Visa: The Investment Proposition
|
|
- Francine McGee
- 6 years ago
- Views:
Transcription
1 Visa Inc Investor Day Visa: The Investment Proposition Vasant Prabhu Chief Financial Officer
2 Visa: The Investment Proposition The Global Growth Opportunity Visa s Core Assets Capturing the Growth Opportunity Managing the Challenges Visa s Track Record The Growth Model Capital Allocation Priorities
3 The Global Growth Opportunity $17 Trillion cash and check conversion opportunity Growth is approaching an inflection point, one of four over Visa s 60 year history Connected devices could drive a massive expansion in use cases and acceptance points Significant opportunity to accelerate payments volume and transaction growth
4 $17 Trillion Cash and Check Conversion Opportunity Cash and Check Opportunity USD, 2016 Europe $3.5T CEMEA $2.4T North America $3.2T LAC $1.8T Asia Pacific $6.1T Source: Visa analysis of data from Oxford Economics, The Nilson Report, Euromonitor, Haver Analytics, UK Card Association, the Central Bank of the Russian Federation, The Norges Bank, The Swiss National Bank, The Bank of Thailand, Reserve Bank of Australia, Federal Reserve, Statistics New Zealand, Saudi Arabian Monetary Agency and the Central Bank of Ireland
5 Growth is Approaching an Inflection Point, One of Four over Visa s 60 Year History Inflection Points Opening the Network The Platform as a Service ecommerce goes mainstream Visa is Everywhere You Want to Be 1960 s 1970 s 1990 s 2010 s 3 Opportunity Through New Inflection Points June 7, Opportunity Through New Inflection Points June 7, 2017 (1960) (1975) (1995) (2016) Cards <1 Million ~40 Million ~450 Million 3 Billion+ Payments Volume <$1 Billion ~$10 Billion ~$600 Billion $7 Trillion+
6 Connected Devices Could Drive a Massive Expansion in Use Cases and Acceptance Points Today 3B+ cards Tomorrow: 10x Increase ~30B ways to pay 44M merchant locations ~400M ways to be paid Source: Visa Operating Certificates CY2016. Merchant locations are provided by Visa s issuing and acquiring financial institutions; card counts include cards carrying the Visa, Visa Electron, V PAY and Interlink brands as well as PLUS proprietary cards.
7 Significant Opportunity to Accelerate Payments Volume and Transaction Growth 1 Conversion of Cash 2 Shift to Digital Commerce 3 Expanding to New Segments $17T in cash and check $2T sales, 5X growth rate vs physical 2X higher Visa share than physical $30T+ addressable spend P2P G2C B2C B2B Source: Visa analysis of data from Oxford Economics, The Nilson Report, Euromonitor, Haver Analytics, UK Card Association, the Central Bank of the Russian Federation, The Norges Bank, The Swiss National Bank, The Bank of Thailand, Reserve Bank of Australia, Federal Reserve, Statistics New Zealand, Saudi Arabian Monetary Agency, the Central Bank of Ireland, emarketer (2017), comscore (2016), McKinsey & Company (2017), EIU (2017)
8 Visa s Core Assets The resources of the four-party network reinforced by new strategic partners The scale, reliability and security of VisaNet The power of the Visa Brand Financial resources of Global Visa
9 The Resources of the Four-Party Network Reinforced by New Strategic Partners Issuance Acceptance 3B+ cards 13,000+ issuers 3,000+ acquirers 44M merchant locations Strategic Partners Governments Source: Operating certificates and Visa Networks CY201
10 The Scale, Reliability and Security of VisaNet Scale 100+ billion processed transactions 160 currencies processed 200+ countries Reliability Multiple data centers connected via multiple high bandwidth circuits Redundant connectivity, power, and cooling systems Data replication across centers for seamless failover Security Multiple layers of security Intelligence driven security Moving from reactive to proactive
11 The Power of the Visa Brand Acceptance Security Confidence Frictionless The best way to pay and be paid, for everyone, everywhere.
12 Financial Resources of Global Visa ( ) High Growth Net Revenue Growth High Margin Operating Profit Margin High Cash Cumulative Operating Cash Flow 10% Mid-60 s $30B+ Note: For a reconciliation of our GAAP to Non-GAAP financial metrics, please refer to our annual reports on form 10K.
13 Capturing the Growth Opportunity Growth Pillars Drive Digital Deepen Partnerships Expand Access Develop Best Talent Foundational Pillars Transform Technology Champion Security Leverage World-Class Brand
14 Deepen Client Partnerships: Banks Marketing Digital & Innovation Fraud & Risk Core Products Consulting Acquiring Loyalty & Offers STIP
15 Deepen Client Partnerships: Merchants Marketing Digital & Innovation Fraud & Risk Acceptance & Operations Consulting Co-Brand Loyalty & Offers
16 VisaNet Drive Digital New Use Cases Digitizing Physical POS Tapping into New Payment Flows Accelerating ecommerce Creating Next Generation Experiences Partners Strategic APIs Product Packages Payments Enabled Core Offerings Risk Mgmnt. Value-Add Services Insights Ecosystem Foundation Visa Developer Platform
17 Drive Digital Digitizing the POS New Payment Flows Accelerating ecommerce Next Gen Commerce Pays and HCE Visa Direct Visa Checkout Internet of Things Scan & Pay Token Push & Controls Innovation Centers
18 Expand Access Expand Issuance + Expand Acceptance Core Products Credit Debit Pre-paid Commercial Expansion Products Virtual Cards Visa Direct B2B Connect Cheaper, faster, smarter POS solutions Smart POS Contactless mpos QR enable significant merchant expansion New merchant categories New segments Expanding markets
19 Transform Technology
20 Transform Technology
21 Champion Security Protect Data Safeguard payment data Encryption PCI Data Harness Data Stop fraud before it occurs Detection Disruption Exchange Authentication Devalue Data Render data useless EMV chip Tokenization Empower Consumers Engage cardholders in payment security Alerts Digital controls
22 Leverage World Class Brand
23 Attract Best Talent Global / Local 69 countries with Visa staff Experienced Leadership (VP+) 42% 16% >10 years <2 years Investing in Areas of Growth 65% growth in Technology & Innovation
24 Tailoring Our Approach by Market Market Characteristics Approach Terminals per 1,000 pop PCE Penetration GDP per Capita ($K) Developed >15 >20% >$25 Developing % $5-$25 Emerging <5 <10% <$5 Provide innovative, convenient ways to pay and be paid (contactless, IoT, PAYs) Partner with technology disruptors to create new payment experiences Expand into new segments and categories Provide innovative merchant solutions Offer full range of products: affluent credit, commercial, pre-paid, etc. Massively expand acceptance, targeting everyday spend merchant categories Grow preference for Visa cards versus alternatives Government partnerships to drive electronification Introduce and grow core products: debit, credit and prepaid Build acceptance in core categories emphasis on mobile/digital Government partnerships to drive electronification Note: PCE penetration includes both credit and debit cards Source: Visa Business and Economic Insights analysis of data from Oxford Economics, The Nilson Report, Euromonitor, Haver Analytics, UK Card Association, the Central Bank of the Russian Federation, The Norges Bank, The Swiss National Bank, The Bank of Thailand, Reserve Bank of Australia, Federal Reserve, Statistics New Zealand, and Saudi Arabian Monetary Agency; Primary: Euromonitor Passport Database, Secondary: Timetric, Lafferty and RBR-EFTPOS; World Bank World Development Indicators (CY2015)
25 Managing the Challenges National Payment Schemes Faster Payments Technology Disruptors Compete aggressively with new products & innovation Continue driving preference among issuers, merchants, and consumers Use scale advantages to fund local investments in brand, acceptance, and new features Expand real-time Visa Direct product capabilities around the world globally Partner with key global platforms to embed Visa Direct as preferred payment method Develop deep commercial partnerships that support and expand the four-party model Make Visa the commerce platform of choice for any and all developers Compete vigorously where needed World-Class Brand Global Acceptance Superior Products Digital and Innovation Scale Visa Advantages Proven Real Time Network (VisaNet) Push Payment Capabilities (Visa Direct) Established Operating Regulations Trusted Brand Established Connection (Banks/Merchants) Open Access to VisaNet and Visa Services via API (Visa Developer Platform)
26 Visa s Track Record Operating Performance Net Revenue ($B) CAGR 10% x Operating Leverage (% Margin) +7 ppts = Operating Income ($B) CAGR 13% Tax Rate (%) Weighted Average Shares Outstanding (B) 1 EPS ($) -7 ppts -15% Total CAGR 18% ) Includes issuance of preferred stock convertible into approximately 79M of class A common stock in June Figures shown for fiscal year ending September 30 on adjusted Non-GAAP basis and excludes one-time, non-recurring items. For a reconciliation of our GAAP to Non-GAAP financial metrics, please refer to our annual reports on form 10K
27 Visa s Track Record Shareholder Value Creation Dividends ($B) Stock Buybacks ($B) $5.4B ( ) $25.6B ( ) Stock Price Performance (%) Total Shareholder Return (%) Visa S&P Year 3 Years 5 Years 1 Year 3 Years 5 Years 1) Includes funding of U.S. litigation escrow account which dilute class B common stock through adjustment to the conversion rate (2011: $1.2B, 2012: $1.7B, 2014: $0.5B) 2) Calculated as of May 31, 2017 Figures shown for fiscal year ending September 30
28 The Growth Model Payments Volume & Transaction Growth Net Revenue Growth Operating Leverage Operating Income Growth Financial Levers EPS Growth
29 The Growth Model Net Revenue Growth PCE Growth PCE Penetration Market Growth Market Share Net Pricing Volume Growth Value Added Services Net Revenue Growth
30 The Growth Model Net Revenue Growth Contribution ( Constant Dollar) All Other (20%) PCE Growth (20%) PCE Penetration (60%) Figures shown for fiscal year ending September 30
31 The Growth Model Client Incentives Why Client Incentives? Why High Growth? Why Difficult to Forecast? The Bottom Line Drive Payments Volume and Transaction growth Incent win-win outcomes Secure multi-year contracts Growth of Payments Volume and Transactions Exclusivity Longer contract terms Issuer consolidation Timing of renewal Terms of renewal Actual volumes/mix vs. Forecast volumes/mix Client incentives are a means to an end driving volume & Net Revenue Payments Volume ( CAGR) 9% Ensure price competitiveness Expansion to U.S. Merchants and Acquirers Processed Transactions 10% Net Revenue 10% Nominal dollar basis fiscal year ending September 30
32 The Growth Model Operating Leverage Volume Growth Variable Cost Growth Fixed Cost Inflation Productivity Core Expense Growth Investments Operating Expense Growth
33 Volume Growth Scale Productivity Inflation Investment Expense Growth The Growth Model Operating Leverage Operating Expense 1 Drivers of Operating Leverage Components of Expense Growth Brand Related 20% Support Functions 2 15% Technology Related 35% Economies of scale (fixed vs. variable cost mix) Productivity and purchasing savings Offset by % (Illustrative) 6% Product, Sales and Service Related 30% Wage and expense inflation P&L investments in new capabilities and growth programs 1. Fiscal year Excludes certain items that are either non-recurring or have no cash impact 2. Support Functions include Finance, Legal, Risk, HR, Strategy and Government Relations
34 The Growth Model EPS Growth Components of EPS Growth ( Constant Dollar) Financial Levers (30%) Stock Buybacks Tax Rates Operating Leverage Net Revenue Growth Operating Levers (70%) Figures shown for fiscal year ending September 30
35 Capital Allocation Priorities 1 Invest to Fund Growth Initiatives 2 Pay 20% to 25% of EPS in Dividends 3 Return Excess Cash Through Stock Buybacks 4 Manage Capital Structure to Sustain Debt Ratings
36 Capital Allocation Priorities 1 Invest to Fund Growth Initiatives Acquisitions Capital Investments ( ) $2.7B Invest to fund growth programs Acquire or invest in new technologies / capabilities Selective Acquisitions and Investments ( ) ~$24B P&L Cash Investments ( ) ~$3-3.5B Europe Minority Investments Figures shown for fiscal year ending September 30
37 Capital Allocation Priorities 2 Dividends Payout Ratio (%) Dividends 20 ( ) 20% - 25% Payout Ratio 12 $5.4B Stock Buybacks Buybacks 1 Weighted Average Shares Outstanding (B) 2 Deploy excess cash to buyback stock ( ) $25.6B ) Includes funding of U.S. litigation escrow account which dilute class B common stock through adjustment to the conversion rate (2011: $1.2B, 2012: $1.7B, 2014: $0.5B) 2) Includes issuance of preferred stock convertible into approximately 79M of class A common stock in June Figures shown for fiscal year ending September 30
38 Capital Allocation Priorities 4 Manage Capital Structure to Sustain Debt Ratings Current Rating: S&P (A+/A-1) / Moody s (A1/P-1) Target Leverage: 1.2x 1.5x Gross Debt / EBITDA Gross Debt / EBITDA (x LTM) 1 Debt Maturity Schedule ($16B) Cash and Investments ($10.8B) (At 3/31/17) 12/31/15 9/30/16 3/31/ Required Backstop for Settlement 4.0 1) EBITDA is a Non-GAAP metric defined as Operating Income plus Depreciation and Amortization, pro forma for the acquisition of Visa Europe and excluding one-time, non-recurring items
39 Summary Sizeable global growth opportunity Visa has powerful assets to capture this opportunity Well defined strategy and tactics tailored by market Track record of revenue and EPS growth Disciplined capital allocation Well positioned to sustain superior shareholder value creation
40 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 that relate to, among other things, our future operations, prospects, developments, strategies, business growth and financial outlook. Forward-looking statements generally are identified by words such as "believes," "estimates," "expects," "intends," "may," "projects," could," "should," "will," "continue" and other similar expressions. All statements other than statements of historical fact could be forward-looking statements, which speak only as of the date they are made, are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, many of which are beyond our control and are difficult to predict. We describe risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, any of these forward-looking statements in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended September 30, 2016 and our subsequent reports on Forms 10-Q and 8-K. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future events or otherwise. *** Note: All brand names and logos are the property of their respective owners, are used for identification purposes only, and do not imply product endorsement or affiliation with Visa. With the exception of slide titled Acceptance Penetration Drives PCE Penetration, PCE is defined as Purchase PCE (does not include non-financial transactions).
UBS Global Financial Services Conference May 14, Joseph Saunders, Chief Executive Officer. Byron Pollitt, Chief Financial Officer
UBS Global Financial Services Conference May 14, 2008 Joseph Saunders, Chief Executive Officer Byron Pollitt, Chief Financial Officer Safe Harbor Reminder The following materials and management s discussion
More informationINVESTOR PRESENTATION Worldpay, Inc. All rights reserved.
INVESTOR PRESENTATION 1 DISCLAIMER No Offer or Solicitation This presentation is provided for informational purposes only and is not intended to and shall not constitute an offer to sell or the solicitation
More informationWELCOME. TSYS Investor Day. May 24, Total System Services, Inc. Proprietary. All rights reserved worldwide.
WELCOME TSYS Investor Day May 24, 2017 2017 Total System Services, Inc. Proprietary. All rights reserved worldwide. Forward-Looking Statements This presentation and comments made by management contain
More information4Q18 Financial Results. February 26, 2019
4Q18 Financial Results February 26, 2019 Disclaimer No Offer or Solicitation This presentation is provided for informational purposes only and is not intended to and shall not constitute an offer to sell
More informationInvestor Presentation First Data Corporation. All Rights Reserved.
Investor Presentation 2015 First Data Corporation. All Rights Reserved. Disclaimer This presentation was prepared on April 29, 2016 and represents the information available to us on that date. We assume
More informationInvestor Briefing Q4 FY18
Investor Briefing Q4 FY18 1 Safe Harbor This document contains forward-looking information and financial projections subject to risks, uncertainties and other factors that could materially affect our actual
More informationCombination of Vantiv and Worldpay
Combination of Vantiv and Worldpay August 2017 1 2017 Vantiv, LLC. All rights reserved. 2017 Worldpay. All rights reserved. Safe Harbor Statement No Offer or Solicitation This presentation is not intended
More informationJefferies 2014 Global Technology, Media and Telecom Conference
Jefferies 2014 Global Technology, Media and Telecom Conference May 8, 2014 Copyright 2013 Vantiv, LLC. All rights reserved. Vantiv, and the Vantiv logo, and all other Vantiv product or service names and
More informationWORLDPAY, INC. 1Q18 Financial Results
WORLDPAY, INC. 1Q18 Financial Results May 10, 2018 1 DISCLAIMER No Offer or Solicitation This presentation is provided for informational purposes only and is not intended to and shall not constitute an
More informationUNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C FORM8-K. CURRENTREPORT PursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934
UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C.20549 FORM8-K CURRENTREPORT PursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934 DateofReport(Dateofearliesteventreported):October24,2018
More informationBank of America Merrill Lynch The Future of Financials Conference. November 6, Citi Investor Relations
Citi Investor Relations Bank of America Merrill Lynch The Future of Financials Conference November 6, 2018 Francisco Aristeguieta CEO, Citigroup Asia Pacific Agenda Franchise Overview Asia Institutional
More informationjuly 2012 CEB to Acquire SHL Compelling Value Creation, Growth, and Scale Opportunity
july 2012 CEB to Acquire SHL Compelling Value Creation, Growth, and Scale Opportunity Safe Harbor Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities
More informationNLSN 2Q 2011 Investor Presentation
NLSN 2Q 2011 Investor Presentation Forward Looking Statements The following discussion contains forward-looking statements, including those about Nielsen s outlook and prospects, in the meaning of the
More informationWASHINGTON,D.C FORM8-K. DateofReport(Dateofearliesteventreported):April25,2018 VISAINC.
UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C.20549 FORM8-K CURRENTREPORT PursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934 DateofReport(Dateofearliesteventreported):April25,2018
More informationVantiv Investor Presentation
Vantiv Investor Presentation February 1, 2017 2015 Vantiv, LLC. All rights reserved. Disclaimer This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements
More informationInvestor Briefing Q1 FY19
Investor Briefing Q1 FY19 1 Safe Harbor This document contains forward-looking information and financial projections subject to risks, uncertainties and other factors that could materially affect our actual
More informationVisa Inc. Fiscal Third Quarter 2018 Financial Results. July 25, 2018
Visa Inc. Fiscal Third Quarter 2018 Financial Results July 25, 2018 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
More information2017 Annual Meeting of Stockholders. June 27, 2017
2017 Annual Meeting of Stockholders June 27, 2017 Forward Looking Statements Today s presentation may contain, in addition to historical information, forward looking statements within the meaning of the
More informationZEBRA TECHNOLOGIES. William Blair Growth Stock Conference June 16, 2016
ZEBRA TECHNOLOGIES William Blair Growth Stock Conference June 16, 2016 Safe Harbor Statement Statements made in this presentation which are not statements of historical fact are forward-looking statements
More informationCopyright 2018 CPI Card Group. Fourth Quarter & FY 2017 Earnings Conference Call March 12, 2018
Fourth Quarter & FY 2017 Earnings Conference Call March 12, 2018 Safe Harbor Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements
More informationZEBRA TECHNOLOGIES SECOND-QUARTER 2016 RESULTS. August 9, 2016
ZEBRA TECHNOLOGIES SECOND-QUARTER 2016 RESULTS August 9, 2016 Anders Gustafsson Chief Executive Officer Mike Smiley Chief Financial Officer 2 Safe Harbor Statement Statements made in this presentation
More informationVisa Inc. Overview. August 2010
Visa Inc. Overview August 2010 Disclaimer The following materials and management s discussion of them may contain forwardlooking statements within the meaning of Section 27A of the Securities Act of 1933,
More informationVisa Inc. Reports Fiscal First Quarter 2019 Results
Visa Inc. Reports Fiscal First Quarter 2019 Results San Francisco, CA, January 30, 2019 Visa Inc. (NYSE: V) Net income of $3.0B or $1.30 per share Net revenues of $5.5B, an increase of 13% Underlying business
More informationInvestor Presentation. November 2018
Investor Presentation November 2018 Disclaimer Forward-Looking Statements: This presentation contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of
More informationBottomline Technologies Reports Second Quarter Results
Bottomline Technologies Reports Second Quarter Results Strong Growth in Subscription and Transaction Revenue Highlights Second Quarter PORTSMOUTH, N.H. February 1, 2018 Bottomline Technologies (NASDAQ:EPAY),
More information2015 Letter to Our Shareholders
2015 Letter to Our Shareholders 1 From Our Chairman & CEO Pierre Nanterme DELIVERING IN FISCAL 2015 Accenture s excellent fiscal 2015 financial results reflect the successful execution of our strategy
More informationVisa Inc. Fiscal First Quarter 2017 Financial Results. February 2, 2017
Visa Inc. Fiscal First Quarter 2017 Financial Results February 2, 2017 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
More informationGardner Denver Q Earnings Presentation. April 27, 2018
Gardner Denver Q1 2018 Earnings Presentation April 27, 2018 Replay Information Dial toll-free: +1.877.344.7529 International: +1.412.317.0088 Conference ID: #10119481 Log on to: http://investors.gardnerdenver.com
More informationZEBRA TECHNOLOGIES FIRST QUARTER 2016 RESULTS May 10, 2016
ZEBRA TECHNOLOGIES FIRST QUARTER 2016 RESULTS May 10, 2016 Anders Gustafsson Chief Executive Officer Mike Smiley Chief Financial Officer 2 Safe Harbor Statement Statements made in this presentation which
More informationWESCO International John Engel Chairman, President and CEO. EPG Conference May 16, 2016
WESCO International John Engel Chairman, President and CEO Safe Harbor Statement Note: All statements made herein that are not historical facts should be considered as forwardlooking statements within
More informationMay 2017 Investor Meetings
May 2017 Investor Meetings Safe Harbor Statement This presentation includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation
More informationINVESTOR PRESENTATION. Nasdaq London Conference November 2016
INVESTOR PRESENTATION Nasdaq London Conference November 2016 DISCLAIMERS Non-GAAP Information In addition to disclosing results determined in accordance with U.S. GAAP, Nasdaq also discloses certain non-gaap
More informationNLSN 4Q and FY 2011 Investor Presentation
NLSN 4Q and FY 2011 Investor Presentation Forward Looking Statements The following discussion contains forward-looking statements, including those about Nielsen s outlook and prospects, in the meaning
More informationTSYS Analyst Day May 20, Total System Services, Inc. All rights reserved worldwide.
TSYS Analyst Day May 20, 2015 > FORWARD-LOOKING STATEMENTS This presentation and comments made by management contain forward-looking statements including, among others, statements regarding the expected
More informationVisa Inc. Reports Fiscal Third Quarter 2018 Results
Visa Inc. Reports Fiscal Third Quarter 2018 Results San Francisco, CA, July 25, 2018 Visa Inc. (NYSE: V) GAAP Net of $2.3B or $1.00 per share and adjusted net income of $2.8B or $1.20 per share Net Revenues
More informationXylem Agrees to Acquire Sensus to Broaden Portfolio and Enhance Growth Platform AUGUST 15, 2016
1 Xylem Agrees to Acquire Sensus to Broaden Portfolio and Enhance Growth Platform AUGUST 15, 2016 Forward-Looking Statements This presentation contains information that may constitute forward-looking statements.
More informationQ Earnings Report April 26, 2017, 2:00 PM Pacific
Q1 2017 Earnings Report April 26, 2017, 2:00 PM Pacific 1 Forward Looking Statements This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933
More informationBroadridge Financial Solutions, Inc. Investor Presentation
Broadridge Financial Solutions, Inc. Investor Presentation May 2015 Forward-Looking Statements The Broadridge s May 2015 Investor Presentation and other written or oral statements made from time to time
More informationFourth Quarter & Full-Year 2017 Earnings Thursday, March 1, 2018
Fourth Quarter & Full-Year 2017 Earnings Thursday, March 1, 2018 1 Forward-Looking Statements This presentation may contain "forward-looking statements" as defined in the Private Securities Litigation
More informationNASDAQ 38th Investor Conference
NASDAQ 38th Investor Conference Mark Long Chief Financial Officer June 12, 2018 1 Forward-Looking Statements Safe Harbor Disclaimers This presentation contains forward-looking statements that involve risks
More informationWESCO International John Engel Chairman, President and CEO. William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016
WESCO International John Engel Chairman, President and CEO William Blair & Company 36 th Annual Growth Stock Conference June 14, 2016 Safe Harbor Statement Note: All statements made herein that are not
More informationMSCI. J.P. Morgan Global High Yield & Leveraged Finance Conference Kathleen Winters, CFO. February 28, 2017
MSCI J.P. Morgan Global High Yield & Leveraged Finance Conference Kathleen Winters, CFO February 28, 2017 2017 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document.
More informationWESCO International John Engel Chairman, President and CEO
WESCO International John Engel Chairman, President and CEO Raymond James 37 th Annual Institutional Investors Conference 2016 Raymond James 37th Annual Institutional Investors Conference 2016 Safe Harbor
More informationROTH Capital Partners 30 th Annual Conference. Monday, March 12, 2018
Monday, March 12, 2018 1 Forward-Looking Statements This presentation may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements
More informationNovember 2, Third Quarter 2017 Earnings Call
November 2, 2017 Third Quarter 2017 Earnings Call Forward-looking Statements This presentation, as well as other statements made by Delphi Automotive PLC (the Company ), contain forward-looking statements
More informationLender Presentation. August 15, Vantiv, LLC. All rights reserved Worldpay. All rights reserved.
Lender Presentation August 15, 2017 1 2017 Vantiv, LLC. All rights reserved. 2017 Worldpay. All rights reserved. Safe Harbor Statement No Offer or Solicitation This presentation is not intended to and
More informationFINANCIAL OVERVIEW. Jim Groch. Chief Financial Officer
FINANCIAL OVERVIEW Jim Groch Chief Financial Officer FORWARD-LOOKING STATEMENTS This presentation contains statements that are forward looking within the meaning of the Private Securities Litigation Reform
More informationACI Worldwide (ACIW) BAML 2014 Leveraged Finance Conference
ACI Worldwide (ACIW) BAML 2014 Leveraged Finance Conference December 2014 Private Securities Litigation Reform Act of 1995 Safe Harbor For Forward-Looking Statements This presentation contains forward-looking
More informationQ4 and FY 2016 Earnings
Q4 and FY 2016 Earnings Disclaimers Related to Forward-Looking Statements Certain items in this presentation and in today s discussion, including matters relating to revenue, net income (loss), and percentages
More informationVisa Inc. Reports Fiscal Second Quarter 2018 Results
Visa Inc. Reports Fiscal Second Quarter 2018 Results San Francisco, CA, April 25, 2018 - Visa Inc. (NYSE: V) GAAP Net of $2.6B or $1.11 per share Net Revenues of $5.1B, an increase of 13% Double-digit
More informationINVESTOR PRESENTATION
INVESTOR PRESENTATION NOTES TO INVESTORS FORWARD-LOOKING STATEMENTS. These materials contain forward-looking statements. Statements that describe or relate to NCR's plans, goals, intentions, strategies,
More informationDriving Profitable Growth
Driving Profitable Growth Frank Calderoni EVP and Chief Financial Officer December 7, 2012 Forward-Looking Statements This presentation contains projections and other forward-looking statements regarding
More informationClick here to edit the name of your presentation. Fourth Quarter and Full Year Earnings Results
Click here to edit the name of your presentation Fourth Quarter and Full Year 2016 Earnings Results 1 Safe Harbor Forward-Looking Statements This presentation contains forward-looking statements, within
More information406,000,000 Shares VISA INC. Class A Common Stock
The information in this preliminary prospectus is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is
More informationVerisk Analytics Mark Anquillare Group Executive, Risk Assessment EVP and Chief Financial Officer
Verisk Analytics Mark Anquillare Group Executive, Risk Assessment EVP and Chief Financial Officer William Blair 35th Annual Growth Stock Conference June 9, 2015 Forward Looking Statements, Safe Harbor
More informationSeptember Mike Poteshman. Executive VP & CFO
September 2016 Mike Poteshman Executive VP & CFO Forward looking statements We are making some forward looking statements today that use words like outlook or target or similar predictive words. Such forward
More informationACI Worldwide (ACIW) Investor Conferences
ACI Worldwide (ACIW) Investor Conferences Spring/Summer 2014 Private Securities Litigation Reform Act of 1995 Safe Harbor For Forward-Looking Statements This presentation contains forward-looking statements
More informationInvestor Presentation. March 2016
Investor Presentation March 2016 Safe Harbor Statement This presentation includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation
More informationWilliam Blair Growth Stock Conference. Eric Dey EVP & CFO
William Blair Growth Stock Conference Eric Dey EVP & CFO June 12, 2018 Safe Harbor Provision This presentation contains forward-looking statements within the meaning of the federal securities laws. Statements
More informationFirst Quarter Earnings Conference Call
First Quarter Earnings Conference Call May 3, 2017 Safe Harbor Forward-Looking Statements Statements in this presentation that are not statements of historical fact are forward-looking statements within
More informationREUTERS / Vasily Fedosenko REUTERS / Mike Blake THOMSON REUTERS 2018 FIRST-QUARTER RESULTS. May 11, 2018
REUTERS / Vasily Fedosenko REUTERS / Mike Blake THOMSON REUTERS 2018 FIRST-QUARTER RESULTS May 11, 2018 Agenda Welcome / Introduction Frank Golden First Quarter 2018 Highlights F&R Strategic Partnership
More informationMastercard Incorporated
Mastercard Incorporated Fourth-Quarter and Full-Year 207 Financial Results Conference Call February, 208 Business Update Financial & Operational Overview Economic Update Business Highlights February, 208
More informationLuxoft Holding, Inc Q2 FY2018 Call
Luxoft Holding, Inc Q2 FY2018 Call November 17, 2017 Dmitry Loschinin, CEO & President Evgeny Fetisov, CFO Disclaimer Safe Harbor Forward-Looking Statements 2 Non-GAAP Financial Measures To supplement
More informationSeptember 11, Corporate Update. Rich Tobin, President & Chief Executive Officer
September 11, 2018 Corporate Update Rich Tobin, President & Chief Executive Officer Forward-Looking Statements and Non-GAAP Measures Our comments may contain forward-looking statements that are inherently
More informationVisa Inc. Financial Results
Visa Inc. Fiscal First Quarter Financial Results February 8, 2012 Forward-Looking Statements This presentation contains forward looking statements within the meaning of the Private Securities Litigation
More information4Q15 EARNINGS PRESENTATION. January 28, 2016
4Q15 EARNINGS PRESENTATION January 28, 2016 DISCLAIMERS Non-GAAP Information In addition to disclosing results determined in accordance with GAAP, Nasdaq also discloses certain non-gaap results of operations,
More informationJeff Weiner. 1st. Chief Executive Officer at LinkedIn. LinkedIn Overview. San Francisco Bay Area Internet. Send Message View Profile
Safe harbor This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding LinkedIn Corporation
More informationInvestor Update Philip Mezey, President and Chief Executive Officer
Investor Update Philip Mezey, President and Chief Executive Officer Barbara Doyle, Vice President, Investor Relations March 2018 FORWARD LOOKING STATEMENTS Certain matters in this presentation and being
More informationFirst Data Reports Second Quarter 2017 Financial Results
First Data Reports Second Quarter 2017 Financial Results Q2 consolidated revenue of $3.0 billion, up 3; up 4 excluding currency impacts Q2 record total segment revenue of $1.8 billion, up 3; up 5 excluding
More informationMastercard Incorporated Reports Third-Quarter 2018 Financial Results
Earnings Release Mastercard Incorporated Reports Third-Quarter 2018 Financial Results Record third-quarter net income of 1.9 billion, or 1.82 per diluted share Record third-quarter adjusted net income
More informationJohn Engel Chairman, President and CEO. EPG Conference May 19, 2014
John Engel Chairman, President and CEO EPG Conference May 19, 2014 Safe Harbor Statement Note: All statements made herein that are not historical facts should be considered as forwardlooking statements
More informationCloud Contact Center Software. Five9 (NASDAQ: FIVN) Q Investor Presentation
Cloud Contact Center Software Five9 (NASDAQ: FIVN) Q2 2018 Investor Presentation Safe Harbor This presentation is proprietary and is intended solely for the information of the persons to whom it is presented.
More information36 th Annual J.P. Morgan Healthcare Conference. January 10, 2018
36 th Annual J.P. Morgan Healthcare Conference January 10, 2018 Forward-Looking Statements and Non-GAAP Financial Measures This presentation includes information that may constitute forward-looking statements,
More informationWilliam Blair Growth Stock Conference. June 13, 2012
NLSN @ William Blair Growth Stock Conference June 13, 2012 Forward Looking Statements The following discussion contains forward-looking statements, including those about Nielsen s outlook and prospects,
More informationHertz Investor Presentation. November 5, 2013 Citi North American Credit Conference New York City, NY
Hertz Investor Presentation November 5, 2013 Citi North American Credit Conference New York City, NY Forward-Looking Statements Certain statements contained in this presentation are forward-looking statements
More informationInvestor Presentation. February 2018
Investor Presentation February 2018 1 Forward Looking Statements Important Information About Littelfuse, Inc. This presentation does not constitute or form part of, and should not be construed as, an offer
More informationInvestor Presentation
Investor Presentation Roni Al-Dor, CEO Roni Giladi, CFO Yaffa Cohen-Ifrah, CMO May 2016 Q1 2016 Results www.sapiens.com 1 www.sapiens.com Safe Harbor Statement Certain statements made in this presentation
More information2018 First Quarter Investor Presentation May 11, 2018
2018 First Quarter Investor Presentation May 11, 2018 Disclaimers Cautionary Statement Regarding Forward-Looking Statements This presentation contains certain forward-looking statements as defined in Section
More informationVISA INC. FORM 8-K. (Current report filing) Filed 01/29/15 for the Period Ending 01/29/15
VISA INC. FORM 8-K (Current report filing) Filed 01/29/15 for the Period Ending 01/29/15 Address P.O. BOX 8999 SAN FRANCISCO, CA 94128-8999 Telephone (415) 932-2100 CIK 0001403161 Symbol V SIC Code 7389
More informationPolyOne Investor Presentation KeyBanc 2014 Basic Materials & Packaging Conference Boston, MA September 10, 2014
PolyOne Investor Presentation KeyBanc 2014 Basic Materials & Packaging Conference Boston, MA September 10, 2014 PolyOne Corporation Page 1 Forward-Looking Statements In this presentation, statements that
More informationCombination of Vantiv and Worldpay
Combination of Vantiv and Worldpay Transaction Update November 2017 1 2017 Vantiv, LLC. All rights reserved. 2017 Worldpay. All rights reserved. Safe Harbor Statement This document is provided for informational
More informationINVESTOR PRESENTATION MAY 2018
INVESTOR PRESENTATION MAY 2018 Forward-Looking Statements Forward-Looking Statements This presentation and other written or oral statements made from time to time by representatives of Broadridge Financial
More informationVisa Inc. Fiscal Fourth Quarter 2017 Financial Results. October 25, 2017
Visa Inc. Fiscal Fourth Quarter 2017 Financial Results October 25, 2017 Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation
More informationInvestor Update 2Q Rob LoCascio CEO Chris Greiner CFO
Investor Update 2Q 2018 Rob LoCascio CEO Chris Greiner CFO Safe Harbor Provision Statements in this presentation regarding LivePerson that are not historical facts are forward-looking statements and are
More informationHelping Clients Win with Digital
First Quarter 2018 Earnings Supplement Helping Clients Win with Digital May 7, 2018 2017 Cognizant Forward Looking Statements and Non-GAAP Financial Measures This earnings supplement includes statements
More informationFINANCIAL OVERVIEW AL MISTYSYN SENIOR VICE PRESIDENT, FINANCE & CHIEF FINANCIAL OFFICER FINANCIAL COMMUNITY PRESENTATION OCTOBER 3, 2017
FINANCIAL OVERVIEW AL MISTYSYN SENIOR VICE PRESIDENT, FINANCE & CHIEF FINANCIAL OFFICER FINANCIAL COMMUNITY PRESENTATION OCTOBER 3, 2017 Forward Looking Statement The presentations today will contain certain
More informationNovember 2017 Mike Poteshman Executive VP & CFO
November 2017 Mike Poteshman Executive VP & CFO Forward looking statements We are making some forward looking statements today that use words like outlook or target or similar predictive words. Such forward
More informationActionable Intelligence
Actionable Intelligence September 2016 Disclaimers Forward Looking Statements This presentation contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities,
More informationXYLEM INC. Q EARNINGS RELEASE FEBRUARY 1, 2018
XYLEM INC. Q4 2017 EARNINGS RELEASE FEBRUARY 1, 2018 Q4 2017 EARNINGS RELEASE FORWARD-LOOKING STATEMENTS This presentation contains information that may constitute forward-looking statements. Forward-looking
More informationMSCI THIRD QUARTER 2016
MSCI THIRD QUARTER 2016 Earnings Presentation October 27, 2016 2016 MSCI Inc. All rights reserved. Please refer to the disclaimer at the end of this document. FORWARD-LOOKING STATEMENTS Forward-Looking
More informationFinancial review Gemalto
0 0111010 0110 010 0 0110 0 011101010 0 0111010 0110 010 0 0110 0 011101010 0 0111010 0110 010 0 0110 0 011101010 0 0111010 0110 010 0 0110 0 011101010 0 0111010 0110 010 0 0110 0 011101010 0 0111010 01100100010
More informationHorizon Global First Quarter 2016 Earnings Presentation
Horizon Global First Quarter 2016 Earnings Presentation May 3, 2016 1 Safe Harbor Statement Forward-Looking Statements This presentation may contain "forward-looking statements" as defined in the Private
More informationSEMI-ANNUAL FINANCIAL REPORT AS AT JUNE 30, 2017
SEMI-ANNUAL FINANCIAL REPORT AS AT JUNE 30, 2017 TABLE OF CONTENTS First semester 2017 Management Report 3 Highlights 3 Basis of preparation of financial information 4 Adjusted financial information for
More informationACI Worldwide (ACIW) May/June 2015
ACI Worldwide (ACIW) May/June 2015 Private Securities Litigation Reform Act of 1995 Safe Harbor For Forward-Looking Statements This presentation contains forward-looking statements based on current expectations
More informationCloud Contact Center Software. Five9 (NASDAQ: FIVN) Q Investor Presentation
Cloud Contact Center Software Five9 (NASDAQ: FIVN) Q4 2017 Investor Presentation Safe Harbor This presentation is proprietary and is intended solely for the information of the persons to whom it is presented.
More informationWilliam Blair Growth Stock Conference June 15, Member FINRA/SIPC
William Blair Growth Stock Conference June 15, 2011 Member FINRA/SIPC Safe Harbor Disclosure The following information contains forward-looking statements. Forward-looking statements include statements
More informationGroupe Aeroplan Inc. Reports Strong Underlying Operating Results For Third Quarter 2010
Groupe Aeroplan Inc. Reports Strong Underlying Operating Results For Third Quarter 2010 Records one-time charges related to European Court of Justice VAT Judgment Confirms 2010 guidance on solid performance
More informationPITNEY BOWES ANNOUNCES SECOND QUARTER 2013 RESULTS
Editorial Sheryl Y. Battles VP, Corp. Communications 203/351-6808 Financial Charles F. McBride VP, Investor Relations 203/351-6349 Website www.pitneybowes.com PITNEY BOWES ANNOUNCES SECOND QUARTER 2013
More informationForward-Looking Statements
Investor Presentation January 2007 Ed Clark President & CEO TD Bank Financial Group Forward-Looking Statements From time to time, the Bank makes written and oral forward-looking statements, including in
More informationGoldman Sachs Communacopia Conference. September 19, 2012
NLSN @ Goldman Sachs Communacopia Conference September 19, 2012 Forward Looking Statements The following discussion contains forward-looking statements, including those about Nielsen s outlook and prospects,
More information