Entering a brand new era, French cloud giant OVHcloud has announced a €350 million ($378 million) share buyback alongside the appointment of Benjamin Revcolevschi as CEO. This strategic leadership shift and financial move mark a transformative phase for OVHcloud, as it aims to achieve sustainable cash flow by 2026.
Revcolevschi steps up from his role as Deputy CEO, replacing Michel Paulin, who led OVHcloud for six years. During his tenure, Paulin helped double OVHcloud’s revenue and expanded its reach.
Founder and chairman Octave Klaba praised Paulin for building a cloud ecosystem focused on affordability and sustainability. Now, Revcolevschi, an experienced IT and telecom leader, plans to sustain OVHcloud’s growth by targeting 10% annual revenue increases and an adjusted EBITDA margin above 40%.
In addition, the buyback, priced at €9.00 per share, offers shareholders a premium while enabling the founding Klaba family to raise their stake from 68% to 81%. OVHcloud intends to retire the repurchased shares, thus reducing capital to focus on long-term investors.
For fiscal 2025, OVHcloud aims for 9%-11% organic revenue growth along with a robust adjusted EBITDA margin of around 40%. This follows a highly successful fiscal 2024, in which the company’s revenue reached €993 million—a 10.3% organic increase. Moving forward, OVHcloud also plans continued capital investments while prioritizing free cash flow.
The buyback awaits shareholder approval in December, when investors will also vote on Revcolevschi’s board position. Ultimately, this meeting marks a new chapter as OVHcloud strengthens its financial foundation to drive innovation in the evolving digital economy.
