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Northern Data Group announces strong Q3 2024 Results, reaffirms 2024 guidance

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Q3 2024 revenue of EUR 59 million, up 235% year-on-year and adjusted EBITDA of EUR 25 millionThe combined Cloud and Data Centers Q3 2024 revenue was EUR 48 million, up 296% from Q2 2024, and was more than ten times higher than Q3 2023, driven by the ongoing GPU deployment and the onboarding of customersBuilding the foundations of our AI platform at a pace:19,000 NVIDIA H100 Tensor Core GPUs delivered and/or deployed, with rollout of 2,000 NVIDIA H200 Tensor Core GPUs in late Q4Pittsburgh, Pennsylvania data center retrofit progressing on 20MW facility: first 5MW for Q1 2025On track to meet FY 2024 revenue target of EUR 200 million – EUR 240 million, tripling that of 2023, and adjusted EBITDA of EUR 50 million – EUR 80 millionSuccessful capital raise of EUR 214 million announced in July which has funded further strategic investmentsFRANKFURT, Germany, Oct. 17, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (“Northern Data Group” or “the Group”), a leading provider of AI and High-Performance Computing (HPC) solutions, today announces its Q3 2024 financial results, and reaffirms its FY 2024 guidance.

Revenue in Q3 2024 was EUR 59 million, 235% over the prior year and the third consecutive quarter of strong sequential growth in our Cloud business. The strong revenue growth was the result of the ongoing GPU deployment and onboarding of customers by the Cloud business. Adjusted EBITDA in Q3 2024 was EUR 25 million, significantly higher than the previous quarter. 
In Q3 2024 we saw a momentum shift in the Cloud business with the ongoing roll out of NVIDIA H100 Tensor Core GPUs, reinforcing that 2024 is a year of delivery and execution. This successful onboarding of key customers helped drive record performance for the Group’s Cloud platform, with revenue of EUR 48 million, representing 80% of Group revenue for the quarter. 
The Group is on track to deliver full year 2024 revenue of EUR 200 million – EUR 240 million
(FY 2023: EUR 77 million) and adjusted EBITDA to be in the range of EUR 50 million – EUR 80 million.  The Group expects full year 2025 revenues of EUR 520 million – EUR 570 million and adjusted EBITDA of EUR 300 million – EUR 350 million.
Operational execution and financial strength provide solid foundations for continued growth
Strategic partnerships, and the EUR 214 million capital raise announced in July 2024 strengthened the Group’s ability to meet growing HPC demand and broaden its presence in the growing AI ecosystem while demonstrating confidence in the Group’s strategic direction and investment strategy. Highlights included: 
Cloud – Partnership with Supermicro announced to roll out NVIDIA H200 Tensor Core GPUs, further expanding GenAI offering and demonstrating commitment to providing best-in-class technology to its customers. The additional GPU capacity is set to be rolled out in late Q4.  Data Centers – Continued the retrofit the recently acquired data center in Pittsburgh, Pennsylvania, into a cutting-edge, high-density data center environment. Multiple other acquisition prospects continued to be assessed in Due Diligence. Mining – Corpus Christi, Texas coming online in Q3, and remains on track to deliver expected 7.9EH/s by year-end.  Aroosh Thillainathan, Founder and CEO, Northern Data Group, commented:  
“Q3 has seen a real step-change for the Group. We’ve done what we set out to do – we’ve doubled down on our AI and HPC ambition and leveraged strategic partnerships and investments to boost the Group’s market position.”
“Our successful deployment of NVIDIA H100 Tensor Core GPUs sets us on a strong course for the rest of the year, to meet both our ambitious targets and 2024 financial guidance.”
“We are focused on building our market-leading AI and HPC offering. We’re growing, scaling and delivering, and I’m looking forward to enabling our customers reach their Generative AI ambitions.” 
Results presentation and webcast:
A presentation for investors and analysts will be held today, 17th October 2024, at 4:00 PM CET.
This conference call will be available through an audio webcast. Please use this link to register. 
Additionally, analysts can join the conference call using their local dial- in number:
Germany Toll-Free: +49 800 0009712
United Kingdom/International Toll-Free: +44 800 358 1035
United States Toll-Free: +1 855 979 6654
Global dial in numbers can be found here
Access code required: 183303
A replay of the conference call will be available through the Investor Relations section of the Northern Data Group website at Publications (northerndata.de)
About Northern Data Group:
Northern Data Group is a leading provider of AI and High-Performance Computing (HPC) solutions, leveraging high-density, liquid-cooled, GPU-based technology to empower the world’s most innovative organizations. Together with our partners, we are passionate about the potential of HPC to drive not only technological advancements but also societal progress.
Disclaimer: 
This IR release contains forward-looking statements. These statements are based on the current views, expectations, assumptions and information of the management, and are based on information currently available to the management. Forward-looking statements shall not be construed as a promise for the materialisation of future results and developments and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, affecting the Company, and other factors. Neither the Company nor any of its affiliates assumes any obligations to update any forward-looking statements.  

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Exyte launches new brand identity Exentec for its business area Technology & Services

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Exentec unites Exyte’s global Technology & Services subsidiaries and sub brandsNew brand identity provides clear, relevant, and credible positioning for clients and stakeholders Exentec combines the words excellence, expertise, and experience with cutting-edge technologyExyte CEO Büchele: “The new brand is the next logical step for our Technology & Services segment, which has so far exceeded all growth and development expectations.”STUTTGART, Germany , Oct. 17, 2024 /PRNewswire/ — Exyte today announced the new name and brand identity Exentec for its business area Technology & Services, a leading global provider of advanced cleanroom and production environment solutions. In the future, the business area and its associated subsidiaries and brands will operate globally under the name Exentec. As a member of the Exyte Group, Exentec is committed to supporting high-tech industries with innovative solutions in response to rapid growth and market demands. Starting from early 2025, Exentec will bring all aspects of the business area under one cohesive brand identity.

The development of the business area Technology & Services is a strategic field of action within Exyte’s future agenda “Next Level”. The transition to Exentec aligns with this strategy. Since its formation in 2020, Technology & Services has expanded through multiple strategic acquisitions, positioning itself as a key player in sectors such as life sciences, advanced technology facilities, and high-precision manufacturing. The comprehensive company portfolio enables the business area to offer complete solutions across its target industries. Now, with a unified approach to the business area, Exentec can focus on and drive further growth.
New brand identity reflects commitment to innovation and growth
The launch of the brand Exentec comes at a pivotal time for Technology & Services. As the business area grows in critical industries, the new brand identity provides a clear, relevant, and credible positioning for clients and stakeholders. Exentec reflects the commitment to delivering advanced, client-centric technical solutions. The new name and brand will enhance the company’s visibility in an increasingly competitive landscape. As a distinct entity within the Exyte Group, Exentec aims to deepen its relationships with its growing client base, offering tailored solutions that meet the evolving needs of the global high-tech industries.
“Exentec will continue building on the foundation that Technology & Services established. The new brand aligns with our commitment to delivering world-class solutions while staying focused on client needs and market dynamics,” says Dr. Wolfgang Büchele, CEO of Exyte. “Since the inception of Technology & Services, the business area has exceeded all growth and development expectations. The new brand is the next logical step to continue the growth story because a strong brand is crucial for sustainable success in our rapidly changing industry. Exentec will provide us with the visibility and differentiation we need to continue growing and achieving our goals.”
Dr. Michael Löffelmann, Senior Vice President Operations Technology & Services, and Rafael Perez, Senior Vice President Finance Technology & Services, will continue to lead Technology & Services under the Exentec brand. Löffelmann explains, “As a result of our growth strategy, the brand portfolio of Technology & Services has become increasingly complex, even in the perception of our clients. Exentec creates a distinct identity that now represents our entire portfolio. The new brand enables us to better serve and communicate with our clients, while simultaneously highlighting Exentec’s unique service offerings and its commitment to innovation, sustainability, and growth.”
Exentec: Combining expertise, excellence, and experience with technology
Exentec is positioned as a future-focused and agile company, operating within the high-tech industry space. With a focus on reliability, risk-awareness, and innovation, Exentec embraces energy-efficient designs, automation, and advanced production. Exentec provides mission-critical services and technologies, delivering solutions that are essential for the high-tech industries it serves.
By supporting its clients in a rapidly evolving marketplace, Exentec ensures they remain competitive while driving technological advancements. The name Exentec expresses technological excellence and exceeding the limits by combining the words excellence, expertise, and experience with cutting-edge technology to meet the growing demands of tomorrow’s industries.
Extensive range of products, systems, and services
Since its formation in 2020, Technology & Services has expanded its portfolio through multiple strategic acquisitions. In 2021, Exyte acquired the former Critical Process Systems Group (CPS). The seven associated companies are known for providing integrated solutions for process-critical environments. The portfolio of Technology & Services also includes Airgard, a specialist in exhaust gas cleaning systems and Intega, a specialist in cleanroom technology and high-precision production systems. US based company CollabraTech focuses on specialized engineering and technical consulting services. On October 16th, Exyte announced the completion of the acquisition of Kinetics, a globally leading provider of installation services, equipment, as well as technical facility management.
The business area also includes Exyte Technology, who develops, manufactures, and maintains controlled production environments and cleanroom products. Exyte Services provides technical installation services for high-tech facilities, particularly in Asia. In the USA Total Facility Solutions (TFS) provides solutions that are designed to deliver mechanical, electrical, and process piping systems to various markets. Exyte Hargreaves is a UK leader in construction and engineering of HVAC and specialist ventilation systems for safety critical facilities.
About Exyte
Exyte is a global leader in the design, engineering, and delivery of ultra-clean and sustainable facilities for high-tech industries. With cutting-edge expertise developed over more than a century, the company serves clients in the sophisticated markets of semiconductors, battery cells, pharmaceuticals, biotechnology, and data centers. Exyte offers a full range of services from consulting to managing the implementation of built complete solutions with the highest standards in safety and quality to its customers worldwide. Exyte creates a better future by enabling key industries to enhance the quality of modern life. In 2023, the company generated sales of €7.1 billion with around 9.900 employees worldwide. www.exyte.net
Contact Samy Abdel Aal Public Relations Manager
Phone: +49 711 880 44 696 Mobile: +49 172 840 33 01 [email protected]
Logo – https://mma.prnewswire.com/media/2532386/Exentec_Logo.jpgLogo – https://mma.prnewswire.com/media/1487100/Exyte_Logo.jpg
 
 

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atNorth Bolsters Development Team with Three Key New Hires

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The strengthening of the development team is a crucial part of the business’s rapid Nordic expansion strategy.
REYKJAVÍK, Iceland, Oct. 17, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider, has announced three key new members of its Development Team as the business continues to scale to meet the increasing demand for its services.

Charlotte Ware, Design Director.Charlotte joined atNorth in September 2023 as an Engineering Manager. Her extensive technical knowledge and commitment to sustainability have led her to be promoted into this key new role. Based at atNorth’s SWE01 site, Charlotte will lead atNorth’s data center design team to deliver the continuous evolution of atNorth’s reference data center design.Chris Larsen, Chief Technical Officer.Chris brings a wealth of expertise from the international data center world managing technical teams, driving standardization and process implementation. Based at atNorth’s DEN01 site in Denmark, Chris will play a crucial role for atNorth in overseeing the creation and implementation of technology strategies while also monitoring sustainability and market trends to ensure client requirements are translated into atNorth’s designs.Jack Bölja, Excellence Director.Jack’s client and contractor background has provided a broad experience in developing critical infrastructure projects. Based at atNorth’s SWE01 site in Sweden, Jack will lead the optimization of atNorth’s supplier relations to streamline contract development and performance workflows in line with atNorth’s expansion goals.All roles report to atNorth’s Chief Development Officer, Anna Kristín Pálsdóttir.
atNorth’s data center expansion strategy is part of an ongoing program of continuous innovation and improvement that enables the company to adapt to the growing demand for high performance and sustainable infrastructure.
“As the demand for our services continues to increase it is essential that we scale in an innovative, efficient and sustainable way to meet the future needs of hyperscalers and other data driven global enterprises” says Anna Kristín Pálsdóttir, Chief Development Officer at atNorth. “Our hiring strategy reflects this mission, and we are delighted to welcome these new additions to our Development Team”.
The news follows the appointment of Jeff Kjeldsen as Operations Director for Denmark,  Taina Ahti-Aalto as Operations Director for Finland, Jörgen Larsson as Director of Hyperscale Operations and that of Anna Kristín Pálsdóttir as Chief Development Officer earlier this year. The hires evidence atNorth’s continued commitment to building a talented workforce to fuel its significant growth strategy.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high performance workloads. 
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Ballerup, Denmark in early 2025, as well as its tenth site in development in Kouvola, Finland and its eleventh site in Ølgod, Denmark.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected] 
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/atnorth/r/atnorth-bolsters-development-team-with-three-key-new-hires,c4052007
The following files are available for download:
https://mb.cision.com/Main/18907/4052007/3057090.pdf
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https://news.cision.com/atnorth/i/charlotte-chris-jack,c3342768
Charlotte Chris Jack
 

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IoT Project of the Year 2024: Wialon Announces Global Winners of IoT Competition

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Sixteen winners, recognized for implementing the best IoT projects worldwide over the past year, are announced across eight categories, including Grand Prix awards.
VILNIUS, Lithuania, Oct. 17, 2024 /PRNewswire/ — Wialon, one of the world’s leading IoT and fleet management platforms, developed by European software company Gurtam, has revealed the winners of its worldwide competition for the best IoT project of the year 2024. The winners were revealed just ahead of GITEX Global in Dubai, marking a celebration of groundbreaking IoT innovations from around the world.

 
 
The IoT project of the year was held for the fourth time in a row. It’s open to projects implemented by any technology companies and telematics service providers. The contest underscores the potential of Wialon and other IoT solutions by showcasing real-world applications that solve critical business challenges. This initiative aims to foster the growth of the IoT industry, spark inspiration, and encourage companies to explore how IoT can transform their business operations.
More than 100 projects and entries from 45 countries competed for this year’s awards, as Wialon’s global competition aims to recognize and showcase the most innovative IoT, fleet, and asset management projects worldwide. The diversity of the winners reflects the global impact of IoT solutions. This year, 16 winners were announced, representing projects from the USA, Mexico, Honduras, India, Lebanon, Kenya, the Netherlands, Nigeria, South Africa, Tajikistan, Turkey, and many other countries.
These projects reveal important trends in the IoT and fleet management industries. There is a clear focus on enhancing operational efficiency, particularly through real-time monitoring, fuel management, and driver behavior tracking. Many of the projects also highlight the importance of safety and security, from preventing fuel theft in transportation and logistics to improving driving standards in public and industrial fleets. Additionally, sustainability is becoming a key factor, with projects addressing fuel consumption, CO2 emissions, and the overall environmental impact of operations.
Aliaksandr Kuushynau, Head of Wialon at Gurtam , expressed pride in the growing scope of the competition and the incredible variety of innovative solutions on display. “As Wialon continues to expand, tracking over 4 million vehicles across 150 countries, we remain committed to supporting the evolution of the IoT industry. The IoT project of the year competition not only celebrates the incredible expertise of our partners but also illustrates the transformative impact that IoT solutions can have on businesses worldwide.”
IoT and telematics technology is now the backbone of operational efficiency, as businesses and supply chains worldwide rely on humans and machines working efficiently together. The vast fleets of vehicles, devices and equipment that underpin life and business today need careful management, complex monitoring, insightful analysis and real-time reactions.
About Wialon
Wialon is one of the largest IoT, telematics and fleet management software platforms worldwide, connecting and tracking over 4 million vehicles in 150 countries. The platform works with over 2,700 partner companies: telematics solutions providers and developers, IoT integrators, fleet management service providers or security solutions providers.
Photo: https://mma.prnewswire.com/media/2529773/Wialon.jpg
 

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