Founded by Bevan Slattery [1] in 2010, NextDC (NXT) is a data centre [2] operator with 11 data centres around the country. Named by Deloitte [3] as Australia’s fastest growing technology company in 2015, NXT listed on the ASX in 2016. In July 2020, it opened its second data centre in Perth, invested around $17 million for a 20% stake in AUCloud the following year, and last year announced it will invest more than $100 million to build a data centre in Adelaide [4].
“Structural demand for cloud and colocation remains incredibly strong,” Michael said.
“NXT’s new S3 (Sydney) and M3 (Melbourne) data centres are now open.
“Consequently, we expect significant new customer wins over the next six to twelve months (including cash-secured put (CSP) options being exercised).
“Sales should drive the share price higher.
“NXT looks comfortably ontrack to generate over $300 million of EBITDA in the next three to five years,” Michael said.
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