Tax bill sees NextDC loss soar to $45M

Tax bill sees NextDC loss soar to $45M

640-partner channel helps revenue rise to $205 million

Credit: NextDC

NextDC has closed the 2020 financial year with a $45 million loss, partly driven by a $26 million tax bill.

The data centre operator had otherwise had a reasonably robust year, growing its revenue by 14 per cent to $205 million and EBITDA by roughly a third to $103 million.

During the year ending 30 June 2020, NextDC’s capital expenditure up by 11 per cent — or $40 million — to $418 million, having raised $862 million.

The year’s loss marks a 360 per cent increase from FY2019, when it ended the year with a $10 million loss.

NextDC has invested $470 million in two new data centres in Sydney and Perth — S2 and P2 — and also a further $261 million to acquire Asia Pacific Data Centre (APDC) Group last year.

The new Perth data centre, known as P2, was completed following the end of the financial year in July.

Now, the company counts six public cloud providers using its facilities plus a cloud centre partner ecosystem of over 640 Australian IT services providers.

In addition, NextDC told shareholders it now has 1,364 customers. 

Looking ahead into 2021, the company is eyeing revenue of $250 million, partly helped by the completion of the Vocus ASC submarine cables, which connects the East Coast of Australia to Perth and then onto Singapore from its P2 data centre.

"The last six months has been nothing short of extraordinary, like no time in our lives have we experienced such global disruption, an acceleration of digital services, years of technology adoption have been condensed into months," CEO Craig Scroggie said in a blog post. 

"Like never before our communities are relying on us for the services and platforms needed to deliver the critical digital services that are powering our daily lives today and those into the future."

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