OVH Group: Strasbourg fire could cost OVHcloud €105 million ($122m)

Oct 01, 2021 | Posted by Abdul-Rahman Oladimeji

OVHcloud could be seeing up to €105 million ($122m) leave its coffers because of the fire that destroyed its Strasbourg data center in March. The document the firm filed with a French financial authority is responsible for revealing this. Although insurance has covered most of the cost of the fire, the €105 million ($122m) is primarily a contingency fund. The company filed a transparency document with the French stock market regulator. This revealed the direct cost of the fire to its business.

The fire at the Strasbourg facility affected up to 65,000 customers, with many losing data and business. The €105 million ($122m) fee will cover some elements like potential customer claims for the damage caused by the fire. OVHcloud is also planning an IPO, but the fire could do real damage to its IPO.

OVHcloud had to submit a registration document to the French stock market regulator before the IPO could continue. The document revealed the financial implication of the fire on the company. It also revealed that the fire started from an energy room housing some electrical equipment in the facility. OVHcloud says it will be revealing the full details of the fire in 2022.

OVHCloud Strasbourg facility

{{ commentCount }} Comments