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REAL ESTATE: DIGITAL REALTY (DLR: Baa2/BBB/BBB): Q4 & FY24

REAL ESTATE

Guidance was below expectations

  • FY Op Revenue $5.55bn +1.4% yoy; Q4 $1.43BN +4.8% yoy
  • Q4 Adj EBITDA $751m +7% yoy
  • NetDebt/Adj EBITDA 4.8x; ICR 4.2x
  • Guiding for 2025 Total Revenue $5.8-$5.9bn vs $6.11bn expected
  • 2025 Adj EBITDA $3.1-$3.2bn vs $3.17bn expected
  • Next 2 Maturities are EUR - July 25 & Jan 26; issued €850m 10yr in Jan
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Guidance was below expectations

  • FY Op Revenue $5.55bn +1.4% yoy; Q4 $1.43BN +4.8% yoy
  • Q4 Adj EBITDA $751m +7% yoy
  • NetDebt/Adj EBITDA 4.8x; ICR 4.2x
  • Guiding for 2025 Total Revenue $5.8-$5.9bn vs $6.11bn expected
  • 2025 Adj EBITDA $3.1-$3.2bn vs $3.17bn expected
  • Next 2 Maturities are EUR - July 25 & Jan 26; issued €850m 10yr in Jan