Nextdc Limited · ASX:NXT
Nextdc — H1 FY2020 Earnings Presentation
24 slides from Nextdc's earnings presentation, Feb 28, 2020
Slide 1: FY20 Half-Year Results
FY20 HALF-YEAR RESULTS 28 FEBRUARY 2020
Slide 2: 1H20 Highlights
1H20 HIGHLIGHTS REVENUE UNDERLYING EBITDA1 UTILISATION $97.7m $50.9m 53.3MW +8% +21% +6% CUSTOMERS PARTNERS INTERCONNECTIONS2 1,264 596 12,012 +16% 70 NETWORKS +20% Note: All percentage increases are expressed relative to the 1H19 results 1. 1H20 figures exclude costs related to review works into po
Slide 3: 1H20 Highlights
1H20 HIGHLIGHTS ▪ Revenue from data centre services grew $11.3m (13%) to $95.4m ▪ Contracted utilisation is up 2.8MW1 (6%) to 53.3MW (31 December 2018: 50.4MW), with new sales of 3.2MW1 before adjusting for a one-off clawback of wholesale capacity of 0.4MW SOLID REVENUE GROWTH ▪ Number of interconne
Slide 4: 1H20 Agenda
1H20 AGENDA Financial Results Business Performance FY20 Guidance Appendices
Slide 5: Financial Results
FY20 Half-Year Results FINANCIAL RESULTS
Slide 6: 1H20 profit and loss summary
1H20 profit and loss summary 1H20 1H19 Change Note ($m) ($m) ($m) Data centre services Underlying Data centre services revenue 95.4 84.1 11.3 REVENUE EBITDA1,2 Other revenue Total revenue from continuing operations 2.3 97.7 6.6 90.8 (4.3) 7.0 13% 21% ▪ Direct costs increased in line with customers
Slide 7: Solid revenue and EBITDA growth
Solid revenue and EBITDA growth 13% growth on 1H19 21% growth on 1H19 Data centre services revenue1 Underlying EBITDA1,2 Project revenue $95.4m Underlying EBITDA $50.9m Recurring revenue $84.1m $85.6m $79.6m $42.9m $42.2m $72.9m $61.6m $33.6m $56.0m $29.0m $48.0m $25.1m $23.9m $16.4m 2H16 1H17 2H17
Slide 8: Revenue per unit metrics
Revenue per unit metrics Annualised revenue per square metre1 ($) Annualised revenue per MW2 ($m) 10,765 4.54 4.56 10,482 10,484 4.40 4.43 4.31 10,133 9,644 3.98 3.99 4.00 8,837 8,886 8,472 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 1. Revenue reflects data centr
Slide 9: Well capitalised for growth
Well capitalised for growth $20.1m 31 December 2019 30 June 2019 $0.2m $222.2m ($m) ($m) $399.0m Cash and cash equivalents 197 399 Property (land and buildings)1 744 639 Plant and equipment1 708 611 Total assets 1,832 1,826 $196.7m Borrowings2 796 794 Total liabilities 960 951 Net assets 872 875 ▪ S
Slide 10: Business Performance
FY20 Half-Year Results BUSINESS PERFORMANCE
Slide 11: Strong growth in customers and interconnections
Strong growth in customers and interconnections Number of customers Number of interconnections1 12,012 1,264 10,972 1,184 9,982 1,090 972 8,671 875 7,456 772 699 6,342 647 5,472 4,575 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 ▪ Strong growth in interconnections
Slide 12: Diversified recurring revenue model
Diversified recurring revenue model 4% 6% Customer by industry1,2 Utilisation by density1,3 7% Enterprise Government More than 6kW 30% 39% Cloud Financial Services 4kW to 6kW 42% 15% Connectivity Digital Media 3kW or less System Integrators 14% Cloud, connectivity and channel partners Customer power
Slide 13: Utilisation
Utilisation Installed capacity1 vs contracted utilisation Billing vs contracted utilisation ▪ 77% of installed capacity was contracted at 31 December 2019 ▪ Contracted utilisation up 2.8MW (6%) to 53.3MW since 31 December 20183 ▪ In advanced negotiations in relation to large customer opportunities ▪
Slide 14: Facilities capacity and utilisation
Facilities capacity and utilisation As at 31 December 2019 60 ▪ S2 Sydney: Two new data halls opened in Contracted utilisation 1H20, with two more underway to deliver 22MW 50 Future build Build in progress ▪ P2 Perth: Construction progressing well, practical completion of first tower expected in 40
Slide 15: FY20 Guidance
FY20 Half-Year Results FY20 GUIDANCE
Slide 16: FY20 Guidance Affirmed
FY20 GUIDANCE AFFIRMED Revenue between $200m to $206m (up 12% to 15% on FY19) ▪ Strong growth in recurring data centre services revenue, underpinned by long-term customer contracts ▪ 10MW of contracted capacity will begin billing progressively during FY20 and FY21 SOLID REVENUE ▪ Inventory now avail
Slide 17: Appendices
FY20 Half-Year Results APPENDICES
Slide 18: Major Development Projects
FY20 Half-Year Results MAJOR DEVELOPMENT PROJECTS
Slide 19: S2 Sydney
S2 SYDNEY TECHNICAL SPECIFICATIONS Technical Space 8,700sqm Total IT capacity 30MW Installed capacity 14MW Target PUE 1.151 / 1.292 Design and construction UI Tier IV Design standard UI Tier IV Construct UI Tier IV Gold for Operational Sustainability Status Operational ▪ UI Tier IV design and constr
Slide 20: P2 Perth
P2 PERTH TECHNICAL SPECIFICATIONS Technical Space 12,000sqm Total IT capacity 20MW Initial capacity ~2MW Target PUE 1.151 / 1.292 Design and construction UI Tier IV Design and Construct standard UI Tier IV Gold for Operational Sustainability Practical completion 2H20 ▪ UI Tier IV design and construc
Slide 21: Case Studies
CASE STUDIES
Slide 22: Case study – M1 Melbourne
Billing utilisation Facility EBITDA1 ($m) Case study – M1 Melbourne 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 Facility EBITDA 2H19 1H20 25 100% Highlights 20 80% ▪ NEXTDC’s second facility, commenced 15 60% operations in September 2012 ▪ Break-even reached after 11 months of 10 40% operation 5 20
Slide 23: Case study – S1 Sydney
Billing utilisation Facility EBITDA1 ($m) Case study – S1 Sydney 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 Facility EBITDA 2H19 1H20 25 100% Highlights 20 80% ▪ NEXTDC’s fourth facility commenced 15 60% operations in September 2013 ▪ Break-even reached after 7 months of 10 40% operation 5 20% 0 0
Slide 24: where the cloud lives
where the cloud lives TM investorrelations@nextdc.com linkedin.com/company/nextdc youtube.com/user/nextdatacentre 13 6398 twitter.com/nextdc www.nextdc.com/blog facebook.com/datacentres