The document is an investor presentation for Markit Ltd. that provides an overview of the company, including key metrics such as share price and market capitalization. It summarizes Markit's business divisions which provide pricing and reference data, trade processing, and enterprise software solutions. The presentation also outlines Markit's focus on customer collaboration to develop new solutions, lists important industry trends it addresses, and provides background on its founder-led management team.
Markit Investor Presentation - September 2015InvestorMarkit
The investor presentation summarizes Markit's business and financial performance. It provides an overview of Markit's three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation services. The Processing division offers trade processing solutions for OTC derivatives, FX, and syndicated loans. The Solutions division provides enterprise software and managed services. Financial highlights include 2014 revenue of $1.1 billion and adjusted EBITDA of $488 million across the three divisions. Acquisitions are an important part of Markit's growth strategy to expand its product and service offerings.
Mo e investor roadshow presentation final 032116InvestorMarkit
IHS and Markit, two global information providers, will merge to create a new combined company called IHS Markit. The all-stock deal values Markit at $6.25 billion and will make IHS Markit a leader in critical information, analytics, and solutions. Jerre Stead will be Chairman and CEO of the new company initially. The merger is expected to close in the second half of 2016 pending shareholder and regulatory approvals.
Q1 16 results presentation final unencryptedInvestorMarkit
- Markit reported revenue of $287.8 million for Q1 2016, up 7.8% on a constant currency basis with 1% organic growth and 6.8% from acquisitions.
- Information segment grew revenue 7.4% to $129.5 million driven by strong pricing and reference data products and a 4.1% contribution from CoreOne acquisition.
- Processing revenue declined 7.6% to $62.3 million due to lower rates and credit volumes as well as adverse FX, partially offset by 4.6% from DealHub.
- Solutions revenue was up 15% to $96 million including 4% organic growth and 12.5% from acquisitions such
- Markit reported financial results for Q2 2015 and the first six months of 2015
- Revenue increased 3.2% in Q2 2015 and 3.9% for the first six months compared to the same periods in 2014
- Adjusted EBITDA was relatively flat in Q2 2015 but increased 2.1% for the first six months, and margins remained strong at 44.7%
- Adjusted earnings increased slightly in Q2 2015 but declined 3.0% for the first six months, while adjusted EPS declined due to an increased number of shares outstanding
- Markit is a leading global provider of financial information services, with over 3,600 employees and $1.065 billion in revenue in 2014.
- The presentation discusses Markit's business segments and financial performance, with an emphasis on its consistent revenue growth, margins, and track record of acquisitions.
- Markit has three divisions: Information (pricing and reference data), Processing (trade processing), and Solutions (enterprise software and managed services). All divisions have shown strong revenue growth and margins historically.
This document provides Iron Mountain's supplemental financial information for the fourth quarter of 2017. It includes a safe harbor statement noting that some statements in the document constitute forward-looking statements subject to risks and uncertainties. The document then provides an overview of Iron Mountain's business model as an enterprise storage and information management company, before detailing its financial highlights and metrics for Q4 2017 compared to Q4 2016, including a 16.3% compound annual growth rate in storage rental revenues over 28 years.
The document provides Iron Mountain's supplemental financial information for the first quarter of 2017. Some key highlights include:
- Total revenues increased 25.1% year-over-year to $938.9 million, with storage rental revenues up 24.1% and service revenues up 26.6%.
- Adjusted EBITDA increased 24.4% to $292.6 million.
- Iron Mountain issued 2017 guidance forecasting 8-10% revenue growth, 16-19% adjusted EBITDA growth, and 8-15% AFFO growth.
This document provides supplemental financial information for Iron Mountain for Q3 2017. It includes 10 sections covering various financial metrics and definitions. Key highlights include:
- Storage rental revenues increased 4.3% in Q3 2017 and 11.9% YTD compared to prior year.
- Total revenues increased 2.4% in Q3 2017 and 10.8% YTD.
- Gross profit increased 6.7% in Q3 2017 and 11.9% YTD. Gross margin increased 230 bps in Q3 2017 and 60 bps YTD.
- Sections I-X provide details on the company profile, financial guidance, operating metrics, financial statements, storage and service business results, real estate
Markit Investor Presentation - September 2015InvestorMarkit
The investor presentation summarizes Markit's business and financial performance. It provides an overview of Markit's three divisions: Information, Processing, and Solutions. The Information division provides pricing and reference data, indices, and valuation services. The Processing division offers trade processing solutions for OTC derivatives, FX, and syndicated loans. The Solutions division provides enterprise software and managed services. Financial highlights include 2014 revenue of $1.1 billion and adjusted EBITDA of $488 million across the three divisions. Acquisitions are an important part of Markit's growth strategy to expand its product and service offerings.
Mo e investor roadshow presentation final 032116InvestorMarkit
IHS and Markit, two global information providers, will merge to create a new combined company called IHS Markit. The all-stock deal values Markit at $6.25 billion and will make IHS Markit a leader in critical information, analytics, and solutions. Jerre Stead will be Chairman and CEO of the new company initially. The merger is expected to close in the second half of 2016 pending shareholder and regulatory approvals.
Q1 16 results presentation final unencryptedInvestorMarkit
- Markit reported revenue of $287.8 million for Q1 2016, up 7.8% on a constant currency basis with 1% organic growth and 6.8% from acquisitions.
- Information segment grew revenue 7.4% to $129.5 million driven by strong pricing and reference data products and a 4.1% contribution from CoreOne acquisition.
- Processing revenue declined 7.6% to $62.3 million due to lower rates and credit volumes as well as adverse FX, partially offset by 4.6% from DealHub.
- Solutions revenue was up 15% to $96 million including 4% organic growth and 12.5% from acquisitions such
- Markit reported financial results for Q2 2015 and the first six months of 2015
- Revenue increased 3.2% in Q2 2015 and 3.9% for the first six months compared to the same periods in 2014
- Adjusted EBITDA was relatively flat in Q2 2015 but increased 2.1% for the first six months, and margins remained strong at 44.7%
- Adjusted earnings increased slightly in Q2 2015 but declined 3.0% for the first six months, while adjusted EPS declined due to an increased number of shares outstanding
- Markit is a leading global provider of financial information services, with over 3,600 employees and $1.065 billion in revenue in 2014.
- The presentation discusses Markit's business segments and financial performance, with an emphasis on its consistent revenue growth, margins, and track record of acquisitions.
- Markit has three divisions: Information (pricing and reference data), Processing (trade processing), and Solutions (enterprise software and managed services). All divisions have shown strong revenue growth and margins historically.
This document provides Iron Mountain's supplemental financial information for the fourth quarter of 2017. It includes a safe harbor statement noting that some statements in the document constitute forward-looking statements subject to risks and uncertainties. The document then provides an overview of Iron Mountain's business model as an enterprise storage and information management company, before detailing its financial highlights and metrics for Q4 2017 compared to Q4 2016, including a 16.3% compound annual growth rate in storage rental revenues over 28 years.
The document provides Iron Mountain's supplemental financial information for the first quarter of 2017. Some key highlights include:
- Total revenues increased 25.1% year-over-year to $938.9 million, with storage rental revenues up 24.1% and service revenues up 26.6%.
- Adjusted EBITDA increased 24.4% to $292.6 million.
- Iron Mountain issued 2017 guidance forecasting 8-10% revenue growth, 16-19% adjusted EBITDA growth, and 8-15% AFFO growth.
This document provides supplemental financial information for Iron Mountain for Q3 2017. It includes 10 sections covering various financial metrics and definitions. Key highlights include:
- Storage rental revenues increased 4.3% in Q3 2017 and 11.9% YTD compared to prior year.
- Total revenues increased 2.4% in Q3 2017 and 10.8% YTD.
- Gross profit increased 6.7% in Q3 2017 and 11.9% YTD. Gross margin increased 230 bps in Q3 2017 and 60 bps YTD.
- Sections I-X provide details on the company profile, financial guidance, operating metrics, financial statements, storage and service business results, real estate
The document provides Iron Mountain's supplemental financial information for the second quarter of 2017. It includes sections covering the company's profile, financial highlights and guidance, operating metrics, balance sheets, statements of operations, and reconciliations of non-GAAP measures. For the quarter, total revenues increased 7.5% to $949.8 million driven by 9.6% growth in storage rental revenues and 4.2% growth in service revenues. Adjusted EBITDA increased 21.7% to $318.1 million and AFFO grew 39.6% to $217.1 million. For 2017, Iron Mountain expects revenue growth of 8-10% and adjusted EBITDA growth of 16-19%.
This document provides supplemental financial information for Iron Mountain for Q2 2017. It includes 10 sections covering various financial metrics and reconciliations. Some key highlights include:
- Storage rental revenues grew 9.6% in Q2 2017 and 16.3% YTD compared to prior year.
- Total revenues grew 7.5% in Q2 2017 and 15.6% YTD.
- Gross profit grew 9.7% in Q2 2017 and 14.8% YTD.
- Adjusted gross profit grew 10.7% in Q2 2017 and 16.2% YTD after excluding recall costs from cost of sales.
This document contains forward-looking statements, disclaimers, and definitions related to CPI Card Group's financial reporting. It discusses risks and uncertainties inherent in forward-looking statements. It also provides context around non-GAAP financial measures reported by CPI Card Group and reconciliations to GAAP measures. The document establishes CPI Card Group as a North American leader in payment card solutions with leading market positions and addresses a large growing market driven by long-term trends in the payments industry.
- Q3 2015 highlights document from Aimia provides forward-looking statements and cautions that actual results may differ materially from projections.
- It outlines Aimia's non-GAAP financial measures including Adjusted EBITDA and Adjusted Net Earnings which are used to evaluate performance but are not comparable to GAAP measures.
- The document reports Q3 2015 consolidated Adjusted EBITDA of $49.1 million, down from $63.9 million in Q3 2014, and updates 2015 guidance for lower Gross Billings and Adjusted EBITDA compared to previous targets.
1. Bragg reported financial results for the first half of 2021 with revenue increasing 27.6% compared to the same period in 2020 and Adjusted EBITDA up 8.5% despite regulatory changes in Germany.
2. For the full year 2021, Bragg expects revenue between €47-49 million and Adjusted EBITDA between €4.8-5.4 million, accounting for the impact of new regulations in Germany.
3. Looking ahead, Bragg provided revenue guidance of €54-56 million for 2022 driven by its expansion into new markets, growth of existing markets and customers, and acquisitions completed in 2021.
Bragg Gaming Group provides a turnkey online gaming solution for operators through its proprietary iGaming platform. It has experienced strong revenue and EBITDA growth in recent years due to a growing customer base that has tripled in size. Bragg's business model is highly scalable and profitable, earning revenue through sharing a percentage of gross gaming revenue from operators using its platform. It aims to continue growing its core business and diversifying into new markets like the US and Canada through technology, partnerships, and acquisitions.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
Hut 8 is one of North America's largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. The recent deal with Validus Power will add up to 100 megawatts (MW) on top of the 109MW currently in production and aligns with the Company’s sustainable mining goals and ESG investor trends. The Company recently purchased $30 million (one-third of total production) of NVIDIA’s cutting-edge cryptocurrency GPU miners to mine Ethereum and participate in profitable decentralized finance opportunities and will start by getting paid out in Bitcoin, and $44 million of MicroBT miners. Given current bitcoin network dynamics, the hashrates from these installations are expected to increase average production from 6.2 – 7.3 Bitcoin per day to 8 – 10 Bitcoin per day.
Trilogy International Partners Inc. held an investor presentation in September 2019 to provide an overview of the company and its two main operating segments, 2degrees in New Zealand and NuevaTel in Bolivia. The summary discusses:
- 2degrees has seen strong double-digit revenue and subscriber growth in New Zealand in 2019. It operates in a stable three-player mobile market with opportunities for continued growth in postpaid subscribers and data adoption.
- NuevaTel closed a $100 million tower sale-leaseback agreement in Bolivia and launched fixed LTE services. The business is showing signs of stabilizing after pricing pressures and number portability issues impacted results in 2018.
- The presentation evaluates Trilogy
InfraREIT reported strong Q1 2015 results that were in line with expectations, including year-over-year growth in lease revenue, adjusted EBITDA, and cash available for distribution. Major footprint projects like the Golden Spread Interconnection and Cross Valley Transmission Line are progressing on schedule. InfraREIT is on track to achieve its 2015 financial targets and expects 10-15% annual growth in cash available for distribution per share through 2018.
This document provides supplemental materials for Virtu Financial's fourth quarter 2016 results, including:
1) A cautionary statement about forward-looking statements and associated risks and uncertainties.
2) An explanation of GAAP and non-GAAP financial measures included in the presentation.
3) A reconciliation of GAAP to non-GAAP measures such as normalized adjusted net income and free cash flow.
The document discusses Iron Mountain's durable business model and strategic plan performance. It notes that Iron Mountain has a global storage and information management business that generates over $3 billion in annual revenue. Its storage rental stream provides a stable economic driver, with internal storage revenue growth averaging 3.8% annually. Iron Mountain's strategic plan is delivering expected results, with net records management volume growth and an increased percentage of revenues from emerging markets. The plan is also driving improved financial performance, as seen in increased revenues and adjusted OIBDA from 2013 to 2015.
Cpi card group investor presentation march 2016cpi2016ir
The document provides an overview of CPI Card Group, a leading payment card manufacturer. It discusses CPI's market leadership positions, comprehensive product and service offerings, growth opportunities from EMV conversion, and attractive financial profile. Key points include CPI serving over 35% of the US payment card market, addressing a growing $1.3 billion market size by 2019, and delivering strong growth rates with 29% revenue CAGR and 52% adjusted EBITDA CAGR from 2012-2015. Acquisitions have expanded CPI's capabilities and market reach.
November 2016 general investor presentation v finalirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams by geography, product class, and business line. The document also highlights BGC's strong track record of growth, liquidity position, and opportunities from acquisitions and rising interest rates. Financial tables show year-over-year growth in distributable earnings for the third quarter of 2016.
TCF Financial Corporation held a 4Q19 earnings presentation on January 27, 2020. The presentation contained forward-looking statements regarding TCF's financial performance and the merger with Chemical Financial Corporation. The presentation also contained cautionary language stating that TCF's actual future results could differ from projected results due to risks and uncertainties. TCF provided non-GAAP financial measures to allow for comparisons between periods and other institutions, but warned that non-GAAP measures have limitations. TCF reported diluted EPS of $0.72 but adjusted diluted EPS was $1.04. Integration of the merger was on track and loan growth was strong, particularly in commercial loans, while credit quality remained solid.
Hut 8 is one of North America's largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. The recent deal with Validus Power will add up to 100 megawatts (MW) on top of the 109MW currently in production and aligns with the Company’s sustainable mining goals and ESG investor trends. The Company recently purchased $30 million (one-third of total production) of NVIDIA’s cutting-edge cryptocurrency GPU miners to mine Ethereum and participate in profitable decentralized finance opportunities and will start by getting paid out in Bitcoin, and $44 million of MicroBT miners. Given current bitcoin network dynamics, the hashrates from these installations are expected to increase average production from 6.2 – 7.3 Bitcoin per day to 8 – 10 Bitcoin per day.
This document is a presentation by BMC Stock Holdings, Inc. discussing the company's financial performance and outlook. It contains forward-looking statements about sales growth, earnings, strategic direction, and demand. It warns that many factors could cause actual results to differ from projections. It also provides context about the company's merger history and defines non-GAAP financial measures used, such as adjusted sales, profits, EBITDA, and income, which exclude items like merger costs to provide additional tools for investors.
Intel announced that its fourth-quarter business will be below previous expectations, with revenue expected to be $9 billion, lower than the $10.1-10.9 billion expectation. Gross margin is also expected to be lower at 55% due to lower revenue and other charges from weaker demand. Spending is projected to be $2.8 billion compared to $2.9 billion expected previously. Risk factors that could further impact results include continued uncertainty in global economic conditions, competition, manufacturing costs and yields, and impairment charges.
BGC Partners reported financial results for the fourth quarter and full year of 2016. For the quarter, revenues were $673.2 million, down slightly from the previous year, while pre-tax distributable earnings increased 27.7% to $129.1 million. For the full year, revenues increased 1.2% to $2.6 billion and pre-tax distributable earnings rose 18.1% to $425.4 million. The financial services segment saw a 5% revenue decline for the quarter and a 2% decline for the year, while real estate services revenue increased 7% for the quarter and 6% for the year, driven by strong capital markets growth.
Iron Mountain provides storage and information management services. For Q4 2016, the company reported storage rental revenue growth of 23.8% and service revenue growth of 24.8% compared to Q4 2015. Full year 2016 storage rental revenue grew 16.6% and service revenue grew 17.0% compared to full year 2015. The company provided guidance for 2017, estimating revenue growth, adjusted EBITDA growth, and adjusted EPS growth, while outlining key assumptions for the year.
Arkios Italy Company Presentation [ENG] - Aug 2014Paolo Cirani
Arkios Italy is an independent advisory firm specialized in providing M&A advisory services, strategy consulting, and raising capital for medium-sized companies. It has offices in 13 countries across Europe, Asia, and North America. According to Thomson Reuters, Arkios Italy is ranked 12th in Italy for completed M&A deals under $500 million, ahead of large international firms. The firm focuses on understanding the industrial and business value of its clients to maximize deal value. It has advised on numerous acquisitions, divestitures, and capital raises for clients across various industries.
This document summarizes different market structures: perfect competition, imperfect competition, monopoly, oligopoly, monopolistic competition, and monopsony. It defines each structure and provides examples. Perfect competition is characterized by many small producers and sellers of identical products. Imperfect competition refers to any market structure other than perfect competition, such as monopoly, oligopoloy, or monopolistic competition. Monopoly exists when there is a single seller of a product. Oligopoly describes a market with a small number of sellers. Monopolistic competition involves differentiated products. Monopsony is a market with a single buyer.
The document provides Iron Mountain's supplemental financial information for the second quarter of 2017. It includes sections covering the company's profile, financial highlights and guidance, operating metrics, balance sheets, statements of operations, and reconciliations of non-GAAP measures. For the quarter, total revenues increased 7.5% to $949.8 million driven by 9.6% growth in storage rental revenues and 4.2% growth in service revenues. Adjusted EBITDA increased 21.7% to $318.1 million and AFFO grew 39.6% to $217.1 million. For 2017, Iron Mountain expects revenue growth of 8-10% and adjusted EBITDA growth of 16-19%.
This document provides supplemental financial information for Iron Mountain for Q2 2017. It includes 10 sections covering various financial metrics and reconciliations. Some key highlights include:
- Storage rental revenues grew 9.6% in Q2 2017 and 16.3% YTD compared to prior year.
- Total revenues grew 7.5% in Q2 2017 and 15.6% YTD.
- Gross profit grew 9.7% in Q2 2017 and 14.8% YTD.
- Adjusted gross profit grew 10.7% in Q2 2017 and 16.2% YTD after excluding recall costs from cost of sales.
This document contains forward-looking statements, disclaimers, and definitions related to CPI Card Group's financial reporting. It discusses risks and uncertainties inherent in forward-looking statements. It also provides context around non-GAAP financial measures reported by CPI Card Group and reconciliations to GAAP measures. The document establishes CPI Card Group as a North American leader in payment card solutions with leading market positions and addresses a large growing market driven by long-term trends in the payments industry.
- Q3 2015 highlights document from Aimia provides forward-looking statements and cautions that actual results may differ materially from projections.
- It outlines Aimia's non-GAAP financial measures including Adjusted EBITDA and Adjusted Net Earnings which are used to evaluate performance but are not comparable to GAAP measures.
- The document reports Q3 2015 consolidated Adjusted EBITDA of $49.1 million, down from $63.9 million in Q3 2014, and updates 2015 guidance for lower Gross Billings and Adjusted EBITDA compared to previous targets.
1. Bragg reported financial results for the first half of 2021 with revenue increasing 27.6% compared to the same period in 2020 and Adjusted EBITDA up 8.5% despite regulatory changes in Germany.
2. For the full year 2021, Bragg expects revenue between €47-49 million and Adjusted EBITDA between €4.8-5.4 million, accounting for the impact of new regulations in Germany.
3. Looking ahead, Bragg provided revenue guidance of €54-56 million for 2022 driven by its expansion into new markets, growth of existing markets and customers, and acquisitions completed in 2021.
Bragg Gaming Group provides a turnkey online gaming solution for operators through its proprietary iGaming platform. It has experienced strong revenue and EBITDA growth in recent years due to a growing customer base that has tripled in size. Bragg's business model is highly scalable and profitable, earning revenue through sharing a percentage of gross gaming revenue from operators using its platform. It aims to continue growing its core business and diversifying into new markets like the US and Canada through technology, partnerships, and acquisitions.
Whitestone REIT Investor Presentation February 2018whitestonereit1
This document is an investor presentation for Whitestone REIT (WSR). It provides an overview of WSR, including its portfolio of 72 community-centered retail properties totaling 6.6 million square feet in high growth markets. It highlights WSR's strong total shareholder returns that have outperformed peers, solid capital structure, experienced internal management team, and focus on corporate governance and transparency. The presentation is divided into five parts that cover WSR's stock and operating performance, consumer-focused business model and strategy, internal management alignment, board experience and diversity, and governance commitments.
Hut 8 is one of North America's largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. The recent deal with Validus Power will add up to 100 megawatts (MW) on top of the 109MW currently in production and aligns with the Company’s sustainable mining goals and ESG investor trends. The Company recently purchased $30 million (one-third of total production) of NVIDIA’s cutting-edge cryptocurrency GPU miners to mine Ethereum and participate in profitable decentralized finance opportunities and will start by getting paid out in Bitcoin, and $44 million of MicroBT miners. Given current bitcoin network dynamics, the hashrates from these installations are expected to increase average production from 6.2 – 7.3 Bitcoin per day to 8 – 10 Bitcoin per day.
Trilogy International Partners Inc. held an investor presentation in September 2019 to provide an overview of the company and its two main operating segments, 2degrees in New Zealand and NuevaTel in Bolivia. The summary discusses:
- 2degrees has seen strong double-digit revenue and subscriber growth in New Zealand in 2019. It operates in a stable three-player mobile market with opportunities for continued growth in postpaid subscribers and data adoption.
- NuevaTel closed a $100 million tower sale-leaseback agreement in Bolivia and launched fixed LTE services. The business is showing signs of stabilizing after pricing pressures and number portability issues impacted results in 2018.
- The presentation evaluates Trilogy
InfraREIT reported strong Q1 2015 results that were in line with expectations, including year-over-year growth in lease revenue, adjusted EBITDA, and cash available for distribution. Major footprint projects like the Golden Spread Interconnection and Cross Valley Transmission Line are progressing on schedule. InfraREIT is on track to achieve its 2015 financial targets and expects 10-15% annual growth in cash available for distribution per share through 2018.
This document provides supplemental materials for Virtu Financial's fourth quarter 2016 results, including:
1) A cautionary statement about forward-looking statements and associated risks and uncertainties.
2) An explanation of GAAP and non-GAAP financial measures included in the presentation.
3) A reconciliation of GAAP to non-GAAP measures such as normalized adjusted net income and free cash flow.
The document discusses Iron Mountain's durable business model and strategic plan performance. It notes that Iron Mountain has a global storage and information management business that generates over $3 billion in annual revenue. Its storage rental stream provides a stable economic driver, with internal storage revenue growth averaging 3.8% annually. Iron Mountain's strategic plan is delivering expected results, with net records management volume growth and an increased percentage of revenues from emerging markets. The plan is also driving improved financial performance, as seen in increased revenues and adjusted OIBDA from 2013 to 2015.
Cpi card group investor presentation march 2016cpi2016ir
The document provides an overview of CPI Card Group, a leading payment card manufacturer. It discusses CPI's market leadership positions, comprehensive product and service offerings, growth opportunities from EMV conversion, and attractive financial profile. Key points include CPI serving over 35% of the US payment card market, addressing a growing $1.3 billion market size by 2019, and delivering strong growth rates with 29% revenue CAGR and 52% adjusted EBITDA CAGR from 2012-2015. Acquisitions have expanded CPI's capabilities and market reach.
November 2016 general investor presentation v finalirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams by geography, product class, and business line. The document also highlights BGC's strong track record of growth, liquidity position, and opportunities from acquisitions and rising interest rates. Financial tables show year-over-year growth in distributable earnings for the third quarter of 2016.
TCF Financial Corporation held a 4Q19 earnings presentation on January 27, 2020. The presentation contained forward-looking statements regarding TCF's financial performance and the merger with Chemical Financial Corporation. The presentation also contained cautionary language stating that TCF's actual future results could differ from projected results due to risks and uncertainties. TCF provided non-GAAP financial measures to allow for comparisons between periods and other institutions, but warned that non-GAAP measures have limitations. TCF reported diluted EPS of $0.72 but adjusted diluted EPS was $1.04. Integration of the merger was on track and loan growth was strong, particularly in commercial loans, while credit quality remained solid.
Hut 8 is one of North America's largest innovation-focused digital asset miners, supporting open and decentralized systems since 2018. Located in energy rich Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined Bitcoin than any crypto miner or publicly traded company globally. The recent deal with Validus Power will add up to 100 megawatts (MW) on top of the 109MW currently in production and aligns with the Company’s sustainable mining goals and ESG investor trends. The Company recently purchased $30 million (one-third of total production) of NVIDIA’s cutting-edge cryptocurrency GPU miners to mine Ethereum and participate in profitable decentralized finance opportunities and will start by getting paid out in Bitcoin, and $44 million of MicroBT miners. Given current bitcoin network dynamics, the hashrates from these installations are expected to increase average production from 6.2 – 7.3 Bitcoin per day to 8 – 10 Bitcoin per day.
This document is a presentation by BMC Stock Holdings, Inc. discussing the company's financial performance and outlook. It contains forward-looking statements about sales growth, earnings, strategic direction, and demand. It warns that many factors could cause actual results to differ from projections. It also provides context about the company's merger history and defines non-GAAP financial measures used, such as adjusted sales, profits, EBITDA, and income, which exclude items like merger costs to provide additional tools for investors.
Intel announced that its fourth-quarter business will be below previous expectations, with revenue expected to be $9 billion, lower than the $10.1-10.9 billion expectation. Gross margin is also expected to be lower at 55% due to lower revenue and other charges from weaker demand. Spending is projected to be $2.8 billion compared to $2.9 billion expected previously. Risk factors that could further impact results include continued uncertainty in global economic conditions, competition, manufacturing costs and yields, and impairment charges.
BGC Partners reported financial results for the fourth quarter and full year of 2016. For the quarter, revenues were $673.2 million, down slightly from the previous year, while pre-tax distributable earnings increased 27.7% to $129.1 million. For the full year, revenues increased 1.2% to $2.6 billion and pre-tax distributable earnings rose 18.1% to $425.4 million. The financial services segment saw a 5% revenue decline for the quarter and a 2% decline for the year, while real estate services revenue increased 7% for the quarter and 6% for the year, driven by strong capital markets growth.
Iron Mountain provides storage and information management services. For Q4 2016, the company reported storage rental revenue growth of 23.8% and service revenue growth of 24.8% compared to Q4 2015. Full year 2016 storage rental revenue grew 16.6% and service revenue grew 17.0% compared to full year 2015. The company provided guidance for 2017, estimating revenue growth, adjusted EBITDA growth, and adjusted EPS growth, while outlining key assumptions for the year.
Arkios Italy Company Presentation [ENG] - Aug 2014Paolo Cirani
Arkios Italy is an independent advisory firm specialized in providing M&A advisory services, strategy consulting, and raising capital for medium-sized companies. It has offices in 13 countries across Europe, Asia, and North America. According to Thomson Reuters, Arkios Italy is ranked 12th in Italy for completed M&A deals under $500 million, ahead of large international firms. The firm focuses on understanding the industrial and business value of its clients to maximize deal value. It has advised on numerous acquisitions, divestitures, and capital raises for clients across various industries.
This document summarizes different market structures: perfect competition, imperfect competition, monopoly, oligopoly, monopolistic competition, and monopsony. It defines each structure and provides examples. Perfect competition is characterized by many small producers and sellers of identical products. Imperfect competition refers to any market structure other than perfect competition, such as monopoly, oligopoloy, or monopolistic competition. Monopoly exists when there is a single seller of a product. Oligopoly describes a market with a small number of sellers. Monopolistic competition involves differentiated products. Monopsony is a market with a single buyer.
Factor pricing is determined by demand and supply in competitive markets. The three main factors of production that are traded are labor, land, and capital. Labor demand is determined by the point where the marginal product of labor equals the wage rate. The individual labor supply curve may bend backward at high wages, but the market supply curve remains upward sloping in the long run. Factor prices are determined by the equilibrium of demand and supply in the market. Rent is the payment for fixed factors in excess of their opportunity cost. Profit provides rewards for entrepreneurship, risk-taking, and innovation in imperfect markets.
This document discusses different types of costs related to production. It defines money cost, nominal cost, real cost, opportunity cost, implicit cost, explicit cost, accounting cost, social cost, and entrepreneur's cost. It also covers classification of costs, elements of costs, short-run costs including fixed, variable, total, average and marginal costs. Finally, it discusses long-run cost curves including long-run average cost and long-run marginal cost curves.
Theory of production describes the relationship between inputs and outputs in the production process. A production function defines this relationship mathematically. In the short run, some inputs are fixed while others are variable. As the variable input increases, total output initially increases at an increasing rate (stage 1), then at a decreasing rate (stage 2), and eventually decreases (stage 3), following the law of variable proportions. In the long run, all inputs are variable. If all inputs increase proportionately, we can see increasing, constant, or decreasing returns to scale. Isoquants show the combinations of inputs that produce the same output level.
Inflation is defined as a sustained increase in the general price level in an economy over a period of time. It can be caused by demand-pull factors like excess money supply or cost-push factors like increases in production costs. There are three main types of inflation - creeping inflation (under 5%), running inflation (8-10%) and hyperinflation (double or triple digit price increases). Governments use monetary policy like increasing interest rates and fiscal policy like increasing taxes or reducing spending to control inflation. Both demand-pull and cost-push inflation impact the economy by hurting consumers and fixed income groups.
This document discusses various cost concepts used for analyzing costs of projects. It defines total fixed costs, average fixed costs, total variable costs, average variable costs, total costs and average total costs. It also defines marginal cost. It discusses production rules for firms in the short run and long run, including how firms should determine production levels to maximize profits or minimize losses. It also covers economies and diseconomies of scale.
The document discusses theories of costs in the short run and long run for firms. In the short run, costs are classified as fixed or variable. Fixed costs do not change with output while variable costs do change with output. In the long run, nothing is fixed. Long run average cost (LRAC) curves illustrate average costs when all factors of production can be varied. LRAC curves are U-shaped and reflect economies of scale at low outputs and diseconomies of scale at high outputs. LRAC curves envelop multiple short run average cost curves as firms choose the optimal factory size.
This document discusses inflation including its definition, types, causes, effects, measurement, and measures to control it. Inflation is defined as a sustained increase in prices or fall in the value of money. The main types are open, suppressed, galloping, and hyper inflation. Key causes include an increase in money supply and deficit financing. Effects include inefficiencies in markets and uncertainty discouraging investment. Inflation is primarily measured using the Consumer Price Index. Measures to control inflation involve monetary, fiscal, and other policies like increasing production and implementing price controls.
The marginal productivity theory of distribution Prabha Panth
The document discusses the neoclassical theory of distribution and the concept of factor payments. It addresses the "adding up" problem of whether total factor payments will equal total product. Wicksteed showed that under constant returns to scale and factors paid their marginal products, total revenue will equal total costs through Euler's theorem. However, this assumes a linear homogeneous production function. Later economists like Samuelson and Hicks found the condition is only met at the minimum point of the long-run average cost curve, where a firm has constant returns to scale.
The document is an investor day presentation from Verisk that discusses the company's business strategy and outlook. It provides the following key points:
1. Verisk serves the property and casualty insurance industry across the insurance lifecycle, from product development to actuarial analysis, underwriting, claims management, and portfolio analysis.
2. Verisk provides data-driven solutions that help insurers improve profitability, including predictive modeling, policy language, and loss cost advisory information.
3. By-peril rating for homeowners insurance, which separates policy premiums by risk type, has allowed insurers using this approach to increase market share and lower loss ratios compared to competitors.
This document discusses Genworth MI Canada's 2015 Investor Day. It provides an overview of Genworth as the largest private residential mortgage insurer in Canada. It highlights Genworth's key accomplishments including strong but prudent top line growth and a high quality diversified insurance portfolio. The document also discusses Genworth's proven business model, strategic priorities, and approach to prudent risk management.
1) Symantec focused on optimizing its businesses, reducing costs, strengthening leadership, and preparing for the separation of Veritas and Symantec Security in FY15.
2) The security and information management markets are large and growing due to evolving threats and exponential data growth, but have different customer needs and buying processes.
3) Symantec aims to leverage its global scale and real-time threat visibility to drive growth in enterprise security, while new products and a subscription model aim to mitigate declines in Norton.
Symantec held its 2015 Financial Analyst Day on April 17, 2015. The presentation focused on how Symantec has driven progress in fiscal year 2015 through a focus on talent, delivering new products, strategy, and separation. It provided market dynamics for both the security and information management markets. It then discussed the strategies and unique assets of both Veritas and Symantec Security moving forward.
Q4 2023 Quarterly Investor Presentation - FINAL - v1.pdfTejal81
DoubleVerify provides media quality and safety verification solutions to help brands reduce wasted media spend and protect their brand equity. In Q4 2023, DoubleVerify saw strong growth metrics, including 27% year-over-year revenue growth, bringing total 2023 revenue to $573 million. DoubleVerify also achieved a gross revenue retention rate of over 95% and grew the number of large customers generating over $200,000 in annual revenue by 18%, demonstrating the company's ability to retain and expand key customer relationships. DoubleVerify verifies over 7 trillion media transactions annually across all major platforms and devices, utilizing its scale and independence to provide impartial third-party verification and optimize media outcomes for advertisers.
DoubleVerify provides media quality and safety verification solutions to help brands reduce wasted media spend and protect their brand equity. In Q4 2023, DoubleVerify saw strong growth metrics including 27% year-over-year revenue growth, 124% net revenue retention rate, and processing over 7 trillion media transactions. DoubleVerify has established itself as the market leader through its scale across platforms and formats, innovation in identifier-independent verification, and trust from customers as an impartial third party.
- Thinkific provides an online platform that allows entrepreneurs and businesses to create and sell online courses and other learning products.
- In Q4 2021, Thinkific's annual recurring revenue grew 43% year-over-year to $43.8 million. The average revenue per user also grew 9% to $114 per month.
- For the full year 2021, Thinkific's revenue increased 81% to $38.1 million compared to 2020, while gross merchandise volume processed through the platform grew 50% to $414.8 million.
This investor presentation provides an overview of Symantec Corporation and its strategy to separate into two publicly traded companies - Symantec Security and Veritas. It discusses Symantec's financial results and guidance, competitive advantages from its global threat network visibility and scale, product roadmaps for both security and information management, and the timeline for legal separation in early 2016. The presentation aims to show how focus on security and information management will drive accelerated growth and unlock shareholder value through the proposed separation.
DoubleVerify is a measurement and analytics software platform that drives digital ad spend optimization and supports brand messaging alignment. It has over 1,000 customers globally including many of the world's largest brands, social media platforms, digital publishers and programmatic platforms. DoubleVerify analyzes billions of data points through its platform to provide real-time analytics and measurement ensuring digital media spend is optimized and messaging is effective. It has grown significantly since being founded in 2008 through strategic acquisitions and partnerships with major platforms and technologies.
DoubleVerify is a measurement and analytics software platform that drives digital ad spend optimization and supports brand messaging alignment. In 2020, it measured over 3.2 trillion media transactions, generated $244 million in revenue, and achieved an adjusted EBITDA of $73 million. DoubleVerify ensures digital media spend is optimized and messaging is maximized through analyzing billions of data points to produce its proprietary DV Authentic Ad metric, which measures brand safety, fraud prevention, viewability, and correct geography of digital ads. The company has experienced strong growth since its founding in 2008 and continues to expand through new partnerships, product offerings, and acquisitions.
Verisk provides forward-looking statements and notes regarding non-GAAP financial measures in its investor materials. The statements relate to future events or financial performance that involve risks and uncertainties. The notes provide supplemental non-GAAP financial information and explain why the company believes these measures provide useful information to investors. Verisk has a strong track record of revenue growth, leading margins, and returning capital to shareholders through share repurchases and acquisitions.
Quanta provides investor presentations that include forward-looking statements and non-GAAP financial measures with required reconciliations. The presentation discusses Quanta's position as a leading specialty infrastructure solutions provider for the utility, energy and communications industries. It highlights Quanta's focus on sustainable growth, improving margins, expanding service offerings, developing skilled labor, and disciplined capital deployment to drive long-term value creation.
Masonite held its 2015 Investor Day to provide an overview of the company and its strategic focus areas. Masonite is a global building products company with over $1.8 billion in annual sales and leadership positions across targeted product categories in North America and internationally. The presentation highlighted Masonite's track record of acquisitions and portfolio optimization, with a focus on residential and architectural doors. Key strategic areas of emphasis included product leadership, sales and marketing excellence, and automation to drive growth and margin expansion.
We are very honored to be able to invite the Senior Managing Director of FTI Consulting (FCN US, MV $1.5bn), a billion-dollar NYSE-listed global forensic consulting firm, as a guest speaker in our SMU classes to share his knowledge and wisdom with the students in the Accounting Fraud in Asia course in Week 6, the week of 9th February. Over the years in the Asian capital jungles, the FTI people are amongst the few professionals whom I respect for their on-the-field expertise and thought leadership in the area of fraud and forensic investigation. I am sure that the talk will definitely make an impact for our SMU students who will learn not only invaluable lessons from the speaker’s knowledge and wisdom but also about FTI Consulting as their future career choice.
DoubleVerify provides media quality and security solutions to help brands protect their media investments and maximize ROI. In Q3 2023, DoubleVerify saw continued growth, with gross revenue retention of over 95% and an 11% increase in large customers generating over $200k per year. DoubleVerify verifies media transactions across all platforms, processing over 300 billion data transactions daily to detect fraud, viewability, and brand safety issues. The company's scale, innovation in identifier-independent verification, and status as an impartial third party have helped establish trust among customers and drive consistent growth.
This presentation contains forward-looking statements and discusses risks and uncertainties that could cause actual results to differ from projections. It provides an overview of Winnebago Industries' portfolio of outdoor lifestyle brands in RV, marine, and specialty vehicles. The presentation discusses Winnebago's strategic priorities, integrated operating model, investment thesis, growing revenue and market share gains, expanding portfolio and profitability, capital allocation approach, strong balance sheet and liquidity, and the large and growing outdoor recreation industry.
This presentation by Truist NDR contains forward-looking statements about Winnebago Industries' performance that are inherently uncertain. It discusses risks like uncertainty from COVID-19, economic conditions, competition, supply chain issues, and more that could impact results. It provides non-GAAP financial metrics like EBITDA to allow for comparability between periods. The document also notes the company's leadership team and strategic priorities around areas like culture, brand building, technology, customer experience, and operational excellence.
DoubleVerify provides software solutions that help brands protect their media investments and optimize media performance. In Q2 2023, DoubleVerify saw strong growth in new clients and expansions of existing clients, with 46% of new wins coming from competitive takeaways. DoubleVerify also has high customer retention rates, with 100% retention of its top 75 customers in 2022. The acquisition of Scibids AI is expected to expand DoubleVerify's addressable market and drive further growth by enhancing its solutions with artificial intelligence capabilities.
DoubleVerify provides software solutions that help brands protect their media investments from fraud and unsuitable content while improving campaign performance. In Q2 2023, DoubleVerify experienced 24% revenue growth and maintained high adjusted EBITDA margins of 30%. It continues to expand its solutions portfolio and client base, demonstrating strong retention rates of over 100% for top customers. DoubleVerify is well positioned for continued growth with opportunities in new markets, products, and technologies.
This investor presentation provides an overview of DoubleVerify's financial results for the quarter ended June 2023. It discusses DoubleVerify's business model, market opportunity in digital advertising, key growth drivers, and financial highlights. DoubleVerify provides software solutions that help advertisers protect their brands and maximize media effectiveness. It has experienced strong revenue growth, high profitability, and excellent customer retention.
Similar to Markit ir presentation march 2015 final2 (20)
IHS Markit, a global leader in critical information, analytics and solutions, will merge, creating an even larger combined company. The merger faces risks including difficulties integrating operations and achieving synergies. It requires shareholder and regulatory approval. If approved, the merger would result in a combined company with greater scale and resources.
- Markit reported financial results for Q4 and full year 2015. Revenue grew 7.4% in Q4 and 4.5% for the full year. Adjusted EBITDA grew 5.7% in Q4 and 1.8% for the full year.
- Recurring fixed revenue grew 16% in Q4 primarily due to acquisitions and new business wins in the Information and Solutions divisions. Recurring variable revenue decreased driven by lower volumes in Processing.
- Operating expenses increased 11.6% in Q4 primarily due to acquisitions and continued investment in new product development. Exceptional items decreased significantly year-over-year.
- The Information division grew revenue 6.
Goldman sachs us fincl services conf panel discussion dec 2015InvestorMarkit
Goldman Sachs US Financial Services Conference \ Dec 8th 2015
1) Markit operates three divisions that provide critical financial market information, trade processing, and advanced enterprise solutions tied to Markit technology.
2) Managed Services allows customers to buy end-to-end business outcomes by leveraging Markit's standardized technology solutions and expertise to reduce costs, operational risk, and ensure regulatory compliance.
3) Markit is well-positioned to deliver value through its extensive partnerships, distribution strengths, and data capabilities including indices, pricing, and reference data across asset classes.
Goldman sachs us fincl services conf panel discussion dec 2015InvestorMarkit
Goldman Sachs provides financial services and solutions through three divisions: Information Processing Solutions which sources and delivers critical market information and accounts for 46% of revenue; Pricing & Reference Data which processes trades for over-the-counter derivatives, foreign exchange, and syndicated loans making up 22% of revenue; and Advanced Enterprise Solutions which offers pricing data, indices, valuation tools, and enterprise software and managed services comprising 32% of revenue based on third quarter 2015 results.
Q3 15 results presentation final unencryptedInvestorMarkit
- Markit reported financial results for Q3 2015 with total revenue of $277.3 million, up 2.8% year-over-year
- Revenue growth was driven by 5.6% constant currency growth, including 5.1% organic growth in Information and 13.1% organic growth in Solutions
- Adjusted EBITDA was $123.5 million, with an adjusted EBITDA margin of 44.9% maintained from prior year
- Adjusted earnings were $68.2 million, with adjusted diluted EPS of $0.37
- Results reflected continued investment in new products and acquisitions including DealHub and CoreOne Technologies
- First quarter 2015 financial results showed solid performance with revenue increasing 8.2% on a constant currency basis and organic revenue growth of 6.1%. Adjusted EBITDA grew 3.4% and the adjusted EBITDA margin was maintained at 44.8%.
- Information segment organic revenue grew 6.3% driven by new business wins. Solutions segment organic revenue grew 14.4% due to growth in managed services and enterprise software. Processing segment organic revenue declined 2.4%.
- The company continues to maintain a strong balance sheet and reduced net debt by 28.3% through strong operating cash flow and cash inflows from option exercises.
Markit reported financial results for Q4 and full year 2014 with revenue increasing 11.3% and 12.4%, respectively. Adjusted EBITDA grew 15% in Q4 and 15.9% for the full year. All business segments saw revenue growth in 2014, with Solutions growing the fastest at 31.7% followed by Processing at 7.4% and Information at 5.9%. Net debt was reduced by 36.3% through strong operating cash flow and capital expenditure control.
- Markit reported strong financial results for Q3 2014, with revenue increasing 13.1% to a quarterly record of $269.7 million, driven by growth in all three business segments.
- Recurring revenue was 94.9% of total revenue, and recurring fixed revenue increased to 53.6% from 50.8% in Q3 2013. Adjusted EBITDA grew 14.5% to $126.8 million.
- The company saw organic growth across all segments, with Information growing 6.8% and Processing growing 12.5% due to increased trading volumes. Solutions achieved 26.2% growth driven by demand for its major products.
- Markit reported second quarter 2014 financial results, with revenue increasing 11% year-over-year to a record $264.6 million, driven by growth in all three business segments.
- Adjusted EBITDA grew 7.7% to $120 million, with an adjusted EBITDA margin of 45.4%.
- Recurring revenue was 94.7% of total revenue and recurring fixed revenue increased to 50.8% of total revenue.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
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3. 3
Markit overview
Key stock metrics
Exchange Ticker MRKT
Share Price (1) $26.05
Market Cap (1) $4.7bn
Shares Outstanding (2) 182.5m
P/E ratio (3) 17.25
Revenues FY 2014 $1.065bn
1. As of market close on March 12, 2015.
2. Shares outstanding as of 12/31/2014 excluding Employee Benefit Trust (EBT).
3. Based on FY 2014 EPS of $1.51.
4. 4
2014 overview
Key achievements in 2014
─ Strong full year 2014
financial performance
─ Successful IPO listing on Nasdaq
─ Continued innovation through
product enhancements and new
product launches to address the
needs of our customers
─ Completed two acquisitions –
thinkFolio and CTI
Well positioned to deliver on our longterm financial objectives
5. 5
Markit at a glance
Leading global provider of financial information services
Enhancing transparency | Reducing risk | Improving operational efficiency
Organisations IndividualsCoverage
Banks Corporates
Asset managers Insurance companies
Hedge funds Securities firms
Private equity funds Clearing firms
Venture capital funds Software / data vendors
Equities FX
Credit Structured finance
Loans Commodities
Rates CDS
Bonds Environmental
Traders Compliance officers
Risk managers Valuation analysts
IT professionals Actuaries
Investment professionals Research analysts
Portfolio managers
2003
founded
10
countries
3,000+institutional customers
3,600+employees
$1.065bn
2014 revenue
$488.2m
2014 Adjusted EBITDA
6. 6
Our divisions
Our operating divisions
Critical financial market
information sourced, created,
enriched and delivered
Trade processing for OTC
derivatives, FX and
syndicated loans
Advanced enterprise
solutions tied to Markit
technology and software
Information Processing Solutions
45.7%
of revenue
26.7%
of revenue
27.6%
of revenue
Pricing & reference data
Indices
Valuation and trading services
Trade processing
Multi asset class trade confirmation
and settlement platform
Enterprise software
Managed services
2014 revenue: $486.5m 2014 revenue: $284.9m 2014 revenue: $293.7m
Record $1 billion+ in revenues in fiscal 2014
7. 7
Customer focus
Deeply embedded in our customers’ systems
and workflows
Create solutions to suit
customer workflow
Develop and
adapt products
Work closely
with customers
Leverage existing
expertise and insights
Work closely with customers to develop new offerings to enhance transparency,
reduce risk and improve operational efficiency
SUCCESSFUL COLLABORATIONS WITH CUSTOMERS
Fixed Income Pricing
INDUSTRY DRIVER
Prudent valuation
Standardised capital requirement for large
banking organisations. Widespread need
for robust inputs into exposure calculation.
Portfolio Valuations
INDUSTRY DRIVER
Independent valuations
Fully hosted OTC derivative valuation
and risk services to support accounting,
regulatory and investor reporting requirements.
Markit | Genpact KYC Services
INDUSTRY DRIVER
KYC AML
Financial institutions need solution to
standardize and streamline client onboarding
─ Liquidity metrics, independent fixed income
pricing data and information on underlying
pricing inputs to simplify the sourcing of data
for additional valuation adjustments (AVA)
calculations
─ AVA calculation allowing customers to access
Markit’s centralised data hub to industrialise
reports in a timely and cost efficient manner.
─ Developed cross asset class coverage with
transparency into mark-to-market inputs and
market data available via a web front-end
─ Accounting credit valuation adjustment
(CVA) service launched in 2014 to help
customers measure and calculate impact
of counterparty risk
─ Developed partnership with four global banks:
Citi, Deutsche Bank, HSBC and Morgan Stanley
─ Service designed to collect, enrich and centrally
administer legal entity data and documents
required by banks from their clients to comply
with KYC and other regulations, including Dodd-
Frank, Emir, Fatca and Mifid
─ Launched Markit Genpact KYC Services in
May 2014
Providing two million+ aggregated data
points across Fixed Income pricing
330+ direct customers, five million+
independent valuations per month
1,000+ buyside institutions, six G14
global banks actively looking to
implement service as of March 2015
8. 8
Industry trends
Well positioned to address critical industry trends
Addressing themes and issues that are critical to our customers
Financial services industry efficiency
Emerging markets and developing economy growth
Shifting investment styles
Changing regulatory landscape
Evolving technology and communication
OTC / ET derivatives processing
Reporting and compliance
Data management
Risk management
Order management systems
Indices
Pricing, reference and valuation data
9. 9
Management team
Founder-led management team incentivised by
ownership culture
Management team has substantial experience within the industry, with an average
industry tenure of 22 years for top 35 senior managers
Name
Years
experience
Tenure with
Markit
Armins Rusis
Co-Head of Information
28 Since 2008
(Board member
since 2007)
Chip Carver
Co-Head of Information
28 Since 2008
Brad Levy
Head of
Processing
22 Since 2012
(Board member
since inception)
Michele Trogni
Head of Managed
Services
26 Since 2013
Roy Flint
Head of Infrastructure
29 Since 2008
Name
Years
experience
Tenure with
Markit
Lance Uggla
Chief Executive Officer
28 Since inception
Kevin Gould
President
28 Since inception
Jeff Gooch
Chief Financial Officer
26 Since 2007
(Board member
since 2003)
Adam Kansler
Chief Administrative
Officer
21 Since 2009
(Advisor since
inception)
Shane Akeroyd
Global Head of Sales &
Marketing
28 Since 2008
Stephen Wolff
Global Head of
Corporate Strategy
22 Since 2014
(Board member
since 2009)
10. 10
Key corporate events
Track record of acquiring and growing
complementary businesses
CDS Pricing
CDS Reference
Entity Identifiers
Dividend
Forecasting
Index
Management
OTC Derivatives
Sell-Side
Valuations
Loan Pricing
Daily Equity &
Commodities Data
ABS Pricing
Credit Event
Auctions
OTC Derivatives
Buy-Side
Valuations
Metrics
Research
Aggregation
Instant Messaging
Desktop and Data
Feed Solutions
OTC Derivative
Trade Processing
Portfolio
Reconciliation
Structured
Finance Cashflow
Modeling
Loan CDS Indices
& Pricing
Bespoke Indices
Document
Management
Macroeconomic
Data
Portfolio
Compression
Syndicated
Loan Portfolio
Management
Software
Trade
Confirmations
Loan Mapping
Service
Environmental
Registry
Evaluated Bond
Pricing
Credit Trade
Confirmation
Market Share
Analysis
Loan Settlement
Valuations
Management
Entity Identifiers
Mobile
Applications
Broker Voting
SmartText
Online Advertising
Manager
Liquidity Metrics
Loan
Processing
Risk Analytics
Quantitative
Research
and Trading
Analytics
FX Trade
Processing
Commission
Management
Loan Index
Securities Finance
Enterprise Data
Management
Credit Factors
Instrument
Reference Data
ETF Data &
Analytics
ISDA Amend
TD bank spin off
RED acquired
Nine banks invest
Totem & DaDD
acquired
LoanX acquired
Hedge funds
invest
Chasen acquired
Communicator
acquired
MarketXS
acquired
Three banks
invest
BOAT acquired
CDS IndexCo
acquired
International Index
Company
acquired
NTC Economics
acquired
FCS acquired
SwapsWire
acquired
DTCC DerivSERV
joint venture
created
TZ1 acquired
ClearPar acquired
STORM acquired
General Atlantic
invests
Wall Street on
Demand
acquired
QuIC acquired
Logicscope
acquired
QSG acquired
Data Explorers
Acquired
Cadis acquired
26 90+ 140+ 300+ 400+ 1,000+ 1,400+ 2,000+ 2,400+ 2,800+ 3,000+
CLO Pricing
RMBS Index
Tri- Party Repo
and Data Analysis
Corporate Actions
Private Equity
Valuations
Loan Analytics
Credit Checking
Tax Document
Management
Collaboration
Remaining 50% of
MarkitSERV
acquired
GCA acquired
Temasek invests
Credit Indices
European ABS
Performance
Monitoring
European Equity
Trade Reporting
Platform
Quote
Parsing
Operational
Benchmarking
2004
2005
2006
2008
2009
2011
2012
2013
2007
2010
2003
Investment
management
solutions
Social media
research signals
Flash
manufacturing
Japanese PMI
KYC services
Intraday iNAVs
Tax compliance
services
Messaging
software
RMB bond index
2014
thinkFolio
acquired
IPO
Acquired majority
stake in CTI
3,600+
Employees
Revenues
11. 11
5 year historic financial performance
Consistent financial performance
Note: Financials presented under IFRS accounting guidelines. Adjusted EBITDA, Adjusted Earnings, Adjusted earnings per share, diluted and Adjusted EBITDA margin are non-IFRS financial measures.
Please see Appendix for definitions of these measures and a reconciliation of non-IFRS financial measures to IFRS financial measures.
($ million)
668.4
762.5
860.6
947.9
1,065.1
261.0
305.0
358.2
421.3
488.2
144.9
184.8
218.4 248.4 279.0
46.2% 45.8%
47.0%
45.6%
46.0%
25%
30%
35%
40%
45%
50%
0
200
400
600
800
1,000
1,200
1,400
2010 2011 2012 2013 2014
Revenue Adjusted EBITDA Adjusted Earnings Adjusted EBITDA margin
Markit has historically delivered consistent margins and strong revenue,
Adjusted EBITDA and Adjusted Earnings growth
12. 12
Financial overview
Highly recurring and diversified revenues
Recurring-fixed renewal rate (FY 2014): ~90%
(1) Based on contracting customer legal entity location
52.5%
42.3%
5.2%
Recurring fixed
Recurring variable
Non recurring
50%
39%
11%
U.S.
Europe
Other
2014 revenue by type2014 revenue by geography(1)
14. 14
Key investment highlights
Why invest in Markit?
— Trusted partner for diversified, global customer base
— Well positioned to address critical industry trends
— Founder-led experienced management team incentivised
by ownership culture
— Demonstrated ability for product innovation and
accretive acquisitions
— Attractive financial model
16. 16
Divisions
Information
431.3
459.6
486.5
214.5 217.2 239.2
0
100
200
300
400
500
600
2012 2013 2014
Revenue Adjusted EBITDA
— Provides pricing and reference data, indices and valuation
and trading services across multiple asset classes and
geographies.
— Offerings used for independent valuations, research, trading,
and liquidity and risk assessments
— Serves buyside firms, sellside firms, exchanges, central
banks, regulators, government agencies, rating agencies,
research organisations, academics, accounting firms,
consultancies, technology and service providers, and other
companies using both direct and third-party distribution
channels
— Predominantly recurring fixed fee, subscription
based revenue
49.7% 47.3% 49.2%
Financial performance
($ million)
40%
41%
19% Valuation and
trading services
Pricing and
reference data
Indices
Subsegment revenue split
Pricing and
reference data Indices
Valuation and
trading services
Bonds, Loans, CDS
Securities finance
Cash Bond Indices
Credit Derivative Indices
Securitised Product Indices
Economic Indices
Custom Indices
Totem
Portfolio Valuations
Trading services
Adjusted
EBITDA
margin
17. 17
Divisions
Processing
— Offers trade processing solutions globally for OTC
derivatives, FX and syndicated loans
— Enables inter-dealer brokers, buyside and sellside firms,
to confirm transactions rapidly and increase efficiency by
optimizing post-trade workflow
— Reduces operational risk, facilitates compliance with
global reporting regulations and supports clearing
connectivity to 16 OTC clearing houses
— Predominantly recurring variable-fee revenue model
MarkitServ Loan Settlement
Rates
Credit
Equities
FX
US Syndicated Loans
European Syndicated Loans
238.8
265.3
284.9
124.5
138.1
156.6
0
50
100
150
200
250
300
2012 2013 2014
Revenue Adjusted EBITDA
Financial performance
($ million)
52.1% 52.1% 55.0%
Adjusted
EBITDA
margin
18. 18
Divisions
Solutions
190.5
223.0
293.7
67.6 77.5
93.1
0
50
100
150
200
250
300
350
2012 2013 2014
Revenue Adjusted EBITDA
— Provides configurable enterprise software platforms;
designs, builds and hosts financial websites; and end-to-end
managed services
— Our offerings capture, organise, process, display and
analyse information, manage risk and meet our customers’
regulatory requirements
— Broad customer base within the financial services industry
and other corporates including buyside and sellside firms,
custodians, private equity firms, wealth management firms
and retail brokerages
— A combination of recurring fixed and variable-fee revenue
model, with non-recurring revenue from software sales and
associated services
Financial performance
($ million)
57%
43%
Managed Services
Enterprise Software
Subsegment revenue split
Enterprise Software Managed Services
Enterprise Data Management (EDM)
WSO Software
Analytics
thinkFolio
On Demand
WSO Services
Counterparty Manager
Corporate Actions
Tax Solutions
Markit Genpact KYC Services
35.5% 34.8% 31.7%
Adjusted
EBITDA
margin
19. 19
Sub-segment revenue summary
Sub-segment revenue – 3 year summary
Segments FY 2012 FY 2013 FY 2014
CAGR %
FY2012 – 2014
Pricing and Reference Data 159.0 182.8 199.8 12.1%
Indices 80.3 86.6 91.5 6.7%
Valuation and Trading Services 192.0 190.2 195.2 0.8%
Information 431.3 459.6 486.5 6.2%
Processing 238.8 265.3 284.9 9.2%
Managed Services 108.3 131.6 167.6 24.4%
Enterprise Software 82.2 91.4 126.1 23.9%
Solutions 190.5 223.0 293.7 24.2%
Group 860.6 947.9 1,065.1 11.2%
Note: We reorganised certain products within our Information segment between the Pricing and Reference Data, Indices and Valuation and Trading Services sub-segments in 2014. For
comparability purposes, all prior year figures above have been presented to reflect this change.
($ million)
21. 21
Q4 and FY 2014 financial results
Summary financial results
1. Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and
intangible assets (including acquisition related intangible assets), acquisition related items, exceptional items, share based compensation and related items, net other
gains or losses, including Adjusted EBITDA attributable to joint ventures and excluding Adjusted EBITDA attributable to non-controlling interests.
2. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.
3. Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items,
share based compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to
non-controlling interests.
4. Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares used to compute earnings per share diluted.100101
Q4 2014 Q4 2013 YoY% FY 2014 FY 2013 YoY%
Revenue 271.4 243.8 11.3% 1,065.1 947.9 12.4%
Constant currency growth – – 12.4% – – 10.9%
Adjusted EBITDA(1) 124.7 108.4 15.0% 488.2 421.3 15.9%
Adjusted EBITDA margin (2) 46.3% 44.5% N/A 46.0% 45.6% N/A
Adjusted Earnings (3) 69.1 65.4 5.7% 279.0 248.4 12.3%
Adjusted EPS diluted (4) $0.37 $0.37 - $1.51 $1.41 7.1%
Weighted average number of shares
used to compute earnings per share,
diluted
187.3 176.7 6.0% 184.5 175.6 5.1%
($ million)
25. 25
Q4 and FY 2014 financial results
Solutions
61.9
79.7
22.2 24.3
0
10
20
30
40
50
60
70
80
90
Q4 2013 Q4 2014
Revenue Adjusted EBITDA
+28.8%
Q4 2014 Q4 2013 YoY% FY 2014 FY 2013 YoY%
Revenue 79.7 61.9 28.8% 293.7 223.0 31.7%
Organic growth - - 15.7% - - 17.8%
Acquisition related - - 13.9% - - 13.1%
Adjusted EBITDA 24.3 22.2 9.5% 93.1 77.5 20.1%
Adjusted EBITDA
margin
30.5% 35.9% - 31.7% 34.8% -
Q4 highlights:
─ Double digit organic revenue
growth driven by new business
wins across both Managed
Services and Enterprise Software
─ Continued momentum in KYC
across both buy and sell side
─ Margin decrease reflects
continued investment in new
initiatives
($ million)
26. 26
Q4 and FY 2014 financial results
Net debt / leverage
December
31st 2014
December
31st 2013
Bank borrowings 224.5 268.0
Share buyback 211.1 306.6
Total borrowings 435.6 574.6
Cash and cash equivalents (117.7) (75.3)
Net debt 317.9 499.3
Adjusted EBITDA 488.2 421.3
Leverage
(Net debt/ Adjusted EBITDA)
0.65x 1.19x
Highlights:
─ Operating cash flow was $369.9
million for the full year 2014, up
8.9% year on year
─ Capital expenditure full year 2014
was $124.9 million, down 4.3% or
$5.6 million year on year
─ Net debt down 36.3% or $181.4
million
($ million)
27. 27
Q4 and FY 2014 financial results
Shares outstanding
Summary
─ Average share price is a key driver of the
dilution calculation, an indicative estimate of
the impact of share price fluctuations on
diluted share count is shown in the table
─ Weighted average number of shares, diluted
is calculated in accordance with IFRS
─ The majority of options priced at below $26.70
vested on IPO
─ Options priced at $26.70 largely vest in
tranches over a 5 year period from IPO date
or January 2014
─ Option exercises will generate substantial
cash inflows as well as cash tax benefits
(million except share price) 2014 2013
Number of shares outstanding at the reporting date 182.5 176.8
Weighted average number of shares, basic 180.6 175.4
Option dilution 5.7 0.7
Restricted shares dilution 1.0 0.6
Weighted average number of shares, diluted 187.3 176.7
Share price used for Q414 dilution calculation $23.97 -
Illustrative average
share price
Illustrative diluted average
number of shares (million)
$23 186.4
$27 190.3
$30 195.8
Exercise price Outstanding (million) Unvested (million)
< $15.00 4.7 –
$15.00- $19.99 5.8 0.7
$20.00- $26.69 22.0 6.3
> $26.69 33.7 33.0
Total 66.2 40.0
Three months ended December 31st – Reported
Illustrative weighted average diluted number of shares
three months ended December 31st 2014
Total outstanding options at December 31st 2014
29. 29
North America – 1,600+
Europe – 1,000+
Asia Pacific – 900+
Global presence
22
offices
3,600+
total headcount
Locations and headcount
30. 30
Industry recognition
Innovation of the Year
Credit Event Fixings 2006
Trading Initiative of the Year
Credit Event Fixings 2006
Industry Platform of the Year
PortRec 2008
Industry Platform of the Year
Compression 2009
Lifetime Achievement
Lance Uggla 2012
OTC Infrastructure Service of the Year
MarkitSERV 2013
Back Office Technology Product of the
Year
Markit Counterparty Manager 2013
Risk Management System of the Year
Integrated resource management 2014
Asia Risk
—Technology Development of the Year 2011
AsianInvestor
—Best Tradable Index 2013
The Asset
—Rising Star Index Provider 2011
—Best Index Provider 2013
Banking Technology
—Best EDM Platform 2013
Buy-Side Technology
—Best Pricing/Valuation Service 2007
—Best Data Management Product 2007
—Best Pricing/Valuation Service 2008
—Best Overall Product 2008
—Best Data Management Product 2008
—Best Data Management Product 2009
—Best Pricing/Valuation Service 2010
—Best Data Management Product 2010
—Best Pricing/Valuation Service 2011
—Best Data Management Product 2011
—Best TCA Provider to the Buy-Side 2012
—Best Overall Buy-Side Technology Provider
2012
—Best Pricing/Valuation Service 2012
—Best Data Management Product 2012
—Best Pricing/Valuation Service 2013
—Best Data Management Product 2013
—Best Buy-Side Pricing Valuation Service 2014
—Best Data Management Provider 2014
Credit
—Best Operational Support Provider 2006
—Best Operational Support Provider 2007
—Innovation of the Year 2008
—Best Operational Support Provider 2008
—Best Third Party Asset Valuation Provider
2009
—Best Operational Support Provider 2009
—Best Third Party Asset Valuation Provider
2010
—Best Third Party Asset Valuation Provider
2011
GlobalCapital (Derivatives Intelligence)
—Data Vendor of the Year 2013
—Data Vendor of the Year 2014
Environmental Finance
—Best Registry Provider 2010
—Best Registry Provider 2011
—Best Registry Provider 2012
—Best Voluntary Carbon Registry 2013
—Best Voluntary Carbon Registry 2014
Financial News
—Best Data Solution Derivatives 2005
—Best Derivatives Provider 2006
—Best New Vendor Solution 2006
—Best Data Service 2008
—Best New Data Service 2013
—Most Innovative Compliance/ Risk Management
Service 2014
FOW
—Innovation for IT: Connectivity 2011
—Best Innovation by an ISV: Regulatory Change
2013
Funds Europe
—European Middle Office Provider 2008
—European Middle Office Provider 2010
—European Middle Office Provider 2013
FX Week
—Vendor e-FX Initiative of the Year 2012
Global Investor
—Data Vendor of the Year 2008
—Data Firm of the Year 2009
Global Custodian
—Most innovative data provider 2013
—Best Market data provider 2014
HFM Week
—Best information and data vendor (US) 2013
—Best Research and data vendor (US) 2014
Inside Market Data
—Company to Watch 2006
—Most Innovative Market Data Product 2007
—Acquisition of the Year 2007
—Best New Data Product 2008
—Best Data Provider for Derivatives 2008
—Best Data Provider for Derivatives 2009
—Best Data Provider for Derivatives 2010
—Best New Data Provider 2014
Inside Reference Data
—Reference Data Provider of the Year 2006
—Best Reference Data Provider 2007
—Best Evaluated Prices Provider 2008
—Best EDM initiative 2009
—Best EDM initiative 2011
—Best Evaluated Prices Service Provider 2012
—Best Reference Data Provider 2012
—Best Evaluated Prices Service Provider 2013
—Best Reference Data Initiative 2013
Insurance Risk
—Best Data Management Service Provider 2012
ISR
—Editor’s Award for Innovation 2006
Markets Media
—Best CDS Data 2013
— Best Company 2014
Operations Management
—Vendor of the year 2005
—Operations Leader of the Year 2008
—Deal of the Year 2008
Profit & Loss
—Best Connectivity 2013
Sell-Side Technology
—Best Sell-Side Data Management Product 2013
— Sell-Side Technology Provider of the Year 2014
— Best Sell-Side Newcomer 2014
The Asset Investment Awards
—Rising Star Index Provider 2011
The Corporate Engagement Awards
—Best Sponsorship - Employee Engagement 2011
—Best Arts-Centred Corporate Sponsorship Activity
2011
The Trade
—Outstanding Market data provider 2014
Waters Technology Rankings
—Best EDM Platform 2013
—Best Corporate Actions Service 2013
31. 31
Reconciliation
Reconciliation to Adjusted EBITDA
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 Q4 2013 Q4 2014
Profit for the period 151.2 156.2 153.1 147.0 164.1 2.9 15.7
Income tax expense 43.8 50.6 42.7 63.7 56.5 11.6 19.7
Finance costs – net 18.2 22.9 28.9 19.4 16.9 4.4 4.1
Depreciation and amortisation - other 48.2 62.7 66.7 86.0 100.1 23.6 28.2
Amortisation – acquisition related 28.5 34.4 46.2 50.1 57.9 13.1 14.6
Acquisition related items (11.3) 4.8 0.9 (1.4) (12.4) (1.6) (1.4)
Exceptional items 30.9 11.6 40.3 60.6 84.9 48.3 33.1
Share based compensation and related items 14.9 11.7 16.2 8.1 16.0 2.2 9.2
Other losses / (gains) – net 0.1 4.6 11.6 (0.7) 6.0 3.9 3.0
Share of results from joint venture not attributable
to Adjusted EBITDA
- - - - (1.1) - (1.1)
Adjusted EBITDA attributable to non-controlling
interests
(63.5) (54.5) (48.4) (11.5) (0.7) - (0.4)
Adjusted EBITDA 261.0 305.0 358.2 421.3 488.2 108.4 124.7
($ million)
32. 32
Reconciliation
Reconciliation to Adjusted Earnings
1. Unwind of discount represents the non-cash unwinding of discount, recorded through finance costs – net in the income statement, primarily in relation to our share buyback liability.
FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 Q4 2013 Q4 2014
Profit for the period 151.2 156.2 153.1 147.0 164.1 2.9 15.7
Amortisation – acquisition related 28.5 34.4 46.2 50.1 57.9 13.1 14.6
Acquisition related items (11.3) 4.8 0.9 (1.4) (12.4) (1.6) (1.4)
Exceptional items 30.9 11.6 40.3 60.6 84.9 48.3 33.1
Share based compensation and related items 14.9 11.7 16.2 8.1 16.0 2.2 9.2
Other losses / (gains) – net 0.1 4.6 11.6 (0.7) 6.0 3.9 3.0
Unwind of discount
(1)
3.4 8.9 9.3 12.4 10.5 2.6 2.7
Tax effect of above adjustments (14.6) (7.6) (24.1) (18.0) (47.4) (6.0) (6.9)
Adjusted Earnings attributable to non-controlling
interests
(58.2) (39.8) (35.1) (9.7) (0.6) - (0.9)
Adjusted Earnings 144.9 184.8 218.4 248.4 279.0 65.4 69.1
Weighted average number of shares for
computation of earnings per share, diluted
175,550,760 184,467,540 176,667,290 187,335,924
($ million)
33. 33
Q4 and FY 2014 financial results
Definitions
Revenue growth
We measure revenue growth in terms of organic revenue growth, acquisition related revenue growth, foreign currency impact on revenue growth and constant currency revenue growth. We
define these components as follows:
Organic – Revenue growth from continuing operations from factors other than acquisitions and foreign currency fluctuations. We derive organic revenue growth from the development of new
products and services, increased penetration of existing products and services to new and existing customers, price changes for our products and services and market driven factors such as
increased trading volumes or changes in customer assets under management.
Acquisition related – Revenue growth from acquired businesses through the end of the fiscal year following the fiscal year in which the acquisition was completed. This growth results from our
strategy of making targeted acquisitions that facilitate growth by complementing our existing products and services and addressing market opportunities.
Foreign currency – The impact on revenue growth resulting from the difference between current revenue at current exchange rates and current revenue at the corresponding prior period
exchange rates.
Constant currency – Total revenue growth, excluding the impact of exchange rate movements from the prior period to the current period. This is equal to the combination of organic and
acquisition related revenue growth, as described above.
Revenue by type
Revenue by type is how we classify the income recognised from the sale of our products and services into three groups as defined below:
Recurring fixed revenue – Revenue generated from contracts specifying a fixed fee for services delivered over the life of the contract. The fixed fee is typically paid annually, semiannually or
quarterly in advance. These contracts are typically subscription contracts where the revenue is recognised across the life of the contract. The initial term of these contracts can range from one to
five years and usually includes auto-renewal clauses.
Recurring variable revenue – Revenue derived from contracts that specify a fee for services which is typically not fixed. The variable fee is typically paid monthly in arrears. Recurring variable
revenue is based on, among other factors, the number of trades processed, assets under management or the number of positions we value. Many of these contracts do not have a maturity
date while the remainder have an initial term ranging from one to five years.
Non-recurring revenue – Revenue that relates to certain software license sales and the associated consulting revenue.
Other Non-IFRS Measures
Adjusted EBITDA is defined as profit for the period from continuing operations before income taxes, net finance costs, depreciation and amortisation on fixed assets and intangible assets
(including acquisition related intangible assets), acquisition related items, exceptional items, share based compensation and related items, net other gains or losses, including Adjusted EBITDA
attributable to joint ventures and excluding Adjusted EBITDA attributable to non-controlling interests.
Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue, excluding revenue attributable to non-controlling interests.
LTM Adjusted EBITDA is defined as Adjusted EBITDA for the previous twelve month period from date reported.
Adjusted Earnings is defined as profit for the period from continuing operations before amortisation of acquired intangibles, acquisition related items, exceptional items, share based
compensation, net other gains or losses and unwind of discount, less the tax effect of these adjustments and excluding Adjusted Earnings attributable to non-controlling interests.
Adjusted EPS diluted is defined as Adjusted Earnings divided by the weighted average number of shares used to compute earnings per share, diluted.