Chindata Group Records Sixth Consecutive Quarter of Positive Adjusted Net Income in Q4, totaling Adjusted Net Income of RMB174.9 million in 2020

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Chindata Group (Nasdaq: CD) reported strong financial results for Q4 and the full year ended December 31, 2020. The company achieved Q4 revenues of RMB553.0 million (US$84.7 million), a 59.2% year-over-year increase, with adjusted EBITDA also rising by 72% to RMB239.4 million (US$36.7 million). For the full year, total revenues surged by 114.7% to RMB1,831.1 million (US$280.6 million), and adjusted EBITDA increased by 186.4% to RMB852.2 million (US$130.6 million). Chindata expanded its IT capacity, securing significant orders from major global cloud companies.

Positive

• Q4 revenues increased by 59.2% year-over-year to RMB553.0 million (US$84.7 million).
• Adjusted EBITDA for Q4 rose by 72% to RMB239.4 million (US$36.7 million).
• Full-year total revenues increased by 114.7% to RMB1,831.1 million (US$280.6 million).
• Full-year adjusted EBITDA surged by 186.4% to RMB852.2 million (US$130.6 million).
• Expanded IT capacity by 43 MW quarter-over-quarter, reaching a total of 291 MW.
• Received over 45 IT MW of new contracted orders from global cloud companies.

Negative

• None.

BEIJING, March 25, 2021 /PRNewswire/ -- Chindata Group (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2020. Due to the competitiveness of its business model, the Company has maintained strong profitability and efficient fund utilization. According to its financial results for the 2020 fourth quarter, Chindata Group recorded its sixth consecutive quarter of positive adjusted net income and the total adjusted net income was RMB174.9 million (US$26.8 million) in 2020.

According to its financial results, the Company posted Q4 revenues of RMB553.0 million (US$84.7 million), up 59.2% in the same period of 2019 and adjusted EBITDA of RMB239.4 million (US$36.7 million), up 72%.

Its full-year total revenues increased by 114.7% year-on-year to RMB1, 831.1 million (US$280.6 million) and its full-year adjusted EBITDA increased by 186.4% year-on-year to RMB852.2 million (USD130.6 million).

Chindata Group continues to expand its advantage in hyperscale data centers. As of December 31, 2020, its total IT capacity in service grew to 291MW, with an increase of 43 IT MW quarter over quarter. 92% of this capacity are contracted or having received IOI order. Totally, Chindata Group had 198 IT MW capacity under construction.

During the reporting period, Chindata Group has further expanded its customer diversification. The Company received over 45 IT MW of newly contracted and indication of interest ("IOI") orders from top global cloud companies in the fourth quarter of 2020. Meanwhile, as Chindata Group secured over 40 IT MW of IOI orders for its Southeast Asia facilities from anchor tenants in the fourth quarter of 2020, the Company has gained strategic advantage in Asia-Pacific by further validating its next-generation hyperscale model in emerging markets.

Mr. Jing JU, Chief Executive Officer of Chindata Group, commented, "Extending our three core corporate capabilities, we established three subgroups, namely Chindustry, Chinpower, and Chinidea in the fourth quarter of 2020. We expect this move to further strengthen Chindata's cost and technical advantages, while allowing us to better serve digital leaders and provide the industry with next-generation computing infrastructure solutions with greater diversification and of better cost-efficiency."

About Chindata Group

Chindata Group is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.

Chindata Group operates two sub-brands: "Chindata" and "Bridge Data Centres". Chindata operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area and the Greater Bay Area, the three key economic areas in China, and has become the engine of the regional digital economies. Bridge Data Centres, with its top international development and operation talents in the industry, owns fast deployable data center clusters in Malaysia and India, and seeks business opportunities in other Asia-Pacific emerging markets.

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SOURCE Chindata Group

FAQ

What were Chindata Group's Q4 revenues in 2020?

Chindata Group's Q4 revenues were RMB553.0 million (US$84.7 million), a 59.2% increase year-over-year.

How much did Chindata Group's adjusted EBITDA grow in Q4 2020?

Chindata Group's adjusted EBITDA grew by 72% in Q4 2020, reaching RMB239.4 million (US$36.7 million).

What was Chindata Group's total revenue for the full year 2020?

The total revenue for Chindata Group in the full year 2020 was RMB1,831.1 million (US$280.6 million), an increase of 114.7% year-over-year.

What is Chindata Group's total IT capacity as of December 31, 2020?

As of December 31, 2020, Chindata Group's total IT capacity was 291 MW, up from the previous quarter by 43 MW.

What strategic advantage does Chindata Group have in Asia-Pacific?

Chindata Group has gained a strategic advantage in Asia-Pacific by securing significant IOI orders from major cloud companies and expanding its customer diversification.