OVHcloud: growth set to slow, share price falls
This morning, the cloud specialist reported sales of 897 million euros for its 2022/2023 fiscal year, which ended in September, representing an increase of 13.4% on a like-for-like basis.
For the 2023/2024 fiscal year, OVH says it is targeting organic sales growth of between 11% and 13%, i.e. a deceleration year-on-year.
Over the past financial year, its adjusted Ebitda increased by almost 6% compared to 2022, to reach 325.5 million euros, representing a margin of 36.3%.
But its net loss increased to 40.3 million over the full financial year, compared to a net loss of 28.6 million euros in 2021/2022.
For the new financial year, the group says it anticipates an adjusted Ebitda margin of over 37%.
For the coming 2024/2025 financial year, it expects organic sales growth to improve on 2023/2024, with an adjusted Ebitda margin higher than in 2023/2024.
Following these announcements, the share price fell by more than 9% early Wednesday morning on Euronext Paris. The share has lost over 66% since its October 2021 IPO, marked by an opening price of 18.5 euros.
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