Chindata Declines on 3Q Financials: Revenue Tops 64.5%, Net Loss Increases
The companies' facilities reached a YTD Power Usage Effectiveness (PUE) of 1.22, much lower than the industry average level of around 1.8.
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Chindata Group (CD:NASDAQ), a leading carrier-neutral hyper-scale data center solution provider in Asia-Pacific emerging markets, has revealed its 3Q 2020 results. It hit CNY 467.5 million in revenue, an increase of 64.5% year-on-year (YoY). The net loss almost quadrupled to CNY -173.7 million.
CD slightly declined by 2% to USD 16.21 per share in the extended trading session.
Apart from the topline and bottom line, CD also presented stellar cost-control results, which the upgraded gross profit margin of 40.7% from 28.9% a year ago. Chindata's Adj-EBITDA margin boomed to 48.8%, compared to 33% in the same period of 2019.
The company's fast-growing facilities are unaffected by the pandemic. With an Asia-pacific emerging market-focused tactic, CD stated that, of its 9 data centers – under construction in China, India and Malaysia – 69% of these facilities' capacity is contracted with clients.
The management also gave the outlook for the whole fiscal year of 2020. It expected total revenues range from CNY 1.77 billion to 1.79 billion, the adjusted EBITDA range from CNY 830 million to 850 million.
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