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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.

Loss after tax increased from AUD 2.80 million in 1HFY23 to AUD 22.50 million in 1HFY24 because of increase in corporate costs due to higher headcount and system investment to boost and support new site expansion and customer delivery capability.

Top ten shareholders of NXT

The top ten shareholders of NXT have ~31.30% shareholding in the firm, while the top four have nearly 18.73% of the shareholding. AustralianSuper, and The Vanguard Group, Inc. have the maximum stake in the firm with a shareholding of ~6.03% and ~4.31%, respectively.

Outlook

In FY24, the company expects total revenue to be in range of AUD 400-415 million and net revenue to be between AUD 296-304 million, a growth of 6-9% over previous corresponding period.

Meanwhile, underlying EBITDA is projected to reach AUD 190-200 million and capital expenditure is forecasted to be between AUD 850-900 million.

The company plans to invest in system upgrades and capacity expansion.

Share performance of NXT

NXT shares closed 0.96% lower at AUD 16.53 apiece on 30 July 29024. NXT’s share price has increased by almost 31.12% in the past one year and in the last three months, it has dropped by 0.96%.

52-week high of NXT is AUD 18.58, recoded on 9 July 2024, while 52-week low is AUD 11.46, recorded on 26 October 2023.

NXT Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 30 July 2024. The reference data in this report has been partly sourced from REFINITIV.