Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Q4 2024 Earnings Presentation
30 slides from Americold Realty Trust's earnings presentation, Feb 20, 2025
Slide 1: Unlocking Growth through our Infrastructure, Expertise and Partnerships
Unlocking Growth through our Infrastructure, Expertise and Partnerships Corporate Deck | February 2025
Slide 2: Disclaimer
Disclaimer This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account
Slide 3: Americold – A Compelling Growth Opportunity
Americold – A Compelling Growth Opportunity 1 Global leader in the attractive cold 2 Unique value proposition with storage industry with an integrated unparalleled expertise, network of high-quality, strategically partnerships with industry experts, located mission-critical warehouses scalable infra
Slide 4: 1. A Global Leader in Cold Storage
1. A Global Leader in Cold Storage 4
Slide 5: Significant Scale & Expertise from 120+ Years of Experience
Significant Scale & Expertise from 120+ Years of Experience Significant Scale Global Footprint Cubic Feet / Warehouse Count North Europe ~1.4B America ~5.5M 239 115M / 1,230M / 25 192 Cubic Feet of Total Capacity Pallet Positions Warehouses South Asia America Pacific Connectivity ~14,000 ~3,200 10M/
Slide 6: Financial Highlights
Financial Highlights Financial Performance Total Segment Contribution NOI $9.6B Total Enterprise Value (1) +34% growth $6.1B Equity Market Cap (1) $630M $696M $771M $847M 4Q24 Total Same Store Revenue/ 0.6% / 5.9% 2021 2022 2023 2024 Same Store NOI Growth Rate (2) Adjusted FFO $634M LTM Core EBITDA
Slide 7: Serving Customers with a Proven End-to-End Operating Model
Focus on designing Solutions that Fit our Customers' Needs In-house Design Engineering Team DESIGN Industry leading experience designing facilities to support every type of Food Producer and Distributor Serving Deep experience building Automated and Customers with a Conventional Warehouses f
Slide 8: Americold is Essential to the “Farm to Fork” Cold Chain
Americold is Essential to the “Farm to Fork” Cold Chain Restaurant Government Hotel School Sports Hospital Food Service Farm Distribution Center Supermarket Production Distribution Advantaged Center / Warehouse Public Consumers Warehouse Retail Food Distribution Center Producer e-Commerce Enhanced w
Slide 9: Deep Customer Relationships Drive Growth Opportunities
Deep Customer Relationships Drive Growth Opportunities Compelling Value Proposition Top 25 Customers ~51% of Warehouse revenues(1) Continuous commitment to best-in- class customer experience ~38 years average tenure Broad and strategically-located network of 88% utilize committed contracts/leases fa
Slide 10: New Management Team Committed to Increasing Shareholder Value
George F. Chappelle Jr. Jay Wells Robert Chambers Chief Executive Officer Chief Financial Officer President, Americas COLD: Joined 2021/Appointed 2022 COLD: Joined & Appointed 2024 COLD: Joined 2013/Appointed 2024 ~41 years experience ~40 years experience ~20 years experience New Management Team Com
Slide 11: Significant Growth Over the Past 3 Years
Significant Growth Over the Past 3 Years AFFO (in millions) 40% AFFO Growth $420M $352M $299M $300M $1.15 $1.11 $1.27 $1.47 2021 2022 2023 2024 George F. Chappelle Jr. • Refocus on 4 key strategic priorities • Announced strategic partnership • Jay Wells appointed CFO appointed interim CEO with CPKC
Slide 12: 2. Unique Value Proposition
2. Unique Value Proposition
Slide 13: Unique Value Proposition Driven by Unparalleled Expertise and Scalable Infrastructure
Scalable Infrastructure Conventional & Automated capabilities at all nodes of the supply chain and majority owned real estate Strategic Partnerships Unique Value Proposition providing unique growth opportunities Driven by Unparalleled exclusive to Americold Expertise and Scalable Infrastructure Adva
Slide 14: Scalable Infrastructure with Access to All Major U.S. Markets
Scalable Infrastructure with Access to All Major U.S. Markets 87% owned network of high- quality, strategically located warehouses Mix of conventional and automated solutions to efficiently meet customer needs on every node of the cold storage chain Typical delivery in 2 days or less with ability to
Slide 15: Americold’s Critical Infrastructure at Every Node
Americold’s Critical Infrastructure at Every Node PRODUCTION MAJOR MARKET RETAIL STORE PORTS ADVANTAGED DISTRIBUTION DISTRIBUTION Storage/VAS for food Storage/VAS for food Storage/VAS for food close Storage/VAS and store close to production close to ports to consumption (demand) support for Retail G
Slide 16: Core Operating Expertise Enhanced by Best-in-Class Partnerships
Core Operating Expertise Enhanced by Best-in-Class Partnerships Operational Partners Partner since 2022 2023 Top five global port One of North America’s largest railroad companies Total of $250 operator million of CPKC – First-of-its-kind rail-attached facility supporting the closed loop cold chai
Slide 17: Advanced Operating Systems and Warehouse Management Expertise
Advanced Operating Systems and Warehouse Management Expertise Customer Focus AOS distinguishes us from our competitors and is Advanced Integrated Systems central to our continuous improvement culture Labor Continuous Delivering standardized procedures Optimization Improvement Driving collaborati
Slide 18: Technology Differentiation: Improving Efficiency and Lowering Cost
Technology Differentiation: Improving Efficiency and Lowering Cost • Warehouse management system (WMS) provides visibility to ensure orders delivered on-time and in-full (OTIF) Project Orion ERP 415+ Identified • Labor management system (LMS) Standardize processes, optimizes workforce and delivers h
Slide 19: 3. Growth Drivers & Well-Positioned Strategy
3. Growth Drivers & Well-Positioned Strategy 19
Slide 20: Long-Term Industry Fundamentals Driving Resilient Growth
Long-Term Industry Fundamentals Key Trends in the Driving Resilient Growth Cold Storage Space Projected Annual NOI Growth (Next 5 years) Changing consumption patterns towards meal kits and fresh and 7.6% healthy food 7.5% Rising e-commerce and online grocery demand driving need for efficient del
Slide 21: A Global Leader: Cold Storage Industry Market Share
Cold Storage Industry Market Share North American Market Global Market AAGlobal Global Leader Leaderinin Temperature- Highly Americold 18% Rest of Americold 6%(1) Controlled Rest of the the Fragmented market market 80% (2) Warehousing 43% (2) Market 1,245M cubic feet 1,445M cubic feet (1) 195 facili
Slide 22: Focused Strategy to Capture the Multiple Growth Drivers
Focused Strategy to Capture the Multiple Growth Drivers Our Solutions Operational Capabilities Commitments That Fit Needs Excellence Leadership Commercial Excellence Provider of Choice Employer of Choice Technology Enablement Expand wallet share and Continuous improvements in Attract, develop
Slide 23: 4. Financial Performance
4. Financial Performance 23
Slide 24: Strong Same-Store Warehouse Revenue and NOI Growth
Strong Same-Store Warehouse Revenue and NOI Growth Significant improvement in transitioning from on demand contracts to fixed storage Same-Store Warehouse services Same-Store Rent & storage committed contracts and leases Same-Store Warehouse Revenue Fixed storage contracts for the total +60% gro
Slide 25: Strong EBITDA Margins Supported by Ongoing Efficiency Initiatives
Strong EBITDA Margins Supported by Ongoing Efficiency Initiatives Effectively optimizing margins across all business areas Core EBITDA ($M) and Margin (%) • Creating a solid foundation with efforts over the past three years to 34% build a productive, stabilized growth workforce supporting sustaina
Slide 26: Significant Financial Flexibility to Support Growth
Significant Financial Flexibility to Support Growth 1 BBB - Fitch Investment BBB - DBRS Morningstar Grade Ratings Baa3 - Moody’s 2 $922M in Total Available Liquidity Substantial $874M Undrawn Credit Facility Liquidity Position Multi-Currency Availability Net Debt to Core EBITDA of 5.4x
Slide 27: Disciplined Capital Allocation Strategy Focused on Driving Growth
Disciplined Capital Allocation Strategy Focused on Driving Growth and Generating Shareholder Value 1 2 3 4 Organic Reinvestment Opportunistic and Maintain Healthy Returning Capital in the Business Disciplined M&A Balance Sheet to Shareholders $80M+ maintenance Growth and expansion Maintain Inv
Slide 28: Commitment to Environmental, Social and Governance Initiatives
Commitment to Environmental, Social and Governance Initiatives Recognized under the Global Cold Chain Alliance’s (GCCA) new Energy Excellence Commitment to Recognition Program with Gold, Silver or Bronze certifications at 217 facilities Energy Excellence $13M+ invested in sustainability projects
Slide 29: Continued Financial Growth Projected in 2025
Continued Financial Growth Projected in 2025 Warehouse segment same store revenue growth (constant currency) 2.0%-4.0% 200 bps higher than Warehouse segment same store NOI growth (constant currency) associated revenues Warehouse segment non-same store NOI $0M-$7M Transportation and Management segmen
Slide 30: Americold – A Compelling Growth Opportunity
Americold – A Compelling Growth Opportunity 1 Global leader in the attractive cold 2 Unique value proposition with storage industry with an integrated unparalleled expertise, network of high-quality, strategically partnerships with industry experts, located mission-critical warehouses scalable infra
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