Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q3 2023 Earnings Presentation
13 slides from Ranpak's earnings presentation, Oct 31, 2023
Slide 1: 3Q23 Earnings Presentation
3Q23 Earnings Presentation October 31, 2023
Slide 2: Disclaimers
Disclaimers CAUTION ABOUT FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Our forward-looking statements include, but are not limited to, the guidance include
Slide 3: Ranpak Third Quarter Performance Commentary
Ranpak Third Quarter Performance Commentary Improved volumes and continued improvement in gross margin Higher volumes and improved mix drove 1.9% increase in sales on constant currency basis • North America net revenue increased 4.5% vs prior year • EMEA/APAC net revenue up 0.2% on a constant curren
Slide 4: Revenue
Revenue System Installed Base (‘000s) Constant Currency Net Revenue(1) $ in millions 150 2.5% $100 1.9% North America 2.3% • Manufacturing sector remains in contraction territory 125 and inflationary pressures continue to weigh on consumer discretionary spend on goods $75 • Continued progress on str
Slide 5: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) 25% 8.4% CC Adj. EBITDA up 8.4% vs 3Q22 $20 21.0% • Gross profit up 23.4% on constant currency 20% 19.7% basis: • Margin improvement to 38.2% from 31.5% in prior year $15 15% • Input cost environment remains favorable vs prior year • E
Slide 6: Global Product Launch – Flap'it!
Global Product Launch – Flap’it!TM Flap’itTM increases packaging speed up to five times compared to manual packing while offering the option to rightsize packages up to mailer format with superior protection 6
Slide 7: NOAM Product Launch – AutoFill
NOAM Product Launch – AutoFillTM AutoFillTM offers automated precise and consistent dunnage insertion with integrated box closing, reducing two touchpoints at high throughput 7
Slide 8: Global Upcoming Product Launch – Cut'it! Multi-lid Extension
Global Upcoming Product Launch – Cut’it!TM Multi-lid Extension Extension Cut’itTM EVO2 height reduction technology with option to use four different lids on a single machine, enabling customers to enhance the unboxing experience while increasing supply chain flexibility 8
Slide 9: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 3Q23 with a solid liquidity position - cash balance of $52.1 million and no drawings on its Revolving Credit Facility • Net Leverage Ratio improved slightly from 2Q23 to 5.6x as of 9/30/23 (Bank Adj. EBITDA leverage ratio of 5.8x per Covenant Calculati
Slide 10: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values 10
Slide 11: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2023. Such preliminary data should not be viewed as a comprehensiv
Slide 12: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2023. Such preliminary data should not be viewed as a comprehensiv
Slide 13: Ranpak
Ranpak Deliver a Better World”