Ovh Groupe Sas · EURONEXT:OVH

Ovh Groupe Sas — FY2026 Earnings Presentation

29 slides from Ovh Groupe Sas's earnings presentation, Oct 20, 2026

  1. Slide 1: FY26 Annual Results

    FY26 Annual Results 1 October 20th, 2026

  2. Slide 2: Octave Klaba, Founder, Chairman and CEO

    Octave KLABA Founder, Chairman and CEO FY26 Results 2

  3. Slide 3: Delivered on our commitments, growth accelerating

    Delivered on our commitments Growth accelerating Assets Execution Growth FY26 Results 3

  4. Slide 4: 2026 Key Highlights – Strong delivery, focus on value creation

    2026 Key Highlights – Strong delivery, focus on value creation LFL revenue Adj. EBITDA Capex Levered growth margin (as a % of revenue) FCF FY26 guidance delivered +7.2% 42% 32.6% €24.7m excl. frontloaded 2027 capex ✓ Re-targeted customer approach Operational ✓ Successful frontloaded CAPEX strategy m

  5. Slide 5: Assets - Ready for growth

    Assets Assets - Ready for growth Datacenters Servers 1 Inventory optimization 250 MW Capacity 2 Supply continuity 140 MW 110 MW Contracted Available 3 Mutualised pass-through FY26 Results 5

  6. Slide 6: Execution - Sales reorganization driving H2 rebound

    Execution Execution - Sales reorganization driving H2 rebound Segment reorganization... ...delivering achievements Digital starters Growing customer acquisition +4% growth (H2 vs H1 2026) Digital scalers Focus on specialized verticals +8% growth (H2 vs H1 2026) Corporates Strong upselling +7% growth

  7. Slide 7: Growth - AI vision: a journey under way

    Growth Growth - AI vision: a journey under way AI for SaaS OVHai Workspace Opportunistic M&A PaaS for AI Seald acquisition Token aaS Gladia acquisition OVH AI Summit November 19th, 2026 Train & Finetune Dragon LLM acquisition GPU secured GPU in Datacenters Next-gen GPUs OVHcloud Private Cloud Public

  8. Slide 8: Julien Rabette, Interim CFO

    Julien Rabette Interim CFO FY26 Results 8

  9. Slide 9: FY26 Business highlights

    Wa OVHcloud FY26 Business highlights

  10. Slide 10: Back in shape, building momentum

    Back in shape, building momentum Group Revenue Customers volume (Like-for-Like) (Monthly sequential evolution in FY261) 13% 11% 11% 10%10% 2.0% 10% 9% 9% 1.6% 8% 7% 1.4% 6% 1.2% 5% 1.1% 1.0% 0.9% 0,9% 0.8% 0.8% 0.7% 0.7% 2024 FY 2025 FY 2026 Q1 Q2 Q3 Q4 Q1 2026 Q2 2026 Q3 2026 Q4 2026 FY26 Results 1

  11. Slide 11: Accelerating sequential growth over the period

    Accelerating sequential growth over the period Year-on-year quarterly Digital Starters Digital Scalers Corporates €m €m €m 96 145 143 91 60 88 86 139 85 81 55 55 137 78 54 ~54 54 135 ~53 53 134 134 75 132 72 51 130 68 48 49 129 129 65 127 62 46 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 FY2024 FY2025 FY202

  12. Slide 12: Private Cloud – Repositioned entry-level range to boost acquisition

    Private Cloud – Repositioned entry-level range to boost acquisition Revenue Key highlights €179.8m €690.4m 60.3% Q4 FY26 FY26 up % FY26 Group +7.1% LfL +4.5% LfL Revenue Consolidated European Leadership €m MRR – Private Cloud Sound rebound in Bare Metal growth Business stepping-up in France & Northe

  13. Slide 13: Public Cloud – the group's growth engine

    Public Cloud – the group’s growth engine Revenue Key highlights €70.9m €255.1m 22.3% Q4 FY26 FY26 % FY26 Group +24.3% LfL +18.9% LfL Revenue Product portfolio depth €m MRR – Public Cloud 3AZ regions catching corporates traction Corporates powered by new contracts like ESA in Europe FY25 FY26 FY25 FY

  14. Slide 14: Webcloud – Sound growth, ongoing improvements

    Webcloud – Sound growth, ongoing improvements Revenue Key highlights €49.7m €199.7m 17.4% Q4 FY26 FY26 % FY26 Group +6.0% LfL +3.2% LfL Revenue Competitive model and affordable entry price Domain Names - Volume Accelerated Customer Acquisition Domain name boosted by AI demand Sep Oct Nov Dec Jan Feb

  15. Slide 15: FY26 Financials

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  16. Slide 16: Top-line growth above guidance, strongly accelerating down the P&L

    Top-line growth above guidance, strongly accelerating down the P&L Var. FY26 vs In € million FY25 FY26 FY25 reported Revenue 1,084.6 1,145.1 +5.6% +7.2% LfL Gross margin 709.0 770.2 +8.6% Operational excellence In % of revenue 65.4% 67.3% Adj. EBITDA 437.8 480.5 +9.7% In % of revenue 40.4% 42.0% Imp

  17. Slide 17: Productivity at all levels, EBITDA margin up +160bps

    Productivity at all levels, EBITDA margin up +160bps… 0.4% (0.2%) (0.2%) 0.7% 0.4% 0.4% 42.0% 40,4% EBITDA Margin FY 2025 COGS Operating cost Sales & Marketing cost G&A cost FX effect Others EBITDA Margin FY 2026 FY26 Results 17

  18. Slide 18: Driving positive levered FCF

    …driving positive levered FCF… 15.1 (8.5) 1.6 (422.4) 480.5 First-ever positive Levered Free Cash Flow 2027 prefinanced since IPO capex 49.5 (51.8) (49.5) (39.3) 24.7 Adjusted Change Cash Others items¹ Capex FY27 capex Interest Lease Levered EBITDA in WCR taxes brought fwd² paid repayments FCF FY26

  19. Slide 19: Significant growth in capex after tactical 2027 anticipation

    …although significant growth in capex after tactical 2027 anticipation In % of revenue FY25 FY26 Hardware 21% 21.1%1 (servers) €231m €242m 5% 4.6% Strict discipline on Infrastructure and Network CAPEX €51m €53m Product and 7% 6.3% Software More network projects €72m €72m Lower infrastructure Others

  20. Slide 20: Financing secured until FY30, available liquidity

    Financing secured until FY30, available liquidity Strong balance sheet No major event before FY2030 750 €1,157m 4.4% 200 Net debt FY26 Cost of debt 500 BB- (S&P) €255m1 450 500 Ba3 (Moody’s) 250 Liquidity Ratings 17 33 33 33 17 0 33 33 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33 2,7x Main debt : Green l

  21. Slide 21: Indisputable improvement in Return on Capital

    Indisputable improvement in Return on Capital +60bps Investments paying off 7.7% 7.1% 4.2% Capacity to grow 3.7% 3.3% 0.6% New North Star : ROCE FY21 FY22 FY23 FY24 FY25 FY26 FY26 Results 21

  22. Slide 22: Octave Klaba, Founder, Chairman and CEO

    Octave KLABA Founder, Chairman and CEO FY26 Results 22

  23. Slide 23: Outlook

    Wa OVHcloud Outlook 23

  24. Slide 24: Accelerating growth and value: FY2027 Guidance

    Accelerating growth and value FY2027 Guidance Revenue Growth LfL Above 10% Adjusted EBITDA margin Above 42.5% Levered Free Cash Flow Positive ROCE Above 9% Leverage ratio1 Below 2.7x FY26 Results At Forex rates as of 30/09/2026 24 1. Leverage ratio definition has been updated to take IFRS16 lease in

  25. Slide 25: Key takeaways

    Key takeaways Foundations Momentum restored FY27 Scaling up for rebuilt cash breakthrough cash and value1 ✔ FY26 guidance fully delivered ✔ Revenue growth >10% ✔ Retargeted customer approach LfL ✔ Sound incremental top- line flow-through EBITDA ✔ Positive levered FCF ✔ Full supply continuity ✔ First

  26. Slide 26: Q&A

    W OVHcloud Q&A 26

  27. Slide 27: Appendix

    Wa OVHcloud Appendix 27

  28. Slide 28: 70%+ of incremental revenue flowing through EBITDA

    A 70%+ of incremental revenue flowing through EBITDA… + €60.5m €1,145m €1,085m 71% of margin for new sales + €43.4m Sales Sales €481m increase FY €437.8m Sales • +7.2% LfL Adj. EBITDA FY 2026 EBITDA EBITDA • +5.6% increase 2025 reported FY 2025 • +10% reported FY 2026 • >70% of Incremental revenue f

  29. Slide 29: Stronger Q4: +10.5% like-for-like

    Stronger Q4: +10.5% like-for-like France 48% Europe (excl. France) 29% Rest of World 23% €142.0m €550.6m €87.7m €333m €70.6m €261.6m +8.3% LfL +6.0% LfL +11.0% LfL +6.4% LfL +14.7% LfL +10.7% LfL Q4 FY26 FY26 Q4 FY26 FY26 Q4 FY26 FY26 Revenue Revenue Revenue Revenue Revenue Revenue → Public Cloud: s

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