Brightview Holdings, Inc. · NYSE:BV
Brightview — CJS Securities 25th Annual New Ideas for the New Year Conference (January 2025)
18 slides from Brightview's conference presentation, Jan 14, 2025
Slide 1: BrightView Investor Presentation
NYSE: BV BrightView Investor Presentation January 2025
Slide 2: Introductory Information: Forward-Looking Statements
Introductory Information Forward-Looking Statements This presentation contains "forward- looking statements’ within the meaning of the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and
Slide 3: BrightView – much more than just mowing
BrightView – much more than just mowing MAINTENANCE Water mgmt. Mowing Gardening Mulching Snow services Tree care & irrigation Lake & pond Landscape Disaster Golf course Landscape management installation recovery Sports fields maintenance design DEVELOPMENT Design + pre- Landscape Masonry + Hardscap
Slide 4: BrightView Today
BrightView Today FY 2024 Revenue: $2.8B MAINTENANCE DEVELOPMENT ~70% ~30% ~$2.0 BILLION of revenues ~$0.8 BILLION of revenues Business Overview & Highlights Essential commercial landscaping & snow services Landscape architecture & development services • Predictable recurring revenue model • New land
Slide 5: Opportunity abounds in large & highly fragmented market
Opportunity abounds in large & highly fragmented market U.S. Commercial ~$130B Landscaping, Snow and Development Recurring Revenue ~$113B U.S. Commercial + Landscaping and Snow Scalable Business Model ~$88B + U.S. Commercial Landscaping Services Accretive M&A BrightView: ~$1.7B (Land only) = Market
Slide 6: BrightView's Evolution
BrightView’s Evolution Transforming this business…Poised for another Breakthrough Year in 2025 2018 - 2022 2023 2024 2025 & Beyond • Over-levered • CEO Change • Focus on our • Return to top-line balance sheet Employees & Land growth Customers • New Strategic • Continued focus on • Non-Accretive Part
Slide 7: Executing on our Strategic Initiatives
Executing on our Strategic Initiatives Delivering on our Commitments while transforming our business... Positioned to Continue Momentum of Profitable Growth Prioritizing our Employees Customer First Operate as One BrightView Improved communication Streamlined Ops Structure & Sales integrated into th
Slide 8: FY25 positioned for another Record Year
FY25 positioned for another Record Year Strategic Pivots & Increased Liquidity Enable Long-Term Profitable Growth & Value Creation Revenue ($Ms) Adj. EBITDA ($Ms) Free Cash Flow ($Ms) & EBITDA % 345 & Leverage Ratio 2,900 2,816 2,795 2,775 2,767 2,800 325 106 2,700 4.8 101 97 94 2,554 2,600 87 80 30
Slide 9: Path to Long-Term Profitable Growth
Path to Long-Term Profitable Growth Significant value creation opportunity by leveraging our position as #1 player in the industry and continuing to prioritize our employees and customers Improved Operating as customer One BrightView retention & cross-selling Strategic Route Capital Employer of Choi
Slide 10: Questions & Answers
QUESTIONS & ANSWERS 4Q FY2024 Earnings Presentation | 10
Slide 11: Appendix
Appendix
Slide 12: FY25 Revenue and Adjusted EBITDA Guidance
FY25 Revenue and Adjusted EBITDA Guidance Total Revenue Adjusted EBITDA $2.750B to $2.840B $335M to $355M FY2025 Assumptions Assumptions for Revenue & EBITDA Margins Assumptions Maintenance Land Revenue1 +1% to +3% excl. Non-Core Revenue Snow Revenue2 $160M - $200M Development Revenue ~+3% to +6% 12
Slide 13: FY25 Free Cash Flow Guidance
FY25 Free Cash Flow Guidance Guidance Range: Range (ex. 2024 Capex timing1): $40M to $60M ~$90M to ~$110M $101 $51 $50 FY25 FCF - MP Payment of 2024 FY25 FCF As Guided accrued equipment1 MP1 Assumptions Net Capex: $140M to $160M (includes $51M as referenced in footnote 2) Free Cash Interest: $55M to
Slide 14: Cash Flow, CapEx, and Leverage
Cash Flow, CapEx, and Leverage $MM’s 1 3 Free Cash Flow Capital Expenditures 2 Leverage Gross Net $145 $78 $71 $51 2.9x Capex1 $60 Timing $50 2.3x $94 $80 2023 2024 2023 2024 2023 2024 Free Cash Flow CapEx Spend Net Financial Debt Improved operating performance and Levels reflect timing of spend 202
Slide 15: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation *Amounts may not total due to rounding 15
Slide 16: Non-GAAP to GAAP Reconciliation (cont.)
Non-GAAP to GAAP Reconciliation (cont.) *Amounts may not total due to rounding 16
Slide 17: Non-GAAP to GAAP Reconciliation (cont.)
Non-GAAP to GAAP Reconciliation (cont.) 17
Slide 18: Investor Relations and Media Contacts
INVESTOR RELATIONS CONTACT: MEDIA CONTACT: Chris Stoczko David Freireich VP of Finance & Investor Relations VP of Communications & Public Affairs IR@BrightView.com 484.567.7244 David.Freireich@BrightView.com investor.brightview.com