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1Q14 Net Revenues Up 34.5% YOY to RMB586.0 Million
1Q14 Adjusted EBITDA Up 40.9% YOY to RMB112.9 Million
Live Conference Call to be Held at 8:00 PM U.S. Eastern Time, May 22, 2014
BEIJING, May 22, 2014 (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 of 2014. The Company will hold a conference call at 8:00 p.m. Eastern Time on May 22, 2014. Dial-in details are provided at the end of the release.
First quarter 2014 Financial Highlights
Net revenues increased by 34.5% to RMB586.0 million (US$94.3 million) from RMB435.7 million in the comparative period in 2013.
Adjusted EBITDA1 increased by 40.9% to RMB112.9 million (US$18.2 million) from RMB80.1 million in the comparative period in 2013.
Adjusted EBITDA margin2 increased to 19.3% compared to 18.4% in the comparative period in 2013.
Mr. Josh Chen, Founder, Chairman and Chief Executive Officer of the Company, stated, "We are off to a solid start in 2014, thanks to the groundwork we completed in 2013 for both our IDC and cloud businesses. With the addition of 1,033 cabinets to our self-built data centers in the first quarter, we're pleased to continue our structural shift to more self-built data centers. Following the public previews last year, we commercially launched Microsoft Azure in March 2014 followed by Office 365 in April 2014, delivering for the first time a comprehensive commercial suite of enterprise-grade public cloud services in China. During the quarter, we were able to secure thousands of clients for both services, while also migrating numerous large enterprises to long-term contracts, which will help us accelerate the growth of our cloud business revenues. As we remain on track to deploy a total of 10,000 cabinets by the end of 2014, bringing us to approximately 25,000 total cabinets, we believe that our partnership with Foxconn Technology Group will help us further hasten our efforts in IDC construction as well as developing innovative cloud services that target the Chinese market. We will continue to build upon the strong foundation we have established and are confident in our position as an integrated internet infrastructure services provider offering innovative products and solutions for our customers."