Positioned for Strong Recovery in FY2023 & Beyond
Long-term Outlook Driven by EV growth and Lean Transformation
Units
Revenues $M
Diesel
Gas
Propane
CNG
EV
Outlook
Rev. $M
12,000
11,317
11,646
12,000
11,017
10,500
11,000
3,000
10,000
9,500
8,878
2,500
8,250
2,000
8,000
6,679
6,822
1,750
2,000
6,000
1,500
1,500
1,250
4,000
1,019
879
1,025
1,000
991
1,025
800
684
2,000
5,000
3,500
500
0
500
1,500
2,500
0
2017
2018
2019
2020
2021
2022
2023 Fcst
Short Term
(Normal Year)
Mid Term
Mid Term
Long Term
(Low)
(High)
300
15%
12%
Adj. EBITDA %
Adj. EBITDA $M
11%
10%
200
8%
8%
7%
10%
7%
6%
5%
4%
250
100
200
5%
150
69
70
82
55
35
-15
100
43
0
0%
-2%
2017
2018
2019
2020
2021
2022
2023 Fcst
Short Term
(Normal Year)
Mid Term
(Low)
Mid Term
(High)
Long Term
BLUE BIRD
Growth path towards 5,000 EVs, $2Bn Revenues and 12% Adj. EBITDA (~$250M)
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