Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q2 2025 Earnings Presentation
12 slides from Ranpak's earnings presentation, Aug 5, 2025
Slide 1: 2Q25 Earnings Presentation
2Q25 Earnings Presentation August 5, 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 June 30, 2025. Such preliminary data should not be viewed as a comprehensive statement of our financial results for the quarter ended June 30,
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 Second Quarter Performance Commentary
Ranpak Second Quarter Performance Commentary Strong volume growth in North America driving top-line growth 5.2% higher volumes drove 3.8% increase in net sales on a constant currency basis vs. prior year and includes a 1.3% non-cash reduction for warrants (increased 6.8% on an actual basis) Void-fil
Slide 5: Revenue
Revenue System Installed Base (‘000s) Net Revenue(1) $ in millions Constant Currency (Non- North America 2.7% Increase in System GAAP) % Change(1) Installed Base 3.8% • Enterprise e-commerce accounts drove 14.8% volume growth in the region while distribution channel was less robust amid market uncer
Slide 6: Profitability
Profitability Adjusted EBITDA(1) Adj. EBITDA down 18.4% on a constant currency (non- Decrease of 12.2% at Constant Currency (Non-GAAP) % GAAP) % change(2) basis and down 12.2% excluding the $ in millions Change(2), excluding the impact impact from warrants (down 15.8% vs 2Q24 on actual of warrants b
Slide 7: Year-to-Date Net Revenue and Adjusted EBITDA
Year-to-Date Net Revenue Year-to-Date Adjusted EBITDA(1) $ in millions $ in millions Constant Currency Constant Currency (Non-GAAP) % (Non-GAAP) % Change(1) Change(1) 6.3% (13.4)% Note: Figures based on unaudited internal company financial statements (1) Constant Currency (Non-GAAP) % Change and Adj
Slide 8: 2025 Guidance
2025 Guidance 2025 Guidance Updating guidance to reflect start to the year, latest outlook, and movement in currency Updated Guidance: 2H at 1.15 EUR/USD* 1H Actuals Low High Mid FY 2025 Forecast incorporates: Revenue $ 183.5 $ 216.0 $ 230.0 $ 223.0 $ 406.5 • Slightly improving operating environment
Slide 9: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 2Q25 with a solid liquidity position - cash balance of $49.2 million and no drawings on its Revolving Credit Facility • Built paper inventory in first half. Expect to turn to cash in 2H25 and increase cash balance remainder of the year • Net Leverage R
Slide 10: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Net product revenue $ 77.8 $ 72.8 $ 155.4 $ 145.3 Machine lease revenue 14.5 13.6 28.1 26.4 Net revenue 92.3 86.4 183.5 171.7 Cost of product sales 56.
Slide 11: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics $ in millions Three Months Ended June 30, Constant Six Months Ended June 30, Constant Currency (Non- Currency (Non- GAAP) % GAAP) % 2025 2024 $ Change % Change Change (6) 2025 2024 $ Change % Change Change (6) Net (loss) income (7.5) 5.5 (13.0) (236.4) (236.4) (18.
Slide 12: Ranpak
Ranpak Deliver a Better World”