Will NEXTDC (ASX: NXT) be able to turn corners in FY24 with increasing clients?

Tue 30 Jul 24, 02:44 AM | Team Kalkine

Image source: Shutterstock.com

Highlights

NEXTDC is an ASX-listed Data Centre-as-a-Service provider

In 1HFY24, NXT’s revenue increased by 7.73% YoY to AUD 149.10 million

AustralianSuper has highest stake in NXT with a shareholding of ~6.03%

NEXTDC Limited (ASX: NXT) is an Australia-based technology company, engaged in the development and operation of independent data centres in the Asia Pacific region. The company delivers security, critical power and connectivity for international cloud computing providers, government entities and enterprises.

In the first half of the financial year 2024 (1HFY24), the company recorded 7.73% YoY rise in the revenue to AUD 149.10 million, backed by surge in billing capacity. Meanwhile, underlying EBITDA jumped 4.62% to AUD 102 million, supported by higher utilisation rate.

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