OVHcloud: share slumps as growth set to slow
(CercleFinance.com) - OVHcloud announced on Wednesday that it expects growth to slow in the current financial year, causing the share price to fall sharply in early trading in Paris.
This morning, the cloud specialist reported sales of E897m for 2022/2023, ended September, up 13.4% LFL.
For FY 2023/2024, OVH said that it is targeting organic sales growth of 11% to 13%, i.e. a y-o-y deceleration.
In the year under review, adjusted Ebitda rose by almost 6% from 2022, to E325.5m, i.e. a margin of 36.3%.
However, its net loss increased to E40.3m over the full year, compared with a net loss of E28.6m in 2021/2022.
For 2024/2025, it expects organic sales growth to improve from 2023/2024, with an adjusted Ebitda margin higher than in 2023/2024.
Following these announcements, the share price fell by over 9% early on Wednesday morning on Euronext Paris. The share has lost over 2/3 of its value since its October 2021 IPO, from an initial price of E18.5.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
This morning, the cloud specialist reported sales of E897m for 2022/2023, ended September, up 13.4% LFL.
For FY 2023/2024, OVH said that it is targeting organic sales growth of 11% to 13%, i.e. a y-o-y deceleration.
In the year under review, adjusted Ebitda rose by almost 6% from 2022, to E325.5m, i.e. a margin of 36.3%.
However, its net loss increased to E40.3m over the full year, compared with a net loss of E28.6m in 2021/2022.
For 2024/2025, it expects organic sales growth to improve from 2023/2024, with an adjusted Ebitda margin higher than in 2023/2024.
Following these announcements, the share price fell by over 9% early on Wednesday morning on Euronext Paris. The share has lost over 2/3 of its value since its October 2021 IPO, from an initial price of E18.5.
Copyright (c) 2023 CercleFinance.com. All rights reserved.