OVHcloud meets 2026 targets, posts first positive cash flow since IPO
FILE PHOTO: The logo of French cloud computing company OVHcloud is seen on the company’s building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier/File Photo
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Oct 20 : French cloud operator OVHcloud said on Tuesday its revenue rose 7.2 per cent to €1.15 billion ($1.29 billion) in the year to August 31, and that it posted its first positive levered free cash flow since its 2021 listing.
The milestone means the French group now covers its heavy capital spending from its own operations, after five years of losses on cash generation since the listing. It also forecast growth above 10 per cent for fiscal 2027, up from 7.2 per cent this year.
• Levered free cash flow reached €24.7 million, against a negative €27.0 million a year earlier.
• Adjusted EBITDA rose 9.7 per cent to €480.5 million, a margin of 42.0 per cent, while Public cloud revenue rose 18.9 per cent to €255.1 million.
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• CEO Octave Klaba said the year had been one of “discipline” and that the group had “returned to its fundamentals”.
• For fiscal 2027, the company targets comparable growth above 10 per cent, an adjusted EBITDA margin above 42.5 per cent and positive levered free cash flow.
($1 = 0.8904 euros)
Source: Reuters
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