Nextdc Limited · ASX:NXT
Nextdc — 1H21 Earnings Presentation
26 slides from Nextdc's earnings presentation, Feb 24, 2021
Slide 1: FY21 Half-Year Results
FY21 HALF-YEAR RESULTS 24 FEBRUARY 2021
Slide 2: 1H21 Highlights
1H21 HIGHLIGHTS REVENUE1 UNDERLYING EBITDA2 CONTRACTED UTILISATION $121.6m $65.7m 71.0MW 27% 29% 33% CUSTOMERS PARTNERS INTERCONNECTIONS3 1,465 660+ 13,911 16% 70+ NETWORKS 16% Note: All percentage increases are expressed relative to the 1H20 results 1. Represents data centre services revenue 2 2. R
Slide 3: 1H21 Highlights
1H21 HIGHLIGHTS DRAFT ▪ Data centre services revenue increased $26.2m (27%) to $121.6m ▪ Contracted utilisation increased 17.7MW 1 (33%) to 71.0MW SOLID REVENUE ▪ Interconnections3 increased 1,899 (16%) to 13,911, representing 7.6% of recurring revenue GROWTH ▪ Underlying EBITDA2 increased $14.9m (2
Slide 4: Agenda
AGENDA 1H21 FINANCIAL RESULTS BUSINESS PERFORMANCE FY21 GUIDANCE APPENDICES
Slide 5: 1H21 Financial Results
1H21 FINANCIAL RESULTS
Slide 6: 1H21 profit and loss summary
1H21 profit and loss summary 1H21 1H20 Change Note ($m) ($m) ($m) Data centre services Underlying Data centre services revenue 121.6 95.4 26.2 REVENUE EBITDA1 Other revenue Total revenue 2.8 124.5 2.3 97.7 0.5 26.7 27% 29% ▪ Direct costs increased in line with customers’ power consumption Direct c
Slide 7: Solid revenue and EBITDA growth
Solid revenue and EBITDA growth 27% growth on 1H20 29% growth on 1H20 Data centre services revenue1 Underlying EBITDA1,2 Project revenue $121.6m Underlying EBITDA $65.7m Recurring revenue $105.4m $53.7m $95.4m $50.9m $84.1m $85.6m $79.6m $42.2m $42.9m $72.9m $61.6m $33.6m $29.0m $25.1m 2H17 1H18 2H1
Slide 8: Revenue per unit metrics
Revenue per unit metrics Annualised revenue per square metre1 ($) Annualised revenue per MW 2 ($m) 10,765 10,816 4.54 4.56 10,482 10,484 10,669 4.40 4.43 4.38 10,133 4.31 4.31 9,644 4.00 8,886 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 1. Revenue reflects data ce
Slide 9: Well capitalised for growth
Well capitalised for growth $64.1m $54.5m 31 December 30 June Balance Sheet Summary ($m) 2020 2020 $892.9m $186.7m Cash and cash equivalents 716 893 $715.9m Property (land and buildings)1 904 854 Plant and equipment 819 704 Total assets 2,611 2,660 Borrowings2 781 798 Total liabilities 946 976 Net a
Slide 10: 1H21 Business Performance
1H21 BUSINESS PERFORMANCE
Slide 11: Strong growth in customers and interconnections
Strong growth in customers and interconnections Number of customers Number of interconnections1 13,911 1,465 13,051 1,364 12,012 1,264 10,972 1,184 9,982 1,090 972 8,671 875 7,456 772 6,342 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 ▪ Strong ongoing growth in cus
Slide 12: Diversified recurring revenue model
Diversified recurring revenue model 4% Customers by industry1,2 Utilisation by density1,3 6% Enterprise Government > 6kW 8% Cloud Financial Services 26% 4kW to 6kW 39% System Integrators Digital Media < 4kW 14% Connectivity 49% Cloud, Systems Integrators and Connectivity Customer power requirements
Slide 13: Utilisation
Utilisation Installed capacity1 vs contracted utilisation Billing vs contracted utilisation ▪ 80% of installed capacity was contracted at 31 December 2020 ▪ Contracted utilisation up 17.7MW (33%) to 71.0MW since 31 December 20193 ▪ 10MW of additional capacity added in 6 months since 30 June 2020 ▪ B
Slide 14: Facilities capacity and contracted utilisation
Facilities capacity and contracted utilisation As at 31 December 2020 Contracted utilisation ▪ S2 Sydney: Data hall 7 completed adding 4MW. 120 Future build Work in progress on final data hall 100 Build in progress ▪ M2 Melbourne: Building expansion works well Built progressed, with 6MW added in 1H2
Slide 15: Guidance
GUIDANCE DC tiga
Slide 16: FY21 Upgraded Guidance
DRAFT FY21 UPGRADED GUIDANCE Data centre services revenue1 guidance of $246m to $251m (previously $242m to $250m) ▪ Strong growth in recurring data centre services revenue, underpinned by long-term customer contracts ▪ Power recharge revenues move in line with power savings and improvements in data
Slide 17: 1H21 Appendices
1H21 APPENDICES
Slide 18: 1H21 Major Development Projects
1H21 MAJOR DEVELOPMENT PROJECTS
Slide 19: M2 Melbourne
M2 MELBOURNE TECHNICAL SPECIFICATIONS Technical Space 17,500sqm Total target IT capacity 60MW Installed capacity 16MW Target PUE 1.101 / 1.282 Design and construction UI Tier IV Design certifications UI Tier IV Constructed Facility UI Tier IV Gold for Operational Sustainability Status Operational ▪
Slide 20: S3 Sydney
S3 SYDNEY TECHNICAL SPECIFICATIONS Technical Space 20,000sqm+ Total IT capacity 80MW Initial capacity ~12MW Target PUE 1.151 / 1.292 Design and construction UI Tier IV Design standard UI Tier IV Constructed Facility UI Tier IV Gold for Operational Sustainability Practical completion 2H22 ▪ Seamless
Slide 21: 1H21 Underlying EBITDA Reconciliation
1H21 UNDERLYING EBITDA RECONCILIATION
Slide 22: Underlying EBITDA reconciliation
Underlying EBITDA reconciliation 1H21 1H20 ($m) ($m) Net profit / (loss) after tax (17.5) (4.9) Add: finance costs 40.3 29.4 Less: interest income (2.8) (2.3) Less income tax benefit - (4.0) Add: depreciation and amortisation 45.3 32.6 EBITDA 65.2 50.8 Less: gain on re-assessment of lease under AASB
Slide 23: 1H21 Case Studies
1H21 CASE STUDIES -ag80Db-
Slide 24: Case study – M1 Melbourne
Facility EBITDA1 ($m) Case study – M1 Melbourne 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 25 100% Billing utilisation Highlights 20 Facility EBITDA 80% ▪ NEXTDC’s second facility, commenced 15 60% operations in September 2012 ▪ Break-even reached after 11 months of 1
Slide 25: Case study – S1 Sydney
Facility EBITDA1 ($m) Case study – S1 Sydney 1H14 2H14 1H15 2H15 1H16 2H16 1H17 2H17 1H18 2H18 1H19 2H19 1H20 2H20 1H21 25 100% Billing utilisation Highlights 20 Facility EBITDA 80% ▪ NEXTDC’s fourth facility commenced 15 60% operations in September 2013 ▪ Break-even reached after 7 months of 10 40%
Slide 26: 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