VNET Group, Inc. · NASDAQ:VNET
VNET — Investor Presentation (May 2022)
28 slides from VNET's investor presentation, May 2022
Slide 1: VNET Group, Inc. Investor Presentation May 2022
单击此处编辑母版标题样式 VNET Group, Inc. Investor Presentation May 2022
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: 1Q 2022 Highlights
单击此处编辑母版标题样式 1Q 2022 Highlights Financials (in RMB) Recent Financing Activity Revenue: 1,645 million (+18.6% YoY) US$250 million Adjusted EBITDA: 506 million (+21.9 % YoY) Convertible notes investment from Blackstone Retail & Wholesale Updates Capacity RMB 9,236 78,964 R total capacity Retail IDC MR
Slide 4: Largest Customer Order Wins in 1Q22
单击此处编辑母版标题样式 Largest Customer Order Wins in 1Q22 Capacity Contracted Region IDC Code Project Type / Under MoU (MW) BJ06 2 Wholesale Greater Beijing Area N-HB03 11 Wholesale Yangtze River Delta E-JS01 1 Wholesale Chengdu-Chongqing W-OR03 2 Wholesale Economic Circle Source: Company data. 4
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
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 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
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: Resource Pipeline to Support IDC Growth
单击此处编辑母版标题样式 Resource Pipeline to Support IDC Growth Region IDC Code Tenure Status Cabinet Delivery Plan BJ18 Leased Under Construction 2,300 Greater Beijing Area N-HB03 Leased Under Construction 1,200 N-HB Campus 02 Owned Under Construction 1,000 SH08 Owned Under Construction 3,300 Yangtze River De
Slide 12: 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) BJ12 9 Greater Beijing Area BJ15 7 N-HB02 47 E-JS Campus 01 42 E-JS01 4 E-JS02 64 Yangtze River Delta SH04 2 SH05 7 SH06 11 Other Region N-OR02 29 Total 222 Source: Company data as of Mar 31, 2022. Note:
Slide 13: 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) BJ06 2 Greater Beijing Area N-HB03 11 Yangtze River Delta E-JS01 1 Chengdu-Chongqing W-OR03 2 Economic Circle Other Region N-OR04 14 Total 30 Note: IT capacity numbers measured by megawatt are rou
Slide 14: 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) 60.0% 58.2% 58.7% 53.1% 54.5% 78,540 78,964 62,876 65,264 4,397 4,540 43,032 55,926 41,703 3,811 36,625 38,325 3,971 33,582 3,716 74,143 74,424 52,210 58,905 61,453
Slide 15: 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 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: 1Q22 Financial Highlights
单击此处编辑母版标题样式 1Q22 Financial Highlights RMB’MM 1Q21 4Q21 1Q22 YoY QoQ Net revenues 1,387 1,745 1,645 18.6% -5.7% Gross profit 323 380 356 10.0% -6.4% Adjusted cash gross profit(1) 605 714 685 13.1% -4.1% Adjusted cash gross margin 43.6% 40.9% 41.6% -2.0pps 0.7 pps Adjusted EBITDA(2) 416 463 506 21.9%
Slide 18: Margin Improvements Through Efficiency Enhancement
单击此处编辑母版标题样式 Margin Improvements Through Efficiency Enhancement Adjusted Cash Gross Profit & Margin (1) Adjusted EBITDA & Margin (2) (RMB mm) (RMB mm) 43.6% 42.8% 43.2% 40.9% 41.6% 29.9% 28.4% 28.9% 26.5% 30.8% 506 714 685 463 640 674 450 605 415 425 1Q21 2Q21 3Q21 4Q21 1Q22 1Q21 2Q21 3Q21 4Q21 1Q22
Slide 19: 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 Cash and Cash Equivalents and Short-term Investments (RMB MM) 4,943 (RMB MM) Credit line availability: RMB 908 mm unused 2021 Notes have 3,365 been fully redeemed 3,054 2,996 4,241 286 2,172 1,587 1,708
Slide 20: 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 Mar 31, 2022 4.5x 3.9x 2027 Convertible Bonds 3.7x 17.5% Borrowing 3.1x 36.6% 2.9x 3.0x 2.1x Adjusted for changes 1.4x in the fair value of convertible notes 2019 2020 2021 1Q22 2026 Convertible
Slide 21: Guidance
单击此处编辑母版标题样式 Guidance FY2022 Annual Guidance Remains Unchanged RMB MM 2021 Actual 2022 Guidance Implied YoY Revenues 6,190 7,450 - 7,750 20.4% - 25.2% Adjusted EBITDA 1,754 1,975 - 2,125 12.6% - 21.2% 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
单击此处编辑母版标题样式 Key P&L Items Amount in thousands Three months ended March 31, 2021 December 31, 2021 March 31, 2022 RMB RMB RMB US$ Net revenues 1,386,923 1,745,440 1,645,486 259,569 Cost of revenues (1,063,611) (1,365,472) (1,289,965) (203,487) Gross profit 323,312 379,968 355,521 56,082 Sales and ma
Slide 24: 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 March 31, 2021 December 31, 2021 March 31, 2022 RMB RMB RMB US$ Gross profit 323,312 379,968 355,521 56,082 Plus: depreciation and amortization 277,851 329,929 327,393 51,645 Plus: share-based compensation expenses
Slide 25: 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, 2020 December 31, 2021 RMB RMB US$ Cash, cash equivalents, Restricted cash and Short-term investments 1,708,473 3,364,890 530,798 Accounts and notes receivable, net 1,405,997 1,606,591 253,434 Property and equipment, net 10
Slide 26: 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 March 31, 2021 December 31, 2021 March 31, 2022 RMB RMB RMB US$ Net cash generated from operating activities 274,453 663,991 482,599 76,127 Net cash used in investing activities (620,815) (1,136,844) (1,032,758) (162,913) Net ca
Slide 27: 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 Capacity in service that is committed to customers and re
Slide 28: Thanks!
http://ir.vnet.com THANKS! Email: ir@vnet.com IR Contact: Xinyuan Liu