Global Data Centre Group (ASX: $GDC) HY24 Financial Results

Global Data Centre Group (ASX: $GDC) has reported its half-year financial results for the period ending 31 December 2023. The Group's operating EBITDA increased by 136% on the prior corresponding period, reaching $4.8 million. The statutory net profit attributable to securityholders rose to $23.0 million, up $25.4 million on the prior corresponding period. The Group's statutory NAV increased to $2.40 per security, up 13% on June 2023. GDC's key investments, including the acquisition of zColo France and the expansion of Etix's operating capacity, have contributed to these positive results.

Executive Commentary on GDC's HY24 Financial Results

The Group's focus on current investments and medium-term realization strategy has delivered strong financial performance for the half-year ending 31 December 2023. The acquisition of zColo France and the expansion of Etix's operating capacity have been key drivers of our growth. We are pleased with the increase in operating EBITDA and the rise in statutory net profit attributable to securityholders. Our strong balance sheet and the forecasted operating revenue and EBITDA for FY24 indicate a positive outlook for the Group's future performance.

Summary of GDC's HY24 Financial Results and FY24 Outlook

Global Data Centre Group (ASX: $GDC) has reported a successful half-year financial performance, driven by the acquisition of zColo France and the expansion of Etix's operating capacity. The Group's forecast for FY24 indicates a positive outlook, with expected growth in operating revenue and EBITDA. GDC's key investments are well positioned to capture growth from strong sector tailwinds, particularly with Etix benefiting from the increasing importance of edge data centers across Europe and AirTrunk's exposure to strong growth in hyperscale in Asia's tier 1 cities. GDC's ambitions to take advantage of the unique investment cycle and target an internal rate of return of 10% per annum align with its strong performance and outlook.