NEXTDC (ASX:NXT) increases customer utilisation

Company News

by Lauren Evans

NEXTDC (ASX:NXT) has increased contract utilisation by 5.5 megawatts since June 30 last year following increased customer wins.

The data operator said most revenue from new contracts is expected to be recognised from FY23 following completion and commissioning of the associated data halls.

“The demand for our premium data centre services remains strong and we are pleased to have secured these new material customer commitments, including new hyperscale orders, across our national network of world class facilities," said chief executive officer Craig Scroggie. 

"Furthermore, the sales pipeline remains robust, with the Company seeing the strong sales momentum carry forward into the second half of FY22."

“While the timing of larger contract wins often remains variable between reporting periods, NEXTDC also continues to ramp up its investment in the underlying digital infrastructure that will support the new contracted capacity that in turn will generate annuity style economic returns over the long term for shareholders."

Shares in NEXTDC (ASX:NXT) are trading 1.8 per cent higher at $10.58. 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.