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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Micro Focus International plc    MCRO   GB00BJ1F4N75

MICRO FOCUS INTERNATIONAL PLC

(MCRO)
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417.8 GBX   -2.06%
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Micro Focus International : Interim Results 2020 (Presentation)

07/07/2020 | 09:34am EST

Interim Results for the six Months Ended 30 April 2020

Stephen Murdoch

Brian McArthur-Muscroft

7 July 2020

Micro Focus International Safe Harbour statement

The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated ("relevant persons"). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. Information in the following presentation relating to the price at which relevant investments have been bought or sold in the past or the yield on such investments cannot be relied upon as a guide to the future performance of such investments.

This presentation does not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Micro Focus International plc (the "Company") or any company which is a subsidiary of the Company.

The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law, and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about, and observe, such restrictions.

Certain statements contained in this presentation constitute forward-looking statements. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial condition, business strategy, plans and objectives, are forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "may", "will", or "should" or, in each case, their negative or other variations or comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Such risks, uncertainties and other factors include, among others: the level of expenditure committed to development and deployment applications by organisations; the level of deployment-related turnover expected by the Company; the degree to which organisations adopt web-enabled services; the rate at which large organisations migrate applications from the mainframe environment; the continued use and necessity of the mainframe for business critical applications; the degree of competition faced by the Company; growth in the information technology services market; general economic and business conditions, particularly in the United States; changes in technology and competition; and the Company's ability to attract and retain qualified personnel. These forward-looking statements speak only as at the date of this presentation. Except as required by the Financial Conduct Authority, or by law, the Company does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events, or otherwise.

2

Agenda:

Introduction

CEO Update

CFO Update

Outlook and Guidance

CEO Update

Stephen Murdoch

Executive Summary

  • Revenue performance consistent with the guidance given at the time of our Preliminary results on 4 February 2020, taking into account the expected disruption to new sales activity which we highlighted in our COVID-19 update of 18 March 2020.

  • Revenue performance includes progress within our security product group but ITOM and ADM were below expectations.

  • Mitigation of COVID-19 revenue weakness at Adjusted EBITDA level, through management of cost base.

  • The Group recorded a goodwill impairment charge of $922.2m in the period, triggered by Covid-19

  • Successful refinancing of $1.4bn term loan means business is fully financed with next term loan due for repayment in June 2024.

  • Operating cash of $0.6bn with available liquidity of $1.1bn as at 30 April 2020.

  • The Group is 5 months into 3 year turnaround plan and structural changes to business are continuing at pace.

5

Disclaimer

Micro Focus International plc published this content on 07 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2020 13:33:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 2 980 M - -
Net income 2020 -772 M - -
Net Debt 2020 4 115 M - -
P/E ratio 2020 -2,01x
Yield 2020 2,80%
Capitalization 1 941 M 1 942 M -
EV / Sales 2020 2,03x
EV / Sales 2021 1,99x
Nbr of Employees 11 900
Free-Float 99,4%
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Technical analysis trends MICRO FOCUS INTERNATIONAL PLC
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 8,40 $
Last Close Price 5,80 $
Spread / Highest target 232%
Spread / Average Target 44,8%
Spread / Lowest Target -19,7%
EPS Revisions
Managers and Directors
NameTitle
Stephen Edward Murdoch Chief Executive Officer & Director
Gregory Lock Chairman
Paul Rodgers Chief Operating Officer
Brian McArthur-Muscroft Chief Financial Officer & Director
Karen Slatford Senior Independent Non-Executive Director
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