NEXTDC has attributed its growth in revenue and underlying EBITDA in FY25 to its “record” sales year and forward order book, talking up the demand its seeing from cloud and AI deployments.
FY25 saw net revenue grow $42.3 million (up 14%) to $350.2 million, while underlying EBITDA increased $12.4 million (up 6%) to $216.7 million.
NEXTDC claimed it had a “record sales year”, with contracted utilisation increasing 72.2MW (42%) to 244.8MW, to go along with a “record Forward Order Book” of 133.9MW, with approximately 85% of that expected to translate into billings/revenues and EBITDA by FY27, and the remainder by FY29.
NEXTDC CEO and MD Craig Scroggie said FY25 exceeded net revenue guidance and set new contracting records.
“Our Forward Order Book is greater than the entire billing footprint today, and with a strong liquidity position we are rapidly bringing capacity forward to turn contracted commitments into revenue and cash flow while scaling for extraordinary AI and cloud demand across Asia-Pacific,” he said.
NEXTDC commissioned (added) 42.7MW of built capacity during FY25 with a further 121MW of capacity (in progress) at 30 June 2025, with the D1 Darwin and A1 Adelaide data centres opened to customers early in FY25.
Accelerated AI and hyperscale expansion works for S3 Sydney, M2 Melbourne, M3 Melbourne and KL1 Kuala Lumpur currently continue, with S4 Sydney early works in progress and S5 Sydney and M4 Melbourne planning progressing with works for S5 Sydney expected to commence during FY26.
New developments are underway for SC2 Sunshine Coast and D2 Darwin to support Google’s Australia Connect initiative for the Bosun subsea cable system and the Interlink cable to deliver new digital pathways for the Indo-Pacific.
NEXTDC also said it has continued to make targeted investments in enhancing systems at its operational facilities, including advanced cyber and physical security, and at the corporate level, is investing in IT systems and processes, transitioning from capex-intensive legacy platforms to flexible, scalable, on demand models.
Western Sydney joint venture announced
The company announced that advisors have been appointed to establish a joint venture (JV) platform to own, develop and operate its proposed S4 and S7 data centres in Western Sydney, in partnership with third-party private capital.
S4 and S7 are expected to provide more than 850MW of IT capacity, and the sites are positioned in the Western Sydney growth corridor, with direct access to critical fibre routes and utility networks.
NEXTDC said that the JV will “unlock capital efficiency, supporting growth beyond NEXTDC’s balance sheet” as well as “providing access to new pools of private capital, including superannuation, pension, industry and infrastructure funds”.
“This approach [joint-venture] is particularly valuable for large-scale projects that demand lower capital costs and greater operational flexibility,” the company said.
“Once established, the Joint Venture can serve as a scalable model for future joint ventures, enabling expansion into development opportunities beyond Western Sydney”.
NEXTDC will hold a minority stake while continuing to manage and operate the JV.
FY26 revenue predicted to jump $50 million
In its FY26 guidance, the company advised its expecting net revenue of $390 million to $400 million and expecting underlying EBITDA of $230 million to $240 million.
AI, cloud, hyperscalers, neoclouds, enterprise, ICT alliances and partners are all driving “strong growth” in colocation and hyperscale deployments, according to the company.
The company also said that land bank investments will convert to operational data centres over time, driving future earnings growth.
“FY26 will be a landmark year for NEXTDC as we make strategic investments to expand our platform, positioning us at the forefront of the digital infrastructure boom driven by the fourth industrial revolution,” Scroggie said.
“As data centres become the factories of the future, transforming data into actionable insights, our focus is on capitalising on this historic technological transformation. These investments will reinforce our role as a critical enabler of innovation, where robust digital infrastructure is the foundation of tomorrow’s enterprises.”
Scroggie said as AI and cloud technologies increasingly drive global enterprise, the demand for speed, scalability, and reliability in digital infrastructure will continue to surge.
“NEXTDC is at a pivotal inflection point, strategically building the foundational systems that will empower hyperscale customers, enterprises, and Government agencies to excel in this new era,” he said.
“We are confident that these targeted investments will not only fuel significant growth but also position NEXTDC as a central pillar in the digital infrastructure landscape across the Asia Pacific region.”
