Ovh Groupe Sas · EURONEXT:OVH

Ovh Groupe Sas — Ovh Groupe — H1 FY25 Earnings Presentation

27 slides from Ovh Groupe Sas's earnings presentation, Apr 17, 2025

  1. Slide 1: Half-year FY25 Results

    Half-year FY25 Results A p r i l 1 7 th, 2 0 2 5

  2. Slide 2: Forward looking statement

    Forward looking statement Important notice – You must read the following before continuing 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 s

  3. Slide 3: H1 FY25 – Key highlights

    H1 FY25 – Key highlights ✔ Solid double-digit growth fueled by €536.0m +10.2% Public cloud products, Data Revenue LFL1 Revenue growth Sovereignty offers and international demand ✔ Discipline is unchanged with strong operating leverage driving higher €214.6m 40.0% margin and cash generation Adj. EBIT

  4. Slide 4: Our vision to Shape the Future for OVHcloud

    Strategic Our vision goals to Shape the Future for OVHcloud Leveraging strong core business Strengthening fundamentals to deliver: future revenue growth levers: Predictable and Higher cash Data sovereignty Public Cloud profitable generation solutions at products matching growth global scale strong c

  5. Slide 5: H1 FY25 – Business highlights

    H1 FY25 – Business highlights Products Customers Datacenters Bare Metal Pod A sovereign, ultra-secure Bare Metal Migration from on- ~65% Occupation rates in H1 FY25 solution with SecNumCloud premises to Private Successful focus on improving occupation certification cloud in Germany rate of datacente

  6. Slide 6: Private cloud: double-digit revenue growth driven by Rest of the World

    Double-digit revenue growth driven by strong momentum in Rest of the World Private cloud revenue Private cloud – Key highlights €169.8m €334.2m Bare Metal Q2 FY25 H1 FY25 revenue revenue  Continued ARPAC improvement with a positive mix effect from the ramp-up of recently launched mid-range servers

  7. Slide 7: Public cloud: accelerating growth fueled by Public cloud products

    Accelerating growth fueled by Public cloud products Public cloud revenue Public cloud – Key highlights €53.5m €103.8m  Accelerating growth in all geographies, primarily supported by the Q2 FY25 H1 FY25 expansion of Public cloud products revenue revenue  Artificial Intelligence contributed to c.2pt

  8. Slide 8: Webcloud: growth driven by Domain Names

    Growth driven by a strong performance in Domain Names Webcloud revenue Webcloud – Key highlights €49.2m €98.0m  Webcloud H1 LFL revenue growth, excluding Telephony and Connectivity, reached +6.3% Q2 FY25 H1 FY25 revenue revenue  Double-digit growth in Domain Names, driven by the geographical roll-

  9. Slide 9: H1 FY25 Financials

    Wa OVHcloud H1 FY25 Financials

  10. Slide 10: Delivering profitable and cash generative growth

    Delivering profitable and cash generative growth Revenue Adj. EBITDA margin Capex Unlevered Free Cash-flow in € million in % of revenue in % of revenue in € million Reported +10.3% +2.2pts +2.7pts +€22.6m LFL +10.2% 40.0% 36.0% 36.8 536.0 37.9% 33.3% 486.1 14.2 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY2

  11. Slide 11: Solid double-digit growth driven by Private and Public Cloud

    Solid double-digit growth driven by Private and Public Cloud H1 FY25 reported growth +10.3% H1 FY25 LFL growth +10.2% +17.3% +2.8% +10.4% 2.7 536.0 15.3 486.1 486.6 31.4 0.5 Reported LFL In € million H1 FY24 LFL adjustments H1 FY24 LFL Private cloud Public cloud Webcloud & H1 FY25 (Forex, Scope) LFL

  12. Slide 12: Strong momentum in the Rest of the World and steady demand in Europe

    Strong momentum in the Rest of the World and steady demand in Europe Q2 FY25 H1 FY25 % of H1 FY25 Revenue growth Revenue growth Group revenue France • Public cloud: Growth acceleration fueled by new products LFL +7.2% +8.1% 48% Reported +7.2% +8.1% • Private Cloud: Steady underlying demand for data

  13. Slide 13: Substantial margin improvement and positive net income

    Substantial margin improvement and positive net income Var. H1 FY25 In € million H1 FY24 H2 FY24 H1 FY25 vs H1 FY24 Revenue 486.1 507.0 536.0 +49.9 • Reduced impact of electricity costs Gross margin 305.5 322.2 345.2 +39.7 Gross • Strong operating leverage due to a high volume of margin servers prod

  14. Slide 14: Positive Unlevered Free Cash Flow of €36.8m

    Positive Unlevered Free Cash Flow of €36.8m Recurring Capex Growth Capex1 In % Revenue In % Revenue Phasing effect in payment to suppliers 11.4% 24.6% (2.1) 214.6 21.3 (4.0) (61.1) (131.8) 36.8 (21.9) (19.4) 0.1 (4.5) Adj. EBITDA Non recurring Change in WC Taxes Recurring Capex Growth Capex Unlevere

  15. Slide 15: Reduction of Infrastructure capex with seasonal push on Hardware capex

    Reduction of Infrastructure capex with seasonal push on Hardware capex In % of revenue H1 FY24 H2 FY24 H1 FY25 ✔ Capex seasonality and proactive push on supply to Hardware (servers) 17% 15% 27% Hardware prevent shortage Infrastructure Infra. & ✔ Reduction of Infrastructure capex with a focus on and

  16. Slide 16: Successful refinancing with inaugural bond issuance and first Green Loan

    Successful refinancing with inaugural bond issuance and first Green Loan Successful refinancing No major debt repayment before FY30 Main debt schedule, in €m, as of February 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

  17. Slide 17: Outlook

    Wa OVHcloud Outlook

  18. Slide 18: Confirmed FY2025 guidance

    Confirmed FY2025 guidance FY2025 guidance LFL revenue growth 9-11% Adjusted EBITDA margin c.40% Recurring 11-13% Capex 30-34% as a % of revenue Growth 19-21% Unlevered Free Cash Flow >€25m, improving vs FY24 H1 FY25 Results 18

  19. Slide 19: Q&A

    Wa OVHcloud Q&A

  20. Slide 20: Key takeaways

    Key takeaways Confirmed FY25 Strong performance in H1 Key business highlights guidance ✔ Solid LFL revenue growth ✔ Strong demand for data ✔ Strong operating leverage ✔ LFL revenue growth: 9-11% sovereignty offers driving Adj. EBITDA margin ✔ Adj. EBITDA margin c.40% ✔ Continued roll-out of new impr

  21. Slide 21: Appendices

    Wa OVHcloud Appendices 21

  22. Slide 22: 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. The net revenue retention rate for any period is equal to the percentage calculated by dividing (i) the revenue generated in such period

  23. Slide 23: Revenue by segment and geography

    Revenue by segment and geography By segment By geography Q1 FY2024 Q2 FY2024 H1 FY2024 Q1 FY2025 Q2 FY2025 H1 FY2025 Q1 FY2024 Q2 FY2024 H1 FY2024 Q1 FY2025 Q2 FY2025 H1 FY2025 In € million In € million Reported Reported Reported Reported Reported Reported Reported Reported Reported Reported Reporte

  24. Slide 24: Reconciliation reported & like-for-like

    Reconciliation reported & like-for-like By segment By geography H1 FY24 FX Scope H1 FY24 FX Scope In € million H1 FY24 LFL In € million H1 FY24 LFL Reported impacts impacts Reported impacts impacts Private Cloud 302.5 0.3 0.0 302.9 France 237.5 0.0 0.0 237.5 Public Cloud 88.4 0.1 0.0 88.5 Europe (ex

  25. Slide 25: Consolidated Statement of Income

    Consolidated Statement of Income (in € million) H1 FY 2024 H1 FY 2025 Revenue 486.1 536.0 Cost of goods sold (57.0) (57.5) Operating costs (123.6) (133.3) Gross margin 305.5 345.2 Sales, General and Administrative expenses (118.7) (128.1) Profit Sharing (2.8) (2.5) Adjusted EBITDA 184.0 214.6 Share-

  26. Slide 26: Consolidated Statement of Financial Position

    Consolidated Statement of Financial Position (in thousand euros) 31 august 2024 28 february 2025 Goodwill 59,708 60,507 Other intangible assets 295,131 299,263 Property, plant and equipment 972,444 1,024,749 Rights of use assets 135,617 142,715 Non-current derivative financial instruments – assets 1

  27. Slide 27: Consolidated Statement of Cash Flows

    Consolidated Statement of Cash Flows (in thousand euros) H1 FY 2024 H1 FY 2025 Consolidated net income (loss) (17,243) 7,206 Adjustments to net income items: Depreciation, amortisation and impairment of non-current assets and rights of use relating to leases 172,778 170,381 Changes in provisions 1,9

Ovh Groupe — H1 FY25 Earnings Presentation on 6ix