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21Vianet Group, Inc. Reports Unaudited First Quarter 2013 Financial Results

Stocks in this article: VNET

1Q13 Net Revenues Up 26 .0% YOY to RMB435.7 Million

1Q13 Adjusted EBITDA Up 15.4% YOY to RMB80.1 Million

Live Conference Call to be Held at 8:00 PM U.S. Eastern Time, May 16, 2013

BEIJING, May 16, 2013 (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 first quarter. The Company will hold a conference call at 8:00 p.m. Eastern Time on May 16, 2013. Dial-in details are provided at the end of the release.

First quarter 2013 Financial Highlights

  • Net revenues increased by 26.0% to RMB435.7 million (US$70.2 million) from RMB345.8 million in the comparative period in 2012.
  • Adjusted EBITDA 1 increased by 15.4% to RMB80.1 million (US$12.9 million) from RMB69.5 million in the comparative period in 2012.

Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, "Following a year that focused on expanding our capacity to meet customer demand, we have become focused on improving utilization as well as further building out our infrastructure to support strong customer demand as well as our upcoming launch of cloud services with Microsoft. With our growing business scale, the increasing mix of higher margin self-built facilities, as well as the ramp-up in cloud services later this year with Microsoft, we continue to see significant opportunities for revenue acceleration and continued growth in the coming quarters."

Mr. Shang-Wen Hsiao, President and Chief Financial Officer of the Company, commented, "We are pleased to come in-line with our prior guidance despite an increase in bandwidth costs associated with the upgrade to our network capacity during the past quarter. In addition, we are very pleased with the successful completion of our bond offering of RMB1 billion in aggregate principal in March, which demonstrated the investors' confidence in the growth momentum and potentials of our business in the coming years. With the additional funding from this offering, we are well positioned to continue executing our strategic build-out plan for data centers and fiber network as well as the rollout of our cloud platform with Microsoft."

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