Conduent(US:CNDT)2020-02-21 16:07Financial Performance (FY2019) - Adjusted Revenue was $4431 million, a decrease of 45% year-over-year excluding divestitures, or 40% in constant currency[4] - Adjusted EBITDA was $493 million, down 79% year-over-year excluding divestitures[4] - Adjusted EBITDA margin was 111%, a decrease of 40 basis points year-over-year[13] - Adjusted Free Cash Flow was 12% of Adjusted EBITDA[23] Financial Performance (Q4 2019) - Adjusted Revenue was $1099 million, down 67% year-over-year excluding divestitures, or 65% in constant currency[4] - Adjusted EBITDA was $130 million, down 133% year-over-year excluding divestitures[4] - Adjusted EBITDA margin was 118%, down 90 basis points year-over-year[29] FY2020 Guidance - Revenue is expected to be down 6-8% in constant currency[23] - Adjusted EBITDA margin is expected to be between 105% and 115%[23] - Adjusted Free Cash Flow is projected to be 15-20% of Adjusted EBITDA[23] Strategic & Operational Updates - The company completed a strategic and operational review, focusing on optimization, enhancement, and expansion opportunities[4] - The company is exploring potential divestitures while remaining price-disciplined[4] - Q1 2020 new business signings are expected to grow quarter-over-quarter and year-over-year[4] Cash Flow and Balance Sheet (FY2019) - Cash at the end of the year was $505 million[15] - Total debt was $1514 million[18] - Net adjusted leverage ratio was 21x[18] Sales Metrics (Q4 2019) - New Business Signings TCV was $209 million, down 66% year-over-year[21] - Renewal Rate was 76%[21]