OVHcloud is in line with its objectives. The French flagship of cloud computing confirmed on Wednesday its objectives for its staggered fiscal year which will end on August 31, 2022 after having recorded a sharp increase in its revenues in the first quarter.
Over the period from September to November 2021, OVHcloud achieved a turnover of 187.2 million euros, up 13.9%. Quarterly sales of the group founded by Octave Klaba increased by 13.5% like-for-like (excluding the direct impacts related to the fire that occurred in March 2021 in a group data center located in Strasbourg).
“These results reflect the signing of major accounts, our ability to federate and extend our ecosystem of international partners, and the continued success of our international expansion, in Europe, but also in the United States and in Asia, ”said OVHcloud Director General Michel Paulin in a press release published on Wednesday. The latter indicated “to consider with confidence the continuation of the strategy [d’OVHcloud] to assert its European leadership, capitalize on the exponential growth of the cloud market and achieve its objectives throughout fiscal year 2022 ”.
New areas of concern
For the current financial year, the OVHcloud staff anticipates an increase in sales of between 12.5% and 15% on a like-for-like basis, as well as an adjusted EBITDA margin of close to 40%. As a reminder, OVHcloud’s turnover reached 663.3 million euros during the previous fiscal year, a performance up 12% over the year. Its adjusted gross operating profit (EBITDA) amounted to 262 million euros, representing 39.5% of sales.
A few months after its eventful listing on the Paris Stock Exchange, OVHcloud’s stock gained 32.3%, valuing the Roubaix-based group at 4.65 billion euros. If the lights therefore seem green for the group of Octave Klaba, there is no lack of concerns. Starting with the possible launch of a group action that could bring about fifty companies affected by the fire at the OVHcloud data center in Strasbourg last March.
As a reminder, the fire destroyed a significant part of the OVHcloud data center. The stricken five-story building contained more than 14,000 servers. The disaster resulted in the total or partial shutdown of 120,000 services, OVH said.