Ah well, I didn't say anything about profit, did I? Just utilisation. There may well be un-forecasted additional investment in building/fit-out new capacity, as well as differences between contracted utilisation and billable utilisation. Also we don't know the price/MW achieved in any new sales.
However, I agree that the existing forecasts for the FY look conservative/achievable, based on the single data point of P1 utilisation growth.
My investment in NXT has always been more of a longer-term one, based on a 3-5 year view of a regular annuity-style income for fully-utilised existing capacity. But if existing capacity gets utilised quicker, that accelerates the 3-5 year view into perhaps 2-4 years.
I am also encouraged by tie-ups with other major players including Microsoft, Telstra etc which position NXT as a respected player in this space. As well as those mysterious fibre-optic cables APX-West and APX-East which terminate / connect at P1.
NXT Price at posting:
$2.42 Sentiment: Buy Disclosure: Held
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