Northern Data Group Reports Strong FY 2024 Financial Performance

Northern Data Group released its audited financial results for FY 2024, showcasing impressive growth. The company reported a revenue of EUR 200 million, marking a substantial increase of 158% compared to the previous year. The cloud and data center segment alone generated EUR 121 million, a significant rise of 722% year-on-year.

The company achieved an adjusted EBITDA of EUR 73 million, a sharp turnaround from an adjusted EBITDA loss of EUR 5.5 million in FY 2023. The cash reserves stood at EUR 120 million, maintaining a robust financial position.

Looking ahead, Northern Data forecasts a revenue target between EUR 520 million and EUR 570 million for 2025. Plans to divest its Mining business aim to bolster its focus on AI and HPC solutions.