Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q2 2023 Earnings Presentation
12 slides from Ranpak's earnings presentation, Aug 3, 2023
Slide 1: 2Q23 Earnings Presentation
2Q23 Earnings Presentation August 3, 2023
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 Second Quarter Performance Commentary
Ranpak Second Quarter Performance Commentary Top-line headwinds persist but more than offset by improved profitability Consolidated top-line results largely in-line with 1Q23 on an absolute $ basis (~$85mm constant currency, or ~$81mm actual) amidst slower industrial environment and e-Commerce relat
Slide 4: Revenue
System Installed Revenue Base (‘000s) Constant Currency Net Revenue(1) $ in millions 150 3.1% $100 (7.0%) North America 5% • Manufacturing sector remains challenged and 125 consumers continue to allocate more to experiences/services and essentials impacting e- $75 Commerce activity 100 • Expect new
Slide 5: Global Product Launch: Geami Wrap 'n Go
Global Product Launch: Geami Wrap ‘n Go™ This compact, retail-focused wrapping solution is ideal for in-store packaging environments. August 2, 2023 5
Slide 6: Global Product Launch: RecyCold climaliner
Global Product Launch: RecyCold® climaliner™ Paper-based thermal liner that ensures products stay within their ideal temperature range for up to 48 hours while simultaneously ensuring recyclability and sustainability. August 2, 2023 6
Slide 7: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) $25 25% 4.4% CC Adj. EBITDA up 4.4% vs 2Q22 22.5% • Gross profit up 5.4%: $20 20.0% 20% • Margin improvement to 37.0% from 32.6% in prior year and 28.1% in 4Q22 • Experienced favorable input cost developments $15 15% in all geographies
Slide 8: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 2Q23 with a solid liquidity position - cash balance of $53.9 million and no drawings on its Revolving Credit Facility • Net Leverage Ratio sequentially flat with 1Q23 at 5.7x as of 6/30/23 (Bank Adj. EBITDA leverage ratio of 5.8x per Covenant Calculati
Slide 9: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values 9
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 June 30, 2023. Such preliminary data should not be viewed as a comprehensive sta
Slide 11: 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 June 30, 2023. Such preliminary data should not be viewed as a co
Slide 12: Ranpak
Ranpak Deliver a Better World”