OVHcloud: FY results top target range
(CercleFinance.com) - On Tuesday the cloud computing company OVHcloud announced 2020/21 revenues of 663 million euros and an adjusted Ebitda of 262 million euros at its first results publication since its IPO last month, figures that are at the top end of the target range set by the group.
Reported consolidated revenue increased by 5% relative to 2019/2020, or 12% LFL growth.
This performance - which is at the top end of the range - reflects the group's "good commercial performance", according to the cloud specialist.
Over the past year, adjusted Ebitda - the group's main performance indicator - rose by 15% to 262 million euros, corresponding to a margin of 39.5%, which is also at the top end of the estimated range of 38% to 40%.
However, at the bottom line, the group posted a loss of 32 million euros,
compared to a loss of 11 million euros the previous financial year.
For FY 2021/2022, OVHcloud says it expects revenue growth to be in the upper half of the target range of 10% to 15% initially set on its IPO.
The group is also targeting an adjusted Ebitda margin of around 40%, taking into account a level of inflation similar to that of the previous financial year.
On the Paris stock exchange, OVHcloud shares were up 1.5% in early trading, following this publication, outperforming a Paris market (up by around 0.2%).
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