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© 2018, SYNNEX Corporation. All rights reserved.
A Technology Solutions and
Business Services CompanyFiscal Fourth Quarter,
Ended November 30, 2017
© 2018, SYNNEX Corporation. All rights reserved.
Safe Harbor Statement
Statements in this presentation regarding SYNNEX Corporation which are not historical facts may be
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. These forward-looking statements may be identified by terms
such as believe, expect, may, will, provide, could and should and the negative of these terms or other
similar expressions. These forward-looking statements include, but are not limited to, statements regarding
our business strategy; our investments; our growth and growth opportunities; our acquisition of the
Westcon-Comstor North America and Latin America businesses and minority investment in Westcon-
Comstor EMEA and APAC businesses, including the business and financial impact thereof and additional
revenue; TAM and CAGR of IT security, network infrastructure and UCC markets for each year through
2020 and $10 billion plus of incremental TAM; the complementary market enterprise and operations of
SYNNEX and the acquired businesses; the business and financial impact of our acquisition of Tigerspike;
shareholder return; margins; revenues; profits; technology trends and IT market growth; IoT spending and
installs growth; our mix shift to higher margin technology platforms and services; Hyve Solutions and BPO
Customer Care adjacent market growth; core organic growth beyond market growth in Technology
Solutions and Concentrix-focused verticals; core CRM and BPO market disruptors, trends and CAGR;
Concentrix strategic focus and double digit adjusted operating margin in FY18; our product and service
features and capabilities; and our financial goals.
These are subject to risks and uncertainties that could cause actual results to differ materially from those
discussed in the forward-looking statements. Please refer to the documents filed with the Securities and
Exchange Commission, specifically our most recent Form 10-K and Form 10-Q, for information on risk
factors that could cause actual results to differ materially from those discussed in these forward-looking
statements. Statements included in this presentation are based upon information known to SYNNEX
Corporation as of the date of presentation and SYNNEX Corporation assumes no obligation to update
information contained in this presentation.
Page 2
© 2018, SYNNEX Corporation. All rights reserved.
Facts About SYNNEX
2017
Ranked
No. 1982007, Ranked
No. 360
Consecutive,
Profitable
Quarters!
5-Year
CAGR ∼ 11%
CELEBRATING
122as of November 30, 2017
Operating Margin 3.48%
2017REVENUE
>$17.0 B
>110,000ASSOCIATES
NYSE: SNX
Operate
throughout
North and South
America, Asia-
Pacific and
Europe.
Global Leader in Magic Quadrant
Concentrix Top 5 Global CRM Business Services
Page 3
© 2018, SYNNEX Corporation. All rights reserved.
Efficient Deployment of
Technology and CE
Products and Services
through Volume and Value-
Add Distribution
Deliver High-Value
Business Services and
Solutions Through Digital
and Enabling Technologies
for the Customer
Relationship Lifecycle
All End Markets, including
Public Sector, Corporate &
Enterprise, SMB and
Consumer through Value
Added Resellers and
Retailers
The World’s Largest Data
Center Customers
Web 2.0/Social Media,
Finance, Entertainment
20,000+ Reseller and Retail Customers
Hyperscale Factories in the US and UK
A new paradigm for scale computing, with
purpose-built, large scale data center solutions
Focused Footprint in the US, Canada and Japan
Represent over 300 of the World’s Leading IT and CE
Manufacturers
5 Continents
40+ Languages
SYNNEX Today
Revenue $15B Adjusted Operating Margin (1) 2.74%
Revenue $1,990M Adjusted Operating
Margin (1) 9.04%
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of Non-GAAP Measures and
reconciliation of such measures to GAAP.
Global customers
leveraging Westcon-
Comstor brand combined
with SMB, Corporate,
Enterprise and System
Integrators
10,000+ Reseller Customers
Focused Footprint in North & Latin America
SYNNEX IT Distribution
450+ Clients
Among Top 5 Global Business Services Companies
Priority Verticals: Healthcare
and Pharmaceuticals, Banking
and Financial Services,
Insurance, Consumer
Electronics and Technology,
and Automotive
Design and Deliver Custom,
Purpose-Built Servers,
Storage, Switches
Efficient Design, Large Scale
and Worldwide Deployment
WHAT WE LOOK LIKE
WHO WE SERVE
WHAT WE DO
Represent over 130 of the World’s Leading Security, UCC and Networking Manufacturers
Single mgmt. platform
including staging,
integration, 3PL, deployment
and resource provisioning
for UCC, Network and
Security Services
100,000+ Associates Worldwide
Page 4
© 2018, SYNNEX Corporation. All rights reserved.
2.37%
2.94%3.14% 3.20%
3.48%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
2013 2014 2015 2016 2017
SYNNEX Consolidated Performance 2017 Acquisitions and Investments in the Business Driving Revenue and Margin Growth
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
Revenue ($M) Adjusted Operating Margin(1)
$10,845
$13,840 $13,338
$14,062
$17,046
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
2013 2014 2015 2016 2017
Page 5
SYNNEX Technology
Solutions
© 2018, SYNNEX Corporation. All rights reserved.
Technology Solutions 2017 Highlights
• Revenue exceeded $15B
• Westcon-Comstor acquisition bringing $2.2B of accretive margin revenue
• Significant linecard expansion with Network, UCC and Security vendors
• Adjusted ROIC of 11.3% at consolidated level
• Generated strong cash flow from operations
• Adjusted operating income was a record $413M
• Adjusted operating margin of 2.74%
+
Page 7
© 2018, SYNNEX Corporation. All rights reserved.
Technology SolutionsHigher Margin Investments in SYNNEX Cloud Solutions and Other Strategic Services Generating Revenue and Margin Expansion
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
Revenue ($M) Adjusted Operating Margin(1)
2.26%2.42%
2.56% 2.55%2.74%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
2013 2014 2015 2016 2017
$10,666
$12,756 $11,937
$12,491
$15,071
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
2013 2014 2015 2016 2017
Page 8
© 2018, SYNNEX Corporation. All rights reserved.
$2.2T
Technology
Solutions
Technology Solutions WW Marketplace
Source: IDC Worldwide Black Book, Version 4, April 2017
IT Services
$692B
Telecom
Equipment
$47B
UCC
$38B
Peripherals
$51B
Enterprise
Storage
$44BEnterprise
Network
Infrastructure
$42B
Devices
$694B
Servers
$64B
IT Security
$42B
Software
$463B
Page 9
© 2018, SYNNEX Corporation. All rights reserved.
VALUE-ADD
Design Services
Assembly & Test
Professional Services
SPECIALTY
Niche – Targeted Markets
Partner Enablement
VOLUME
Supply Chain Efficiencies
Tech Support
Inventory Management
Financing Program
SMB29-32%
Consumers10-13%
Public Sector22-25%
Enterprise32-35%
Technology Solutions: Over $15 Billion Business
Page 10
© 2018, SYNNEX Corporation. All rights reserved.
Technology Solutions Global CoverageStrategically positioned for growth
United States
Colombia
UnitedKingdom
UAE
Japan
Portugal
Spain
Saudi
Arabia
China
New Zealand
Philippines
Malaysia
Canada
Australia
Singapore
Thailand
Hong Kong
Taiwan
Indonesia
VietnamNigeria
Ghana
Senegal
Morocco
Kenya
Tanzania
MauritiusZambia
Angola
Namibia
South Africa
Johannesburg
Durban
Port ElizabethCape Town
France
TurkeyItaly
Greece
PolandGermany
Finland
Sweden
Norway
Czech Republic
DenmarkNetherlands
Belgium
SwitzerlandAustria
Mexico
Brazil
Uruguay
Chile
Peru
Ecuador
Venezuela
Argentina
Current Technology
Solutions business in
U.S., Canada, Japan, Mexico
and Latin America*Serving all countries in South America
10% Interest Westcon-ComstorEMEA and APAC businesses serving Europe and Asia markets
Guatemala
Costa Rica
Panama
DominicanRepublic
Uruguay
Page 11
© 2018, SYNNEX Corporation. All rights reserved.
SYNNEX’ Comprehensive Cloud Strategy
ENTERPRISE HYPERSCALECOMPUTING
SMALL-TO-MEDIUM BUSINESSES
End-to-end Platform, XaaS, Subscription-Based
Deployment into SMB
Building out the Hyperscale
Datacenter with Custom Built,
Energy Efficient Solutions
Enabling Private and
Hybrid on Premise
Cloud-Based Architecture
Marketplace
Community
Applications
InfrastructureElectronic Software
Download
Ability to Burst to
the Public Cloud
OpenStack Cloud
Computing Platform
IaaS Utility Finance
Open Compute Project
High-Performance Computing
Design & Integration Capabilities
Page 12
© 2018, SYNNEX Corporation. All rights reserved.
Concentrix 2017 Highlights
• Record revenue ~ $2B
• Customer satisfaction and innovation scores continue to climb
+ • Signed over $3.5B in deals
• Closed 44 new logos total, up 33% Year to year
• Generated strong cash flow from operations
• Record adjusted EBITDA ~ $246M
• Record adjusted Operating Margin over 9%
Page 14
© 2018, SYNNEX Corporation. All rights reserved.
Revenue ($M) Adjusted Operating Margin(1)
ConcentrixStrategic Acquisitions and Investment in Key Business Units Uniquely Positions Concentrix on a Global Basis
(1) Non-GAAP Measure. See the Appendix to this presentation for Definitions of
Non-GAAP Measures and reconciliation of such measures to GAAP.
8.28%
8.86%
8.00%8.27%
9.04%
2.50%
3.50%
4.50%
5.50%
6.50%
7.50%
8.50%
9.50%
2013 2014 2015 2016 2017
$189
$1,096
$1,417
$1,588
$1,990
$0
$500
$1,000
$1,500
$2,000
$2,500
2013 2014 2015 2016 2017
Page 15
© 2018, SYNNEX Corporation. All rights reserved.
Concentrix at a Glance
Page 16
© 2018, SYNNEX Corporation. All rights reserved.
Priority Industry Verticals and Service OfferingsPriority Industry Verticals and Service Offerings
Banking andFinancial Services
Payer (Member)
Support
Provider Service
Policy
Management
Enrollment
Services
Claims Auditing
& Payments
Consumer Electronics and
Technology
Collections &
Debit
Management
Risk Management
& Compliance
Credit Card
Processing
Payment
Services
Customer
Acquisition
Life & Health
Policy
Administration
Policy Issuance
Claims
Adjudication
Payment
Processing
Benefit Payments
Technology Platforms
Analytics
Consulting/Transformation
Digital Customer Engagement
Insurance
Digital
Production &
Marketing
Channel
Optimization
Loyalty
Management
Customer
Experience
Management
Acquisition &
Upsell Support
Development &
Use of Telematics
To Provide
Improved
Business
Solutions
Enabling Dealer
Channel Data To
Connect With Auto
Manufacturers,
Dealers &
Customers
Technical &
Customer Support
AutomotiveHealthcare & Pharmaceuticals
Page 17
© 2018, SYNNEX Corporation. All rights reserved.
Source: IDC 2017 research, HfS 2017 research
2018 Market Forecasts – Opportunities Larger Than Just CRM
$71BCRMBig Data & Analytics
$170B
Consulting
$37B Maintenance
Services
$137B
Back Office BPO
$119B
Vertical BPO
$206B
RPA
$629M
Artificial
Intelligence
$19.3B
Digital Services
$100B
IoT
$772B
Page 20
© 2018, SYNNEX Corporation. All rights reserved.
CRM Marketplace Disruptors
`
Core Market
Market Trends
Disruptive Areas
Growing Significantly Faster Than
Rest of Market
Core CRM market today at $71B
Expected to grow at ~3-5%
CAGR over next 5 years
BPO market at $180B, growing
at 4.8% CAGR, represents
adjacent opportunities
Digital
AI
RPA
Alternative
Workforce
Solutions
Drive towards increased
digital / non-human
(automation, AI) handling of
transactions
Higher value service offerings
and vertical expertise
becoming more critical
Mobile intelligent apps / self
service
Increased M&A activity in
digital / RPA / AI
Page 21
© 2018, SYNNEX Corporation. All rights reserved.
Concentrix Strategic Focus
Invest in the Future
Leverage Strengths Across Concentrix
Business Units
Double Digit Adjusted Operating
Margins in FY 18
Drive Brand Recognition As the
Market Leader
Continue to Invest in Key Verticals While Expanding Margins
• Continued growth in higher margin strategic verticals
• Growing share with strategic relationships
• Continue to invest in high value services• Ongoing optimization of network
• AI / Chatbots
• RPA
• Digital
• Workforce Alternatives
• Gig Platform – Tigerspike
opportunity across large customer
base
+
• Customers
• Footprint
• Technologies
• Capabilities
• Strong signings focused on disrupted technology solutions
Page 22
© 2018, SYNNEX Corporation. All rights reserved.
Recognized as Leaders by Many Industry Experts & Our Clients
Best Service Experience – Largest China Communications Company
Best Customer Effort Score – Global Technology Company
Outstanding Customer Service – Largest India Insurance Company
Customer Obsession Awards – Global eRetailer
Top Individual Contributors – Global Financial Company
Best Performing Business Partner – Top Healthcare Provider
Industry Awards
Client Recognition
Analyst Relations
Page 23
SYNNEX:
Focused on the
Future
© 2018, SYNNEX Corporation. All rights reserved.
Continued Mix Shift to Higher Margin
Technology Platforms and Services
Continued Growth and Margin Expansion
Revenue Growth Platform Sustainable Margin Expansion
Deeper Penetration of CNX in Priority
High Margin VerticalsAdjacent Market
Growth –Hyve Solutions,
BPO beyond Customer Care
Hyve Solutions
Leverage Scale in TS and
CNX to Drive More Efficiency
Core Organic Growth beyond
Market Growth in TS and CNX
Focused VerticalsContinued
Optimization of Core
Businesses
Emerging Technologies–
Third Platform/IoT/Services and CNX
Proprietary Platforms
Page 25
© 2018, SYNNEX Corporation. All rights reserved.
Investment Highlights
Strong Track Record of Revenue Growth,
Margin Expansion and Strategic Investments
WHAT WE ACCOMPLISHED
Superior Total Shareholder Return
Seasoned Management with In-Depth Industry
Experience
Recognized Leadership in Customer Care BPO
and Technology Distribution
Penetrated Growth Markets
Customer-Centric Business Strategy Focused on
Growth Markets
Page 26
Appendix
© 2018, SYNNEX Corporation. All rights reserved.
Use of Non-GAAP Financial Measures
To supplement the financial results presented in accordance with GAAP, SYNNEX uses adjusted selling,
general and administrative expenses, adjusted operating income, adjusted operating margin, adjusted
earnings before interest, taxes, depreciation and amortization, non-GAAP net income attributable to
SYNNEX Corporation, and non-GAAP diluted earnings per share (“EPS), and adjusted return on invested
capital, which are non-GAAP financial measures that exclude the amortization of intangible assets,
restructuring costs, acquisition-related and integration expenses and the related tax effects thereon. These
non-GAAP measures provide investors with an additional tool to evaluate operating results. Because these
non-GAAP measures are not calculated in accordance with GAAP, they may not necessarily be
comparable to similarly titled measures employed by other companies. These non-GAAP financial
measures should not be considered in isolation or as a substitute for the comparable GAAP measures, and
should be read only in conjunction with the Company's consolidated financial statements prepared in
accordance with GAAP.
SYNNEX management uses the non-GAAP financial measures internally to understand, manage and
evaluate the business, to establish operational goals, and in some cases for measuring performance for
compensation purposes. SYNNEX management believes it is useful for the company and investors to
review, as applicable, both GAAP information, and the non-GAAP measures in order to assess the
performance of SYNNEX’ continuing businesses and for planning and forecasting in future periods. These
non-GAAP measures are intended to provide investors with an understanding of SYNNEX’ operational
results and trends that more readily enable investors to analyze SYNNEX' base financial and operating
performance and to facilitate period-to-period comparisons and analysis of operational trends. The
management of SYNNEX believes the non-GAAP financial measures are useful to investors in allowing for
greater transparency with respect to supplemental information used by management in its financial and
operational decision-making. A reconciliation of SYNNEX’ non-GAAP financial information to GAAP is set
forth in the supplemental information tables in the following slides.
Page 28
© 2018, SYNNEX Corporation. All rights reserved.
Definition of Non-GAAP Financial Measures
Non-GAAP financial measures included in this presentation are:
Adjusted operating income, which is operating income as adjusted to
exclude acquisition-related and integration expenses, restructuring costs
and the amortization of intangible assets.
Adjusted operating margin, which is Adjusted operating income as defined
above, divided by Revenue.
Non-GAAP diluted EPS, which is diluted EPS excluding the per share, tax
effected impact of (i) acquisition-related and integration expenses, (ii)
restructuring costs, and (iii) amortization of intangible assets.
© 2018, SYNNEX Corporation. All rights reserved. Page 29
© 2018, SYNNEX Corporation. All rights reserved.
Reconciliation of GAAP to Non-GAAP Financial Measures(Amounts in thousands, except per share amounts)
2012 2013 2014 2015 2016 2017
Consolidated
Revenue 10,285,507$ 10,845,164$ 13,839,590$ 13,338,397$ 14,061,837$ 17,045,700$
Operating Income 255,012$ 240,828$ 308,507$ 354,552$ 379,596$ 508,965$
Acquisition-related and other integration expenses - 8,394 43,036 10,109 10,393 4,781
Restructuring costs - - - - 4,255 -
Amortization of intangibles 8,289 7,953 55,161 54,756 55,490 79,181
Adjusted operating income 263,301$ 257,175$ 406,704$ 419,417$ 449,734$ 592,927$
Depreciation expense 16,341 16,509 36,538 48,754 65,803 80,705
Adjusted EBITDA 279,642$ 273,684$ 443,242$ 468,171$ 515,537$ 673,632$
Operating margin 2.48% 2.22% 2.23% 2.66% 2.70% 2.99%
Adjusted operating margin 2.56% 2.37% 2.94% 3.14% 3.20% 3.48%
Technology Solutions
Revenue 10,135,795$ 10,666,215$ 12,755,514$ 11,936,660$ 12,490,718$ 15,071,185$
Operating income 248,924$ 237,290$ 305,499$ 302,950$ 315,485$ 394,320$
Acquisition-related and integration expenses 3,724$
Amortization of intangibles 3,882 3,912 3,538 2,630 2,657 14,929
Adjusted operating income 252,806$ 241,202$ 309,037$ 305,580$ 318,142$ 412,973$
GAAP operating margin 2.46% 2.22% 2.40% 2.54% 2.53% 2.62%
Adjusted operating margin 2.49% 2.26% 2.42% 2.56% 2.55% 2.74%
Concentrix
Revenue 159,522$ 189,463$ 1,096,214$ 1,416,670$ 1,587,736$ 1,990,180$
Operating income 6,376$ 3,249$ 2,455$ 51,127$ 63,877$ 114,623$
Acquisition-related and other integration expenses - 8,394 43,036 10,109 10,393 1,057
Restructuring costs - - - - 4,255 -
Amortization of intangibles 4,407 4,041 51,623 52,126 52,833 64,252
Adjusted operating income 10,783$ 15,684$ 97,114$ 113,362$ 131,358$ 179,932$
GAAP operating margin 4.00% 1.71% 0.22% 3.61% 4.02% 5.76%
Adjusted operating margin 6.76% 8.28% 8.86% 8.00% 8.27% 9.04%
Fiscal year ended November 30,
Page 30
© 2018, SYNNEX Corporation. All rights reserved.
Reconciliation of GAAP to Non-GAAP Financial Measures(Amounts in thousands, except per share amounts)
(Continued)
2012 2013 2014 2015 2016 2017
Diluted EPS(1)3.96$ 3.02$ 4.57$ 5.24$ 5.88$ 7.51$
Acquisition-related and other integration expenses 0.22 1.09 0.25 0.26 0.12
Restructuring charges - - - - 0.11 -
Amortization of intangibles 0.22 0.21 1.40 1.38 1.39 1.97
Impact of conversion premium(2)- 0.97 - - - -
Income taxes related to the above(3)(0.08) (0.14) (0.91) (0.59) (0.60) (0.74)
Non-GAAP Diluted EPS(4)4.10$ 4.28$ 6.16$ 6.28$ 7.04$ 8.86$
Fiscal year ended November 30,
(3) The tax effect of the non-GAAP adjustments was calculated using the effective year-to date tax rate during the respective fiscal periods, except for the
acquisition-related and other integration expenses for fiscal year 2013, which was calculated using the tax deductible portion of the expenses and applying the
entity-specific, U.S. Federal and blended state tax rates.
(4) The sum of the components of Non-GAAP Diluted EPS may not agree to totals, as presented, due to rounding.
(2) For fiscal year 2013, net income attributable to SYNNEX Corporation for the purpose of computation of diluted EPS was adjusted for the change in the
estimated value of the conversion premium of convertible notes from April 2013 through the final settlement date. The convertible notes were settled in the third
quarter of fiscal year 2013.
(1) Diluted EPS for LTM 2017 represents the sum of the Diluted EPS of each of the last four quarters ended on May 31, 2017.
Page 31
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