{
  "docId": "019dd923-622c-750b-8b95-a87005b884b8",
  "docSlug": "4cc7dff78d8c",
  "documentTitle": "Dye & Durham Limited (DND)",
  "authorId": "27_Engine_Capital",
  "authorName": "Arnaud Ajdler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2024-12-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7778431,
  "pageNumber": 21,
  "pageCount": 112,
  "prevPage": 20,
  "nextPage": 22,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "The slide uses a bar chart to contrast negative/low growth of the subject company against higher market and peer growth metrics.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "bar_chart_vertical",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b95-a87005b884b8/21",
  "deckHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b95-a87005b884b8#slide-21",
  "components": [
    {
      "bbox": {
        "h": 0.1,
        "w": 0.23,
        "x": 0.14,
        "y": 0.38
      },
      "kind": "callout",
      "text": "DND's organic revenue growth pales in comparison to industry and relevant peer benchmarks",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3015d2ef-7bd8-4d09-9be2-f4aff2296917",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.27,
        "x": 0.45,
        "y": 0.33
      },
      "kind": "callout",
      "text": "If Canadian Residential Sales Volumes grew ~5% year over year while DND grew 3% in 2024, it implies that DND's core business is losing share",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "96d267d5-841a-488c-87dc-3714478dee25",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "If Canadian Residential Sales Volumes grew ~5% year over year while DND grew 3% in 2024, it implies that DND’s core business is losing share",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-0396-73da-b8fb-f692a9d9a07b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.75,
        "x": 0.13,
        "y": 0.26
      },
      "kind": "chart",
      "text": "Bar chart showing growth rates for Dye & Durham (2023, 2024) vs Industry Growth, Canada Sales Volume, InfoTrack, and ESC.",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "df1cf4ea-2df7-48f8-a4da-72d2c2c829d4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.55,
        "x": 0.04,
        "y": 0.15
      },
      "kind": "list",
      "text": "The Board has not held management accountable for failing to hit its 10% to 12.5% organic growth target.\nDND was ~7-9% below its organic growth target in 2024.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ba08148d-0f25-4e04-a18f-a60b204a0e04",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "organic growth: 3%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd953-0396-73da-b8fb-f82055840f8a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.8,
        "x": 0.12,
        "y": 0.93
      },
      "kind": "source-note",
      "text": "Company filings, publicly available information. 1 Dye & Durham Growth represents 2024 organic growth...",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99a69790-687d-4248-9cff-27aaadd5e13d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.45,
        "x": 0.04,
        "y": 0.09
      },
      "kind": "title",
      "text": "The Board Has Overseen Underwhelming Organic Growth",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d2f5a5f7-d21e-47de-8db7-504100ae6d76",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "fda6a6d2-0c07-46a8-afdb-a6409c3a1514",
      "evidence": "Direct comparison of company performance against market and peer benchmarks.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 40,
      "from": 21,
      "beatId": "43092e05-c583-44f4-887e-c230ef7a9751",
      "arcName": "Overcoming the Monster",
      "arcSlug": "overcoming-monster",
      "beatName": "The struggle for change",
      "beatSlug": "overcoming-monster-the-struggle",
      "evidence": "The deck outlines the challenges and obstacles to change.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}