Global Data Centre Group H1FY24 Results Overview

Global Data Centre Group (ASX: $GDC) has released its H1FY24 results, showcasing a robust performance with operating revenue reaching $14.5 million, marking a 36% increase from the previous corresponding period (pcp). Operating EBITDA also surged to $4.8 million, reflecting a substantial 136% rise compared to pcp. The company's strong financial performance was primarily attributed to the significant growth driven by Etix, along with the successful integration of zColo business.

Executive Commentary on H1FY24 Results

The company's H1FY24 results demonstrate our continued commitment to delivering strong financial performance and strategic growth. The substantial increase in operating revenue and EBITDA underscores the successful execution of our investment strategy, particularly the scaling up of Etix. The acquisition and integration of zColo business have further bolstered our position, with the support of a strong capital partner, Eurazeo Infrastructure Partners. We are pleased with the progress made in expanding our data centre portfolio and enhancing our capital structure, which provides us with a solid foundation for future growth and efficiency.

H1FY24 Results Summary and Outlook

Global Data Centre Group's H1FY24 results reflect a robust financial performance, driven by the strong revenue and EBITDA growth, primarily attributed to the scaling up of Etix and the successful integration of zColo business. The company's market and investment strategy have yielded positive outcomes, as evidenced by the substantial unit price growth and the execution of the medium-term asset realization strategy. Looking ahead, the company aims to capitalize on its strong position by focusing on further growth, with a clear outlook to achieve $30 - $30.5 million in revenue and $9.8 - $10 million in EBITDA for FY24. The company's ambitions to expand Etix platform coverage and MWs, along with the organic expansion in IT capacity, position it well for continued success in the dynamic data centre industry.