Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q2 2022 Earnings Presentation
10 slides from Ranpak's earnings presentation, Jul 28, 2022
Slide 1: 2Q22 Earnings Presentation
OUR PROMISE TO A SUSTAINABLE FUTURE 2Q22 Earnings Presentation July 28, 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 Second Quarter Performance Commentary
Ranpak Second Quarter Performance Commentary Macro headwinds weighing on results. Actions have been taken to reduce costs to better insulate Ranpak in current challenging environment. Focus on new business activity to offset lower utilization of existing fleet • Constant currency top-line growth in
Slide 4: Growth
System Installed Growth Base (‘000s) Constant Currency Net Revenue(1) $ in millions 140 10.4% $100 4.0% North America 22% • Results driven by roughly flat PPS top-line and 120 lower Automation activity in the region compared $80 to a year ago 100 • PPS driven by growth in Cushioning as industrial pl
Slide 5: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) 35% (28.9%) CC Adj. EBITDA down 28.9% vs 2Q21 30% • Gross profit down 14.4% driven by: 29.3% • Increased material cost impacting price / cost 25% • Pricing actions taken in the quarter to improve positioning but expect margins to be un
Slide 6: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 2Q22 with a solid balance sheet and liquidity position - cash balance of $59 million and no drawings on its Revolving Credit Facility • As of June 30, 2022 the Company had First Lien Term Loan facilities outstanding consisting of two term loans: • $250
Slide 7: 2022 Guidance
2022 Guidance Lowering estimates to reflect current and expected operating environment Expect macro headwinds to persist and 2022 Guidance worsen, contributing to a more significant decline in volumes than Constant Currency Adjusted Net Revenue: $360 to $375 million (- previously anticipated 1% to -
Slide 8: 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, 2022 2021 2022 2021 Paper revenue $ 70.2 $ 73.5 $ 136.4 $ 148.3 Machine lease revenue 12.5 12.4 24.7 23.2 Other revenue 4.1 4.1 8.2 6.2 Net revenue 86.8 90.0 169.3 177.7 C
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 June 30, 2022. Such preliminary data should not be viewed as a comprehensive sta
Slide 10: Ranpak years
Ranpak 50 years Deliver a Better World”