DGAP-News: Northern Data AG / Key word(s): Forecast
NORTHERN DATA AG ANNOUNCES REVENUE AND EARNINGS FORECAST FOR 2020
– Forecast 2020 released post successful merger with Whinstone and signing of several global customer contracts
– Expected revenues of EUR 120 – 140 million
– Expected EBITDA of EUR 45 – 60 million
Frankfurt on the Main – March 16, 2020 – Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), one of the largest providers of High-Performance Computing (HPC) solutions worldwide, today announced revenues and earnings forecast for the current financial year 2020.
Following the completion of the successful merger of Northern Data AG and Whinstone US, Inc., Northern Data is now the owner of the world’s largest HPC data center currently nearing completion in Texas, US, with an initial capacity of 350 megawatts expected to increase to 1 gigawatt by year-end 2020.
Northern Data has signed binding contracts to provide HPC solutions to global customers, and as such expects significant growth in both total revenues and earnings before interest, taxes, depreciation and amortization (EBITDA). Based on current expectations and in accordance with contracts that have already been signed, the Management Board anticipates revenues of EUR 120 million to EUR 140 million in the course of the financial year 2020. Accordingly, the Management Board expects an EBITDA for the financial year 2020 of between EUR 45 million and EUR 60 million.
This represents a significant increase in comparison to the expected preliminary numbers for Northern Data for 2019 with revenues of around EUR 10 million and a negative EBITDA of around EUR 8 million.
“We have been working on the world’s largest HPC data center in Texas for some time and have secured high-quality contracts with global blue-chip customers. We are looking forward to the exciting next step of going live in the coming months,” said Aroosh Thillainathan, CEO of Northern Data AG. “Given these recent developments and our state-of-the-art facility in the US, we feel more than confident to deliver this guidance and continue our steep growth path for the years to come.”
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