Cyxtera SPAC Presentation Deck
2020 Performance:
Shifting into Growth
Strong results across the board in 2020-overdelivered relative to targets
2020 Core Bookings up -39% vs. 2019 (~5% budget beat)
2020 Core Churn decreased -24% vs. 2019 (~5% budget beat)
2020 Revenue increased -2% vs. 2019 (-3% budget beat)
2020 Reported EBITDA4 improved by -54% vs. 2019 (-7% budget beat), while Adj. EBITDA4 rose -12%
year-over-year (~10% budget beat)
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Fully executed Phase I and Phase II cost initiatives, realizing ~$51MM in
annualized savings
Incremental efficiency opportunities identified and anticipated to improve margins over time
Significant improvement of our Go-to-Market strategy and execution
Sales force reorganization proven effective with four consecutive quarters of strong Bookings and Churn
performance
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2H20 supported by promising results from new Channel Program, which was launched in July 2020
Strong momentum in differentiated digital exchange and Bare Metal offerings
"Catch up" maintenance CapEx completed in 2019 and has started to approach normal
industry levels
Expansion Capex down from prior year as major expansion projects were completed in
2019 and focus turned to selling new capacity
Cyxtera
(1) Earnings before Interest, Taxes, Depreciation, Amortization, and Rent.
(2) Presented on a committed basis.
(3) Includes Corporate CapEx.
(4) See slide 63 for a reconciliation of Reported EBITDA, Adjusted EBITDA and Adjusted EBITDAR to Net Income (Loss).
($ in Millions)
Recurring Revenue
Non-Recurring Revenue
Total Revenue
Cost of Revenue
As a % of Revenue
Gross Profit
% Margin
Total SG&A
As a % of Revenue
Reported EBITDA (4)
% Margin
Adjustments
Adjusted EBITDA (4)
% Margin
Rent (net of adjustments)
Adjusted EBITDAR (1)(4)
% Margin
Maintenance CapEx (2) (3)
As a % of Revenue
Expansion CapEx (²)
2020
$657.4
33.1
$690.5
$390.5
56.6%
$300.0
43.4%
$115.5
16.7%
$184.5
26.7%
$31.0
$215.6
31.2%
$72.0
$287.6
41.6%
$21.1
3.1%
$33.6
2019
$648.6
30.0
$678.6
$405.8
59.8%
$272.8
40.2%
$152.6
22.5%
$120.2
17.7%
$73.0
$193.2
28.5%
$77.0
$270.2
39.8%
$48.4
7.1%
$99.5
YOY Change
1.4%
10.3%
1.7%
(3.8%)
(324 bps)
10.0%
324 bps
(24.4%)
(577 bps)
53.5%
901 bps
11.6%
275 bps
6.4%
183 bps
(408 bps)
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