Strategic M&A: Foundation for Our Business
Financial Strength for Returns Driven Capital Allocation
TTM Q2 FY'21 (US$ M)
Operating Cash Flows
Consolidated Net Leverage Ratio¹ Highlights
Solid De-leverage
Guidance +
Covisant
$1,126
ECD
2.61x
2.50x
Less: CapEx
$57
1.72x
Free Cash Flows
$1,069
Less: Principal²
$10
Q3 FY'17
Q1 FY'18
Q1 FY'19
Less: Dividends
$196
Cash Generated
$863
Carbonite
2.28x
for Corporate Purposes ³
3
FCF conversion %
1.60x
32%
(FCF / Total Revenue) 4
A-EBITDA4 to OCF conversion %
88%
Q2 FY'20
Q2 FY'21
From ECD ($1.6B),
Guidance &
Covisint ($306M),
reduced leverage
from 2.50x to 1.72x
in < 2 years
From Carbonite
($1.4B) acquisition,
reduced leverage
from 2.28x to 1.60x
in less than 12
months
opentext™
3.
4.
1. Consolidated Net Leverage Ratio (pro forma) is calculated using bank covenant methodology.
2. Excludes $600 million repayment, from cash on hand, of funds previously drawn on the Revolver during the three-month period ended December 31, 2020. As of December 31, 2020, we had no outstanding balance under the Revolver.
Corporate purposes may include Total Growth Strategy, debt repayment, share repurchases, or other initiatives.
Open Text Confidential. ©2021 All Rights Reserved.
Please refer to "Use of Non-GAAP Financial Measures" in the Q2 FY'21 Investor presentation (February 4th, 2021) and "Reconciliation of selected GAAP-based measures to Non-GAAP-based measures" included within our current and
historical filings on Forms 10-Q, 10-K and 8-K.
83View entire presentation