Investor Presentaiton slide image

Investor Presentaiton

Multiple Efficiencies Driving Margin Improvement Bridger is Primed to Recognize Margin Optimization as the Fleet Expands Source: Bridger management estimates (1) See Slide 41 for a reconciliation of 2021 Adjusted EBITDA to GAAP net income. Cost (% Revenue) Revenue ($) ~27% Adj. EBITDA Margin ~57% Adj. EBITDA Margin Bridger is at an inflection point where margins are expected to continue to increase due to high-capacity utilization, fleet expansion and the benefit of prior cost incurrence The Bridger business creates a significant amount of operating leverage 2021A (1) 2023E Building Blocks of Increasing Margin Platform Bridger offers a market leading platform in wildfire management with a modern fleet and long-standing federal and state agency relationships Scaled Admin. Operating and administrative expenses are not expected to scale in-line with the fleet size Increased Demand A Bridger is expected to continue to command above-average flight hour and standby day rates due to a superior product offering Unit Efficiency Fire suppression expertise and a robust maintenance and training program are anticipated to create cost efficiencies for fleet management 30
View entire presentation