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How CyrusOne plans to scale up its European footprint

Matt Pullen, EVP and managing director for Europe at CyrusOne Inc. (NASDAQ: CONE), discusses how Europe's hosting monopoly is changing and how the business is building its footprint.

By João Marques Lima

Co-founder and Editor, The Tech Capital

3 Mins

August 04, 2021 | 5:38 PM BST

Data centre capacity across Europe’s main markets is set to grow 21% this year, adding 438MW. But what is driving this rapid expansion, and is it contained to just the big cities of Frankfurt, London, Amsterdam, Paris and Dublin (FLAP-D markets)?

Joining The Tech Capital’s João Marques Lima is Matt Pullen, EVP and managing director for Europe at CyrusOne Inc. (NASDAQ: CONE), to discuss how Europe’s hosting monopoly is changing and how the business is building its footprint.



CyrusOne recently reported its quarterly results, noting an 11% increase in revenues versus Q2 2020 to nearly US$285 million. The company operates data centre facilities in North America and Europe, with Frankfurt and London coming up as its two largest hard asset portfolios in the old continent.

The operator plans to open new facilities in London, Frankfurt and Paris before the end of 2021, as well as extra sites in the British capital and Frankfurt in 2022. CyrusOne also owns 61 acres which the company is land banking for future expansion across several markets in Europe.

In its latest expansion announcement, the REIT said it has purchase the freehold of a 5-acre site at a prime location in Alcobendas, Madrid, to build a new data centre facility designed to be a single two-story building with 21 MW of power capacity. This is the company’s first planned European facility beyond the FLAP-D markets.

Pullen explains how much the European portfolio weighs on CyrusOne’s overall books and how he expects that to change in the coming years with the several planned expansion. He also gives a rundown of not only how capital will be put to work in Europe, but also shares a glimpse of where the company is looking for heavy expansion, even beyond this region.

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João Marques Lima

Co-founder and Editor, The Tech Capital

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