OVH GROUPE

OVH

Equity

ISIN FR0014005HJ9 / Valor 114137816

Euronext - Euronext Paris (2024-11-21)

EUR 8.30-1.83%

OVH GROUPE
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About company

OVH GROUPE, a global cloud services provider, operates with a focus on delivering a wide range of cloud solutions tailored to meet the growing needs of its clientele, which spans across 140 countries. The company boasts a robust infrastructure, including over 450,000 servers within 37 data centers spread across four continents, underpinning its commitment to providing scalable, reliable, and cost-effective cloud services. OVH GROUPE's offerings are segmented into four main cloud universes: Bare Metal Cloud, Hosted Private Cloud, Public Cloud, and Web Cloud, each designed to cater to different aspects of digital and cloud computing needs, from web hosting and data storage to complex cloud-based application environments. The company emphasizes the importance of data sovereignty, ensuring that its solutions uphold the highest standards of security and compliance, thereby addressing the critical requirements of its diverse customer base.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

OVH GROUPE reported a revenue of €251 million for Q3 FY2024, marking a 10.1% increase compared to the same quarter in the previous year. On a like-for-like basis, the revenue growth was 9.0%. This growth was driven by strong performance in both the Public Cloud and Private Cloud segments, which saw like-for-like growth rates of 11.9% and 10.7%, respectively.

Segment Performance

The Private Cloud segment, which includes Bare Metal Cloud and Hosted Private Cloud, posted a revenue of €157.6 million in Q3 FY2024, up 11.0% as reported and 10.7% like-for-like. The Public Cloud segment also showed robust growth, with revenue increasing by 16.6% as reported and 11.9% like-for-like, reaching €46.0 million. The Web Cloud & Other segment saw a modest increase of 1.5% as reported and 1.2% like-for-like, totaling €47.3 million.

Geographical Performance

Revenue in France reached €121.6 million in Q3 FY2024, accounting for 49% of OVH GROUPE's total revenue. Other European countries contributed €73.2 million, showing a 12.4% increase as reported and 8.6% like-for-like. The Rest of the World segment, which includes the United States, posted a revenue of €56.0 million, up 11.9% as reported and like-for-like.

Annual and Medium-Term Outlook

OVH GROUPE confirmed its annual targets for FY2024, expecting organic revenue growth between 9% and 10% and an adjusted EBITDA margin of over 37%. The company also aims to maintain recurring capex between 12% and 14% of revenue and growth capex between 21% and 23% of revenue. The medium-term outlook remains positive, with expectations of achieving positive Free Cash-Flow by FY2026.

International Expansion

OVH GROUPE continued its international expansion by opening a new datacenter in Sydney, Australia, to meet the growing demand in the Asia-Pacific region. The company also deployed eight Local Zones in various locations, including Brussels, Madrid, and Milan, to enhance its geographical reach with reduced capital intensity. The United States showed strong growth, particularly in the Private Cloud segment, driven by high demand from tech companies.

Summarized from source with an LLMView Source

Key figures

7.30%1Y

-60.3%3Y

%5Y

Performance

54.6%1Y

48.8%3Y

49.1%5Y

Volatility