The logo of French cloud computing company OVHcloud is seen on a data center building in Strasbourg, France, October 13, 2021. REUTERS/Christian Hartmann

June 30 (Reuters) – French cloud services provider OVHcloud (OVH.PA) on Thursday raised its revenue growth target for the full year, business momentum in its private cloud segments and public that boosted its sales in the third quarter.

Europe’s leading cloud provider now expects revenue to grow between 16% and 18% in the twelve months to August 31, compared to its previous estimate of 15% to 17%.

Cloud computing services have seen their demand skyrocket in recent years, becoming a major growth engine for major tech companies such as Amazon (AMZN.O), Microsoft (MSFT.O) and Alphabet (GOOGL.O) Google.

OVHcloud, which made its market debut in October in one of the biggest new listings in Paris in 2021, saw its third-quarter revenue increase by 25% to 202 million euros (211 million euros). dollars), or 11.7% on a like-for-like basis.

The figure excludes the direct impacts of the fire which last March destroyed four of its data centers in Strasbourg, the group said.

“This good performance reflects the group’s ability to win new customers, mainly in the Public Cloud and the Private Cloud, as well as the success of its international development,” CEO Michel Paulin said in a statement.

Revenues for OVHcloud’s private and public cloud segments grew like-for-like by 14.6% and 19.4%, respectively, both showing gains in average revenue per active customer.

The group maintained its core profit margin (EBITDA) target of almost 40% for the full year, as well as its guidance for 2025.

($1 = 0.9563 euros)

Reporting by Dagmarah Mackos; edited by Milla Nissi

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