Dun & Bradstreet Holdings, Inc.

Q4 2020 Earnings Conference Call


spk_2: morning. My name is Khan, and I will be your conference of protection at this time. I would like to welcome everyone to learn and Bradstreet's fourth quarter and year 2020 conference All lines have been placed formula to prevent any background. Most after the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press style, followed by the number one on your telephone keypad. If you would like to redraw your question, press the fountain. Thank you with that. I would not like to turn the call over to Beth McCann,
spk_1: treasurer and
spk_2: senior vice president of Investor Populations and corporate SP, and you You may proceed.
spk_1: Thank you. Good morning, everyone and thank you for joining us for Denim Bradstreet Financial results Conference call for the fourth quarter and full year ending December 31st 2020. On the call Today we have done in Bradstreet CEO Anthony Huber and CFO Brian Hampshire. Before we begin, allow me to provide a disclaimer regarding forward looking statements. This call, including the Q and a portion of the call, may include forward looking statements related to the expected future results for our company and are therefore forward looking. Statements are actual results may differ materially from our projections due to a number of risks and uncertainties, the risks and uncertainties that forward looking statements are subject to are described in our earnings relief and other SEC filings. Today's remarks will also include references to non GAAP financial measures, additional information, including reconciliation between non gap financial information to the gap. Financial information is provided in the press release and supplement a slide presentation. This conference call will be available for replays via Webcast through Dun and Bradstreet investor relations website at investor dot dnb dot com. With that, I'll now turn the call over to Anthony.
spk_0: Thank you, Deb. Good morning, everyone, and thank you for joining us for 1/4 quarter earnings call. I would like to take some time today to discuss highlights from 2020 and our plans for 2021 2020 was an incredible year for Dun and Bradstreet in the midst of a challenging new environment. Were able to successfully complete our IPO, signed a definitive agreement to acquire biz node and continue to transform our business with significant enhancements to our technology, data and analytics, which are ultimately laying the foundation for ability to execute on our near and long term growth strategies. Returning to the public markets last July was a major milestone for our company and allowed us to raise approximately $2.4 billion. The net proceeds allowed us to pay down our entire preferred equity, and 40% of both are secured and unsecured notes. This significantly improved our financial profile and is saving us more than $175 million of annual dividends and interest expense. With our lower leverage and increase cash flow, we now have significantly more financial flexibility to accelerate our growth strategy both organically and in organically. For example, we're able to execute a critical step in our international growth strategy. The acquisition of Dun and Bradstreet Worldwide network member Biz Node, which was signed in October 2020 and closed on January 8 2021. The acquisition of business significantly expands our footprint traditional territories that make up 40% of the GDP of Europe and are home to 50 of the global 500 companies. The combined business, with nearly 250,000 clients collectively will now be able to provide mission critical solutions to an expanded European footprint with more local data, more local knowledge and more streamlined delivery channels. As a global company, having local expertise and knowledge helps us to engage with clients of all sizes in the region and across the globe to provide solutions and support necessary to meet the increasing demand as we have now been operating the business for around a month, we're even more excited about the opportunity. The business came with a combination of Dun and Bradstreet products, along with some legacy despaired solutions. We will son down the legacy solutions and invest in the development of our market, leading global platforms and localized solutions. We also have identified approximately $40 million in annualized run rate savings that we expect to have action by the end of 2022. Brian will provide incremental financial details, including our expectations for 2021 in his section. But overall we already have strong momentum underway and look forward to updating you on our progress in the coming quarters. Now turning back to the fourth quarter and full year 2020 we delivered solid financial results in both the fourth quarter and full year 2020 despite known headwinds and a challenging macro environment.

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