Conduent to Present Business Strategy at Investor Event Today
December 05 2016 - 6:45AM
Business Wire
Highlights strategy to drive margin improvement and adjusted
EBITDA growth
At its first-ever investor event being held today and available
via audio webcast from New York City, Conduent Chief Executive
Officer Ashok Vemuri and Chief Financial Officer Brian Walsh will
present the company’s strategy with a focus on delivering long-term
value for shareholders through profit and margin expansion,
innovation and diversified solutions and platforms.
Conduent is a leader in business process services delivering
seamless, mission-critical interactions for businesses, governments
and their constituents globally.
"Today’s event marks our first opportunity to present the full
investment story of our new company, and we believe it is
compelling," said Ashok Vemuri, CEO of Conduent. “We have a
relentless commitment to driving profitable growth at Conduent. Our
goal is to leverage our strong client relationships, scale and
technology enabled solutions to drive top and bottom line
growth.”
Investment Highlights
- Operates in a $260 billion industry
growing at mid-single digits
- There is a significant opportunity for
the company to capture a greater share of that growth
- Conduent has a large, quality client
base diversified across industry verticals:
- Diversification allows the company to
mitigate risk and apply capabilities across industries to expand
our offering reach
- Recurring revenue model, with 86
percent renewal rate, enables stability to support strong and
growing cash flow generation
- Conduent is taking on a major cost
transformation program aiming to deliver approximately $700 million
in savings through 2018
- This represents a significant margin
expansion opportunity
- It will strengthen the bottom line,
unlock capacity to reinvest in the business and drive top-line
improvements
- Conduent will employ a disciplined
capital allocation strategy targeted toward high-return, low-risk
opportunities to enhance shareholder value
Audio Webcast and SlidesTo participate in the meeting via
live webcast at 8 a.m. ET today visit
https://livestream.com/ICENYSE/conduentinvestor or
https://www.xerox.com/investor.
A recording and copy of the presentation will also be available
as an archive at the Xerox website under the "investors"
section.
Conduent to Trade on New York Stock ExchangeOn Dec. 31,
2016, Xerox Corporation (NYSE: XRX) will separate into two
independent, publicly traded companies: Xerox Corporation and
Conduent Incorporated.
Beginning on or about Dec.13, 2016 and continuing until the
distribution date, Dec. 31, 2016, it is expected that Conduent
common stock will trade on a “when issued” basis on the New York
Stock Exchange (“NYSE”) under the ticker symbol “CNDT WI”.
On Tuesday, Jan. 3, 2017, when-issued trading of Conduent common
stock will end and Conduent common stock will begin trading
“regular way” on the NYSE under the ticker symbol “CNDT”. Xerox
will continue to trade on the NYSE under the ticker symbol
“XRX”.
About ConduentConduent is the world’s largest provider of
diversified business process services with leading capabilities in
transaction processing, automation, analytics and constituent
experience. We work with both government and commercial customers
in assisting them to deliver quality services to the people they
serve.
We manage interactions with patients and the insured for a
significant portion of the U.S. healthcare industry. We are the
customer interface for large segments of the technology industry
and the operational and processing partner of choice for public
transportation systems around the world.
Whether it’s digital payments, claims processing, benefit
administration, automated tolling, customer care or distributed
learning – Conduent manages and modernizes these interactions to
create value for both our clients and their constituents. Learn
more at www.conduent.com.
Forward Looking StatementsThis report contains
“forward-looking statements” that involve risks and uncertainties.
These statements can be identified by the fact that they do not
relate strictly to historical or current facts, but rather are
based on current expectations, estimates, assumptions and
projections about the business process outsourcing industry and our
business and financial results. Forward-looking statements often
include words such as “anticipates,” “estimates,” “expects,”
“projects,” “intends,” “plans,” “believes” and words and terms of
similar substance in connection with discussions of future
operating or financial performance. As with any projection or
forecast, forward-looking statements are inherently susceptible to
uncertainty and changes in circumstances. Our actual results may
vary materially from those expressed or implied in our
forward-looking statements. Accordingly, undue reliance should not
be placed on any forward-looking statement made by us or on our
behalf. Important factors that could cause our actual results to
differ materially from those in our forward-looking statements
include government regulation, economic, strategic, political and
social conditions and the following factors, among others:
competitive pressures; changes in interest in outsourced business
process services; our ability to obtain adequate pricing for our
services and to improve our cost structure; the effects of any
acquisitions, joint ventures and divestitures by us; our ability to
attract and retain key employees; our ability to attract and retain
necessary technical personnel and qualified subcontractors; a
decline in revenues from or a loss or failure of significant
clients; our ability to estimate the scope of work or the costs of
performance in our contracts; the failure to comply with laws
relating to individually identifiable information and personal
health information and laws relating to processing certain
financial transactions, including payment card transactions and
debit or credit card transactions; our ability to deliver on our
contractual obligations properly and on time; our ability to renew
commercial and government contracts awarded through competitive
bidding processes; increases in the cost of telephone and data
services or significant interruptions in such services; changes in
tax and other laws and regulations; increased volatility or
decreased liquidity in the capital markets, including any
limitation on our ability to access the capital markets for debt
securities, refinance our outstanding indebtedness or obtain bank
financing on acceptable terms; the impact of terrorist acts,
hostilities, natural disasters (including extreme weather) and
pandemic viruses; changes in foreign exchange rates; our lack of an
operating history as an independent publicly traded company;
changes in U.S. GAAP or other applicable accounting policies; the
other risks and uncertainties detailed in the section titled “Risk
Factors”, the section titled “Legal Proceedings”, our financial
statements and the accompanying notes thereto, and the other
sections of our Registration Statement on Form 10, as amended, and
the section titled “Risk Factors” the section titled “Management’s
Discussion and Analysis of Financial Condition”, our financial
statements and the accompanying notes thereto, and the other
sections of our Quarterly Report on Form 10-Q for the quarter ended
September 30, 2016. We caution you that the foregoing list of
important factors may not contain all of the material factors that
are important to you. Any forward-looking statements made by us in
this current report speak only as of the date on which they are
made. We are under no obligation to, and expressly disclaim any
obligation to, update or alter our forward-looking statements,
whether as a result of new information, subsequent events or
otherwise.
Note: Xerox® and Xerox and Design® are trademarks of
Xerox in the United States and/or other countries. Conduent is a
trademark of Xerox Business Services, LLC in the United States
and/or other countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20161205005391/en/
ConduentMedia:Sean Collins,
+1-310-497-9205sean.collins2@xerox.comorInvestor:Alan Katz,
+1-908-758-1227alan.katz@xerox.com
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