VNET Group, Inc. · NASDAQ:VNET
VNET — Investor Presentation (November 2022)
28 slides from VNET's investor presentation, November 2022
Slide 1: VNET Group, Inc. Investor Presentation
单击此处编辑母版标题样式 VNET Group, Inc. Investor Presentation November 2022
Slide 2: Disclaimer
Disclaimer 单击此处编辑母版标题样式 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: 3Q 2022 Highlights
3Q 2022 Highlights 单击此处编辑母版标题样式 Financials (in RMB) Unused Credit Line Revenue: 1,814 million (+16.3% YoY) RMB 1,485 million (+239 million in 3Q) Adjusted EBITDA: 455 million (+1.1 % YoY) Retail & Wholesale Updates Capacity RMB 9,287 82,660 R total capacity Retail IDC MRR(1) per cabinet 45,527 R uti
Slide 4: Largest Customer Order Wins
Largest Customer Order Wins 单击此处编辑母版标题样式 Capacity Contracted Signing Time of Region IDC Code Project Type Customer Sector / Under MoU (MW) (1) Contract / MoU Yangtze River Delta E-JS03 15 3Q22 Wholesale Cloud Service Financial Yangtze River Delta SH05 1 3Q22 Retail Institution Other Region N-OR06 33
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 ü A leading carrier-neutral and cloud-neutral data center services provider in China with 26 years of experience ü ~11%(1) market share of China’s carrier-neutral data center services market ü 195 approved and pen
Slide 7: Dual-Core Growth Strategy
Dual-Core Growth Strategy 单击此处编辑母版标题样式 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
ESG Initiatives – Commitment to Sustainability 单击此处编辑母版标题样式 Commitment to achieve both targets of carbon neutrality and 100% renewable energy usage by 2030 The average PUE of our stabilized data centers* was 1.37 in 2021, notably lower than the industry average Became a signatory of UN Global Compac
Slide 9: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 10: Differentiated Business Model with Comprehensive Offerings
Differentiated 单击此处编辑母版标题样式 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: Resource Pipeline to Support IDC Growth
Resource Pipeline to Support IDC Growth 单击此处编辑母版标题样式 Region IDC Code Tenure Status Cabinet Delivery Plan BJ13 (Extension) Leased Under Construction 500 Greater Beijing Area N-HB03 Leased Under Construction 1,300 E-JS03 Leased Under Construction 1,900 Yangtze River Delta SH04 (Extension) Owned In-Ser
Slide 12: Wholesale Projects In-Service
Wholesale Projects In-Service 单击此处编辑母版标题样式 Capacity Contracted / Region IDC Code Under MoU (MW) BJ06 2 BJ12 9 Greater Beijing Area BJ15 7 N-HB02 47 E-JS Campus 01 42 E-JS01 5 E-JS02 64 Yangtze River Delta SH04 2 SH05 7 SH06 11 N-OR02 29 Other Region N-OR04 14 Total 240 Source: Company data as of Sep
Slide 13: Wholesale Projects Under Construction
Wholesale Projects Under Construction 单击此处编辑母版标题样式 Capacity Contracted / Region IDC Code Under MoU (MW) Greater Beijing Area N-HB03 11 Yangtze River Delta E-JS03 15 W-OR03 2 Other Region N-OR05 15 Total 43 Source: Company data as of September 30, 2022. Note: IT capacity numbers measured by megawatt
Slide 14: Strategically Located Network of Premium Data Centers
Strategically 单击此处编辑母版标题样式 Located Network of Premium Data Centers Total Capacity (1) Utilized Capacity & Overall Utilization Rate (2) 78,540 78,964 80,831 82,660 58.7% 53.1% 54.5% 55.1% 55.1% 65,264 4,397 4,540 5,058 5,090 44,500 45,527 41,703 43,032 3,811 38,325 74,143 74,424 75,773 77,570 61,453
Slide 15: Large and Diversified Customer Base with Strong Loyalty
Large and Diversified Customer Base with Strong Loyalty 单击此处编辑母版标题样式 n >6,500 enterprise customers, of which >1,400 customers have enjoyed our colocation, connectivity, bare metal, hybrid cloud and maintenance services, etc. n Around 90% of net revenues have been recurring revenues since IPO n Low a
Slide 16: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 17: 3Q22 Financial Highlights
3Q22 Financial Highlights 单击此处编辑母版标题样式 RMB’MM 3Q21 2Q22 3Q22 YoY QoQ Net revenues 1,560 1,724 1,814 16.3% 5.2% Gross profit 375 358 317 -15.6% -11.5% Adjusted cash gross profit(1) 674 714 708 4.9% -0.8% Adjusted cash gross margin 43.2% 41.4% 39.0% -4.2 pps -2.4 pps Adjusted EBITDA(2) 450 487 455 1.1
Slide 18: Healthy Margins Through Efficiency Enhancement
Healthy Margins Through Efficiency Enhancement 单击此处编辑母版标题样式 Adjusted Cash Gross Profit & Margin (1) Adjusted EBITDA & Margin (2) (RMB mm) (RMB mm) 43.2% 40.9% 41.6% 41.4% 39.0% 28.9% 26.5% 30.8% 28.2% 25.1% 506 487 714 685 714 708 463 455 674 450 3Q21 4Q21 1Q22 2Q22 3Q22 3Q21 4Q21 1Q22 2Q22 3Q22 Adj
Slide 19: Well Laddered Debt Profile and Strong Liquidity Position
Well Laddered Debt Profile and Strong Liquidity Position 单击此处编辑母版标题样式 Debt Breakdown by Maturity Cash Position (1) (RMB MM) (RMB MM) Credit line availability: 5,598 RMB 1,485 mm unused 3,756 3,402 3,315 2,906 286 2,721 4,743 245 364 1,775 1,708 3,756 1,008 3,116 2,661 2,357 1,540 1,708 118 1,008 855
Slide 20: Healthy Capital Structure
Healthy Capital Structure 单击此处编辑母版标题样式 Total Debt & Net Debt / LQA Adjusted EBITDA1 Debt Structure as of September 30, 2022 5.4x 2027 Convertible Bonds Borrowing, 3.9x 17.9% 34.8% 3.7x 3.1x 3.5x 2.9x 2.1x Adjusted for changes in the fair value of 1.4x convertible notes 2026 Convertible Bonds Convert
Slide 21: Guidance
Guidance 单击此处编辑母版标题样式 RMB MM 2021 Actual 2022 Guidance Implied YoY Revenues 6,190 7,250 - 7,550 17.1% - 22.0% Adjusted EBITDA 1,754 1,800 - 1,950 2.6% - 11.2% Source: Company data. 21
Slide 22: Contents
CONTENTS 1. Company Overview 2. Business Overview 3. Financials Overview 4. Appendix
Slide 23: Key P&L Items
Key P&L Items 单击此处编辑母版标题样式 Amount in thousands Three months ended September 30, 2021 June 30, 2022 September 30, 2022 RMB RMB RMB US$ Net revenues 1,560,460 1,724,863 1,814,210 255,038 Cost of revenues (1,185,225) (1,367,086) (1,497,627) (210,533) Gross profit 375,235 357,777 316,583 44,505 Sales an
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations 单击此处编辑母版标题样式 Amount in thousands Three months ended September 30, 2021 June 30, 2022 September 30, 2022 RMB RMB RMB US$ Gross profit 375,235 357,777 316,583 44,505 Plus: depreciation and amortization 297,046 362,003 388,217 54,575 Plus: share-based compensation expen
Slide 25: Key Balance Sheet Items
Key Balance Sheet Items 单击此处编辑母版标题样式 Amount in thousands， As of December 31, 2021 September 30, 2022 RMB RMB US$ Cash, cash equivalents and Restricted cash 1,708,473 3,756,073 528,021 Accounts and notes receivable, net 1,405,997 1,683,961 236,727 Property and equipment, net 10,092,419 11,653,367 1,6
Slide 26: Key Cash Flow Items
Key Cash Flow Items 单击此处编辑母版标题样式 Amount in thousands Three months ended September 30, 2021 June 30, 2022 September 30, 2022 RMB RMB RMB US$ Net cash generated from operating activities 134,672 942,711 607,417 85,391 Net cash used in investing activities (1,492,614) (578,629) (614,482) (86,382) Net c
Slide 27: Definitions
Definitions 单击此处编辑母版标题样式 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 28: Thanks!
THANKS! http://ir.vnet.com Email: ir@vnet.com IR Contact: Xinyuan Liu