On a per square meter basis, revenue is also impressive, rising from just under $7,000 in 2015 to well over $10,000.
NEXTDC had a mission to build Victoria’s largest and most resilient Tier IV certified data centre, offering unprecedented levels of power, security and connectivity, to service the increasing demand of its customers. Since March the business has contracted an additional 12 megawatts (MW) worth of deals to its Melbourne facilities, compared with less than 4MW in the previous four years. As this is not yet being billed it offers significant indications of revenue and earnings.Assuming a lower price per megawatt for the non-billing contracted capacity, and adding $6m in annualised project revenue, the broker estimates over $217m in annual revenue is on the cards, 36% above equivalent guidance for FY19.Canaccord Genuity suggests operating earnings have become a less useful measure of the performance of the business, with the adoption of new accounting standards that affect project revenue and rent payment.Rather than recognising project fees upon completion, this is now amortised over the life of the contract or lease, and rent payments have been disaggregated into finance and depreciation charges. All Rights Reserved. ... the picture changed markedly and there is now over 40 MW available for sale in Melbourne.
Tier certification from the independent Uptime Institute is a globally accepted standard for the design and build of data centres and can be a reason why clients choose a particular data centre.Aurecon’s extensive expertise in the latest technologies and systems commonly used in data centres was the reason NEXTDC chose the organisation as its design partner. It was initially sized to 25 MW but during the project it was expanded to 40 MW of IT load (fully built) in response to the projected growth of NEXTDC.To facilitate the high-energy usage, the electrical system uses high voltage switchgear and transformers on site. The shares have performed poorly since the latest results, despite a record half of newly-contracted volumes. The M2 data centre is the largest in Victoria. Solar for your business Solar PPA & leasing Solar incentives & rebates Our services Commercial energy storage Why Energy Matters Case studies Casuarina Square - 1.25 MW NEXTDC Data Centre - 400 kW Melbourne University - 100 kW Bupa Aged Care - 3.7 MW More case studies Aurecon applied its knowledge of power usage effectiveness (PUE) to meet the challenge of designing such a system to both seamlessly interface with the electricity grid and operate at a level of The benefit of modular and flexible design has provided NEXTDC with additional floor space to accommodate growing security and connectivity needs of their customers.
Moreover, because the company is incurring significant expenditure to achieve its growth ambitions this has led to elevated debt and interest levels.Citi asserts large-scale deployments take time and patience is required, although acknowledges any delays in asset delivery could impact the company's reputation and this poses downside risks to forecasts. NEXTDC is a market leader in designing and operating world-class data centres, built to its own rigorous standards and independently proven through the Uptime Institute tier certification system. Remember me Operating leverage should emerge in FY21.Melbourne continues to be the company's largest market in terms of earnings but will soon be surpassed by Sydney because of strong sales momentum in the latter. Aurecon designed the more than 20 outdoor generators and 50 outdoor mechanical air handling units to stringent acoustic restrictions and requirements in respect of the surrounding properties. The broker, not one of the eight monitored daily on the FNArena database, retains a Buy rating with a $7.50 target.The database has four Buy ratings, two Hold and one Sell (Deutsche Bank). One of the issues regarding sales in Melbourne, Canaccord Genuity suspects, has been a relative lack of available inventory.Melbourne continues to be a lag in terms of sale capacity, with only 3.4 MW secured in the last 3.5 years. These two items, by chance, appears set to cancel each other out. The company had downgraded revenue guidance for FY19, because of lower distribution and interest income as a result of the acquisition of Asia Pacific Data Centre.Morgans suspects some investors were expecting a much larger increase in sales activity in the first half, yet Nevertheless, Morgans is conscious investors have high hopes and continues to envisage share price risk over the next few years, as expectations need to adjust to healthy growth as opposed to "hockey stick" growth.Canaccord Genuity estimates that operating earnings (EBITDA) were up more than 25% in the first half and, thanks to a record sales period in Sydney, the company has also approached 14MW, which is 27% of its total contracted capacity. This is a much larger data center than the company’s first one in Brisbane, which provides 2.25MW of IT load. NextDC performed poorly in the wake of the first half results and several brokers believe the numbers and the company's strategy have not been well understood. No portion of this website may be reproduced, copied or in any way re-used without written permission from FNArena. It was initially sized to 25 MW but during the project it was expanded to 40 MW of IT load (fully built) in response to the projected growth of NEXTDC. The consensus target is $7.64, suggesting 23.1% upside to the last share price. Cross-connects remain a … There is also increased competition from Equinix, which has focus on large cloud customers.Canaccord Genuity estimates international peers are trading on multiples of 18.1x for average June FY19 estimates.
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