Slide 1: Q2 2024 Results Presentation
Q2 2024 Results Presentation 06 August, 2024 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. Actual results may differ from those set forth in the forward-looking whatsoever for any errors or omissions or any loss howsoever arising, The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, statements as a result of v
Slide 3: Agenda
1 Vision and strategy Agenda 2 H1 highlights and performance H2 financial outlook and 3 strategic update 3
Slide 4: Our vision
Our vision 4
Slide 5: Our foundations for success: leading the market
Our foundations the market Leading Exploding Universal need Adoption of digital Generative for data center assets AI Market capacity How we deliver success Commercial Industry Growth State of the art Specialized clarity expertise capital technology partners Diversification and A business portfolio l
Slide 6: Our path forward
Our path forward Execution Acceleration Expansion 2024 2025 2026 • Deliver solid financial • Grow capacity, footprint • Exponentially scale our industry- performance while making and market share with leading technology and strategic investments to drive NVIDIA Blackwell innovation to deliver long-t
Slide 7: H1 highlights and performance
H1 highlights and performance 7
Slide 8: 2024 highlights so far
2024 highlights so far 12,000 NVIDIA H100 Tensor Core GPUs deployed Customers begin onboarding to H100 Customer ecosystem NVIDIA H200 Deployment of Tensor Core GPUs Storage Services Selected as Partner for acquisition NVIDIA Blackwell Partnership with VAST Data Tech platform AI Accelerator Replaceme
Slide 9: Deployment remains on track
Deployment remains on track Driving financial success → Cloud revenue growing as more GPUs deployed → Customers being continuously onboarded*, providing sustainable foundation for growth with strong demand for NVIDIA architecture → New technology added – NVIDIA H200 Tensor Core GPUs deployed by year
Slide 10: Financial Performance
ily Financial Performance
Slide 11: Growth in Cloud Drives Q2 Revenue Mix
Growth in Cloud Drives Q2 Revenue Mix Cloud Mining Group 7 12 56% 22 14 29 26 QoQ in EUR m in EUR m Q1 Q2 Q1 Q2 Q1 Q2 Break even adjusted EBITDA in H1 Note: Q1, Q2 2024 unaudited. 11
Slide 12: Revenue evolving to high margin Cloud
Revenue evolving to high margin Cloud Mining Cloud Colocation 2% 5% 26% 20% 38% 46% 54% 60% 74% 75% Q1 2024U Q2 2024U FY 2024E FY 2025P Note: Q1, Q2 2024 unaudited. 2024 expected, 2025 predicted 12
Slide 13: On track for 2024
On track for 2024 Revenue Adjusted EBITDA 250 200 FY 2024E 150 Revenue in EUR m of EUR 200–240 m 100 Adj. EBITDA 50 of EUR 50–80 m 0 Q1U Q2U Q3E Q4E FYE -50 Note: Q1, Q2 2024 unaudited. Q3, Q4, FY estimate. 13
Slide 14: Cash Position in 2024
Cash Position in 2024 H1 2024U EUR m FY2024E EUR m 100–200 14
Slide 15: Group positioned to achieve €500M+ Revenue in 2025
Group positioned to achieve €500M+ Revenue in 2025 Revenue (EURm) Adjusted EBITDA1 (EURm) 520–570 300–350 200–240 193 77.5 50–80 42 -5.5 FY2022A FY2023A FY2024E FY2025P Note: 2022 audited, 2023 audited, 2024 estimate, 2025 potential. Depending on assumptions of BTC price, hashrate developments and p
Slide 16: H2 2024 and beyond
H2 2024 and beyond 16
Slide 17: H2 operational priorities
17 19 August 2024 H2 operational priorities Cloud Data Centers Mining • Completion of NVIDIA H100 • Pittsburgh upgrade to • New mining sites on track Tensor Core GPU 20MW for 7.9Ehs by deployment year-end • Sweden upgraded to house • Continued client onboarding new NVIDIA H100 Tensor • Full fleet re
Slide 18: Looking to 2025 and beyond
Looking to 2025 and beyond Optimising our offering to bring power and capacity to the market: → One of just 11 sovereign AI clouds, globally, to be selected by NVIDIA to provide Grace Blackwell-based cloud services and infrastructure → Grace Blackwell key to our proposition, as the market expands to
Slide 19: Roadmap to success
Roadmap to success A defined technology strategy to create leading high-performance compute Defined Strategy solutions Success Factors Demonstrated delivery against our roadmap Future Strong partnerships and wise capital allocation ensure further growth Growth Financial Strong execution has translat
Slide 20: Q&A
Q&A 20