFFO Net NOI commonly below commissions measures cash 17 these calculate present non-cash other Operatin
Slide 18: Definitions
Definitions Earnings We investors periods, attributable frequently and is EBITDA. Each CFFO, 18 limited. believe income ofAFFO, FFO, gain Before to Accordingly, Other used that of to taxes, view in CFFO, prior Non–GAAP NOI, by connection earnings Interest REITs our exclude securities periods, Cash A
Slide 19: Reconciliation of Non-GAAP Items
(1) Digital Reconciliation (in Three (unaudited) December Net Noncontrolling Adjustments: Real unconsolidated Gain FFO Weighted Basic Diluted thousands, income estate available on FFO 130,982 Months Realty FFO (2) Depreciation $Non-real (2) weighted stock, applicable, described 2013 the contribution
Slide 20: Reconciliation of Non-GAAP Items
Digital Reconciliation (in Three (unaudited) December Operating Fee Construction Depreciation General Transactions Other 4Q13 A Net Low—High Real Add: Dilutive Gain Less: Adjustments Projected 20 reconciliation thousands) income(1,315) Operating income estate from Annualized expenses Months Realty a
Slide 21: Reconciliation of Non-GAAP Items to Closest GAAP Equivalent
“ Reconciliation of Non-GAAP Items to Their Closest DIGITAL REALTY GAAP Equivalent Data Center Solutions Digital Realty Trust, Inc. and Subsidiaries A reconciliation of the range of 2013 projected net income to projected FFO and core FFO follows: of Operating Income to Net Operating Income (NOT) {in
Slide 22: Digital Realty
DIGITAL REALTY Data Center Solutions