NEXTDC (NXT) H1 2025 earnings summary

Executive summary

• Net revenue for 1H25 grew 13% year-over-year to A$167.8 million, driven by increased billing capacity and strong contracted utilisation.

• Underlying EBITDA rose 3% to A$105.4 million, reflecting operational leverage and continued investment in expansion.

• Contracted utilisation increased 18% to 176MW, with a forward order book of 83MW supporting future growth through FY29.

• Expanded data centre footprint with new capacity in Sydney, Melbourne, Brisbane, and new sites in Adelaide, Darwin, Kuala Lumpur, and Auckland.

• Maintained 100% uptime and ISO 9001/27001 certifications across the national network.

Financial highlights

• Net revenue up 13% year-over-year to A$167.8 million; total revenue decreased 2% to A$205.5 million.

• Underlying EBITDA increased 3% to A$105.4 million; reported EBITDA was A$96.3 million.

• Net loss after tax widened to A$42.7 million from A$21.5 million in 1H24, impacted by higher operating and facility costs.

• Liquidity (cash and undrawn senior debt) stood at A$2.5 billion at period end.

• Total assets reached A$5.2 billion, with property (land and buildings) valued at A$3.1 billion.

Outlook and guidance

• FY25 guidance reaffirmed: net revenue A$340–350 million, underlying EBITDA A$210–220 million, capex A$1.3–1.5 billion.

• 83MW forward order book expected to convert to revenue through FY29, underpinning long-term growth.

• Operating leverage and scalable growth expected as new capacity comes online and investments in technology and customer experience continue.