Jason Boyes (Infratil)
CDC Data Centres is accelerating its construction programme as the AI boom delivers what it describes as a "significant uptick" in customer interest.
Major shareholder Infratil today announced the value of its 47.99 per cent stake had increased by around A$448 million during the six months to 30 September.
An independent valuation valued Infratil's investment at between A$3.64 billion to A$4.19 billion with a midpoint of A$3.88 billion. That was up from A$3.15 billion to A$3.74 billion with a midpoint of A$3.44 billion.
Rapid adoption of artificial intelligence had also emerged as a major growth driver.
“CDC’s data centre design, operating model and customer base is strategically positioned to benefit from the new growth in demand for artificial intelligence services," Infratil CEO Jason Boyes said.
"These market dynamics have seen a significant uptick in inbound customer interest. In response to this demand CDC is expecting a significant acceleration of construction and expansion of development planning in all locations – Canberra, Sydney, Melbourne and Auckland."
Credit: Supplied The 30 September 2023 valuation assumes 268MW of existing operating facilities, another 265MW currently under construction and 517MW classified as future builds to 2028.
This represented an increase of 223MW under construction and a total additional capacity including future builds of 264MW since 31 March 2023.
CDC already had access to the vast majority of the land required to complete these builds, Infratril said.
CDC has total operating capacity of 268MW with 265MW more under construction and 517MW more planned.
Of that, 28MW of current capacity was in New Zealand with 30MW more under construction and 81MW more planned. The balance was in datacentres spread across Canberra, Sydney and Melbourne.
CDC’s 2024 full-year EBITDAF guidance of A$260 million to $270 million remained unchanged.
The company's New Zealand business made a pre-tax profit of NZ$249.4 million according to its first financial report filed with the NZ Companies Office.
Total revenue for the year to 31 March was NZ$23 million with operating profit was NZ$10.9 million before CDC reported $240.9 million in property revaluation gains, helping to propel operating profits to NZ$251.8 million.
