Data centre operator NEXTDC has reported a jump in contracted utilisation, up 30 per cent to 228 megawatt since the end of 2024, driven by major customer wins with artificial intelligence deployments.
The company's Victorian facilities have experienced the biggest growth, with contracted utilisation reaching 114 MW - representing 161 per cent of the built capacity available at the end of last year.
"We are very pleased to have recorded the largest increase in contracted utilisation in the Company's history," Craig Scroggie, chief executive officer and managing director of NEXTDC, said.
Scroggie attributed the growth to emerging technologies, noting that "the rise of artificial intelligence and high-performance computing is reshaping the data centre industry at speed."
The company's forward order book has expanded by 54 per cent to 127 MW, marking a record result for NEXTDC.
Revenue from these new contracts is expected to begin flowing during the 2027 financial year after completion of additional data halls, with full revenue run rate anticipated from FY28 onwards.
In response to the increased demand, NEXTDC has revised its capital expenditure guidance upward by A$100 million to between A$1400 million and A$1600 million for FY25.
The company maintained its original guidance for FY25 net revenue and underlying earnings before tax.
NEXTDC reported A$2.5 billion in liquidity as of December 2024, with a modest gearing ratio of 8.8 per cent.
Having restructured its debt facilities in the first half of FY25, the company now plans to secure additional senior debt facilities to fund capital expenditure requirements for the new customer contracts.
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