OVHcloud Reports Enhanced Profitability and Cash Flow in H1 FY2024 Amidst Economic Challenges

OVHcloud announced an improvement in profitability and cash generation for the first half of fiscal year 2024, demonstrating resilience in a tough economic landscape. The company reported a 10.8% organic revenue growth and a 19.6% increase in organic adjusted EBITDA, with adjusted EBITDA margins rising by 2.5 points to 37.9%. This performance reflects robust growth across its cloud segments, particularly in Public Cloud and Private Cloud services.

Despite adjustments to its 2024 forecasts, OVHcloud confirmed its EBITDA margin expectations and predicted better cash generation. This comes after successfully generating €14 million in unlevered free cash flow, a milestone achieved six months ahead of schedule. The revised revenue growth projection now stands at 9-10% for the full year.