Nextdc Ltd (ASX: NXT) released its 2018 financial results to the market today revealing a 31% rise in continuing revenue.
Nextdc is a data centre operator with several locations spread across the country.
Here are some of the highlights from its report:
- Total revenue from continuing operations increased by 31% to $161.5 million
- Underlying EBITDA grew by 28% to $62.6 million (click here to learn what EBITDA means)
- Net profit down 71% to $6.6 million – FY17 included a $10.2 million income tax benefit
According to Bell Potter, analysts were expecting NextDC to report a profit of $11 million, which was close to the company’s profit before tax of $10.9 million. The result appears to be under expectations, but beat the company’s own guidance.
In FY19 Nextdc is predicting revenue growth of between 20% to 24%, with a 37% increase in cross connects. Management also guided that underlying EBITDA would grow by $75 million to $80 million.
CEO Mr Scroggie said: “We’re very pleased to report today’s results, with the Company achieving FY18 revenue and EBITDA above the top end of its upgraded guidance range. These results demonstrate NEXTDC’s continued strong growth”.
The Nextdc share price is up 0.5% in morning trade according to Google Finance.
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