Unlocking Our Growth Opportunity

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1 Unlocking Our Growth Opportunity Thomas Seifert EVP and Chief Financial Officer Forward Looking Statements This presentation contains statements regarding our projected financial and business results, which may be considered forwardlooking within the meaning of the U.S. federal securities laws, including statements regarding our financial guidance and targets (as a combined company and by business segment); our proposed separation into two publicly traded companies; the projected market growth rates and margin expansion opportunities for the security business and the information management business; statements regarding our competitive advantages in security and information management; statements with respect to the proposed timing of the separation; and statements with respect to proposed capital allocation strategies for both Symantec and. These statements are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied in this presentation. Such risk factors include those related to: risks related to the separation of the company into the security business and the information management business; general economic conditions; maintaining customer and partner relationships; the anticipated growth of certain market segments, particularly with regard to security and information management; the competitive environment in the industries in which we operate; changes to operating systems and product strategy by vendors of operating systems; fluctuations in currency exchange rates; the timing and market acceptance of new product releases and upgrades; the successful development of new products; and the degree to which these products and businesses gain market acceptance. Actual results may differ materially from those containedintheforward looking statements in this presentation. We assume no obligation, and do not intend, to update these forward looking statements as a result of future events or developments. Additional information concerning these and other risks factors is contained in the Risk Factors sections of our Form 10 K for the year ended March 28, 2014 and our Form 10 Q forthe quarter ended January 2, Any information regarding pre release of Symantec offerings, future updates or other planned modifications is subject to ongoing evaluation by Symantec and therefore subject to change. This information is provided without warranty of any kind, express or implied. Customers who purchase Symantec offerings should make their purchase decision based upon features that are currently available. We assume no obligation to update any forward looking information contained in this presentation. 2 FINANCIAL OVERVIEW 1

2 Use of GAAP and Non GAAP Financial Information Our results of operations have undergone significant change due to a series of acquisitions, the impact of stock based compensation, impairment charges and other corporate events. To help our readers understand our past financial performance and our future results, we supplement the financial results that we provide in accordance with generally accepted accounting principles, or GAAP, with non GAAP financial measures. The method we use to produce non GAAP results is not computed according to GAAP and may differ from the methods used by other companies. Our non GAAP results are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non GAAP financial measures internally to understand, manage and evaluate our business and make operating decisions. These non GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Investors are encouraged to review the reconciliation of our non GAAP financial measures to the comparable GAAP results, which can be found, along with other financial information, on the investor relations page of our website at Reconciliations for our financial results and guidance can be found on Symantec s investor relations website. 3 Agenda 1 Path to Growth and Improving Profitability 2 FY15 Highlights 3 FY15 17: Guidance and Targets 4 Cash Flow and Capital Allocation 5 Separation and Restructuring 4 FINANCIAL OVERVIEW 2

3 Path to Accelerating Growth and Improving Profitability FY15 FOCUS FY16 ACCELERATE FY17 UNLOCK VALUE Returning to growth Right sized cost structure Achieved profitability targets Returned cash to shareholders Build on FY15 growth momentum Continue to expand margin Deliver on product roadmap Execute on separation Security Accelerated growth Further improved margin Two streamlined businesses Significant cash flow generation 5 FY15 Highlights Returning to Growth Achieved our Profitability Targets Executed on Operational Initiatives Implied Billings and Deferred Revenue Growth 1 Implied Billings Growth Deferred Revenue Growth 3% 2% Operating Margin 2 27% 28% Hit Growth and efficiency initiatives delivered $150M+ 25% 30% in incremental operating profit, and we are tracking at a run rate of 8% FY14 6% FY15E FY13 FY14 FY15E target in 3Q15 ~$225M into FY16 1. Adjusted for FX and extra week in the June 2014 quarter; Growth assumptions for 4Q15 based on management discretion. 2. Non GAAP financial measure. See for a reconciliation to the applicable GAAP financial measure. 6 FINANCIAL OVERVIEW 3

4 Building Momentum while Executing Separation Security World s largest civilian cyberintelligence threat network #1 in Backup and Recovery Focus and strategic flexibility to address market dynamics driven by different trends and customer needs Reduce operational complexity Enable each business to unlock its full growth potential and win in its respective market 7 : Accelerating Growth and Significant Margin Expansion FY15 FOCUS FY16 ACCELERATE FY17 UNLOCK VALUE Rev. Growth: ~2% Op. Margin: ~20% Growth accelerated to 5% in 3Q15 vs. (4%) decline in FY14 Fastest appliance growth in industry Right sized cost structure 12 percentage point op margin improvement over last 3 quarters Guidance Rev. Growth: 4% 7% Op. Margin: 27% 29% Enterprise backup software and appliances to drive growth GTM effectiveness Operating leverage Billings momentum Targets Rev. Growth: 5% 8% Op. Margin: 29% 30% New offerings accelerate FY17 revenue growth Margin improvement driven by increasing sales productivity 1. FY15 and FY16 revenue growth adjusted for FX and extra week in the June 2014 quarter; FY16 growth compared to midpoint of FY15 guidance. 2. Op. margin expansion at constant currency. 3. 4Q15 revenue and op margin allocated to segments based on management s discretion. 4. Op. margin is a non GAAP financial measure. See for a reconciliation to the applicable GAAP financial measure. 5. FY16 and FY17 revenue and op margin assume FX rate of /$ FINANCIAL OVERVIEW 4

5 Consumer Security: Improving Revenue Outlook with Outstanding Margin FY15 FOCUS FY16 ACCELERATE FY17 UNLOCK VALUE Rev. Growth: ~(7%) Op. Margin: ~53% Exited unprofitable OEMs and retail markets Massive business simplification and cost reduction Formed business unit in April 14 Shift to subscription Guidance Rev. Growth: (8%) (5%) Op. Margin: 52% 54% Subscription and pricing optimization Shift toward online acquisition Merchandising Optimize marketing spend Targets Rev. Growth: (6%) (3%) Op. Margin: 51% 55% Leverage consumer mobile Customer experience improvements Premium support services 1. FY15 and FY16 revenue growth adjusted for FX and extra week in the June 2014 quarter; FY16 growth compared to midpoint of FY15 guidance. 2. Op. margin expansion at constant currency. 3. 4Q15 revenue and op margin allocated to segments based on management s discretion. 4. Op. margin is a non GAAP financial measure. See for a reconciliation to the applicable GAAP financial measure. 5. FY16 and FY17 revenue and op margin assume FX rate of /$ Enterprise Security: Accelerating Growth and Margin Expansion FY15 FOCUS FY16 ACCELERATE FY17 UNLOCK VALUE Rev. Growth: ~(2%) Op. Margin: ~14% Positioning and investing for growth Operational performance improvement Guidance Rev. Growth: 1% 6% Op. Margin: 10% 12% 3 new ATP products 2 new Cybersecurity services 2 unified security offerings GTM effectiveness Subscriber growth for services and content Targets Rev. Growth: 6% 10% Op. Margin: 14.5% 16.5% Unified security analytics platform monetization Growth from cloud and mobile offerings 1. FY15 and FY16 revenue growth adjusted for FX and extra week in the June 2014 quarter; FY16 growth compared to midpoint of FY15 guidance. 2. Op. margin expansion at constant currency. 3. 4Q15 revenue and op margin allocated to segments based on management s discretion. 4. Op. margin is a non GAAP financial measure. See for a reconciliation to the applicable GAAP financial measure. 5. FY16 and FY17 revenue and op margin assume FX rate of /$ FINANCIAL OVERVIEW 5

6 Scale & Scope of Enterprise Security Franchises Underpin Growth Endpoint Security #1 share; AAArating nine quarters in a row Data Protection #1 DLP share 100% of Fortune 100 and Web Security #1 share; 100% availability with <0.0003% FPs Authentication & Authorization 13B validations every day 100% uptime last 5 years SSL Certificates #1 share 6B certificate lookups/day Managed Security Services 5 global SOCs 30B logs analyzed/day Source: IDC, Gartner, Symantec. 11 Enterprise Security Growth Levers Unlock Significant Value NEW BUSINESS >$350M 100bps of new TAM over next 3yrs Focused and dedicated sales force RETENTION >$800M Annual Renewal opportunity Industry leading likelihood to renew 1 PRICING >$100M 100bps improvement in price realization bps leads to larger impact on Op Margin UPSELL/ CROSS SELL >5X likelihood of selling more to existing customers than new customers >$1Bn Each customer buys +1 product 1. Highest Likelihood to renew for Enterprise Security customers (Oct 14 Brand Survey, 9 Countries, 6,300 Customers) 12 FINANCIAL OVERVIEW 6

7 FY15 17: Path to Accelerating Growth and Improving Profitability FY15 FOCUS FY16 ACCELERATE FY17 UNLOCK VALUE Rev. Growth: (1%) 0% Op. Margin: 27.5% 27.7% EPS Growth: ~1% Achieved profitability targets Right sized cost structure Returned cash to shareholders Guidance Rev. Growth: 0 2% Op. Margin: 29% 30% EPS Growth: 8 14% Build on FY15 growth momentum Continue to improve margin Execute on separation Deliver on product roadmap Targets Rev. Growth: 2% 6% Op. Margin: 30% 32% Security Rev. Growth: 1% 4% Op. Margin: 30% 33% Rev. Growth: 5% 8% Op. Margin: 29% 30% 1. FY15 revenue and EPS growth adjusted for FX. Includes extra week in the June 2014 quarter. 2. 4Q15 revenue and op margin allocated to segments based on management s discretion. 3. Op. margin and EPS are non GAAP financial measures. See for a reconciliation to the applicable GAAP financial measure. 4. Op. margin expansion at constant currency. 5. FY16 revenue and EPS growth adjusted for FX and extra week in the June 2014 quarter; Growth compared to midpoint of FY15 guidance. 6. FY16 and FY17 revenue and op. margin, and FY16 EPS assume FX rate of /$ FY16 and FY17 revenue and op. margin pro forma for combined Symantec Security and. 13 Improving Cash Flow from Operations Cash Flow from Operations ($ in billions) 1 ~$1.3 ~$1.5 ~$1.8 Continued margin momentum and accelerating growth drive significant cash flow ~12% ~26% Security Disciplined capital allocation FY15E FY16E Guidance FY17E Target 1. FY15 CFFO based on 1Q15 3Q15 actuals + 4Q15 estimate based on management discretion. 2. FY16 and FY17 CFFO based on midpoint of FY16 guidance and FY17 targets; growth rates not adjusted for currency. 14 FINANCIAL OVERVIEW 7

8 Capital Allocation Strategy Pre Separation Post Separation Continue to return the same level of cash dividends and buybacks as in FY15 until legal separation Security Attractive dividend yield and share repurchase program More details on capital structure and allocation to come post filing the Form On Track to Separate as an Attractive Standalone Business FY2016 FY16 Q1 FY16 Q2 FY16 Q3 FY16 Q4 Sales force separated Form 10 Filing Credit Rating Discussions Operational Separation (October 3, 2015) Legal Separation (January 2, 2016) Expect separation costs of $170 $190M Expect restructuring costs of $165 $195M 16 FINANCIAL OVERVIEW 8

9 Summary: Unlocking Our Growth Opportunity FOCUS drove implied billings and deferred revenue growth at target profitability Building on momentum to ACCELERATE growth & margin expansion through new offerings On track to separate as an attractive standalone business Growth on more efficient cost base drives significant cash flow & EPS improvement Committed to UNLOCK VALUE and continue to return cash to shareholders 17 Q&A Michael Brown and Thomas Seifert President and Chief Executive Officer, and EVP and Chief Financial Officer FINANCIAL OVERVIEW 9

10 Appendix FY15 Guidance and Reconciliation of GAAP to Non GAAP Operating Margin and Earnings Per Share (1) (2) $ in millions, except per share data, unaudited Year Ended April 3, 2015 Year Over Year Growth Rate (3) (4) Revenue Guidance Range Actual Constant Currency (5) Revenue range $6,515 $6,575 (2.8%) (1.9%) (0.8%) 0.2% Year Ended April 3, 2015 Year Over Year Increase (3) Operating Margin Guidance and Reconciliation Range Actual Constant Currency (5) GAAP operating margin 18.8% 19.0% 110 bps 130 bps 198 bps 221 bps Add back: Stock based compensation 3.0% Other non GAAP adjustments 5.7% Non GAAP operating margin 27.5% 27.7% 10 bps 30 bps 85 bps 109 bps Year Ended April 3, 2015 Year Over Year Growth Rate (3) Earnings Per Share Guidance and Reconciliation Range Actual GAAP diluted earnings per share range $1.23 $1.26 (3.9%) (1.6%) Add back: Stock based compensation, net of taxes $0.21 Other non GAAP adjustments, net of taxes $0.43 Non GAAP diluted earnings per share range $1.87 $1.90 (4.1%) (2.6%) 1. This presentation includes non GAAP measures. Non GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these non GAAP measures, please see Appendix A. 2. Non GAAP measures for fiscal 2015 have been revised to reflect a change in methodology that reduces the number of adjustments to GAAP measures. For a detailed explanation of this change in methodology, please see Change in non GAAP methodology in Appendix A. 3. We have a 52/53 week fiscal accounting year. The fiscal year ended April 3, 2015 consists of 53 weeks, whereas the fiscal year ended March 28, 2014 consisted of 52 weeks. 4. Growth rates are calculated using fiscal year 2014 non GAAP revenue. 5. Management refers to growth rates adjusting for currency fluctuations in foreign currency exchange rates so that the business results can be viewed without the impact of these fluctuations. We compare the percent change of the results from one period to another period in order to provide a consistent framework for assessing how our underlying businesses performed. To exclude the effects of foreign currency rate fluctuations, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the actual exchange rates in effect during the respective prior periods. 20 FINANCIAL OVERVIEW 10

11 FY16 Guidance and Reconciliation of GAAP to Non GAAP Operating Margin and Earnings Per Share (1) (2) $ in millions, except per share data, unaudited Year Ended April 1, 2016 Year Over Year Growth Rate (2) Revenue Guidance Range Actual Constant Currency (3) Revenue range $6,210 $6,350 (5.1%) (3.0%) (1.5%) 0.7% Year Ended April 1, 2016 Year Over Year Increase (2) Operating Margin Guidance and Reconciliation Range Actual Constant Currency (3) GAAP operating margin 14.5% 15.5% (440 bps) (340 bps) (304 bps) (204 bps) Add back: Stock based compensation 4.6% Other non GAAP adjustments 9.9% Non GAAP operating margin 29.0% 30.0% 140 bps 240 bps 246 bps 346 bps Year Ended April 1, 2016 Year Over Year Growth Rate (2) Earnings Per Share Guidance and Reconciliation Range Actual GAAP diluted earnings per share range $0.86 $0.96 (30.9%) (22.9%) Add back: Stock based compensation, net of taxes $0.30 Other non GAAP adjustments, net of taxes $0.64 Non GAAP diluted earnings per share range $1.80 $1.90 (4.5%) 0.8% 1. This presentation includes non GAAP measures. Non GAAP financial measures are supplemental and should not be considered a substitute for financial information presented in accordance with GAAP. For a detailed explanation of these non GAAP measures, please see Appendix A. 2. We have a 52/53 week fiscal accounting year. The fiscal year ended April 1, 2016 consists of 52 weeks, whereas the fiscal year ended April 3, 2015 consisted of 53 weeks. 3. Management refers to growth rates adjusting for currency fluctuations in foreign currency exchange rates so that the business results can be viewed without the impact of these fluctuations. We compare the percent change of the results from one period to another period in order to provide a consistent framework for assessing how our underlying businesses performed. To exclude the effects of foreign currency rate fluctuations, current and comparative prior period results for entities reporting in currencies other than United States dollars are converted into United States dollars at the actual exchange rates in effect during the respective prior periods. 21 Fiscal 2016 Guidance $ in millions, except EPS FY16 Guidance 1 % Adj. Growth 2 Consumer Security Enterprise Security $2,570 +/ $30 $1,690 +/ $30 $2,020 +/ $50 4% 7% (8%) (5%) 1% 6% Total Revenue $6,280 +/ $70 0% 2% Consumer Security Enterprise Security 27% 29% 52% 54% 10% 12% Non GAAP Operating Margin 29% 30% 2.9pts 3.9pts Non GAAP EPS $1.80 $1.90 8% 14% Cash Flow from Operations $1,450 +/ $50 1. Guidance at FX rate of /$ 1.13; Segment ranges are wider than total revenue range. 2. Adjusted for FX and extra week in the June 2014 quarter; growth compared to midpoint of FY15 guidance and allocated to segments based on management s discretion. 22 FINANCIAL OVERVIEW 11

12 Fiscal 2017 Targets $ in millions Revenue Consumer Security Enterprise Security Non GAAP Operating Margin Consumer Security Enterprise Security Cash Flow from Operations Symantec Security FY17 Targets 1 % Adj. Growth 2 $2,740 +/ $40 5% 8% $1,615 +/ $25 (6%) (3%) $2,180 +/ $40 6% 10% 29% 30% 1 pts 2 pts 51% 55% (2) pts 2pts 14.5% 16.5% 3.5 pts 5.5 pts $785 +/ $35 $1,040 +/ $40 1. Guidance at FX rate of /$ Growth and margin expansion compared to midpoint of FY16 guidance. 23 Financial Target Summary $ in millions FY15E 1 FY16E 2,3 FY17E 3 Adj. Revenue Growth (1%) 0% 0% 2% 2% 6% Symantec Security 4% 7% (4%) 1% 5% 8% 1% 4% Non GAAP Operating Margin 27.5% 27.7% 29% 30% 30% 32% Symantec Security 27% 29% 30% 31% 29% 30% 30% 33% Non GAAP EPS 4 $1.87 $1.90 $1.80 $1.90 Note: Guidance for FY15 at FX rate of $1.28; FY16 & FY17 at FX rate of /$ FY15 growth includes extra week. 2. FY16 growth excludes extra week in FY Pro forma metrics assuming both Symantec Security and are together for all 4 quarters of FY16 and FY Non GAAP EPS at actual rates and not adjusted for extra week in the FY15 June 2014 quarter. 24 FINANCIAL OVERVIEW 12

13 As Reported Growth Rates $ in millions, except EPS FY16 Guidance 1,2 FY17 Targets 1,2 Consumer Security Enterprise Security (1%) 2% (13%) (10%) (5%) 0% 5% 8% (6%) (3%) 6% 10% Total Revenue (5%) (3%) 2% 6% Non GAAP EPS (4.5%) 0.8% 1. Guidance at FX rate of /$ 1.13; FY16 growth rates based on midpoint of FY15 guidance which includes the extra week in the June 2014 quarter. 2. Total revenue pro forma for combined Symantec Security and. 25 FINANCIAL OVERVIEW 13