Slide 1: Fiscal Fourth Quarter 2024 Earnings Conference Call
Fiscal Fourth Quarter 2024 Earnings Conference Call December 5, 2024 December 5, 2024 P.1
Slide 2: Safe Harbor
Safe Harbor FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. The words “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “aspiration,” “objective,” “project,” “believe,” “c
Slide 3: Investor Day 2024 Next Week!
Investor Day 2024 Next Week! DECEMBER 11 8:00am – 1:00pm ET Convene, 75 Rockefeller Plaza | NYC Registration is still open! Please join Greif’s executive leadership team for a half-day interactive event discussing our operating model optimization and go-forward strategic priorities https://investord
Slide 4: Optimized Business Model Enables Margin Expansion and Efficiency Gains
Optimized Business Model Enables Margin Expansion and Efficiency Gains Customized Polymer Durable Metal Sustainable Fiber Integrated Solutions Solutions Solutions Solutions Fiber Drums Small Plastics Large Steel Caps & Closures Tubes and Cores Large & Medium Medium & Small Paints, Linings Plastics S
Slide 5: Proactively Shifting our Product Mix
Proactively Shifting our Product Mix Targeting High Growth End Markets Last Investor Day Food & 2015 2022 2024 2025+ Beverage Pharma & Medical Adj. EBITDA by: Material Flavors & Solution Fragrances ▪ Polymers ▪ Metals ▪ Fiber ▪ Integrated Agrochemicals Positioning for the Next Era of Growth and Prof
Slide 6: Optimizing Cost Base to Accelerate Margin Expansion
Optimizing Cost Base to Accelerate Margin Expansion MULTIPLE LEVERS TO ENHANCE OPERATING LEVERAGE SG&A Network Operating Rationalization Optimization Efficiency Gains $100M Target Savings by 2027 Strengthening Shareholder Value Creation through Disciplined Cost Management December 5, 2024 P.6
Slide 7: Fourth Quarter Demand: Mixed and Offsetting Trends Continue
Fourth Quarter Demand: Mixed and Offsetting Trends Continue Regional volume performance (year-over-year) and current market trends Performing Well in a Difficult Environment, Significant Operating Leverage Remains North GIP (0.4%) America PPS 0.7% EMEA 8.5% ▪ GIP: Continued mixed demand patterns bas
Slide 8: Fiscal Fourth Quarter 2024 Key Highlights
Fiscal Fourth Quarter 2024 Key Highlights ▪ Completed operating model optimization, enabling enhanced ability to leverage our core competitive advantages and pursue market-aligned growth ▪ Completed Wave 14 Net Promoter Score survey, with an increased score of 69 (previous 68) representing continued
Slide 9: Global Industrial Packaging (GIP) Review
Global Industrial Packaging (GIP) Review FINANCIAL PERFORMANCE ($M) Q4 FY23 Q4 FY24 Net sales $721.0 $786.9 Gross profit $154.4 $167.0 Adjusted EBITDA $105.4 $109.4 Adjusted EBITDA % 14.6% 13.9% FQ4 ‘24 TAKEAWAYS ▪ End markets remained mixed globally, but overall volumes have been resilient resultin
Slide 10: Paper Packaging & Services (PPS) Review
Paper Packaging & Services (PPS) Review FINANCIAL PERFORMANCE ($M) Q4 FY23 Q4 FY24 Net sales $581.6 $624.5 Gross profit $118.8 $118.7 Adjusted EBITDA $93.7 $85.3 Adjusted EBITDA % 16.1% 13.7% FQ4 ‘24 TAKEAWAYS ▪ Corrugated markets and volumes improved year-over-year ▪ Tube & core markets mixed and v
Slide 11: Continued Disciplined Capital Allocation, With Near-Term Prioritization on Debt Reduction
Continued Disciplined Capital Allocation, With Near-Term Prioritization on Debt Reduction Maintenance Growth CAPEX CAPEX ~30% Maintain a Strong Foundation Debt Reduction $2.9B CAPITAL DEPLOYED ~20% Return Cash to Shareholders UNDER BUILD TO LAST (FY22 – FY24) M&A ~50% Invest Growth for Cash Dividend
Slide 12: Introducing Low-end, 11-Month Fiscal 2025 Guidance
Introducing Low-end, 11-Month Fiscal 2025 Guidance Greif fiscal year 2025 will end on September 30, 2025, with a two-month fourth quarter FISCAL 2025 11-MONTH GUIDANCE ($M) KEY GUIDANCE ASSUMPTIONS Provided Q4’24 Financial assumptions ($M) 1 Low-End Adjusted EBITDA DD&A $ 251 $675 Adj. Capital expen
Slide 13: Why Invest in Greif
Why Invest in Greif 1 Global Leader in Essential Industries ▪ Highly scalable global franchise ▪ World-renowned brand and high product quality ▪ Postured to capture incremental product share 2 Positioned to Deliver Stronger Earnings Power ▪ Ongoing mix shift to higher growth and less cyclical busine
Slide 14: Appendix
Fiscal Fourth Quarter 2024 Earnings Conference Call Appendix December 5, 2024 P.14
Slide 15: Sales Breakdown for Primary Products
Sales Breakdown for Primary Products December 5, 2024 P.15
Slide 16: Reconciliation of Net Income to Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: Reconciliation of Net Income to Adjusted EBITDA Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported
Slide 17: Reconciliation of Segment Operating Profit to Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: Reconciliation of Segment Operating Profit to Adjusted EBITDA Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to
Slide 18: Reconciliation of Adjusted Free Cash Flow
GAAP to Non-GAAP Reconciliation: Reconciliation of Adjusted Free Cash Flow Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our reported finan
Slide 19: Reconciliation of Net Income and Class A EPS Excluding Adjustments
GAAP to Non-GAAP Reconciliation: Reconciliation of Net Income and Class A Earnings Per Share Excluding Adjustments Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be co
Slide 20: Reconciliation of Compliance Leverage Ratio and Net Debt
GAAP to Non-GAAP Reconciliation: Reconciliation of Compliance Leverage Ratio and Net Debt Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our
Slide 21: Reconciliation of 2025 Adjusted Free Cash Flow Guidance
GAAP to Non-GAAP Reconciliation: Reconciliation of 2025 Adjusted Free Cash Flow Guidance Non-GAAP measures are intended to supplement and should be read together with our financial results. They should not be considered an alternative or substitute for, and should not be considered superior to, our