Brightview Holdings, Inc. · NYSE:BV
Brightview — Baird 2025 Global Consumer, Technology & Services Conference
25 slides from Brightview's conference presentation, June 2025
Slide 1: Investor Presentation
Investor Presentation June 2025
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward- looking statements" within the meaning of the safe harbor provision of the U.S. base under our Revolving Credit Facility; any future sales, or the perception of future sales, by us or our affiliates, which Private Securities Litigation
Slide 3: BrightView Today
BrightView Today • Founded in 1939 • Headquartered: Blue Bell, PA States with BrightView Branches • Employees: ~20,000 Corporate Headquarters Maintenance Branches • Revenue: $2.8B Development Branches Shared Branches • Jobs: ~20,000 • Branch Locations: 280 Note: Branch locations include satellites B
Slide 4: BrightView – Much More Than Just Mowing
BrightView – Much More Than Just Mowing Maintenance Mowing Gardening Mulching Snow Services Tree Care Water Mgmt. & Irrigation Lake & Pond Landscape Disaster Sports Golf Course Landscape Management Installation Recovery Fields Maintenance Design Development Design & Pre- Landscape Masonry + Hardscap
Slide 5: BrightView's Early Days…
BrightView’s Early Days… Not Growing Profitability, Combined Two Limited Cash, Legacy Stuck In Place Companies to Create a National Presence Initial Public Offering Focused on Revenue Growth, but not Profitable Growth 5
Slide 6: …Led to These Financial Results
…Led to These Financial Results 380 15.0 370 14.5 Revenue ($Ms) 360 Adj. EBITDA ($Ms) 14.0 +~$420M or 350 & EBITDA % (~$12M) & +18% 340 (240bps) 13.5 2,775 330 12.8% 13.0 12.7% 320 2,554 12.5 310 305 300 302 300 12.0 2,405 2,354 290 11.8% 288 11.5 280 11.0 270 260 10.4% 10.5 250 10.0 2018 2019 2021
Slide 7: BrightView's Refreshed Focus…
BrightView’s Refreshed Focus… Increased Employee & Customer Focus, While Delivering Record EBITDA Not Growing Results Profitability, Combined Two Limited Cash, Legacy Stuck In Place Top-Line Growth Companies Fueling to Create a Transformation National Presence New Leadership, One Rock Partnership, N
Slide 8: …Positions BrightView for Long Term Profitable Growth
…Positions BrightView for Long Term Profitable Growth Prioritizing our employees and a customer-centric focus producing momentum Revenue ($Ms) Adj. EBITDA ($Ms) 380 & EBITDA % +~$55M & 15.0 +210bps 14.5 ~Flat 360 355 2,816 14.0 2,767 2,795 340 13.5 325 320 13.0 12.7% 12.5 299 300 12.0 11.7% 280 11.5
Slide 9: 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 10: 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 11: Driving Profitable Growth…
Driving Profitable Growth… Profitable Growth New Sales Development Development Ancillary National Growth Growth Conversions Offerings Accounts CUSTOMER RETENTION 11
Slide 12: …by Operating as One BrightView
…by Operating as One BrightView 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 12
Slide 13: Prioritizing Frontline Employees to the Become Employer of Choice
Prioritizing Frontline Employees to the Become Employer of Choice 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 from Reduced Turnover down
Slide 14: Customer Centric Focus to Drive Improvements in Retention
Customer Centric Focus to Drive Improvements in Retention Hyper-Focused on Taking Care of Our Customers to drive Improved Retention Improved Best-in-class Efficient / Communication service Unified Land Customer Retention Trend (TTM) Retention +170bps TTM 4Q23 2Q24 4Q24 2Q25 14
Slide 15: 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 15
Slide 16: 2030 Aspirational Targets (from February '25 Investor Day)
2030 Aspirational Targets (from February ’25 Investor Day) 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 compo
Slide 17: Appendix
Appendix 17
Slide 18: FY25 Updated Guidance (from May '25 earnings call)
FY25 Updated Guidance (from May ’25 earnings call) Raised FY25 Adjusted EBITDA, Margin & Free Cash Flow Guidance Metric Prior Guidance Updated Guidance Total Revenue $2.750B to $2.840B Unchanged Adjusted EBITDA $335M to $355M $345M to $365M Adj. EBITDA Margin +50bps to +80bps +80bps to +110bps Adj.
Slide 19: 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 20: Path to ~$4B in Revenue
Path to ~$4B in Revenue 1 Land Maintenance ~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 21: 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 21
Slide 22: 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 23: 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. 23
Slide 24: Non-GAAP to GAAP Reconciliation (cont.)
Non-GAAP to GAAP Reconciliation (cont.) 24
Slide 25: Thank you
BrightView P Inspiring People. Nurturing Landscapes. Thank you BV LISTED NYSE
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