Brightview Holdings, Inc. · NYSE:BV
Brightview — Investor Day (February 2025)
87 slides from Brightview's investor day presentation, Feb 19, 2025
Slide 1: Investor Day
Investor Day February 19, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward- looking statements" within the meaning of the safe harbor provision generate sufficient cash flow to satisfy our significant debt service obligations; the incurrence of substantially more debt, of the U.S. Private Securities Litigation
Slide 3: Dale Asplund, Chief Executive Officer
DALE ASPLUND C H I E F E XE C U T I V E O F F I C E R 3
Slide 4: Operating as One BrightView to Drive Profitable Growth
Operating as One BrightView to Drive Profitable Growth Early in the Journey of Transforming BECOMING CUSTOMER UNLOCKING STRATEGIC INVESTMENT BrightView THE CENTRIC SIZE AND CAPITAL OF CHOICE EMPLOYER FOCUS SCALE ALLOCATION OF CHOICE 4
Slide 5: Today's Agenda
Today’s Agenda 1:00PM Welcome & Opening Remarks 2:20PM Operating as One BrightView DAN WHALEN – Investor Relations RODNEY HICKS – Senior Branch Manager Operating as One BrightView to Drive Unlocking Our Size and Scale Profitable Growth CHRIS STOCZKO – Finance, Investor DALE ASPLUND – Chief Executive
Slide 6: Opportunity Abounds in Large & Highly Fragmented Market
Opportunity Abounds in Large & Highly Fragmented Market U.S. Market Structure BrightView 2024 Revenue: $2.8B ~$130B U.S. Commercial Landscaping, Snow and Development Development ~$113B U.S. Commercial Landscaping and Snow ~30% ~70% Maintenance U.S. Commercial ~$88B Landscaping Services BrightView: ~
Slide 7: FY2024 Maintenance Services Revenue by End Market
FY2024 Maintenance Services Revenue by End Market Education Other Hotels & Resorts 3% 3% 4% Retail 5% 5% Hospitals 39% Homeowners Association 7% Public Places/Golf Corporate/Office Parks 34% Average Annual Land Maintenance Contract ~$60k 7
Slide 8: BrightView – Much More Than Just Mowing
BrightView – Much More Than Just Mowing Maintenance Mowing Gardening Mulching Snow Services Tree Care Water Mgmt. & Irrigation Lake & Pond Landscape Disaster Sports Golf Course Landscape Management Installation Recovery Fields Maintenance Design Development Design & Pre- Landscape Masonry + Hardscap
Slide 9: BrightView's Early Days…
BrightView’s Early Days… Not Growing Profitability, Combined Two Limited Cash, Legacy Stuck In Place Companies to Create a National Presence Initial Public Offering Focused on Revenue Growth, but not Profitable Growth 9
Slide 10: …Led to These Financial Results
…Led to These Financial Results 380 15.0 370 14.5 Revenue ($Ms) 360 Adj. EBITDA ($Ms) 14.0 +~$420M or 350 & EBITDA % (~$12M) & +18% 340 (240bps) 13.5 2,775 330 12.8% 13.0 12.7% 320 2,554 12.5 310 305 300 302 300 12.0 2,405 2,354 290 11.8% 288 11.5 280 11.0 270 260 10.4% 10.5 250 10.0 2018 2019 2021
Slide 11: BrightView's Refreshed Focus…
BrightView’s Refreshed Focus… Increased Employee & Customer Focus, While Delivering Record EBITDA Not Growing Results Profitability, Combined Two Limited Cash, Legacy Stuck In Place Top-Line Growth Companies Fueling to Create a Transformation National Presence New Leadership, One Rock Partnership, N
Slide 12: …Positions BrightView for Long Term Profitable Growth
…Positions BrightView for Long Term Profitable Growth Prioritizing our employees and a customer-centric focus producing momentum Revenue ($Ms) Adj. EBITDA ($Ms) 380 & EBITDA % 15.0 +~$45M & 14.5 ~Flat 360 +170bps 2,816 345 14.0 2,767 2,795 340 13.5 325 320 13.0 12.5 299 12.3% 300 12.0 11.7% 280 11.5
Slide 13: BrightView Today
BrightView Today • Founded in 1939 • Headquartered: Blue Bell, PA States with BrightView Branches • Employees: ~20,000 Corporate Headquarters Maintenance Branches • Revenue: $2.8B Development Branches Shared Branches • Jobs: ~20,000 • Branch Locations: 280 Note: Branch locations include satellites B
Slide 14: Leadership
Leadership Inspiring & Unifying ~20,000 Employees to Operate as One BrightView DALE ASPLUND BRETT URBAN MANDY ORDERS MICHAEL DOZIER JONATHAN GOTTSEGEN Chief Executive Officer Chief Financial Officer Chief Human Chief Commercial Officer Chief Legal Officer & Resources Officer Corporate Secretary Sale
Slide 15: 2024 Started the Journey to Becoming One BrightView
2024 Started the Journey to Becoming One BrightView Sales Reps Consolidated Reporting Divested Golf & Tree Into US Lawns New Sales to Branch Maintenance Commission Branches Program New Profit-Sharing Unwound Streamlined Plan Rewarding Aggregator Realigned Operating Profitable Growth Business (BES) B
Slide 16: Bringing Leaders Together to Strengthen BrightView
Bringing Leaders Together to Strengthen BrightView One BrightView: Better Together • First leadership meeting since 2018 • One BrightView, collaboration, and collective success • Key areas of focus: leadership, growth and operations 16
Slide 17: One BrightView – Action Statement
One BrightView – Action Statement Embracing a culture of collaboration and intense customer focus positions us to win together, grow together, and succeed together... as One BrightView. We will prioritize safety and support our team with the best training and tools to enable consistent, high-level p
Slide 18: Key Investment Highlights
Key Investment Highlights KEY INVESTMENT HIGHLIGHTS Unifying BrightView Market leader with size, scale and strategy to compound competitive advantages Prioritizing our employees to become employer and service provider of choice Sustainable business model with recurring revenue and intense customer f
Slide 19: Mandy Orders, Chief Human Resources Officer
MANDY ORDERS CHIEF HUMAN RESOURCES OFFICER 19
Slide 20: Journey to Becoming the Employer of Choice
Journey to Becoming the Employer of Choice Incentivizing Driving a Profitable Safety-first Growth Culture Embracing Investments in the One Our Frontline & BrightView Technology Culture Enablement 20
Slide 21: Driving a Safety-First Culture
Driving a Safety-First Culture Significant Strides in Employee Safety…and More Opportunity Ahead Total Recordable Incident Rate (TRIR) 2.5 Less than half the industry average of ~3.0* Safety boots 2.0 New hire orange vest program 1.5 1.0 In-cab cameras 0.5 Enhanced training programs 0.0 2018 2019 20
Slide 22: Our People are Our Differentiator
Our People are Our Differentiator Building a Strong, Dedicated & Unified One BrightView Reduced Seasonal ~20,000 Total Hiring Needs Due Employees to Improvement in Frontline Turnover Tenured Frontline Competitive Wages Crew Leader: ~8 Yrs. with Reliable Work Crew: ~4 Yrs. Schedules BrightView is the
Slide 23: Engagement Drives World-Class Service
Engagement Drives World-Class Service 78% Overall Happiness in Hourly Employees +20% Increase in Happiness from 2022 survey Scored 8.5 out of 10 on key areas of employee engagement survey* Survey Question: What makes your workplace amazing? Our People Tell Us They Feel Empowered, Safe, a Sense We no
Slide 24: Prioritizing Our Frontline Employees
Prioritizing Our Frontline Employees Investments in Our Frontline Employees Have Yielded Significant Momentum in Turnover Affordable Trucks Mowers PTO Benefits Service Flexible Boots HRIS* Hours Schedules Frontline Turnover Trend (TTM) Savings Turnover down ~20% from Reduced Turnover over 5 quarters
Slide 25: Increased Management of Our Most Important Asset Through Technology
Increased Management of Our Most Important Asset Through Technology HRIS* implementation will streamline processes, drive efficiencies and increase total reward transparency to our biggest asset…Our People Multiple Systems with Little to Streamlined System That Incorporates FROM THIS No Integration
Slide 26: Incentivizing Profitable Growth
Incentivizing Profitable Growth Revamped Sales Commission & Branch Profit Sharing Plan Reward Profitable Growth Sales Commissions Branch Bonuses • Multiple Plans 78% • Quota Based • Retro Payouts 53% • No Incentives on Retention of Customer 47% 22% • One Plan • Flat Rate Incentive Old “Budget New “P
Slide 27: Employee Turnover Remains Key Catalyst to Drive Customer Retention
Employee Turnover Remains Key Catalyst to Drive Customer Retention Customer Retention % by Turnover Quartile ~600bps Difference 140 85 120 84% 100 80 80 60 78% 75 40 20 0 70 4th Quartile 3rd Quartile 2nd Quartile 1st Quartile Customer Retention Frontline Turnover* *Excludes involuntary turnover 27
Slide 28: How We'll Win: Becoming the Employer of Choice
How We’ll Win: Becoming the Employer of Choice Prioritizing our Employees to Become the EMPLOYER OF CHOICE Being a world-class, safety-first organization Engaging our employees and listening to so our most important assets go home safe feedback to continue to build a stronger One everyday BrightView
Slide 29: Michael Dozier, Chief Commercial Officer
MICHAEL DOZIER CHIEF COMMERCIAL OFFICER 29
Slide 30: Putting the Customer at the Center of what we do
Putting the Customer at the Center of what we do Scale and Go-to-Market Technology Strategy Advantages Capturing Revenue Share of Wallet Growth Drivers 30
Slide 31: A Go-to-Market Strategy Designed to Deliver
A Go-to-Market Strategy Designed to Deliver Legacy Sales Strategy Current Sales Strategy Reporting Sales and Ops siloed Sales and Ops aligned Structure Sub-optimal alignment Selling Focused on profitable Incentives growth/retention Less technology-based Tools Route Density / BV Connect Environmental
Slide 32: Driving Profitable Growth
Driving Profitable Growth Profitable Growth New Sales Development Development Ancillary National Growth Growth Conversions Offerings Accounts CUSTOMER RETENTION 32
Slide 33: Opportunities Abound within Customer Retention
Opportunities Abound within Customer Retention 90%+ ~85% ~84% ~83% ~83% ~81% ~80% ~79% First Year of Improvement Since IPO 2018 2019 2020 2021 2022 2023 2024 BV Best in-Class Drivers of Success Quality of Service Communication Leverage AI for Prioritizing our employees so Proactively responding to c
Slide 34: Retention Accelerates Profitable Top-Line Growth
Retention Accelerates Profitable Top-Line Growth Customer Retention is the Primary Catalyst That Fuels Profitable Top-line Growth Branch Segmentation* Branches with Higher Retention Have Higher Contract Growth ~+9% ~20% ~20% ~+6% ~20% ~(4%) ~40% ~(8%) < 70% 70% - 80% 80% - 90% 90+% *Based on 2024 re
Slide 35: Leveraging Technology to Provide Unparalleled Customer Communication
Leveraging Technology to Provide Unparalleled Customer Communication Our Proprietary Customer Portal is Our Competitive Differentiator in Our Largest Vertical Homeowners Association Corporate/ Office Parks Public Places/ Golf Education Hotels & BrightView Connect is a custom-built, ~1,400 17,000+ Re
Slide 36: Equipping Our Sellers with Tools to Drive Route Density
Equipping Our Sellers with Tools to Drive Route Density Route Density Tool Enables Teams to Target New Customers Along Existing Routes = Profitable Growth Branch Existing Customer Vetted Target Unvetted Target 36
Slide 37: Development Business as a Catalyst for Growth
Development Business as a Catalyst for Growth Development Business Leads Growth Charge; Remains Stable Foundation for Future Maintenance Growth Development Services Snapshot Development Backlog Revenue #1 Nationwide Landscape/Irrigation Installation Provider ($MS) ($MS) 30 Branches 1,000+ Active Job
Slide 38: Key Untapped Opportunity in Development Conversions
Key Untapped Opportunity in Development Conversions Opportunity Notable Wins CUSTOMER A CUSTOMER B $1 Development Job Development Job ~$4M ~$1.6M ~$.07 Recurring Contract Maintenance Annual Maintenance $250K $200K 70% Conversion Rate implies ~$50M Future Opportunity in Annual Maintenance Revenue ~70
Slide 39: Sports Fields & Golf Course Opportunity
Sports Fields & Golf Course Opportunity Current State Official field Specialized consultant vertical in for MLB Golf Course Maintenance ~$3B Sports Fields & Golf Courses (Maintenance & Development) BrightView: ~$100M Market Share: ~3% 39
Slide 40: Positioned to Be a One-Stop Shop for All Customer Types
Positioned to Be a One-Stop Shop for All Customer Types Our Expertise is Our Competitive Advantage – Our Size & Scale Enables Us to Offer a Full Suite of Services Mowing Gardening Mulching Snow Services Tree Care Water Mgmt. & Irrigation Lake & Pond Landscape Disaster Sports Fields & Golf Course Man
Slide 41: A Snow Strategy Designed to Deliver Reliable Growth
A Snow Strategy Designed to Deliver Reliable Growth Shift to More Predictable Revenue with a Focus on Land Attachment Revenue Mix Customer Portfolio Shift to Predictable Revenue Streams & Customer Demand Favors Land & Snow Services Share in the Upside Snow Only ~10% 1/3 2/3 2/3 1/3 ~90% IPO Current
Slide 42: Capturing Share of Wallet
Capturing Share of Wallet Higher Retention = Better Relationships = Better Share of Wallet Average Ancillary Penetration* % by Customer Tenure ~62% ~55% ~40% ~25% < 1 Year 1 - 3 Years 3 - 5 Years 5+ Years Moving Each Customer Up One Tranche Represents ~$75M in Annual Revenue *Average Ancillary Penet
Slide 43: Tree Expansion Opportunity
Tree Expansion Opportunity California’s tree business ~$15M ~$35M ~$50M accounts for ~10% of total maintenance revenue in the state $100M+ Opportunity across the rest of our markets Powered by Bing Tree Penetration © GeoNames, Microsoft, TomTom 0% 10% 43
Slide 44: National Accounts: A Significant Strategic Growth Opportunity
National Accounts: A Significant Strategic Growth Opportunity Tech Enablement Measure Progress Single Point of Contact Key Accounts Aligned Partnership Targeted Accounts Leveraging our Self-Perform National Branch Network 44
Slide 45: Case Study: Current National Customer
Case Study: Current National Customer 18 Months Ago Current Future ~15% ~20% ~90% Inconsistent communication and Consistent scheduled communication; Partnering with customer to startup process enhanced startup process increase share of wallet Customer Total Landscaping Spend: ~$75M 45
Slide 46: Long-Term Growth Opportunity: ~3%–6%+
How We’ll Win Moving Forward: Growing Profitably 1 Improved Retention Customer Intense customer focus and proactive service delivery to reduce turnover New Maintenance 2 Sales Invest in sellers and give them meaningful tools to sell profitable land business 3 New Sales Development Continue to build
Slide 47: Operating as One BrightView to Drive Profitable Growth
Operating as One BrightView to Drive Profitable Growth Early in the Journey of Transforming BECOMING CUSTOMER UNLOCKING STRATEGIC INVESTMENT BrightView THE CENTRIC SIZE AND CAPITAL OF CHOICE EMPLOYER FOCUS SCALE ALLOCATION OF CHOICE 47
Slide 48: Rodney Hicks, Senior Branch Manager
RODNEY HICKS SENIOR BRANCH MANAGER 48
Slide 49: One BrightView in Action
One BrightView in Action A More Branch Efficient Day Overview – in the Life A Day in the Life Total Addressable Benefits of Market & Route Refreshed Density Fleet 49
Slide 50: Branch Overview
Branch Overview Jacksonville, FL A Day in the Life 1 Stretch and Flex 4 Services team (labor Revenue: $30M routing) 2 Fleet dispatch – safety checks 5 Customer site visits Clients: ~185 3 Leadership huddle 6 End of day check-in Employees: Seasonal Peak ~180 Trucks: ~80 Mowers: ~125 50
Slide 51: Benefits of Refreshed Fleet Increased Investment
Benefits of Refreshed Fleet Increased Investment Fleet and Equipment Upgrades Customer Feedback Trucks • Received 15 new trucks in FY2024 and 12 more The old trucks you previously brought onsite are scheduled to be delivered this year didn’t match what our hotel stands for. Average Age of Trucks: –
Slide 52: Total Addressable Market (TAM) / Route Density
Total Addressable Market (TAM) / Route Density Branch Territory – Route Density View More Automation = More Customer Facing Time Share of ~$60k Wallet for Customer Existing Branch Customer1 Existing Customer Vetted Opportunity to Target ~$65k Capture More Unvetted Customer Share of Target Wallet 1.
Slide 53: One BrightView is Driving a More Efficient Workday
One BrightView is Driving a More Efficient Workday Unified Approach • Silos broken down 1 • Collaboration between branches • Sales / operational alignment Refocus on the Employees • Safety first 2 • Reliable work hours • Flexible schedules • New profit-sharing system Evolving Technology • Field Serv
Slide 54: Chris Stoczko, Finance, Investor Relations & M&A
CHRIS STOCZKO FINANCE, INVESTOR RELATIONS & M&A 54
Slide 55: Unlocking Our Size & Scale
Unlocking Our Size & Scale Fleet Efficiencies in Management Front Line Strategy Labor Management Unlocking Centralized Purchasing Support Model Power & Technology Enablement 55
Slide 56: BrightView Spend Composition: ~$2.6 Billion
BrightView Spend Composition Fleet ~10% ~$2.6 Billion* Frontline in annualized spend… SG&A ~20% ~ 40% Labor significant untapped opportunities to drive efficiencies and expand margins ~ 30% Materials & Commodities * ~$2.5B Operating Costs (excludes EBITDA Add-backs) and ~$100M Net CapEx 56
Slide 57: Driving Efficiencies in Frontline Labor Management
Driving Efficiencies in Frontline Labor Management Proactive Communication & Improved Service Levels = Customer Retention & Margin Gains Current Manual Approach Future Tech-Driven Approach Opportunity Efficiencies on ~20K+ Jobs Routing/ Density Proactive & Improved Real-time with Customer Crews & Re
Slide 58: Centralizing Key Support Functions
Centralizing Key Support Functions Significant Strides in Breaking Down Silos & Centralizing Key Functions… FROM THIS TO THIS Field Operating Structure Streamlined Central Support Model Safety Sales to Drive Consistency & Efficiencies Region Support Market Support IT Support Fleet HR Accounting Cent
Slide 59: Driving Efficiencies Through Technology
Driving Efficiencies Through Technology Strategic Investments in Technology Will Enable Reinvestment Into Revenue Generating Roles and Improve Operating Leverage FROM THIS TO THIS ~20% ~65% ~35% ~80% Technology Enablers Selling General & Administrative 59
Slide 60: Unlocking Our Purchasing Power
Unlocking Our Purchasing Power Refining Our Strategic Vendor Network & Driving Better Utilization to Unlock Purchasing Power and Gain Margin Efficiencies Legacy Buying Habits Future Buying Strategy ILLUSTRATIVE CASE STUDY Per Unit Job Material ~20K+ Vendors; <1% Preferred ~1K Vendors; Primarily Pref
Slide 61: Fleet Management Strategy
Fleet Management Strategy Execution of Our Fleet Management Strategy will Drive Employee Satisfaction, Improved Customer Retention & Enhanced Brand Reputation Average Age (Years) 2023 2025E 2026E ~9 ~6 ~5 Average Age (Years) Optimal Time to 2023 2025 Dispose of an Asset ~3 ~1 Average Age (Years) 202
Slide 62: Unlocking Size & Scale Through Larger & More Profitable Branches
Unlocking Size & Scale Through Larger & More Profitable Branches Bigger Branches = More Profitable Branches 16% 14% 12% 11% Best In-class Branches at $17 ~20%+ $11 Margin $8 $5 1st Quartile 2nd Quartile 3rd Quartile 4th Quartile Average Maintenance Branch Revenue EBITDA Margin % SG&A % Note: in Mill
Slide 63: How We'll Win: Leveraging Our Size and Scale
How We’ll Win: Leveraging Our Size and Scale 2030 Unlocking Our Size and Scale = Margin Expansion Aspirational Target* Efficiencies in Frontline Labor Unlocking our Purchasing Power to Management drives a better customer Leverage Size & Scale experience & higher customer retention ~$100M or ~200bps
Slide 64: Brett Urban, Chief Financial Officer
BRETT URBAN CHIEF FINANCIAL OFFICER 64
Slide 65: Capital Allocation and Long-Term Value Creation
Capital Allocation and Long-Term Value Creation Maximize Core Business Shareholder Foundation Return (Fleet & Technology) Accretive Revenue Mergers & Growth Acquisitions Acceleration 65
Slide 66: Fortified Balance Sheet
Fortified Balance Sheet Robust Adjusted Free Cash Flow Coupled with Lower Debt and Leverage Provides Significant Opportunity for Additional Value Creation Adjusted Free Cash Flow Net Debt / Leverage Ratio 1,500 5.5 4.8x 5.0 3.8x 3.7x 4.5 3.5x 4.0 1,000 3.5 2.9x 2.3x 3.0 $145 $1,375 2.5 $106 $1,149 $
Slide 67: Favorable Debt Structure & Ample Liquidity
Favorable Debt Structure & Ample Liquidity $738M $625M No Long-Term Maturities Until 2029 $300M Unused Revolver Liquidity of $550M1 Facility Term Loan B Average Cost of Capital: ~6%2 $256M Unused A/R Facility Fixed vs Floating Debt Ratio ~75%/25% $69M Used A/R Facility 2024 2025 2026 2027 2028 2029
Slide 68: Core Business Foundation: Fleet Refresh Strategy
Core Business Foundation: Fleet Refresh Strategy Strategic Capital Allocation to Improve Asset Lifecycle and Residual Value Gross CapEx % & Residual % 6.3% Gross CapEx 5.5% 5.9% 6.1% 5.1% 5.2% 2.8% (0.7%) 2024 (0.7%) 2025 2026 2027 2028 2029 2030 (1.6%) (1.7%) (2.4%) (2.6%) (2.8%) Residual % Net Cap
Slide 69: Core Business Foundation: Technology
Core Business Foundation: Technology Investments in Key Areas to Drive Growth, Efficiencies, & Unlock Size & Scale Advantages 69
Slide 70: Revenue Growth Acceleration: Sales Force Investments
Revenue Growth Acceleration: Sales Force Investments Rebalance SG&A: Investment in Sales Force, offset by leverage in G&A SG&A % of Revenue 19.9% 19.3% ~65% 2030 ~35% 18.9% Target* ~50% 17.9% ~50% ~16.0% - 16.5% 2021 2022 2023 2024 2030 Selling General & Administrative *2024 SG&A: ~80% G&A / ~20% Se
Slide 71: Core Growth Acceleration
Core Growth Acceleration Robust Cash & Liquidity Provides Significant Opportunity for Additional Value Creation Greenfield Opportunities Market Expansion Opportunities 71
Slide 72: Shift in M&A Approach to Drive Accretive Deals
Shift in M&A Approach to Drive Accretive Deals Near-Term Strategic Focus Areas Service-Line Density Adjacent Services Market Expansion Market Density Markets BV operates, Complimentary services Markets where BV Markets where BV is but outsources to core business is not present well established core
Slide 73: This is the Winning Formula…
This is the Winning Formula… Employee Customer Adjusted Turnover = Retention FCF Generation, Strategic Customer Growing Capital Retention = Branches Allocations, Long-Term Shareholder More Bigger Value Branches = Profitable Branches 73
Slide 74: Path to ~$4B in Revenue
Path to ~$4B in Revenue 1 Maintenance Land ~3% to ~6% Growth per Annum (Retention, Route Density, Cross Selling, Ancillary Offerings) 2 Development ~4% to ~5% Growth per Annum (Continued momentum in backlog) 3 Accretive M&A ~$400M to ~$500M in Accretive Mergers & Acquisitions 6.3% CAGR 4.2% CAGR ~$4
Slide 75: Land Maintenance Growth Trajectory
Land Maintenance Growth Trajectory 4.6% CAGR 5-7% 2,283 3-6% Revenue Growth Drivers 1-3% 1,743 FY24 FY25/ FY27/ FY29/ FY30 (As Reported) FY26 FY28 FY30 Land Maintenance Revenue acceleration underpinned by profitable growth initiatives 75
Slide 76: Path to 16%+ EBITDA Margins
Path to 16%+ EBITDA Margins 1 Top-Line Growth ~20%+ Flowthrough on Top-Line Growth Drivers 2 Efficiencies +~250bps margin expansion driven by FSM*, procurement, fleet & SG&A leverage 3 Accretive M&A Flowthrough on ~$450M of Accretive Mergers & Acquisitions 12.3% CAGR 10.3% CAGR ~$100 FSM, ~$650 Flee
Slide 77: BrightView is the Investment of Choice
BrightView is the Investment of Choice Execution of Growth & Margin Initiatives Drives 350 50 1,400 Significant Cash & Lower Leverage 4 Adjusted Free Cash Flow / Conversion% 300 Leverage Ratio** 45 1,200 ~40%+ 3 250 40 1,000 2.3x 200 35 800 2 150 100 25% 30 600 ~1.2x – 1 50 25 400 1.5x 0 20 200 0 3-
Slide 78: Dale Asplund, Chief Executive Officer
DALE ASPLUND C H I E F E XE C U T I V E O F F I C E R 78
Slide 79: Operating as One BrightView to Drive Profitable Growth
Operating as One BrightView to Drive Profitable Growth Early in the Journey of Transforming BECOMING CUSTOMER UNLOCKING STRATEGIC INVESTMENT BrightView THE CENTRIC SIZE AND CAPITAL OF CHOICE EMPLOYER FOCUS SCALE ALLOCATION OF CHOICE 79
Slide 80: 2030 Aspirational Targets
2030 Aspirational Targets Clear path to KEY INVESTMENT HIGHLIGHTS achieve long-term ~$4B*+ ~$650M+ Market leader with size, Prioritizing our employees targets and drive Total Revenue Adjusted EBITDA scale and strategy to to become employer and shareholder value compound competitive service provide o
Slide 81: Speaker Bios
Speaker Bios 81
Slide 82: Speaker Bios
Speaker Bios Dale Asplund was appointed Brett Urban was appointed Chief Executive Officer of BrightView Chief Financial Officer in October in October 2023. A respected and 2022. Mr. Urban provides overall successful business executive, leadership for BrightView’s finance, Mr. Asplund brings more tha
Slide 83: Speaker Bios (continued)
Speaker Bios (continued) Chris Stoczko has served as VP, Finance Rodney Hicks has served as Senior since May 2021 & has been with Branch Manager since October 2023 BrightView for 5+ years. Mr. Stoczko and has been with BrightView for 17 provides leadership in Finance, Investor years. Previously, he
Slide 84: Appendix
Appendix 84
Slide 85: Non-GAAP to GAAP Reconciliation
Non-GAAP to GAAP Reconciliation Refer to the appropriate Form 10-Ks filed with the SEC for additional details regarding the adjustments to reconcile net income to EBITDA. 85
Slide 86: Non-GAAP to GAAP Reconciliation (cont.)
Non-GAAP to GAAP Reconciliation (cont.) 86
Slide 87: Thank you
BrightView P Inspiring People. Nurturing Landscapes. Thank you BV LISTED NYSE