OVHCloud results show its November price hike will be a nice little earner
to hike prices"approximately ten percent" effective November 1 for public cloud services and December 1 for bare metal systems.[PDF] states"electricity costs in 2023 to be around mid to high-single digit percentage of its revenue, up compared to mid-single digit in 2022." That's considerably less than 10 per cent.
"We are all very aware that the current macroeconomic situation is uncertain with a high level of inflation globally," CEO Michael Paulin said on Wednesday's earnings call for the 2022 financial year."The price increases announced will mitigate inflation on overall cost. Overall, we expect our pricing to allow us to maintain the company margin in 2023."
Overall the cloudy biz grew revenues 18.8 per cent to €788 million in 2022, now expects to grow organic revenue by 14–16 percent year over year. It reported a reduced loss of €29 million, saying it was"focusing on the growth of its business and does not plan to distribute dividends in the medium term."
On the call, Paulin assured analysts that the price increases were in line with those made by major public cloud providers – GCP, AWS, and Azure – and that the company had yet to face much if any blowback over the decision."Following the announcement, customer dynamics and demand were unaffected, and we haven't seen much pushback at all," he said."These increases were fully expected by our customers and are industry wide.
It should be noted that customers are unlikely to feel the price hike until at least the end of their next billing cycle, making the company's Q1 revenues a better bellwether for how people are likely to react.
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