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Hello, and welcome to the OVHcloud H1 for Year 2023 Results Call. My name is Caroline, and I will be your coordinator for today's event. (Operator Instructions) Please note, this conference is being recorded. Today's speaker will be Michel Paulin, the CEO; and Stephanie Besnier, the CFO.
I now hand over to OVH team to begin today's conference. Thank you.
Hello, everyone. Good morning. This is Michel Paulin, the CEO of OVHcloud. Thank you for joining us today for our H1 2023 results. This first semester has been a period of growth acceleration. Our revenue reached EUR 439 million at 15% as reported and 12.8% like-for-like, with the Q2 growing at plus 13.9% after a Q1 at 11.7%. We had a strong growth acceleration.
Our H1 adjusted EBITDA reached EUR 156 million, leading to a margin of 35.4%. Higher-than-expected energy costs in Germany and the timing of outsizing of our price increases meant the EBITDA was modestly below our initial expectation.
We continue to monitor our investment
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