Siteone Landscape Supply, Inc. · NYSE:SITE
Siteone Landscape Supply — William Blair Growth Stock Conference 2024
13 slides from Siteone Landscape Supply's conference presentation, June 2024
Slide 1: William Blair Growth Stock Conference June 2024
William Blair Growth Stock Conference June 2024
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our 2024 Adjusted EBITDA outlook and our sh
Slide 3: Company and Industry Overview
Company and Industry Overview ■ Largest and only national full product line wholesale distributor of landscape supplies ■ $25 billion highly fragmented market(1) ■ More than three times the size of next competitor and only ~17% market share(1) ■ Serving residential and commercial landscape professio
Slide 4: Track Record of Performance and Growth
Track Record of Performance and Growth Net Sales Adjusted EBITDA ($ in Millions) ($ in Millions) $3,476 $4,015 $4,301 ’16-’23 $464 ’16-’23 $415 $411 Growth Growth $2,705 $2,112 $2,358 Sales $ $260 Adj. EBITDA $ $1,862 +161% +206% $1,648 35.4% 34.7% $201 34.9% 34.7% $157 $176 33.3% GM % 11.9% 32.8% $
Slide 5: SiteOne is the Only National Full Product Line Provider in the Industry
SiteOne is the Only National Full Product Line Provider in the Industry Merchandised Four Verticals Products Landscape Irrigation & Lighting Agronomics Nursery Hardscapes Accessories Market #1 #1 #1 #1 #1 Position % of 2023 Sales 30% 22% 9% 26% 13% Key ■ Sprinklers ■ Fertilizer ■ Trees ■ Concrete pa
Slide 6: SiteOne Plays a Critical Role in the Professional Landscape Supply Value Chain
SiteOne Plays a Critical Role in the Professional Landscape Supply Value Chain Thousands of Hundreds of thousands of suppliers customers Critical Business Partner Small: ~22% of 2023 net sales ■ < $25k in annual purchases SiteOne provides: SiteOne provides: Coast-to-coast Broadest product national n
Slide 7: SiteOne is Built for Continued Growth and Margin Enhancement
SiteOne is Built for Continued Growth and Margin Enhancement Current strategy ✓ Leverage strengths of both large and local company ■ Fully exploit our scale, resources and capabilities ■ Execute local market growth strategies ■ Deliver superior value to our customers and suppliers ■ Close and integr
Slide 8: A Unique Team of Top Industry & Functional Talent
A Unique Team of Top Industry & Functional Talent Source: Company data. 8
Slide 9: Robust pipeline provides significant growth opportunity
Robust pipeline provides significant growth opportunity ✓ SiteOne is the leading industry consolidator 17% ✓ Significant sourcing advantage with 80+ leaders scouting new growth opportunities 83% ✓ Our pipeline is deep and expanding ~$25bn market(1) ✓ Experienced M&A team driving strong acquisition g
Slide 10: Current Trends
Current Trends ✓ Experiencing softening volume and persistent commodity pricing deflation since First Quarter 2024 earnings call Q1 2024* Q2 Trend* Comments General slowing across Organic Daily Sales ✓ Up 1% ✓ Down ~4-5% product categories and geographies Slower end market Volume ✓ Up 5% ✓ Down ~1%
Slide 11: SiteOne Actions
SiteOne Actions ✓ Continue to drive organic growth and gross margin initiatives to help mitigate the market headwinds ✓ Reduce SG&A to align with demand ✓ Execute Pioneer integration and turnaround plan ✓ Continue to add high-performing acquisitions ✓ Improve cash flow through strong inventory manag
Slide 12: Investment highlights
Investment highlights Uniquely Clear market leader attractive industry Compelling and Proven management sustainable team growth strategy Operational and Value-creating commercial acquisitions excellence 12
Slide 13: Non-GAAP reconciliations
Non-GAAP reconciliations Adjusted EBITDA Reconciliation ($ in millions) 2023 2022 2021 2020 2019 2018 2017 2016 Reported Net income $173.4 $245.4 $238.4 $121.3 $77.7 $73.9 $54.6 $30.6 Income tax expense 49.8 67.7 56.1 27.5 13.8 1.3 18.0 21.3 Interest expense, net 27.1 20.0 19.2 31.0 33.4 32.1 25.2 2
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