GDS Holdings Limited Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Highlights

  • Revenue and adjusted EBITDA increased approximately 35% year-over-year (compared to Q3 2020).
  • Strong organic sales bookings of 23,000 square meters in core Tier 1 markets; company remains on track to exceed 90,000 square meters of organic bookings for full-year 2021.
  • Five new hyperscale orders, including:
    • Two from an existing multiyear framework customer.
    • Two from a major Chinese internet platform (a new hyperscale logo).
    • One from a major Chinese bank, highlighting rising demand from financial institutions.
  • Continued expansion of capacity pipeline via acquisitions across Beijing, Shenzhen, Guangdong, and Wuhan.
  • Significant progress in renewable energy procurement and transition strategy; 2021 green energy usage expected to exceed 30% of total consumption (up from 20% in 2020).
  • Expansion in Southeast Asia with a second strategic project in Batam, Indonesia, and continued build-out in Malaysia.

Financial & Operating Performance

  • Service revenue grew 10.6% quarter-over-quarter when excluding equipment sales and FX impacts.
  • Underlying adjusted EBITDA grew 7.7% quarter-over-quarter; margin at 46.9% (down 1.2 points from Q2 2021).

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Operator: Hello, ladies and gentlemen, thank you for standing by for GDS Holdings Limited Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After managements’ prepared remarks, there will be a question-and-answer session. Today's conference call is being recorded. I will now turn the call over to your host, Ms. Laura Chen, Head of Investor Relations for the company. Please go ahead, Laura. Laura Chen: Thank you. Hello everyone. Welcome to 3Q 2021 earning 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 Founder, Chairman and CEO, who will provide an overview of our business strategy and performance. Mr. Dan Newman, GDS 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 these and other risks and

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