Micro Focus International Plc FY22 Rev $2.5B [MarketWatch]
Micro Focus Intl PLC ADS each representing One Ord Sh (MFGP)
US:NYSE Investor Relations:
investors.microfocus.com
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Source: MarketWatch
The U.K. software group said revenue on a constant-currency basis is expected to be $2.5 billion for the year ended Oct. 31, down 7% on that basis. On a reported basis, revenue declined 13%. This includes declines in its Licensing, Maintenance and Consulting businesses of 9%, 7% and 3%, respectively, offset by a 9% increase in revenue from software-as-a-service and other recurring revenues. Adjusted Ebitda is expected to be around $900 million, down from $1.0 billion a year before at a margin of around 35%. The company said its cost-saving programs generated around $200 million of annualized savings, partially mitigating the hit from a decline in revenue. At Oct. 31, the company said it had cash balances exceeding $500 million and net debt of about $3.5 billion. Micro Focus said it made significant strategic progress in fiscal 2022, becoming increasingly customer-centric building key portfolio growth and delivering savings. "To date, demand has remained robust in the face o
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