PARIS (Agefi-Dow Jones)–Cloud computing services specialist OVHcloud on Thursday raised its revenue growth forecast for the fiscal year ending August 31, 2022, after recording a sharp increase of its revenues and results in the first half.
Over the period from September 2021 to February 2022, OVHcloud generated revenue of 382 million euros, up 14.3%. Half-year sales of the group founded by Octave Klaba increased by 13.3% like-for-like, i.e. at constant exchange rates and scope excluding direct impacts related to the fire that occurred in March 2021 in a group data center located in Strasbourg. . In the first quarter, the group’s turnover had increased by 13.5% on a like-for-like basis.
“Based on the growth recorded in the first half of the year and sustained commercial momentum, OVHcloud is raising its revenue growth target” for the 2021-2022 financial year, the group said in a press release. For the period, managers now anticipate an increase in sales of between 15% and 17% on a like-for-like basis, whereas they previously forecast an increase of between 12.5% and 15%.
In the first half of the 2021-2022 financial year, the group’s adjusted gross operating profit (EBITDA) reached 153 million euros, up 11% year-on-year and representing 40.1% of sales. In the same period of the previous year, the adjusted EBITDA margin was 41.3%. For the whole of the 2021-2022 financial year, OVHcloud still expects its adjusted EBITDA margin to be around 40%.
“The first-half results demonstrate OVHcloud’s ability to deliver a robust, sustainable and profitable growth acceleration strategy,” said Michel Paulin, CEO of OVHcloud, quoted in a press release. “Building on this performance, we are entering the second half with confidence,” added the manager.
OVHcloud joined the Paris Stock Exchange on October 15, before joining the SBF 120 index on December 20. On Wednesday evening, the stock closed down 1.9% to 22.01 euros. Compared to the price of 18.50 euros retained for its entry on Euronext Paris, the title gained 19%, showing a capitalization of 4.19 billion euros.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: VLV
OVHCLOUD FINANCIAL RELEASES:
https://corporate.ovhcloud.com/fr/investor-relations/financial-results/
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
April 14, 2022 01:26 ET (05:26 GMT)