OVHcloud continues to grow and shows an optimistic outlook for its 2022 results. The French cloud giant yesterday published its results for the first half of the year, which ended on February 28, 2022: it shows a turnover estimated at 382 million euros, compared to 334 million euros for the 1er half of 2021, an increase of 13.3% “like for like”. This method of calculation takes into account a constant exchange rate and scope, excluding the impacts related to the fire at its Strasbourg data center in order to be able to compare the two semesters.
“OVHcloud recorded a net loss of 26 million euros, compared to 7 million euros for the first half of 2021”, indicates the group, before detailing the main factors which pulled down the balance sheet: “the impacts resulting from charges related to the IPO, recent acquisitions and the fire in Strasbourg weighed for 41 million euros in the first half of 2022”.
The group is therefore posting good results, but remains in deficit, due to the impact of these various events.
France remains the leading market
OVHcloud’s good results are mainly driven by its private cloud activity, which generates revenue of 233 million euros, compared to 201 million in 2021. The public cloud is also showing definite growth while remaining in second plan, with 60 million euros in revenue, compared to 48 million in 2021. Finally, the rest of the group’s activities represent 90 million euros in revenue.
France remains the leading market for OVHcloud, which generates 190 million euros in turnover on national territory, followed by Europe where the Roubais-based company totals 109 million euros. But the most significant growth for OVHcloud is in the rest of the world: 83 million euros in turnover, against 60 million the previous year. Growth mainly driven by the American market, but also the Asian market.
The group’s results also evoke the situation in Ukraine by adopting a reassuring point of view: OVHcloud’s turnover in Ukraine, Russia and Belarus represents only 1.5% of the total, and the company has no installed or employed in this area, and does not use any service provider based in one of these three countries.