EX-99.2 3 a992segmentationsuppleme.htm EX-99.2 a992segmentationsuppleme
Driven Brands Holdings Inc. Recast of 2024 Segment System-wide Sales, Revenue, Adjusted EBITDA, Same-Store Sales, and Store Count (Unaudited , in millions of USD) Fiscal year ended December 28, 2024 In the First Quarter of Fiscal Year 2025, Driven Brands Holdings Inc. (the “Company”) changed the structure of its internal corresponding changes to the Company’s Prior to this change, the Company had four segments: Maintenance; Paint, Collision & Glass; Car Wash; and . O the Company is managing Oil Change . the Company’s four segments are: (1) Take 5 - ng through . (2) Franchise Brands - ng - franchised. (3) Car Wash - ng model. (4) Corporate and Other - (i) ; (ii) the , and (iii) shared corporate expenses. he certain expenses Car Wash and that previously reported in the Corporate and Other segment. previously announced sale of Car Wash statements that these expenses result in a slight increase in the Corporate and Other segment may also c d Exhibit 99.2


 
Recast 2024 Financial Information Segment System-wide Sales, Net Revenue, Adjusted EBITDA, Same-Store Sales Growth, and Store Count (Unaudited, in millions of USD) Selected financial data by segment (unaudited) Fiscal year ended December 28, 2024 System-wide Sales Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Take 5 Take 5 Oil Change – Franchised stores $105.6 $116.0 $118.8 $124.6 $465.0 Take 5 Oil Change – Company-operated stores 220.9 230.8 231.0 237.8 920.5 Total Take 5 $326.5 $346.8 $349.8 $362.4 $1,385.5 Franchise Brands Franchise Brands – Franchised stores $1,070.0 $1,097.8 $1,084.9 $1,034.2 $4,287.0 Franchise Brands – Company-operated stores 4.5 5.1 4.7 4.4 18.7 Total Franchise Brands $1,074.5 $1,102.9 $1,089.6 $1,038.6 $4,305.7 Car Wash $53.0 $60.3 $50.0 $49.1 $212.4 Corporate and Other $58.9 $63.5 $62.0 $53.1 $237.5 Driven Brands Franchised stores $1,175.6 $1,213.8 $1,203.7 $1,158.8 $4,752.0 Company-operated stores 284.2 299.5 297.7 295.4 1,176.8 Independently-operated stores 53.0 60.3 50.0 49.1 212.4 Total System-wide Sales $1,512.9 $1,573.5 $1,551.3 $1,503.3 $6,141.2 Net Revenue Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Franchise royalties and fees $45.2 $50.3 $49.0 $44.1 $188.6 Company-operated store sales 284.2 299.5 297.7 295.4 1,176.8 Independently-operated store sales 53.0 60.3 50.0 49.1 212.4 Advertising contributions 23.9 24.7 27.2 25.5 101.3 Supply and other revenue 75.3 81.8 77.4 57.6 292.1 Total Net Revenue $481.7 $516.6 $501.3 $471.7 $1,971.2 Franchise royalties and fees $5.7 $6.3 $6.4 $8.0 $26.4 Company-operated store sales 220.9 230.8 231.0 237.8 920.5 Supply and other revenue 27.6 30.2 30.7 33.5 122.0 Take 5 $254.2 $267.4 $268.1 $279.3 $1,068.9 Franchise royalties and fees $39.5 $44.0 $42.7 $36.1 $162.2 Company-operated store sales 4.5 5.1 4.7 4.4 18.7 Supply and other revenue 32.5 31.7 29.8 27.6 121.6 Franchise Brands $76.5 $80.8 $77.1 $68.1 $302.6 Independently-operated store sales $53.0 $60.3 $50.0 $49.1 $212.4 Supply and other revenue 1.4 1.4 1.8 1.9 6.5 Car Wash $54.5 $61.7 $51.7 $51.0 $218.9 Company-operated store sales $58.9 $63.5 $62.0 $53.1 $237.5 Advertising contributions 23.9 24.7 27.2 25.5 101.3 Supply and other revenue 13.8 18.4 15.2 (5.4) 42.0 Corporate and Other $96.5 $106.6 $104.4 $73.3 $380.9 Adjusted EBITDA Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Take 5 $88.9 $98.4 $93.3 $99.6 $380.2 Franchise Brands 47.6 54.3 50.1 43.1 195.1 Car Wash 18.0 22.0 16.2 14.0 70.2 Corporate and Other (35.0) (33.6) (30.4) (40.7) (139.7) Total Adjusted EBITDA $119.5 $141.1 $129.2 $116.0 $505.8 Adjusted EBITDA Reconciliation Income before taxes 30.0 62.7 37.3 0.3 130.5 Depreciation and amortization 31.1 32.7 33.4 34.9 132.1 Interest expense, net 43.3 32.2 43.7 37.7 157.0 Acquisition related costs(a) 1.7 0.3 (0.4) 1.0 2.4 Non-core items and project costs, net(b) 1.6 1.9 3.4 (1.0) 5.9 Cloud computing amortization(c) 1.3 1.1 1.0 4.8 8.3 Share-based compensation expense(d) 11.9 11.0 12.8 12.5 48.1 Foreign currency transaction loss (gain), net(e) 4.3 0.7 0.8 14.5 20.2 Asset sale leaseback (gain) loss, net, impairment, and closed store expenses(f) (5.7) (1.5) (3.0) 11.3 1.1 Loss on debt extinguishment(g) - - 0.2 - 0.2 Adjusted EBITDA $119.5 $141.1 $129.2 $116.0 $505.8


 
Recast 2024 Financial Information Segment System-wide Sales, Net Revenue, Adjusted EBITDA, Same-Store Sales Growth, and Store Count (Unaudited, in millions of USD) Selected financial data by segment (unaudited) Fiscal year ended December 28, 2024 Same-Store Sales Growth Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Take 5 6.7% 5.7% 5.4% 9.2% 6.8% Franchise Brands 1.5% 0.8% 0.7% 0.7% 0.9% Car Wash 0.4% (1.8%) 14.4% 25.8% 7.8% Driven Brands 1.6% 0.9% 1.4% 3.1% 1.7% Store Count Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Take 5 Take 5 Oil Change – Franchised stores 374 399 425 463 463 Take 5 Oil Change – Company-operated stores 661 676 695 718 718 Total Take 5 1,035 1,075 1,120 1,181 1,181 Franchise Brands Franchise Brands – Franchised stores 2,633 2,636 2,653 2,666 2,666 Franchise Brands – Company-operated stores 14 14 13 13 13 Total Franchise Brands 2,647 2,650 2,666 2,679 2,679 Car Wash 718 720 719 720 720 Corporate and Other 220 220 216 217 217 Driven Brands Franchised stores 3,007 3,035 3,078 3,129 3,129 Company-operated stores 895 910 924 948 948 Independently-operated stores 718 720 719 720 720 Total Store Count 4,620 4,665 4,721 4,797 4,797 (c) Includes non-cash amortization expenses relating to cloud computing arrangements. (d) Represents non-cash share-based compensation expense. (g) Represents charges incurred related to the Company’s partial repayment of Senior Secured Notes in conjunction with the sale of its Canadian distribution business. (e) Represents foreign currency transaction (gains) losses, net that primarily related to the remeasurement of our intercompany loans as well as gains and losses on cross currency swaps and forward contracts. (f) Relates to (gains) losses, net on sale leasebacks, impairment of certain fixed assets and operating lease right-of-use assets related to closed and underperforming locations, assets held for sale, lease exit costs and other costs associated with stores that were closed prior to the respective lease termination dates, as well as goodwill impairment within the Car Wash segment. (a) Consists of acquisition costs as reflected within the unaudited consolidated statements of operations, including legal, consulting and other fees, and expenses incurred in connection with acquisitions completed during the applicable period, as well as inventory rationalization expenses incurred in connection with acquisitions. We expect to incur similar costs in connection with other acquisitions in the future and, under U.S. GAAP, such costs relating to acquisitions are expensed as incurred and not capitalized. (b) Consists of discrete items and project costs, including third party consulting and professional fees associated with strategic transformation initiatives as well as non-recurring payroll- related costs.