Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q1 2025 Earnings Presentation
10 slides from Ranpak's earnings presentation, May 6, 2025
Slide 1: 1Q25 Earnings Presentation
1Q25 Earnings Presentation May 6, 2025
Slide 2: Disclaimers
Disclaimers The results of operations data contained in this presentation are based on our preliminary, unaudited results of operations for the quarter ended March 31, 2025. Such preliminary data should not be viewed as a comprehensive statement of our financial results for the quarter ended March 3
Slide 3: Non-GAAP Measures
Non-GAAP Measures CAUTIONARY NOTICE REGARDING NON-GAAP MEASURES Non-GAAP measures, such as EBITDA, AEBITDA, and constant currency change, have limitations as analytical tools, and you should not consider them in isolation or as substitutes for analysis of our results as reported under U.S. GAAP. In
Slide 4: Ranpak First Quarter Performance Commentary
Ranpak First Quarter Performance Commentary Strong volume growth in North America driving top-line growth 12% higher volumes drove 8.8% increase in sales on constant currency basis vs. prior year (increased 6.9% on an actual basis) Void-fill and Wrapping (e-Commerce) accounts driving growth while in
Slide 5: Revenue
Revenue System Installed Base (‘000s) Net Revenue(1) $ in millions Constant Currency (Non- North America 2.1% Increase in System GAAP) % Change(1) 175 Installed Base 100 8.8% • E-commerce led plastic to paper conversion and strength in distribution channel drove 40%+ volume growth in the region year
Slide 6: Profitability
Profitability Adjusted EBITDA(1) Adj. EBITDA down 7.8% on a constant currency Decrease of 3.6% at Constant Currency (Non-GAAP) % (non-GAAP) % change(2) basis and down 3.6% $ in millions Change(2), excluding the impact excluding the impact from warrants (down 9.9% vs of warrants 1Q24 on actual basis)
Slide 7: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 1Q25 with a solid liquidity position - cash balance of $65.5 million and no drawings on its Revolving Credit Facility • Built paper inventory in first quarter. Expect to turn to cash in 2H25 • Net Leverage Ratio of 4.3x as of 3/31/25 • Bank Adj. EBITDA
Slide 8: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Three Months Ended March 31, 2025 2024 Net product revenue $ 77.6 $ 72.5 Machine lease revenue 13.6 12.8 Net revenue 91.2 85.3 Cost of product sales 54.8 45.7 Cost of leased machines 5.5 7.3 Gross profit 30.9 32.3 Selling, ge
Slide 9: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics Constant Currency Three Months Ended March 31, (Non-GAAP) % 2025 2024 $ Change % Change Change (6) Net loss (10.9) (8.1) (2.8) 34.6 34.6 Depreciation and amortization expense – COS 6.1 10.4 (4.3) (41.3) Depreciation and amortization expense – D&A 9.0 8.4 0.6 7.1 In
Slide 10: Ranpak
Ranpak Deliver a Better World”