Equinix — Apr 30, 2025 release

AFFO per share is expected to range between $37.36 and $38.17, an increase of 7 - 9% over the previous year on both an as-reported and a normalized and constant currency basis. Total capital expenditures are expected to range between $3.426 and $3.676 billion. Non-recurring capital expenditures, including xScale-related capital expenditures, are expected to range between $3.168 and $3.398 billion, and recurring capital expenditures are expected to range between $258 and $278 million. The U.S. dollar exchange rates used for 2025 guidance, taking into consideration the impact of our current foreign currency hedges, have been updated to $1.11 to the Euro, $1.28 to the British Pound, S$1.32 to the U.S. Dollar, ¥143 to the U.S. Dollar, A$1.58 to the U.S. Dollar, HK$7.76 to the U.S. Dollar, R$5.89 to the U.S. Dollar and C$1.40 to the U.S. Dollar. The Q1 2025 global revenue breakdown by currency for the Euro, British Pound, Singapore Dollar, Japanese Yen, Australian Dollar, Hong Kong Dollar, Brazilian Real and Canadian Dollar is 19%, 10%, 8%, 5%, 4%, 3%, 2% and 2%, respectively. The adjusted EBITDA guidance is based on the revenue guidance less our expectations of cash cost of revenues and cash operating expenses. The AFFO guidance is based on the adjusted EBITDA guidance less our expectations of net interest expense, an installation revenue adjustment, a straight-line rent expense adjustment, a contract cost adjustment, amortization of defer