Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q2 2019 Earnings Presentation
16 slides from Ranpak's earnings presentation, Aug 13, 2019
Slide 1: Second Quarter 2019 Earnings Release
Second Quarter 2019 Earnings Release 13 August 2019
Slide 2: Disclaimers
Disclaimers CAUTION ABOUT FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Ou
Slide 3: Snapshot of Ranpak
Snapshot of Ranpak 2018A sales breakdown Industry leader offering full suite of environmentally sustainable, systems-based packaging solutions for By region(1) By category e-Commerce and industrial supply chains Asia 5% Automation 4% Wrapping Unique, highly effective razor / razor blade model in whi
Slide 4: Transitional Quarter to Position Ranpak for Strong Second Half
Transitional Quarter to Position Ranpak for Strong Second Half • Closed transaction with One Madison Corp on June 3rd and became publicly traded on the NYSE (NYSE: PACK) • 2Q19 performance not viewed as indicative of strength of the business • Execution and timing of price increases had adverse impa
Slide 5: Key Developments
Key Developments Management Resources • Omar Asali expands role as Chairman and CEO – Focus on accelerating growth and profitability and delivering on Ranpak’s strategic objectives • Michael Jones becomes Vice Chairman – Brings expertise in sales and best practices related to sales strategy and prod
Slide 6: Key Initiatives – Faster Moving and More Proactive Organization
Key Initiatives – Faster Moving and More Proactive Organization Top Line Growth – Focus on Execution • Building new retail sales channels that are additive to existing distributor network – Leveraging board and investor networks to build pipeline with top retailers in North America – Geami retail st
Slide 7: Initiative Detail
Initiative Detail Cold Chain Geami Retail • WrapPak Protector named one of 24 finalists • Sustainable alternative to plastic from a pool of 291 teams, to move forward in the National Geographic and Sky Ocean • 100% curbside recyclable Ventures, Ocean Plastic Innovation Challenge • Enhanced customer
Slide 8: 2nd Quarter and YTD Performance Summary
2nd Quarter and YTD Performance Summary Increased systems placement by 7.6% year over year to over 100,000 $ in millions Pro Forma Commentary System Installed Base (‘000s) Constant Currency Net Sales(1) Installed base continues to grow at a steady rate with particularly strong growth from Wrapping p
Slide 9: 2Q19 and YTD Pro Forma Gross Profit and Adjusted EBITDA Performance
2Q19 and YTD Pro Forma Gross Profit and Adjusted EBITDA Performance Commentary Pro Forma Gross Margin % (1) Pro Forma Adj. EBITDA(2) Gross margin Mix remains on plan; addressed pressure on kraft paper pricing 50% $45 50% EBITDA 42.5% 42.5% 45% $40 45% Investing in the business to fuel growth contrib
Slide 10: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed the second quarter of 2019 in a strong liquidity position, including a cash balance of $11.5 million and $0 drawn on its $45 million available Revolving Credit Facility • As of June 30, 2019, the Company had First Lien Term Loan facilities outstanding
Slide 11: Deliver a Better World
© Ranpak (@)DELIVER A BETTER WORLD
Slide 12: Appendix
Appendix 11
Slide 13: Reconciliation of Non-GAAP metrics – 3 month period
Reconciliation of Non-GAAP metrics – 3 month period Successor Predecessor Pro forma Predecessor Pro forma Combined June 3, April 1, Three Three Three 2019 2019 Months Months Months B/(W) to (1) Adjust for fair-value adjustment related to deferred revenue recorded under ASC 805 in the Successor Perio
Slide 14: Reconciliation of Non-GAAP metrics – 6 month period
Reconciliation of Non-GAAP metrics – 6 month period Successor Predecessor Pro forma Predecessor Pro forma Combined June 3, January Six Six Six 2019 1, 2019 Months Months B/(W) to Months (1) Adjust for fair-value adjustment related to deferred revenue recorded under ASC 805 in the Successor Period th
Slide 15: GAAP Income Statement
GAAP Income Statement Successor Predecessor $ in millions except per share values April 1, January 1, June 3, 2019 Three Months Six Months 2019 2019 through Ended Ended through through June 30, June 30, June 30, June 2, June 2, 2018 2018 2019 2019 2019 Net sales $ 16.3 $ 40.3 $ 106.4 $ 65.2 $ 126.8
Slide 16: © Ranpak
© Ranpak