This article is from the Australian Property Journal archive
DATA centre operator NextDC booked a 31% increase in first-half revenue as it continued to build up the capacity of its facilities amid the adoption of generative AI.
Total revenue came in at $209.1 million for the half, with net revenue lifting 8% to $149.1 million, positively impacted by higher power prices and related power passthrough revenues.
Underlying EBITDA increased 5% to $102 million.
NextDC invested $220 million to progress capital development projects, with an increase of four megawatts of built capacity added to S3 Sydney, with 20 megawatts in progress and a further 20 megawatts of capacity now in planning.
M2 Melbourne added three megawatts of built capacity, with 12 megawatts in progress and a further 15 megawatts in planning
Development works continue for new regions Adelaide, Darwin and Newman, with Adelaide
expected to open to customers in the first half of 2025.
Port Hedland opened to customers with 0.5 megawatts of built capacity.
Capital expenditure is forecast to be in the range of $850 million to $900 million over the full year.
“The company remains well capitalised to take advantage of its strong forward sales pipeline as well as continue to build its forward sales and earnings outlook,” said NextDC CEO and managing director, Craig Scroggie.
“As demand continues to be bolstered by the broad adoption of new technologies such as generative AI, the business remains in an outstanding position to support customer growth requirements across the enterprise, government and hyperscale verticals.”
Customer numbers were up 13% to 1,919.
NextDC reaffirmed its total revenue forecast in the range of $400 million to $415 million, net revenue in the range of $296 million to $304 million, and uplift of 6% to 9%.
Underlying EBITDA is expected to be in the range of $190 million to $200 million.
