NextDC widens half-year loss, reaffirms guidance
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The news: Data centre operator NextDC widened its first-half loss amid ongoing investment in capacity but reaffirmed its full-year revenue and earnings guidance.
The numbers: The company reported a net loss of $42.7 million for the six months to December, compared to a $21.5 million loss a year ago. Net revenue was up 13% to $167.8 million. Underlying earnings were up 3% from a year ago to $105.4 million.
The context: NextDC attributed the wider loss to a write-off relating to unamortised transaction costs after switching to a new syndicated debt agreement during the half year. The group said it invested $1 billion to progress capital development projects, while contracted utilisation increased by 27 megawatts to 176 MW. The company holds a forward order book for 83 MW.
It also reaffirmed guidance for underlying earnings between $210 million and $220 million in fiscal 2025.
What they said: “With continued operational momentum, we expect to deliver another strong operating and financial performance in FY25,” CEO Craig Scroggie said.
The source: ASX
