Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q3 2022 Earnings Presentation
13 slides from Ranpak's earnings presentation, Nov 1, 2022
Slide 1: 3Q22 Earnings Presentation
OUR PROMISE TO A SUSTAINABLE FUTURE 3Q22 Earnings Presentation November 1, 2022
Slide 2: Disclaimers
Disclaimers CAUTION ABOUT FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Our forward-looking statements include, but are not limited to, the guidance include
Slide 3: Ranpak Third Quarter Performance Commentary
Ranpak Third Quarter Performance Commentary Macro environment and destocking continue to weigh on results. Cost reduction efforts not enough to offset volume and input cost pressure headwinds in the near term • Top-line results pressured in all geographies as lower e-Commerce and business activity i
Slide 4: Revenue
System Installed Constant Currency Revenue Base (‘000s) Net Revenue(1) $ in millions 140 7.3% $100 (12.0)% North America 15% • Results driven by lower PPS top-line offset 120 somewhat by Automation $80 • Lower e-Commerce activity among existing 100 accounts drove declines in Void-fill and Wrapping 8
Slide 5: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) 35% (41.8%) CC Adj. EBITDA down 41.8% vs 3Q21 29.8% 30% • Gross profit down 29.0% driven by: • Lower volumes compared to prior year • Increased material cost impacting 25% price / cost • Begin to lap headwinds in Q4 and early 2023 • Pa
Slide 6: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 3Q22 with a solid balance sheet and liquidity position - cash balance of $61.3 million and no drawings on its Revolving Credit Facility • As of September 30, 2022 the Company had First Lien Term Loan facilities outstanding consisting of two tranches of
Slide 7: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Paper revenue $ 62.6 $ 81.2 $ 199.0 $ 229.5 Machine lease revenue 11.7 11.8 36.4 35.0 Other revenue 3.5 4.1 11.7 10.3 Net revenue 77.8 97.1
Slide 8: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2022. Such preliminary data should not be viewed as a comprehensiv
Slide 9: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2022. Such preliminary data should not be viewed as a comprehensiv
Slide 10: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2022. Such preliminary data should not be viewed as a comprehensiv
Slide 11: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2022. Such preliminary data should not be viewed as a comprehensiv
Slide 12: Reconciliation of Non-GAAP metrics – Prior Format
Reconciliation of Non-GAAP metrics – Prior Format $ in millions except per share values The results of operations data contained in this press release are based on our preliminary, unaudited results of operations for the quarter ended September 30, 2022. Such preliminary data should not be viewed as
Slide 13: Ranpak years
Ranpak 50 years Deliver a Better World”