{
  "docId": "019de512-29a7-74e0-98d3-60ff3189977f",
  "docSlug": "c1b40e8c8d2db1582890f9e7485cff42",
  "documentTitle": "Micro Focus | Credit Presentation Deck | 28 slides",
  "authorId": "micro-focus",
  "authorName": "Micro Focus",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2022-01-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 17,
  "pageCount": 28,
  "prevPage": 16,
  "nextPage": 18,
  "slideType": "executive_summary",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 6,
  "notes": "The slide provides a high-level financial snapshot for stakeholders.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de512-29a7-74e0-98d3-60ff3189977f/17",
  "deckHref": "/decks/019de512-29a7-74e0-98d3-60ff3189977f",
  "deckJsonHref": "/decks/019de512-29a7-74e0-98d3-60ff3189977f.json",
  "deckAnchorHref": "/decks/019de512-29a7-74e0-98d3-60ff3189977f#slide-17",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.85,
        "x": 0.07,
        "y": 0.25
      },
      "kind": "list",
      "text": "Revenue of c.$2.9bn for the full year (CCY decline of approximately 5%)\nMicro Focus continues to deliver on its strategic objectives and the pace of change in the business is accelerating\nSignificant improvement in the rate of YoY constant currency revenue decline versus 10% in FY20\nCustomer-centric investments are delivering meaningful improvements in both sales and operating performance with the transition to a single enterprise-wide platform creating the foundation for further simplification and productivity improvement",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "51700711-42e3-4669-83c2-99bc5533ade0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.85,
        "x": 0.07,
        "y": 0.66
      },
      "kind": "list",
      "text": "Sale of Digital Safe announced\nOn the 3rd November 2021, the Group announced the disposal of the Digital Safe business for cash consideration of $375mm. Net proceeds from the transaction will be used to reduce net debt by c.$0.4bn\nTestament to the underlying value of the Group’s assets and a clear example of ability to deliver incremental value to all stakeholders\nThe transaction is expected to close in the first quarter of calendar 2022",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c4e74eb8-396d-4d30-a3c7-9820baa4fc8e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.07,
        "y": 0.6
      },
      "kind": "list",
      "text": "Available liquidity of over $0.8bn including undrawn revolver¹ at 31 Oct 2021",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2db1e90-8a74-4ea6-ab6b-d1ba7a913aa2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.85,
        "x": 0.07,
        "y": 0.5
      },
      "kind": "list",
      "text": "Adjusted EBITDA of c.$1.0bn at a margin of c.36% for FY21\nThe lower Adj. EBITDA margin YoY reflects the revenue decline, targeted investments and the impact of the IT platform transition",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "df39be14-42d0-4c35-b997-251c0b4abad5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.5,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "(1) In Dec 2021, the revolver was reduced from $350mm to $250mm and maturity was extended from Jun-24 to Dec-26",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "134f5dac-e53f-494d-a56a-d38d62f415ef",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.35,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "title",
      "text": "Trading update for FY21",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4c4d86da-7bb1-40fe-b1d9-80d550218865",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Executive summary",
      "slug": "executive-summary",
      "agent": null,
      "layer": "slide",
      "matchId": "de333b9c-9fb3-4191-9263-f76b81f4660e",
      "evidence": "type: executive_summary",
      "confidence": 0.9
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 22,
      "from": 17,
      "beatId": "c1175214-241d-404a-802b-6f04309d8f6f",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Evidence & Proof",
      "beatSlug": "consultants-gambit-evidence-proof",
      "evidence": "Slides 17-22 provide financial updates and key credit highlights",
      "position": 3,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [
    {
      "to": 22,
      "from": 6,
      "name": "Logic Chain",
      "slug": "01-logic-chain",
      "bestFor": "Skeptical audiences, controversial recommendations, rigorous analysis",
      "matchId": "01ecaa98-430e-4845-8675-0c425beff90f",
      "evidence": "The deck presents a logical chain of argumentation to address this question",
      "position": 0,
      "objective": "How can Micro Focus drive growth and stabilize revenue?",
      "structure": "Premise 1 (Accepted truth) -> Premise 2 (Observed fact) -> Therefore... (Inevitable conclusion)",
      "confidence": 0.7,
      "description": "Build an airtight chain of logic where each premise leads inevitably to the conclusion"
    },
    {
      "to": 20,
      "from": 17,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "7e1ed490-31ae-41c5-9093-2959e006865f",
      "evidence": "The deck highlights the importance of cost savings and revenue growth for financial stability",
      "position": 1,
      "objective": "What are the consequences of not achieving cost savings and revenue growth?",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.6,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}