Graphic Packaging Holding Company · NYSE:GPK
Graphic Packaging — Investor Presentation (March 2025)
19 slides from Graphic Packaging's investor presentation, March 2025
Slide 1: Investor Presentation February – March, 2025
Investor Presentation February – March, 2025 © 2025 Graphic Packaging Holding Company
Slide 2: Forward-Looking Statements
Forward-Looking Statements CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS • Any statements of the Company’s expectations in these slides, including, but not limited to, statements regarding the company’s plans and ability to meet its Vision 2030 goals, expected incremental EBITDA from the
Slide 3: Graphic Packaging at a Glance
Health & Beauty Graphic Packaging at a Glance Household 4% Global Leader in Sustainable Consumer Packaging 12% Food 38% Foodservice 2024 $8.8B $1.7B 21% Sales 2024 Net Sales 2024 Adj EBITDA1 25% Atlanta, GA +23,000 Beverage Headquarters Employees ~95% 26 Revenues from Countries recyclable products2
Slide 4: Expansion of capabilities with diversified portfolio of consumer markets and products built over time
Expansion of capabilities with diversified portfolio of consumer markets and products built over time 10% 4% 12% 10% 2017 2024 38% $4.4B 50% 21% $8.8B Sales Sales 30% 25% 4 Legend:
Slide 5: Historical strength in the center of the store in dry food and beverage
Historical strength in the center of the store in dry food and beverage 5
Slide 6: Our innovation platforms extend our reach across retail channels and markets
Our innovation platforms extend our reach across retail channels and markets 6
Slide 7: Graphic Packaging’s products are in the hands of tens of millions of consumers multiple times a day
Graphic Packaging’s products are in the hands of tens of millions of consumers multiple times a day Food Beverage Foodservice Household Health & Beauty 38% 25% 21% 12% 4% 7 Note: Percentages represent 2024 Sales Mix
Slide 8: Consumer Packaging Sales by Market
Consumer Packaging Sales by Market We “move with the consumer” to deliver consistent results and profitability 8 Note: YoY unadjusted; excludes Russia.
Slide 9: Delivering consistent results across a wide range of market conditions
Delivering consistent results across a wide range of market conditions Strong margin performance despite recent volume weakness Packaging Volume1 Adj EBITDA Margin 7% Customer Destocking Consumer Affordability Customer Destocking Consumer Affordability 21% 5% 3% 19% * * 1% -1% -3% -5% -7% Q1'23 Q2'2
Slide 10: Transformational Investment
Transformational Investment Capabilities ▪ 2018: Combination with International Paper Consumer Packaging business ▪ scale exposure to growing foodservice markets Innovation ▪ 2021: Acquisition of AR Packaging ▪ global innovation leadership Competitive Advantage ▪ 2022: Build Kalamazoo K2 recycled pa
Slide 11: Europe: From supplier to ‘Partner of Choice’ in fragmented market
Europe: From supplier to ‘Partner of Choice’ in fragmented market Acquisition of AR Packaging enhanced innovation expertise and expanded capabilities, market coverage, and geographic footprint 15% 15% Other 48% 8% Legacy GPK (~$1B) + AR Packaging (~$1B) 8% 2%4% Food Beverage Health Care Foodservice
Slide 12: High Engagement with Customers Across Five Innovation Platforms
High Engagement with Customers Across Five Innovation Platforms Addressable Market Opportunity $15 Billion $5.0B $4.0B $1.5B $2.5B $2.0B Trays & Bowls Cups & Containers Multi-Packs Paperboard Canisters Strength Packaging 12
Slide 13: Graphic Packaging global innovation capabilities well positioned to benefit from sustainability regulations
Graphic Packaging global innovation capabilities well positioned to benefit from sustainability regulations Recent passage of PPWR creates new urgency for European consumer packaging KeelClipTM ProducePackTM PaperSealTM Punnet Value Proposition Value Proposition Value Proposition Paperboard clip-sty
Slide 14: Better, Every Day through our 2030 sustainability commitments
Better, Every Day through our 2030 sustainability commitments BETTER, EVERY DAY PILLAR ACTION AREA 2030 GOALS UN SDG CONNECTION Driving • Every new product innovation more circular, more functional, Better Packaging Circularity and more convenient than existing alternatives • 75 th percentile employ
Slide 15: Scope 1 & 2 Emissions Decarbonization Pathway
Scope 1 & 2 Decarbonization Pathway1 Proposed renewable fuel projects at paperboard facilities combined with modeled grid greening are projected to achieve ~70-75% of the 2032 target BAU Grid 2,000,000 2021 Growth2 Greening Scope 1 & 2 Emissions (metric tons CO2e) Emissions Renewable Fuel Projects 1
Slide 16: Global Leader in Sustainable Consumer Packaging
Global Leader in Sustainable Consumer Packaging Innovation Culture Planet Results Build the leading Enable a safe, engaged, Steadily and measurably Consistently execute for sustainability-focused customer-focused improve the environmental customers, shareholders consumer packaging culture footprint
Slide 17: Vision 2030 Base Financial Model and Capital Allocation Priorities
Vision 2030 Base Financial Model and Capital Allocation Priorities Base Model: Annual Sales Annual Adj Annual Adj Normalized Capex Growth EBITDA Growth EPS Growth (% of sales) Low-Single Digits Mid-Single Digits High-Single Digits ~5% After 2025 Capital Priorities: ▪ Reinvest to Expand Capabilities1
Slide 18: Significant Cash Flow to Deploy for Value Creation
Significant Cash Flow to Deploy for Value Creation ~$5B+ Cash Flow (~$17/share) 2024-2030 Vision ~$2.5B Cash Flow (~$8/share) 2030 2024-2027 2029 2028 ~$1B Cash Flow ~$1B Cash Flow 2027 2nd incremental 2026 $80M Waco Incremental EBITDA 2025 $80M Waco ~$900M to ~$1B EBITDA Cash Flow CapEx Cycle 2024
Slide 19: 2025 Guidance and Commentary
2025 Guidance and Commentary Current F/X 2025 Core & Base1 2025 Core2 Headwind3 F/X Headwind ▪ Sales $8.66B $8.7B - $8.9B -$0.12B $8.6B - $8.8B ▪ Adjusted EBITDA $1.68B $1.68B - $1.78B -$0.02B $1.66B - $1.76B ▪ Adjusted EPS $2.53 $2.53 - $2.78 -$0.05 $2.48 - $2.73 ▪ Capital Spending: ~$700M ▪ Innova
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