Cordiant Digital Infrastructure Ltd (LSE:CORD, FRA:86L) said it expects to benefit from structural growth in demand for data centres and related assets, driven by rising data consumption, cloud adoption and artificial intelligence development.
The company acknowledged near-term headwinds from customer churn and project phasing but anticipated that new business wins would support momentum as the year progresses.
Management said the company remained well-positioned to deliver attractive long-term returns for shareholders, backed by resilient earnings and cash flows, strong operational performance, a diversified asset base and significant contracted revenues.
Cordiant reported that net asset value per share increased to 146.0p at 31 March from 129.6p a year earlier, generating a total return of 16.3% on the ex-dividend opening NAV, or 12.3% excluding foreign exchange impacts.
Since the end of the financial year, the share price has risen a further 22.7%.
The company's portfolio delivered adjusted earnings before interest, tax, depreciation and amortisation growth of 7.8% on a constant currency basis, excluding the recently acquired Datacenter United business, with revenue rising 9.9%.
Growth was driven by contract wins, contractual price escalators, cost management discipline and bolt-on acquisitions.
Cordiant completed groundworks and sewerage installation for its flagship Prague Gateway data centre development, which will have up to 26 megawatts of available power, and is moving into the main construction phase with a growing pipeline of prospective customers.
The company also completed a 1.3 megawatt expansion at its Žižkov facility in Prague and integrated four bolt-on acquisitions across fibre, data centre and media streaming assets in Ireland, Poland and the Czech Republic.
Revenue visibility is supported by £952.1 million of total contracted revenue across the portfolio for the remaining life of contracts.
The dividend in respect of the year increased 2.3% to 4.45p per share, with the company targeting the same payment going forward.
Over the past four years, Cordiant has delivered annualised dividend growth of 10.4%.
The company was admitted to the Financial Conduct Authority's Official List on 30 April 2026 and was included in the FTSE 250 index, with the inclusion becoming effective on 22 June 2026.
Since its listing in February 2021, Cordiant has achieved an annualised net asset value total return of 14%, ahead of its annual return target of 9%.
