WP Earnings q3 2018 Final R
WP Earnings q3 2018 Final R
November 8, 2018
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 of an offer to sell or the solicitation of
an offer to buy any securities of Worldpay, Inc. (“Worldpay” or the “Company”) or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Neither the contents of Worldpay’s
website, nor the contents of any other website accessible from hyperlinks on such websites, is incorporated herein or forms part of this document.
Forward-Looking Statements
This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts
or current conditions included in this presentation are forward-looking statements including any statements regarding guidance and statements of a general economic or industry
specific nature. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, guidance, plans, objectives,
future performance and business. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may
include words such as “anticipate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “will,” “may,” “should,” “can have,” “likely” and other words and terms of similar
meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events.
The forward-looking statements contained in this presentation are based on assumptions that we have made in light of our industry experience and our perceptions of historical
trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. As you review and consider information
presented herein, you should understand that these statements are not guarantees of future performance or results. They depend upon future events and are subject to risks,
uncertainties (many of which are beyond our control) and assumptions. Although we believe that these forward-looking statements are based on reasonable assumptions, you
should be aware that many factors could affect our actual future performance or results and cause them to differ materially from those anticipated in the forward-looking
statements. Certain of these factors and other risks are discussed in the Company's filings with the U.S. Securities and Exchange Commission (the “SEC”) and include, but are
not limited to: (i) our ability to adapt to developments and change in our industry; (ii) competition; (iii) unauthorized disclosure of data or security breaches; (iv) systems failures or
interruptions; (v) our ability to expand our market share or enter new markets; (vi) our ability to successfully integrate the businesses of our predecessor companies; (vii) our
ability to identify and complete acquisitions, joint ventures and partnerships; (viii) failure to comply with applicable requirements of Visa, MasterCard or other payment networks or
changes in those requirements; (ix) our ability to pass along fee increases; (x) termination of sponsorship or clearing services; (xi) loss of clients or referral partners; (xii)
reductions in overall consumer, business and government spending; (xiii) fraud by merchants or others; (xiv) changes in foreign currency exchange rates; (xv) a decline in the use
of credit, debit or prepaid cards; (xvi) consolidation in the banking and retail industries; (xvii) geopolitical, regulatory, tax and business risks associated with our international
operations; (xviii) the effects of governmental regulation or changes in laws; (xix) outcomes of future litigation or investigations; and (xx) our dual-listings with the NYSE and LSE.
Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, our actual results may vary in material respects from those
projected in these forward-looking statements. More information on potential factors that could affect the Company’s financial results and performance is included from time to
time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic reports filed with the
SEC, including the Company’s most recently filed Annual Report on Form 10-K and its subsequent filings with the SEC.
Any forward-looking statement made by us in this presentation speaks only as of the date of this presentation. Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of
new information, future developments or otherwise, except as may be required by law.
Pro Forma
• Building momentum toward $100 million in annualized 3Q17 $935
revenue synergies with 15 additional cross-sell wins
9% Growth
We make it easy for our clients We utilize the most advanced Our experts bring data-driven
to expand into new markets payments technology to help our insights and develop tailored
and to simplify their back-office clients increase their revenue solutions to solve our clients’
by consolidating payments and minimize their costs most complex problems
partners
Leading
Technology Company Trendy U.S. Retailer Online Travel Company
Global reach and on-the-ground Global reach and innovative Data-driven insights and
expertise supported the leading technologies helped the clothing deep vertical expertise helped
technology company’s successful retailer drive growth in Japan maximize the online-travel
launch in Brazil company’s revenues with new
tailored solutions
4% Growth
4% Growth
Guidance Assumptions
• Excludes heritage Worldpay contribution for the dates prior to the • $310-$320 million in interest expense in 2018
January 16, 2018 transaction close (i.e. Jan. 1-15, 2018)
• Effective tax rate of approximately 13%, including the new company’s
• Combined company guidance is based on an assumed exchange tax structure and the impact of Tax Reform and Jobs Act of 2017
rate of U.S. dollar/pound sterling of $1.31
• Average diluted adjusted shares outstanding of ~314 million for 4Q
• $200 million estimated run-rate cost synergies by end of third year
• Capex of approximately $350 million, equal to ~9% of total revenue
post close; ~$50 million in cost synergies during 2018
• Depreciation and amortization excluding intangibles
of $150-$160 million in 2018