Boyd Group Revenue Growth and Market Analysis
Outlook
Boyd has taken specific actions to address the sales and margin challenges, including:
• Investing in and doubling our Technician Development Program, from approximately 200
.
apprentices at the beginning of 2022 to 400 apprentices
• Increasing recruitment support staff to improve lead generation and follow-up
Proactively evaluating compensation levels and making appropriate adjustments to ensure we
remain competitive in the rapidly changing environment
Improving on-boarding and orientation programs to increase retention
Implementing the WOW Operating Way Finance, Human Resources and Procurement systems
and leveraging these processes
Continuing to negotiate and receive price increases, which are necessary in order to support the
attraction of talent to the industry and the retention of the current talent pool. Boyd continues to
make progress, but further pricing increases are needed to address ongoing wage pressure.
Boyd believes the part availability and margin challenges related to supply chain disruption is transitory
and will normalize as manufacturing and distribution issues are resolved
Boyd remains confident in the business model and the Company's plan to double the size of the
business on a constant currency basis from 2021 to 2025 against 2019 sales
Boyd plans to increase location growth during 2023 in relation to 2022
THE
Boyd
GROUP
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