Anywhere Real Estate — Q1 2025 Earnings Presentation
33 slides from Anywhere Real Estate's earnings presentation, Apr 29, 2025
Slide 1: Earnings Call Q1 2025
> Earnings Call Q1 2025 %* Anywhere
Slide 2: Management Presenters
Management Presenters Ryan Schneider Charlotte Simonelli Alicia Swift Chief Executive Officer Executive Vice President and Senior Vice President, Investor Relations and President Chief Financial Officer and Treasury 2
Slide 3: Important Disclosures
Important Disclosures Forward-Looking Statements This presentation contains forward-looking statements. The Company desires to take advantage of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995 and is including this statement for the express purpose of availing itse
Slide 4: Our Business
Our Business 4
Slide 5: The Anywhere Network
The Anywhere Network As a leader of Integrated Residential Real Estate Services in the U.S., we combine the world’s most extensive agent network, industry-leading brands, integrated services, and innovative product and technology capabilities to lead the world on a better real estate journey. 5
Slide 6: Regularly Recognized for Talent and Culture Leadership
Regularly Recognized for Talent and Culture Leadership POWERFUL CULTURE LEADERS OF LEADERS IMPACT AND GOVERNANCE 2024 Impact Report Our Board of Directors: • Diverse and independent Board of Directors • Nominating & Corporate Governance Committee Charter includes ESG oversight responsibilities • Rob
Slide 7: Investment Highlights
Investment Highlights 7
Slide 8: Anywhere has the Competitive Edge
The opportunity to drive change at scale that comes with closing ~1 million homesale sides annually A nationwide network of trusted advisors Industry’s leading franchise business with six nationally Anywhere has the recognized brokerage brands Competitive Edge End-to-end national assets in brokerage
Slide 9: Attractive Franchise Power
Attractive Franchise Power Unmatched Brand Portfolio Fast Facts1 • Anywhere Real Estate is a leading real estate franchisor in the U.S., with six nationally recognized brokerage brands • Worldwide footprint with over 2,100 total franchisees • Typical new U.S. contract is 10 years in length • Average
Slide 10: Unparalleled Franchise Scale
Unparalleled Franchise Scale 11,200 WORLDWIDE SALES AGENTS 130,200 WORLDWIDE SALES AGENTS 96,300 WORLDWIDE SALES AGENTS 58,231 U.S. ANNUAL SIDES 219,329 U.S. ANNUAL SIDES 468,004 U.S. ANNUAL SIDES 4,900 WORLDWIDE SALES AGENTS 43,200 WORLDWIDE SALES AGENTS 26,100 WORLDWIDE SALES AGENTS 16,494 U.S. AN
Slide 11: Market Leader in Luxury Real Estate
Market Leader in Luxury Real Estate Iconic Luxury Brands We Sell More $1M+ Homes Than Anyone1,2 Market Share of $1M+ Homes, 2024 US Volume 17% #1 #2 #3 #4 #5 Fast Facts1 We Do Even Better At Higher Price Points1,2 • Expanded our luxury leadership in 2024 with new global locations and Market Share of
Slide 12: Leading Provider of Title & Settlement Services
Leading Provider of Title & Settlement Services Title Agency Operations1 Upward Title (launched 2023)2 • Full-Service title, escrow and settlement services across more than 40 • New multi-franchise title joint venture offering, exclusively for affiliates brand names • Upward JVs are full-service tit
Slide 13: Leadership in Technology and Data
Leadership in Technology and Data High Impact Technology And Products API Connectivity Personalized agent and franchisee technology to enhance productivity developers.anywhere.re enables freedom, flexibility, and choice for third party developers, brokers, and agents Affiliate Insights and allows us
Slide 14: Deploying Generative AI at Scale
Deploying Generative AI at Scale Generative AI Leadership Aggressive generative AI agenda to drive better experiences faster and at lower costs Multiple generative AI deployments and Proofs of Concept across many parts of our company, including marketing, brokerage and title operations, lead generat
Slide 15: Anywhere is Focused on Agent and Consumer Pain Points
Anywhere is Focused on Agent and Consumer Pain Points How We Get There Making the Real Estate Transaction Simpler for The Line-of-sight Innovation is Attractive for Agents and Consumers the Ecosystem IMPROVE BUYING AND SELLING EXPERIENCE ACROSS THE CONSUMERS WIN "FULL BUY BOX" OF REAL ESTATE • Highe
Slide 16: First Quarter Results
First Quarter Results 16
Slide 17: Q1 2025 By The Numbers
Q1 2025 By The Numbers 311K +6% Y/Y $1.2B 1 Global Affiliated Agents Combined Closed Transaction (176K Domestic Agents) Revenue Generated Volume Growth (52K Owned Brokerage Agents) Revenue $(1)M $14M 80.4% Realized Cost Savings Agent Commission Split 2 Operating EBITDA (On track to realize $100M cos
Slide 18: Transaction Volume
Transaction Volume Q1 2025 vs. Q1 2024 Anywhere Combined Closed Homesale Sides (4)% Average Homesale Price 11% Combined Total Homesale Transaction Volume (sides x price) 6% 1 Anywhere Brands - Franchise Group Closed Homesale Sides (5)% Average Homesale Price 10% Total Homesale Transaction Volume (si
Slide 19: Key Revenue Drivers
Key Revenue Drivers Q1 2025 vs. Q1 2024 Amount % Change 1 Anywhere Brands - Franchise Group Closed Homesale Sides 137,089 (5)% Average Homesale Price $516,999 10% Average Broker Commission Rate 2.41% (2) bps Net Royalty per Side $453 9% Anywhere Advisors - Owned Brokerage Group Closed Homesale Sides
Slide 20: Revenue Details
Revenue Details Net Revenue ($ in millions) Q1 2025 Q1 2024 $ Change 1 Franchise Group $ 204 $ 200 $ 4 Owned Brokerage Group 990 919 71 Title Group 78 71 7 2 Corporate & Other (68) (64) (4) Total Revenue $ 1,204 $ 1,126 $ 78 1. Franchise Group is inclusive of Anywhere Leads Group and Cartus Relocati
Slide 21: Operating EBITDA Details
Operating EBITDA Details Operating EBITDA ($ in millions) Q1 2025 Q1 2024 $ Change 1 Franchise Group $ 97 $ 90 $ 7 Owned Brokerage Group (47) (59) 12 Title Group (18) (15) (3) Corporate & Other (33) (29) (4) Operating EBITDA $ (1) $ (13) $ 12 1. Franchise Group is inclusive of Anywhere Leads Group a
Slide 22: Operating EBITDA without Intercompany Royalty
Operating EBITDA without Intercompany Royalty Operating EBITDA ($ in millions) Q1 2025 Q1 2024 $ Change Franchise Group $ 29 $ 26 $ 3 Owned Brokerage Group 21 5 16 Franchise & Owned Brokerage Combined $ 50 $ 31 $ 19 Note: The segment numbers noted above do not reflect the impact of intercompany roya
Slide 23: Advisors: Quarterly Agent Commission Split Rate
Advisors: Quarterly Agent Commission Split Rate Quarterly Agent Commission Split (Commission Expense divided by Gross Commission Income) (%) 82.0% 80.5% 80.4% 80.3% 80.3% 80.4% 80.3% 80.1% 80.1% 80.2% 80.0% 79.8% 80.0% 79.6% 79.2% 12 consecutive quarters with commissions around 80%, underscoring our
Slide 24: Operating, Marketing, and G&A by Reportable Segment
Operating, Marketing, and G&A by Reportable Segment For the three months ended March 31, 2025 ($ in millions) General and 1 Operating Marketing Total Administrative 2 Franchise Group $ 61 $ 21 $ 26 $ 108 Owned Brokerage Group 205 24 24 253 Title Group 75 2 17 94 3 Corporate & Other (64) (3) 36 (31)
Slide 25: Historical Cost Savings Delivery
Historical Cost Savings Delivery 1 2 Anywhere Realized Cost Savings by Year ($M) Anywhere Actual Flow Through of Savings to Expenses ($M) We realized approximately $660M of total cost savings ~$220 ($428) between 2020 and 2024 2,140 ~$150 1,712 ~$125 Approximately 35% of total cost ~$80 ~$85 savings
Slide 26: Historical Cost Savings Delivery and 2025 Savings Program Target
Historical Cost Savings Delivery and 2025 Savings Program Target 1 We expect to realize ~$100M of additional cost savings in 2025, which will represent ~$830M of cost savings since 2019 ~$220 2025 Cost Savings Target2 • ~$20M of carryover from actions taken in ~$150 2024 ~$125 • 85% of savings alrea
Slide 27: Transformed Debt Stack
Transformed Debt Stack December 31, 2019 ($M) Total Debt 3,472 • Reducing debt and investing in the business remain our 1,314 top capital allocation priorities 407 1,058 • Reduced our debt level by over $930M from 2019 to 2024 717 550 550 ◦ In 2023, reduced debt by ~$310M through bond 190 exchanges
Slide 28: Capitalization Table
Capitalization Table Pricing Maturity As of March 31, 2025 1 2 Revolving Credit Facility SOFR+10bps+175 July 2027 $ 610 Senior Secured Second Lien Notes 7.000% April 2030 640 Senior Notes 5.750% January 2029 558 Senior Notes 5.250% April 2030 449 Exchangeable Senior Notes 0.250% June 2026 403 Financ
Slide 29: Appendix
Appendix 29
Slide 30: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 3/31/2025 3/31/2024 Net loss attributable to Anywhere $ (78) $ (101) Income tax benefit (24) (28) Loss before income taxes (102) (129) Add: Depreciation and amortization 46 55 Interest expense, net 36 39 1 Stock-based compensation 5 4 2
Slide 31: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 3/31/2025 3/31/2024 Franchise Group $ 97 $ 90 Owned Brokerage Group (47) (59) Title Group (18) (15) Corporate and Other (33) (29) Operating EBITDA (1) (13) Less: Depreciation and amortization 46 55 Interest expense, net 36 39 Income tax
Slide 32: GAAP Reconciliation
GAAP Reconciliation For the three months ended ($ in millions) 3/31/2025 3/31/2024 Net loss attributable to Anywhere $ (78) $ (101) Income tax benefit (24) (28) Income tax refunds 18 1 Interest expense, net 36 39 Cash interest payments (29) (31) Depreciation and amortization 46 55 Capital expenditur
Slide 33: Thank You
WE MOVE THE FUTURE ANYWHERE REAL ESTATE INC 33 anywhere’ ak CENTURY 21. SB. COVCOTaN BANKER Thank You Anywhere Integrated €cartus Services *