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21Vianet Group, Inc. Reports Second Quarter 2012 Financial Results

Stocks in this article: VNET

2 Q12 Net Revenues Up 58.2% YOY to RMB364.5 Million

2 Q12 Adjusted EBITDA Up 49.3 % YOY to RMB7 0.4 Million

2 Q12 Adjusted Net Profit Up 10.7 % YOY to RMB3 7.6 Million

Live Conference Call to be Held at 8:00 AM U.S. Eastern Time, August 17 , 2012

BEIJING, Aug. 16, 2012 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq:VNET) ("21Vianet" or the "Company"), the largest carrier-neutral Internet data center services provider in China, today announced its unaudited financial results for the second quarter of 2012. The Company will hold a conference call at 8:00 a.m. Eastern Time on August 17, 2012. Dial-in details are provided at the end of the release.

Second Quarter 2012 Financial Highlights

  • Net revenues increased by 58.2% to RMB364.5 million (US$57.4 million) from RMB230.4 million in the comparative period in 2011.
  • Adjusted EBITDA [1] increased by 49.3% to RMB70.4 million (US$11.1 million) from RMB47.2 million in the comparative period in 2011.
  • Adjusted EBITDA margin [2] was 19.3%, compared to 20.5% in the comparative period in 2011.
  • Adjusted net profit [3] increased by 10.7% to RMB37.6 million (US$5.9 million) from RMB34.0 million in the comparative period in 2011.

Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, "We are very pleased to have achieved a new milestone at 21Vianet with the opening of our new self-built data centers. This expansion dramatically increased our overall self-built cabinet count by 2,280 new cabinets to over 6,400 cabinets, accounting for 62.1% of the 10,394 total cabinets under our management, as of June 30, 2012. More importantly, our increased self-built capacity provides us with additional operational control over our hosting facilities, resulting in improved quality and effectiveness for servicing our clients' data transmission needs.  Looking ahead, we remain committed to reaching 13,000 cabinets by the end of 2012 while enhancing our network and service offerings to further accommodate the strong demand from our diversified customer base." 

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