GDS Holdings Limited Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Key Business Highlights

  • Management reiterated a strategic focus on shortening the book-to-bill cycle, prioritizing delivery of backlog, and improving utilization to enhance return on invested capital.
  • China demand slowed but remained stable; international (particularly Southeast Asia) showed strong momentum with 45% of new area commitments originating outside China in 1H 2023.
  • Three key orders in Q2:
    • 3,200 sqm / 6.1 MW order in Beijing from a major Chinese financial institution.
    • 3,600 sqm / 8.3 MW expansion order in Langfang from a large internet customer.
    • Upsizing of an existing order in Johor after increasing available power capacity.
  • International expansion progressing rapidly, highlighted by the opening of a 70 MW Johor data center cluster only 14 months after groundbreaking.
  • GDS selected by Singapore’s government for approximately 80 MW of new data center capacity under the DC-CFA pilot program.

Operational Performance

  • Gross move-in: ~15,000 sqm (flat YoY, aligned with the historical quarterly run-rate).
  • Confirmed move-ins expected to rise significantly in 2H 2023, driven by international deployments.
  • New capacity coming online:
    • 1H 2023: 15,000 sqm (primarily China).

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Operator: Hello, ladies and gentlemen, thank you for standing by for the GDS Holdings Limited's Second Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After management's prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I would now like to turn the call over to your host, Ms. Laura Chen, Head of Investor Relations for the company. Please go ahead. Laura. Laura Chen: Hello, everyone. Welcome to the second quarter 2023 earnings conference call of GDS Holdings Limited. The company's results were issued via newswire services earlier today and are posted online. A summary presentation, which we will refer to during this conference call, can be viewed and downloaded from our IR website at investors.gds-services.com. Leading today's call is Mr. William Huang, GDS's Founder, Chairman and CEO, who will provide an overview of our business strategy and performance. Mr. Dan Newman, GDS's CFO, will then review the financial and operating results. Ms. Jamie Khoo, our COO, is also available to answer questions. Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today. Further information regarding

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