Investor Presentaiton
RESILIENT BUSINESS MODEL
Great Recession
Revenue ($ in millions)
50-year
snowfall low
5-year
snowfall low
Consecutive years below 10-year
average snowfall
Revenue
Snowfall Inches
$571
$616
$600
$524
$541
$475
$480
$500
$400
$416
$400
$304
$300
$200
$140
$180 $174
$177
$209
$194
$140
$100
$0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Adjusted EBITDA¹ ($ in millions)
$120
$100
Adj. EBITDA
Snowfall Inches
$108
$88
$97
$91
$91
$96
$87
$75
$80
$80
$52
$60
$48
$45
$47
$30
$45
$33
$40
$20
$0
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Free Cash Flow² ($ in millions)
Free Cash Flow
FCF Conversion %
$80
$66
$60
$58
$60
$45
$48
$46
$48
$49
$39
$40
$29
$28
$20
$17
$20
$13
$14
$0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Source: Company filings
1: Non-GAAP metric is reconciled to nearest GAAP metric within the Company's 10-K as filed with the SEC as dated a 2/21/23
2: Free Cash Flow defined as cash from operating activities less capital expenditures and Free Cash Flow Conversion is defined as Free Cash Flow / cash from operating activities
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