BrightView Holdings Inc 2024年度报告

Dear Fellow Shareholders, As we execute on these initiatives, we expect to see sustainedoperationaland EBITDA margin improvements,alongsidean optimized capital structure. This operational excellenceprovides BrightView with the flexibility to reinvest in thebusiness, further positioning us for long-term profitability andgrowth, while also setting the stage for future acquisitions tosupplement growth. Fiscal 2024 marked a transformative year for BrightView,bothculturally and financially,positioning us for long-term, profitable growth. Central to this transformation isour commitment to operating as a unified One BrightView.This starts with prioritizing the well-being of our teammembers, who deliver exceptional service to our customers. This focus on internal alignment and customer satisfactionenables us to become the service provider of choice, whichisreflected in the significant improvement in customerretentionwe achieved in fiscal 2024-the first year ofimprovement since our IPO. We believe this positive trend,alongwith improving team member turnover trends,isstill in the early stages. Continued progress in these areas isexpected to drive sustainable growth and deliver meaningfulvalue for our shareholders. Positioned for Sustainable Profitable Growth Looking ahead, we are confident in our ability to drive bothcustomer retention and profitable growth. This confidence isrooted in our belief in the power of One BrightView, as well asour ability to leverage our scale through a variety of initiatives,including realignment of sales to operations, route density,cross-selling, fleet management, strategic capital allocation,and centralized support. This year, we also made significant progress across severalother areas, including streamlining our operating structure,aligning compensation to support profitable growth, andcontinuing our focus on centralization, scale efficiencies,and margin expansion. These strategic initiatives are laying astrong foundation for future success. We are optimistic about our prospects for fiscal 2025 andbeyond,and we are committed to achieving a secondconsecutive year of record Adjusted EBITDA. As an industryleader in a resilient, scalable business, we are well-positionedto continue leveraging our culture and scale advantages tobecome the service provider of choice, driving long-termprofitable growth. Iam proud to lead BrightView through this multi-yeartransformation, and I’m especially grateful for the increasedcommitment from our team members to put our customersat the forefront of everything we do. I am honored to lead the BrightView team into this next phaseof growth and transformation, and I deeply appreciate theongoing support of our shareholders. A Year of Transformation The success we achieved in fiscal 2024 was the result ofboth the hard work and dedication of our team members,as well as the execution of key strategic initiatives. Despitethe challenges of unwinding non-core businesses, we wereable to drive improvement in Adjusted EBITDA and AdjustedEBITDA margins. Additionally, we strengthened our balancesheet and generated significant free cash flow, enhancing ourfinancial flexibility. This positions us to reinvest in the business,reinforcing our path to sustainable profitable growth. Sincerely, Dale AsplundPresident & Chief Executive Officer Our financial and operational outlook continues to improve aswe implement key strategic actions. A key milestone was thesuccessful strategic sale of the non-core U.S. Lawns franchisebusiness in the second quarter of fiscal 2024, along withcontinued progress in winding down the unprofitable non-core aggregator business, BrightView Enterprise Solutions(BES). (Mark One)☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2024OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE TRANSITION PERIOD FROMTOCommission File Number 001-38579 BrightView Holdings, Inc.(Exact name of Registrant as specified in its Charter) 46-4190788(I.R.S. EmployerIdentification No.) Delaware( State or other jurisdiction ofincorporation or organization)980 Jolly RoadBlue Bell, Pennsylvania(Address of principal executive offices) Registrant’s telephone number, including area code: (484) 567-7204 Securities registered pursuant to Section 12(b) of the Act:Title of Each ClassTradingSymbolName of exchange on which registeredCommon Stock, Par Value $0.01 Per ShareBVNew York Stock Exchange Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☒ Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements f