NextDC reports record contracted sales, revenue surge
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The news: Data centre operator NextDC reported a 6% improvement in underlying EBITDA to $216.7 million in FY25 as net revenue exceeded guidance.
The numbers: The company saw net revenue climb 14% year on year to $350.2 million, ahead of FY25 guidance, and posted a record level of new contracted sales (72.2MW) during FY25, including its first 10MW foundational hyperscale order at KL1 Kuala Lumpur.
The company reported a net loss of $60.5 million, a $16.4 million increase in loss from the year prior.
The context: NextDC said that subsequent to year end, the company secured new senior debt facilities totalling $3.5 billion, increasing the company’s senior debt facilities to $6.4 billion, providing pro forma liquidity of $5.5 billion as at 30 June 2025. NextDC said the company’s balance sheet is underpinned by approximately $5.7 billion in total assets.
In June, the company announced it would issue an additional $2.2 billion in senior debt facilities to a syndicate of six multinational banks. The company said the funds will “primarily support capital expenditure requirements associated with recent customer contract wins and ongoing data centre developments”.
NextDC expects to see FY25’s recent sales convert to revenue and earnings as the company delivers on over 100MW of expansion capacity and looks into new market opportunities. The company expects net revenue in the range of $390-$400 million for FY26, stronger than the $350.2 million achieved in FY25.
It expects FY26 underlying EBITDA to come in between $230 million and $240 million as previous investment in its data centre expansion are on track to deliver capacity in line with customer commitments.
NextDC set capital expenditure for FY26 to fall in the range of $1.8 billion to $2 billion.
No dividend has been proposed or declared in respect of the year ending 30 June 2025.
What they said: NextDC CEO and managing director Craig Scroggie said: “FY25 exceeded net revenue guidance and set to contracting records. Our Forward Order Book is greater than our entire billing footprint today, and with a strong liquidity position we are rapidly bringing capacity forward to turn contracted commitments into revenue and cash flow while scaling for extraordinary AI and cloud demand across Asia-Pacific.”
The source: NextDC results
