Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q4 2024 Earnings Presentation
12 slides from Ranpak's earnings presentation, Mar 6, 2025
Slide 1: 4Q24 Earnings Presentation
4Q24 Earnings Presentation March 6, 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 and year ended December 31, 2024. Such preliminary data should not be viewed as a comprehensive statement of our financial results for the quarter e
Slide 3: Ranpak Fourth Quarter Performance Commentary
(1) Ranpak Fourth Quarter Performance Commentary Strong growth in North American volume and Automation revenue drove top-line Higher volumes drove 17% increase in sales on constant currency basis vs. prior year (increased 16% on an actual basis) Large e-Commerce accounts driving growth while industr
Slide 4: Revenue
Revenue System Installed Base (‘000s) Net Revenue Constant Currency (Non- North America GAAP) % Change(1) 1.1% 17% • Enterprise e-Commerce accounts delivering strong top-line results 150 $ in millions 100 • 39% volume growth as plastic to paper (0.4)% conversion and a strong holiday season resulted
Slide 5: Profitability
Profitability Adjusted EBITDA(1) $ in millions Adj. EBITDA up 7.7% vs 4Q23 30.0% 30 • Gross profit up 22% on constant currency basis driven by: 7.7% 25 ◦ e-Commerce volume growth in North America 28.0% ◦ Lower depreciation due to acquisition 20 asset life cycle ending 26.0% ◦ Input cost slight headw
Slide 6: Full Year Net Revenue and Adjusted EBITDA
Full Year Net Revenue Adjusted EBITDA(1) $ in millions $ in millions Constant Currency Constant Currency (Non-GAAP) % (Non-GAAP) % Change(1) Change(1) 9.7% 14.3% 400 90 25.0% 350 75 22.7% 300 22.5% 21.8% 60 250 200 20.0% 45 $368.9 $83.8 $336.3 $73.4 150 30 17.5% 100 15 50 15.0% 0 FY23 FY24 FY23 FY24
Slide 7: 2025 Guidance
2025 Guidance Top line expectations include: • Normalizing operating environment 2025 Guidance in e-Commerce • Continued lackluster industrial activity Constant Currency Adjusted Net Revenue Growth: +5% - 11% $387 - $409 million at $1.0822 / EUR estimated rate • Automation growth of 50%+ Constant Cu
Slide 8: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 4Q24 with a solid liquidity position - cash balance of $76.1 million and no drawings on its Revolving Credit Facility • Reported Net Leverage Ratio of 4.0x as of 12/31/24 utilizing $83.8 million Adj EBITDA • As of 12/31/2024 the Company had a new First
Slide 9: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Year Ended December 31, 2024 2023 2022 Net product revenue $ 315.5 $ 284.8 $ 276.4 Machine lease revenue 53.4 51.5 50.1 Net revenue 368.9 336.3 326.5 Cost of product sales 202.9 181.3 192.6 Cost of leased machines 26.2 31.7 3
Slide 10: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics Non-GAAP Measures Constant Currency Three Months Ended December 31, (Non-GAAP) 2024 2023 $ Change % Change % Change(6) Net loss $ (10.8) $ (9.3) $ (1.5) 16.1 17.2 Depreciation and amortization expense – COS 5.7 10.6 (4.9) (46.2) Depreciation and amortization expens
Slide 11: Reconciliation of Non-GAAP metrics
Reconciliation of Non-GAAP metrics Non-GAAP Measures Constant Currency Year Ended December 31, (Non-GAAP) 2024 2023 $ Change % Change % Change(6) Net loss $ (21.5) $ (27.1) $ 5.6 (20.7) (20.3) Depreciation and amortization expense – COS 30.2 35.8 (5.6) (15.6) Depreciation and amortization expense –
Slide 12: Ranpak
Ranpak Deliver a Better World”