Ovh Groupe Sas · EURONEXT:OVH
Ovh Groupe Sas — Ovh Groupe — FY2025 Earnings Presentation
31 slides from Ovh Groupe Sas's earnings presentation, Oct 21, 2025
Slide 1: FY25 Annual Results
FY25 Annual Results O c t o b e r 2 1 st, 2 0 2 5
Slide 2: Growing, Scaling, Launching
1 2 3 Growing Scaling Launching cloud market globally FY26-30 plan FY25 Results 2
Slide 3: Key Highlights
Key Highlights LFL revenue Adj. EBITDA Unlevered Capex growth margin FCF (as a % of revenue) FY25 guidance delivered +9.3% 40.4% €57.6m 33.3% ✔ €1bn revenue threshold crossed ✔ >€200m revenue from Corporate Go-to-market Significant milestones ✔ >€100m revenue in Public Cloud (Iaas & PaaS) Products a
Slide 4: Significant upside potential by scaling Corporate across Europe
Go-to-market Significant upside potential by scaling Corporate across Europe Corporate Revenue, in € million FY23-25 CAGR +x% +12.1% Reaching a milestone with 207 significant upside potential Successful playbook in France, which 187 165 represents 80% of Corporate revenue >€200m Upside potential by
Slide 5: Significant upside potential by increasing PaaS share of Public Cloud
Products Significant upside potential by increasing PaaS share of Public Cloud Public Cloud (IaaS & PaaS) Revenue, in € million FY23-25 CAGR +x% +28.6% Reaching a milestone with 131 significant upside potential PaaS ~20% of revenue Upside potential by increasing >€100m 100 79 PaaS to 50% of Public C
Slide 6: Significant upside potential by scaling Public Cloud in the US
Geographies Significant upside potential by scaling Public Cloud in the US United States Revenue, in € million FY23-25 CAGR +x% +20.3% Reaching a milestone with 102 significant upside potential Strong growth with 90% of revenue 85 generated by Private Cloud 71 >€100m Upside potential by scaling Publ
Slide 7: Strong margin and cash generation improvement since IPO
Financials Strong margin and cash generation improvement since IPO Adjusted EBITDA Unlevered Free-Cash Flow Adj. EBITDA, in € million Unlevered FCF, in € million Adj. EBITDA margin, in % of revenue 438 40.4% 382 58 39.5% 325 25 308 39.0% 262 38.4% -28 -75 36.3% -178 FY21 FY22 FY23 FY24 FY25 FY21 FY2
Slide 8: Major improvement on ROCE since IPO
Financials Major improvement on ROCE since IPO Return On Capital Employed +2.9pts 7.1% NOPAT Additional productivity headroom Capital 4.2% Action plans to reduce capital intensity 3.7% 3.3% Employed Value Further upside potential in the mid-term 0.6% Creation FY21 FY22 FY23 FY24 FY25 ROCE calculatio
Slide 9: Three main go-to-market to optimize growth strategy
Go-to-market Three main go-to-market to optimize growth strategy Digital Starters Digital Scalers Corporate +x% FY23-25 CAGR +4.6% +12.1% €571m +20.8% €307m €207m €522m €550m €187m €257m €165m €211m FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Digital go-to-market & Revenue < €25K ARR Digital go-to-
Slide 10: Focus on Digital Starters will boost growth
Go-to-market Focus on Digital Starters will boost growth Digital Starters +x% FY23-25 CAGR +4.6% €550m €571m €522m Upgrade customer support with AI-powered solutions Improve price positioning on entry-range Private Cloud and Public Cloud products FY23 FY24 FY25 Launch Webcloud solutions global
Slide 11: Unified leadership to align vision, strategy and execution
Unified leadership to align vision, strategy and execution Unified leadership: Octave Klaba is appointed as CEO Upcoming investor day CEO Chairman combination to drive and shape FY30 plan Reinforcing alignment between Strengthen growth profile Investor Day to be organized early vision, strateg
Slide 12: FY2026 Guidance
FY2026 Guidance Cash generative and profitable growth with disciplined capex policy FY2026 Guidance1 LFL Revenue growth +5-7% Adjusted EBITDA margin Above FY25 Capex (as a % of revenue) 30-32% Levered Free Cash Flow Positive FY25 Results 1. Based on a EUR/USD exchange rate assumption of 1.18. 12
Slide 13: FY25 Results
Wa OVHcloud FY25 Results
Slide 14: Q4 FY25 – Revenue by Products
Q4 FY25 – Revenue by Products Webcloud Public Cloud Private Cloud LFL +5.8% LFL +18.1% LFL +4.8% €44.3m €46.8m €39.7m €163.5m €168.0m €27.1m Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 Q4 FY24 Q4 FY25 High comparison basis and Domain Names: double-digit Strong ARPAC growth driven by Digital Starters impacted by
Slide 15: FY25 – Delivering profitable and cash generative growth
FY25 – Delivering profitable and cash generative growth Revenue Adj. EBITDA Capex Unlevered Free Cash-flow in € million in % of revenue / in € million in % of revenue / in € million in € million LFL +9.3% +€32.5m Reported +9.2% 437.8 361.4 57.6 1 084.6 -1.2 pts 993.1 343.1 +2.0 pts 34.5% 33.3% 381.5
Slide 16: +200bps Adj. EBITDA margin improvement and positive net income
+200bps Adj. EBITDA margin improvement and positive net income Var. FY25 vs In € million FY24 H1 FY25 H2 FY25 FY25 FY24 Revenue 993.1 536.0 548.6 1,084.6 +91.5 Margin improvement Gross margin 627.6 345.2 363.8 709.0 +81.4 In % of revenue 63.2% 64.4% 66.3% 65.4% +220bps Tight control over Operating
Slide 17: Positive Unlevered Free Cash Flow of €57.6m
Positive Unlevered Free Cash Flow of €57.6m Recurring Capex of 11.9% and Growth Capex of 21.4% (in % of revenue) Total Capex1 In % Revenue 437.8 33.3% (15.9) 1.0 (3.8) (128.9) 11.9% (232.5) 57.6 21.4% Adj. EBITDA Non recurring Change in WC Taxes Recurring Capex Growth Capex Unlevered FCF expenses FY
Slide 18: Disciplined capex policy, with on-going productivity gains
Disciplined capex policy, with on-going productivity gains Disciplined capex policy In % of revenue FY24 H1 FY25 H2 FY25 FY25 Hardware 16% 27% 16% 21% Fully revised supply chain processes, from (servers) suppliers’ relations to stock management €162m €145m €86m €231m 8% 3% 8% 5% Strong focus on
Slide 19: Successful refinancing with inaugural bond issuance and first Green Loan
Successful refinancing with inaugural bond issuance and first Green Loan Strong balance sheet No major debt repayment before FY2030 Main debt schedule, in €m, as of August 2025. ✔ Inaugural bond issuance 750 €500m at a fixed rate of 4.75%, maturing in FY31, rated BB- by S&P and Ba3 by Moody’s 200 ✔
Slide 20: Investor Day 2026
Wd OVHcloud Investor Day 2026
Slide 21: Lead the way as the champion in sovereign, sustainable and open cloud
Investor Day – 2026 Lead the way as the champion in sovereign, sustainable and open cloud Go-to-market Datacenters Public Cloud & AI ROCE Sovereignty Capital allocation Investor Day 21
Slide 22: Q&A
Wa OVHcloud Q&A
Slide 23: Key takeaways
Key takeaways Significant milestones Unified leadership: FY2026 Guidance achieved CEO Chairman combination ✔ FY2025 guidance delivered ✔ Reinforcing alignment between ✔ LFL revenue growth +5-7% ✔ €1bn revenue threshold vision, strategy and execution ✔ Adj. EBITDA margin above FY25 crossed ✔ Capex be
Slide 24: Appendices
Wa OVHcloud Appendices 24
Slide 25: Forward looking statement
Forward looking statement Important notice The following applies to this document, the oral presentation of the information contained in this document made by OVHcloud (the “Company”) or any person on behalf of the Company and any question-and-answer session that follows the oral presentation. This
Slide 26: Glossary
Glossary Like-for-like is calculated at constant exchange rates, constant scope and excluding Strasbourg (SBG) direct impacts. Scope adjustments correspond to M&A. ROCE (return on capital employed) is calculated by dividing adjusted EBITDA after depreciation, amortisation and impairment and tax for
Slide 27: Revenue by segment and geography
Revenue by segment and geography Q1 FY2024 Q2 FY2024 Q3 FY2024 Q4 FY2024 FY2024 Q1 FY2025 Q2 FY2025 Q3 FY2025 Q4 FY2025 FY2025 In € million – by segment Reported Reported Reported Reported Reported Reported Reported Reported Reported Reported Private cloud 149.6 152.9 157.6 163.5 623.6 164.5 169.8 1
Slide 28: Reconciliation reported & like-for-like
Reconciliation reported & like-for-like By segment By geography FY24 FX Scope Public Cloud FY24 FX Scope Public Cloud In € million FY24 LFL In € million FY24 LFL Reported impacts impacts Adjustments Reported impacts impacts Adjustments Private Cloud 623.6 (4.5) 0.0 0.0 619.1 France 482.5 0.0 0.0 0.5
Slide 29: Consolidated Statement of Income
Consolidated Statement of Income (in € million) FY 2024 FY 2025 Revenue 993.1 1,084.6 Cost of goods sold (121.0) (112.2) Operating costs (244.5) (263.4) Gross margin 627.6 709.0 Sales, General and Administrative expenses (239.9) (265.2) Profit Sharing (6.2) (5.9) Adjusted EBITDA 381.5 437.8 Share-ba
Slide 30: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position (in thousand euros) 31 august 2024 31 august 2025 Goodwill 59.7 59.1 Other intangible assets 295.1 297.4 Property. plant and equipment 972.4 993.3 Rights of use assets 135.6 134.9 Non-current derivative financial instruments – assets 10.2 2.5 Other non-cu
Slide 31: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows (in thousand euros) FY 2024 FY 2025 Consolidated net income (loss) (10.3) 0.4 Adjustments to net income items: Depreciation. amortisation and impairment of non-current assets and rights of use relating to leases 343.1 354.4 Changes in provisions 1.6 (1.6) (Gains)