We moved the first group of employees in January and transitioned the remaining 60% of our people to the new systems in June. I am delighted to confirm that we've now transitioned the business onto a single unified IT platform as planned. These partnerships demonstrate the value our technology brings in complementing the offerings of some of the largest technology companies in the world, such that together we deliver more complete solutions for customers as well as representing additional growth opportunities for the Company. Notably, the strategic partnership with Amazon Web Services and exciting new agreements with Microsoft Azure, Dell EMC and Snowflake. We've had a very positive period in terms of building collaborative partnerships with other key players in the industry.
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Free cash flow this year is being impacted materially by a number of one-time events, and I will therefore provide additional detail later in the presentation. Our cash performance in the period was in line with our expectations with free cash flow totaling $139.5 million in the first six months. This combined with a cost and efficiency actions resulted in an adjusted EBITDA of 36.4% compared to 35.7% consensus. This compares to a consensus view of approximately 7% decline. But in summary, we generated revenues of $1.4 billion in the first half, which represents a constant currency decline of 4.6% year-over-year. I will provide more detail in the coming slides. The first six months of FY '21 have been another period of solid progress as we deliver on the recovery plan we shared with you all 18 months ago. As today is Matt's first day as CFO, I will be covering both the financial and operational elements of today's call. Stephen Murdoch - Chief Executive Officer I would now like to hand over to Stephen to provide an overview of our performance in the last six months. A recording of this call and the slides will be available shortly after this call finishes. After the short presentation, we look forward to covering as many of your questions as we have time for.
For those participating by phone, the webcast and the slides can be accessed through the front page of the Investor Relations section of the Micro Focus website. The slides for the presentation will be presented as part of the webcast facility accompanying this call. In a moment, Stephen will provide a short presentation about our performance in the period. I'm joined today by Stephen Murdoch, our Chief Executive Officer and Matt Ashley, our new Chief Financial Officer. This earnings call covers the six month period to the 30th of April 2021. Good morning and good afternoon, everyone. ET Contents:īen Donnelly - Head of Investor Relations Micro Focus Intl PLC ( NYSE:MFGP) Q2 2021 Earnings Call Jul 1, 2021, 7:30 a.m.
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