Update: NEXTDC Cuts Fiscal 2027 Revenue, EBITDA Guidance on Melbourne Power Delays; Shares Hit Nine-Year Low

MT Newswires Live10-21 09:47

(Updates to add stock movement in the headline and the last paragraph)

NEXTDC (ASX:NXT) revised its fiscal 2027 net revenue guidance, excluding the affected M3 Melbourne contracts, to AU$475 million to AU$500 million from AU$615 million to AU$640 million, according to a Wednesday Australian bourse filing.

The company said delays to Jemena's electricity network works mean the next increase in grid supply to its M3 Melbourne data center is now expected in fiscal 2028, deferring the delivery and billing of contracted capacity.

It also revised fiscal 2027 underlying earnings before interest, taxes, depreciation and amortization (EBITDA) guidance, excluding the affected contracts, to AU$245 million to AU$265 million from AU$385 million to AU$410 million, the filing added.

The company said the Victorian government's planning decision on M3 Stages 6 and 7 is now expected only after the Victorian state election on Nov. 28.

NEXTDC lowered its fiscal 2027 capital expenditure guidance to AU$4.5 billion to AU$5 billion from AU$5.25 billion to AU$5.75 billion.

The company had AU$8.68 billion of liquidity at Sept. 30 and is in compliance with its financial covenants, the filing added.

The earliest scheduled debt maturity is December 2029, with a potential put option for convertible note holders on Sept. 17, 2029, it said.

The company's shares tumbled around 38% in recent trading on Wednesday and earlier hit their lowest level since October 2017.

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