VNET Group, Inc. · NASDAQ:VNET
VNET — Investor Presentation (March 2023)
29 slides from VNET's investor presentation, March 2023
Slide 1: VNET Group, Inc. Investor Presentation
单击此处编辑母版标题样式 VNET Group, Inc. Investor Presentation March 2023
Slide 2: Disclaimer
单击此处编辑母版标题样式 Disclaimer This presentation includes “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements regarding expected future events, business prospectus or financial results. The words “expect”, “anticipate”,
Slide 3: 4Q 2022 Highlights
单击此处编辑母版标题样式 4Q 2022 Highlights Financials (in RMB) Unused Credit Line Revenue: 1,881 million (+7.7% YoY) RMB 3,164 million (+1,679 million in 4Q) Adjusted EBITDA: 424 million (-8.3% YoY) Retail & Wholesale Updates Capacity RMB 9,371 87,322 R total capacity Retail IDC MRR(1) per cabinet 48,016 R uti
Slide 4: Largest Customer Order Wins
单击此处编辑母版标题样式 1. 增加了1个retail order, 4MW; Largest Customer Order Wins 2. 请问抖音是否还放在4Q22 Capacity Contracted Signing Time of Region IDC Code Project Type Customer Sector / Under MoU (MW) (1) Contract / MoU Other Region N-OR06 33 4Q22 Wholesale Internet Greater Beijing Area N-HB01 4 4Q22 Retail Local Ser
Slide 5: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 6: Pioneer and Leader in China's Fast Growing IDC Market
A单击此处编辑母版标题样式 Pioneer and Leader in China’s Fast Growing IDC Market Pioneer and Leader ✓ A leading carrier-neutral and cloud-neutral data center services provider in China with 26 years of experience ✓ ~11%(1) market share of China’s carrier-neutral data center services market ✓ 220 approved and pen
Slide 7: Dual-Core Growth Strategy
单击此处编辑母版标题样式 Dual-Core Growth Strategy Retail Wholesale Retail Colocation Full-stack Services Hyperscale IDC Interconnection Services Focusing on high-growth verticals which require colocation space, connectivity, Targeting hyperscalers which require huge amount of space and power to bare-metal, and
Slide 8: ESG Initiatives – Commitment to Sustainability
单击此处编辑母版标题样式 ESG Initiatives – Commitment to Sustainability Commitment to achieve both targets of carbon neutrality and 100% renewable energy usage by 2030 Received A rating by MSCI, representing the highest ranking to-date in China’s Internet Services & Infrastructure industry Scored 57 by the S&P
Slide 9: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 10: Differentiated Business Model with Comprehensive Offerings
单击此处编辑母版标题样式 Differentiated Business Model with Comprehensive Offerings Managed Hosting Services Cloud Services VPN Services1 (IDC) • Co-location • Multi-protocol Label Switching (MPLS) & Software-defined Wide Area Network • Inter-connectivity (SD-WAN) • Hybrid IT Services • Internet Access & Networ
Slide 11: 2022 Cabinet Delivery
单击此处编辑母版标题样式 2022 Cabinet Delivery Region IDC Code Tenure Status Cabinet Delivered in 2022 BJ13 (Extension) Leased In-Service 500 Greater Beijing Area N-HB03 Leased In-Service 1,300 E-JS03 Leased In-Service 1,900 Yangtze River Delta SH04 (Extension) Owned In-Service 300 N-OR03 Owned In-Service 1,300
Slide 12: 2023 Resource Pipeline to Support IDC Growth
单击此处编辑母版标题样式 2023 Resource Pipeline to Support IDC Growth Region IDC Code Tenure Status Cabinet Delivery Plan BJ17 Leased Under Construction 750 Greater Beijing Area BJ18 Owned Under Construction 2,300 E-JS Campus 02 A Owned Under Construction 1,000 Yangtze River Delta E-JS Campus 02 B Owned Under C
Slide 13: Wholesale Projects In-Service
单击此处编辑母版标题样式 Wholesale Projects In-Service Capacity Contracted / Region IDC Code Under MoU (MW) BJ06 2 BJ12 9 Greater Beijing Area BJ15 7 N-HB02 47 N-HB03 11 E-JS Campus 01 42 E-JS01 5 E-JS02 64 Yangtze River Delta E-JS03 15 SH04 2 SH05 7 SH06 11 N-OR02 29 Other Region N-OR04 14 N-OR05 15 Total 281
Slide 14: Wholesale Projects Under Construction
单击此处编辑母版标题样式 Wholesale Projects Under Construction Capacity Contracted / Region IDC Code Under MoU (MW) W-OR03 2 Other Region N-OR06 33 Total 35 Source: Company data as of December 31, 2022. Note: IT capacity numbers measured by megawatt are rounded. 14
Slide 15: Strategically Located Network of Premium Data Centers
单击此处编辑母版标题样式 Strategically Located Network of Premium Data Centers Total Capacity (1) Utilized Capacity & Overall Utilization Rate (2) 82,660 87,322 53.1% 54.5% 55.1% 55.1% 55.0% 78,540 78,964 80,831 4,741 4,397 4,540 5,058 5,090 48,016 43,032 44,500 45,527 41,703 74,143 74,424 75,773 77,570 82,581
Slide 16: Large and Diversified Customer Base with Strong Loyalty
单击此处编辑母版标题样式 Large and Diversified Customer Base with Strong Loyalty ◼ >7,000 enterprise customers, of which >1,400 customers have enjoyed our colocation, connectivity, bare metal, hybrid cloud and maintenance services, etc. ◼ Around 90% of net revenues have been recurring revenues since IPO ◼ Low a
Slide 17: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 18: 4Q22 and FY2022 Financial Highlights
单击此处编辑母版标题样式 4Q22 and FY2022 Financial highlights RMB’MM 4Q21 3Q22 4Q22 YoY QoQ FY2021 FY2022 YoY Net revenues 1,745 1,814 1,881 7.7% 3.7% 6,190 7,065 14.1% Gross profit 380 317 328 -13.6% 3.7% 1,438 1,358 -5.5% Adjusted cash gross profit(1) 714 708 740 3.7% 4.6% 2,634 2,846 8.1% Adjusted cash gross
Slide 19: Healthy Margins Through Efficiency Enhancement
单击此处编辑母版标题样式 Healthy Margins Through Efficiency Enhancement Adjusted Cash Gross Profit & Margin (1) Adjusted EBITDA & Margin (2) (RMB mm) (RMB mm) 40.9% 41.6% 41.4% 39.0% 39.4% 26.5% 30.8% 28.2% 25.1% 22.6% 740 506 487 714 685 714 708 463 455 424 4Q21 1Q22 2Q22 3Q22 4Q22 4Q21 1Q22 2Q22 3Q22 4Q22 Adj
Slide 20: Well Laddered Debt Profile and Strong Liquidity Position
单击此处编辑母版标题样式 Well Laddered Debt Profile and Strong Liquidity Position Debt Breakdown by Maturity 6,635 Cash Position (1) (RMB MM) (RMB MM) Credit line availability: RMB 3,164mm unused 3,402 5,920 2,906 286 2,989 2,721 245 364 1,708 1,537 1,013 3,116 2,989 988 2,661 2,357 474 1,537 1,708 1,013 715 51
Slide 21: Healthy Capital Structure
单击此处编辑母版标题样式 Healthy Capital Structure Total Debt & Net Debt / LQA Adjusted EBITDA1 Debt Structure as of December 31, 2022 5.8x 2027 Convertible Bonds Borrowing 17.7% 35.8% 3.9x 3.7x 3.1x 4.2x 2.9x Adjusted for changes 2.1x in the fair value of 1.4x convertible notes 2019 2020 2021 2022 2026 Convert
Slide 22: Guidance
单击此处编辑母版标题样式 Guidance RMB MM 2022 Actual 2023 Guidance Implied YoY Revenues 7,065 7,600 - 7,900 7.6% - 11.8% Adjusted EBITDA 1,873 2,025 - 2,125 8.1% - 13.5% Source: Company data. 22
Slide 23: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 24: Key P&L Items
单击此处编辑母版标题样式 Key P&L Items Amount in thousands Three months ended Twelve months ended December 31, 2021 September 30, 2022 December 31, 2022 December 31, 2021 December 31, 2022 RMB RMB RMB US$ RMB RMB US$ Net revenues 1,745,440 1,814,210 1,880,673 272,672 6,189,801 7,065,232 1,024,362 Cost of revenu
Slide 25: GAAP to Non-GAAP Reconciliations
单击此处编辑母版标题样式 GAAP to Non-GAAP Reconciliations Amount in thousands Three months ended Twelve months ended December 31, 2021 September 30, 2022 December 31, 2022 December 31, 2021 December 31, 2022 RMB RMB RMB US$ RMB RMB US$ Gross profit 379,968 316,583 328,375 47,610 1,438,030 1,358,256 196,929 Plus
Slide 26: Key Balance Sheet Items
单击此处编辑母版标题样式 Key Balance Sheet Items Amount in thousands, As of December 31, 2021 December 31, 2022 RMB RMB US$ Cash, cash equivalents and Restricted cash 1,708,473 2,989,494 433,435 Accounts and notes receivable, net 1,405,997 1,763,693 255,711 Property and equipment, net 10,092,419 11,964,498 1,73
Slide 27: Key Cash Flow Items
单击此处编辑母版标题样式 Key Cash Flow Items Amount in thousands Three months ended December 31, 2021 September 30, 2022 December 31, 2022 RMB RMB RMB US$ Net cash generated from operating activities 663,991 607,417 569,567 82,578 Net cash used in investing activities (1,136,844) (614,482) (1,333,383) (193,322)
Slide 28: Definitions
单击此处编辑母版标题样式 Definitions Term Definition Capacity In Service Data centers which are ready for service Capacity Under Construction Data centers which are actively under construction and have not yet reached the stage of being ready for service Utilized Capacity Capacity in service that is committed t
Slide 29: Thanks!
http://ir.vnet.com THANKS! Email: ir@vnet.com IR Contact: Xinyuan Liu