Owens&Minor Investor Conference Presentation Deck
5 Strong Cash Flow Profile Provides Ability to Significantly Reduce Debt
Financial Strength Drivers
17
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Eliminated $700M+ of debt since Q2 2018
Improved Credit Rating from CCC+ as of December
2018 to BB- as of February 2022
After Apria acquisition, leverage ratio will be ~4x
Will use same disciplined approach to
reducing leverage
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Expecting to return to target leverage range of
2x-3x within 24 months
Given our strong free cash flow profile, will be
able to reduce debt while continuing to make
appropriate investments in the business
Debt and Leverage Profile*
$ in millions
Net Debt¹
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
$0
2016
2017
2018
2019
2020
2021
8 x
7x
6x N
5x
4 x
3 x
2x
1 x
Ox
Leverage Ratio²
*This financial information is presented on a total company basis, including continuing and discontinued operations, and is intended to reflect the most appropriate comparability of relevant metrics.
¹Reconciliations for Non-GAAP measures, including Net Debt and Total Company Adjusted EBITDA, are presented in the appendix.
²Leverage ratio = Net Debt/Adjusted EBITDA
Owens
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