Record Contracted Utilisation and A$2.2bn Capital Plan
| Stock | NEXTDC Ltd (NXT.ASX) |
|---|---|
| Release Time | 20 Apr 2026, 7:47 a.m. |
| Price Sensitive | Yes |
Record Contracted Utilisation and A$2.2bn Capital Plan
- Record 250MW increase in contracted utilisation at S4, taking pro forma contracted utilisation to 667MW
- Record pro forma Forward Order Book as at 31 March 2026 of 544MW (up 83% since 31 December 2025)
- A$1.5 billion fully underwritten Entitlement Offer and A$700 million increase in Hybrid Securities Offer
NEXTDC Limited (ASX: NXT) is pleased to announce a transformational increase in the company's contracted utilisation, with pro forma contracted utilisation as at 31 March 2026 increasing by approximately 250MW (60%) to 667MW. NEXTDC's pro forma Forward Order Book as at 31 March 2026 has also increased by 247MW (83%) to 544MW over the same period. In response to this step change in contracted utilisation and the accelerated deployment of S4, NEXTDC is undertaking a capital raising of approximately A$1.5 billion by way of a fully underwritten 1 for 5.4 pro-rata accelerated non-renounceable entitlement offer. Additionally, the company is increasing the Hybrid Securities Offer by A$700 million through a new delayed draw tranche, with La Caisse making an incremental A$700 million binding commitment. The net proceeds will be used to invest in capacity to support delivery of NEXTDC's pro forma Forward Order Book, including the 250MW increase in contracted utilisation. NEXTDC intends to invest approximately A$1.5 billion in the accelerated development of contracted utilisation at S4 through to the end of FY27 to align with initial delivery requirements. The company continues to evaluate Western Sydney capital partnership structures with third-party investors as projects progress and value creation opportunities are optimised.
NEXTDC's pro forma Forward Order Book as at 31 March 2026 is expected to generate estimated EBITDA in excess of A$1.0 billion on a contracted basis, representing over 4x the mid-point of FY26 EBITDA guidance of A$235 million.
NEXTDC anticipates a continued level of heightened capital expenditure to be sustained through FY27, with capex for FY27 currently forecasted to be approximately A$5.0 billion against the backdrop of the company's record Forward Order Book and accelerated delivery of S4.