Can't build quick enough, page-12

It's the contracted utilisation. NXT wont be billing that much and they have said that much (2 year ramp up for the recent 9MW contract). Given NXT has contracted 9MW alone at S2 not hard to see why this year will have doubling in contracted sales. Given S1 was sold out a while back and S2 wont come online for a few months There is no net new billable revenue coming from Sydney. As Craig said in the May Morgans speech they built the gen 2 data centers 1.5 years too late. That's why we are seeing the soft numbers in revenue. We have no available capacity in the largest datacentre market in Australia. The billed revenue and financials might not look pretty for 6 -12 months till we play catch up. Hopefully we don't make the same mistake with S3 and M3. They will likely need to start construction next year to have them up and running in 3 years time.