NextDC (ASX:NXT)
What does today's Contracted utilsation update mean?
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NextDC (ASX:NXT) released contracted utilsation update to market today ( 6th August 2024).
Here are the reported details
Contracted utilisation is 172.6MW ( up 23.6MW from 1H 2024)
Forward order book now stands at 86.6 MW
What does this mean ?
Forward order book graph
Contracted utilisation graph
Revenue for FY24
Based on my calculations, the 86 MW is Billing utilsation which increased by 6 MW wrt 1HFY24 and if we assume $ 4.9m for each MW then it comes down to $421m of revenue ( which is better than the guidance range provided of $400m to $415m)
So overall the announcment seems very positive and data center demand is as expected continuing.