To the shareholders of DXC Technology,
I hope you and your families are doing well.
I’d like to thank our DXC customers and colleagues for the trust they have placed in us. As we continue on our transformation journey, we’re proud of the performance the company has delivered.
I am pleased with what we accomplished in fiscal year 2022. Both quantitatively and qualitatively, it is clear that DXC is now in a dramatically better place.
- We narrowed the total organic revenue decline by 620 basis points.
- Our growth strategy has two parts: consistently grow Global Business Services (GBS) and shrink the negative declines in Global Infrastructure Services (GIS). We have achieved the first part of our strategy by growing GBS in every quarter in fiscal year 2022. While we did shrink the organic revenue declines in GIS, we have initiatives and programs in place to ensure we continue to improve in FY23.
- Our adjusted EBIT margin increased 230 basis points, and our non-GAAP diluted EPS was up 44%.
- The highlight of the year was our free cash flow performance. We delivered a $1.4 billion improvement in free cash flow compared to fiscal year 2021. Our free cash flow reached $743 million.
Fiscal year 2022 financial performance is a clear indication that we have built a team that can execute.