NEXTDC beats expectations, cashed-up and ready for growth
Data centre company NEXTDC has reported a $25 million loss despite lifting revenue and its underlying earnings.
The Brisbane-based company said its revenue was up 25 per cent to $362 million, slightly above its guidance as was its earnings before interest, tax depreciation and amortisation (EBITDA) which hit $24.6 million, a rise of 15 per cent.
In its guidance, NEXTDX said revenue for the 2024 year was expected to be between $400 million and $415 million and underlying EBITDA would be between $190 million and $200 million.
It currently has liquidity if $2.3 billion and cash of $766 million.
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The company said it was expecting another record year of contract wins. Margins were also expected to expand.
āThe forward order book of 44.5MW is projected to convert into revenues by the end of 2024 and then ramp up over 2025 to 2029,ā the company said.
Managing director Craig Scroggie said it was a record result and the company was accelerating its development activities to grow inventory.
āWith liquidity of approximately $2.3 billion, NEXTDC is exiting 2023 in a strong financial position to be able to take advantage of opportunities presented by the exponential tailwinds of enterprise modernisation and cloud computing, in addition to the unprecedented acceleration of AI-driven applications driving one of the most powerful computational transformations of our lifetime.ā
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