OVHcloud remains small compared to its American rivals. Their domination, however, does not prevent the French cloud company from developing. Its financial results for the 2023 fiscal year bear this out.
The supplier announces an annual turnover of 897 million euros, an increase of 13.4% over one year. The last quarter of its year 2023 was the most dynamic with 230 million euros in turnover and +14.5%.
80% of activity in the cloud
However, this increase is not only the result of winning over customers. OVHcloud “benefited from the full effect of price increases” over the period. Like its competitors, the cloud operator is raising prices.
Nevertheless, he has several reasons to be delighted with his results. It is particularly pleased with its results in the public cloud and private cloud segments, for which it recorded revenue growth of +21.0% and +15.1% respectively.
Over the period, OVHcloud also improved its profitability and productivity. The supplier highlights an improvement of 1.7 points in the EBITDA margin between the second and first half (to 37.1%).
The company explains this result by cost control and improved productivity. And to fuel its future growth, it is betting on the multiplication of offers. OVHcloud specifies that it now has nearly 40 new PaaS solutions available.
OVHcloud, French and international
This portfolio of services includes AI, data, storage, security, container technologies and also virtualization. Its growth will depend on its products, but also on its international performance. Today, France still accounts for almost 50% of its turnover: 49% precisely at 442.5 million euros.
To accentuate its internationalization, the northerner opened four new data centers in 2023. It has also established itself in a new market: India. Michel Paulin, the group’s general manager, draws a positive assessment of the year.
“OVHcloud’s very good results in 2023 demonstrate its ability to achieve sustained and sustainable growth. This performance is supported by the strong dynamism of our cloud activities, which now represent more than 80% of our activity. »
To continue on this trajectory, the manager sets two conditions: demonstrate selectivity in investments and capitalize on the dynamism of the cloud market. The development of the sector should not be called into question.
The “dominant trend of cloud adoption and usage” contributes to this. And “ongoing innovations in areas such as artificial intelligence and Data” are also fueling the growth of the cloud.