American Home Shield 2014 Annual Report Download - page 3

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When I joined ServiceMaster as CEO in 2013, one of the things that
struck me immediately was the company’s rich history. In the 86 years
since being founded, the company had achieved something most
service companies would envy – the trust of customers who literally
invite us into their homes and businesses. But with that trust comes
great responsibility: protecting and maintaining 75,000 homes and
businesses we’re invited into each day.
Serving customers isn’t new to us. It’s part of ServiceMaster’s DNA.
When we re-entered the public equity markets in June 2014, we even
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performance of a company that reached an important milestone in
2014, but also set out on a new path forward. In 2014, we completed
the spin-off of our former lawn care business, TruGreen, to allow us
to concentrate on growth and provide TruGreen the time and focus it
needs to make the changes necessary to complete the turnaround of
its business.
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the past year. Moreover, I hope you’ll get a sense of the momentum
that’s building in all of our businesses. Our strong 2014 results
demonstrated that we could not only grow our business quickly and
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a premium on keeping our commitments to investors, customers and
each other.
In 2014, we delivered:
Strong revenue and earnings growth – Revenues grew in all three
of our business segments, and 7 percent overall. Adjusted EBITDA
grew 24 percent overall, the company’s best earnings growth in more
than a decade.
([SDQGHGSURÀWPDUJLQV² In addition to top- and bottom-line
growth, we expanded margins by a very healthy 310 basis points
through improved productivity, operational excellence and supply
chain management.
,QFUHDVHGIUHHFDVKÁRZ²Our company generated $525 million in
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year, which allowed us to continue to pay down debt and further
de-leverage. In fact, we applied net IPO proceeds and additional
cash to reduce debt by $835 million and strengthened our overall
capital structure.
(continued on next page)
ServiceMaster | 2014 Annual Report 1