Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q1 2022 Earnings Presentation
10 slides from Ranpak's earnings presentation, May 6, 2022
Slide 1: 1Q22 Earnings Presentation
OUR PROMISE TO A SUSTAINABLE FUTURE 1Q22 Earnings Presentation May 6, 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 First Quarter 2022 Performance Commentary
Ranpak First Quarter 2022 Performance Commentary Slow start to the year due to SAP but we saw significant improvement in operating cadence as the quarter progressed Key detractors for the quarter driven by one time event such as SAP Go Live and the abrupt start to the war in Ukraine Performance Indi
Slide 4: Growth
System Installed Constant Currency Growth Base (‘000s) Net Revenue(1) $ in millions 140 11.4% $100 (1.3%) North America 26% • Strong growth in Cushioning and Wrapping 120 • Continued growth in Void-Fill but at lower rate $80 due to less e-Commerce activity 100 Europe / APAC 12% $60 (7)% • Challengin
Slide 5: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) 35% 32.9% (31.8%) CC Adj. EBITDA down 31.8% vs 1Q21 30% • Gross profit down 28.8% driven by: • Lower volumes contributing to unabsorbed overhead 25% • Temporary dislocation in price/cost structure due to increased material and 22.8% pr
Slide 6: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 1Q22 with a strong balance sheet and liquidity position - cash balance of $80 million and no drawings on its Revolving Credit Facility • Sales being back end loaded in the quarter as well as investments in working capital (inventory and cloud based tec
Slide 7: 2022 Guidance
2022 Guidance Adjusting to the new environment • Expect to be at the lower end of 2022 Guidance the range of previous net revenue guidance due to slower Constant Currency Adjusted Net Revenue: $425 to $445 million start due to SAP and macro (+13% to 18%) uncertainty in Europe Prior: Unchanged • Lowe
Slide 8: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Three Months Ended March 31, 2022 2021 Paper revenue $ 66.2 $ 74.8 Machine lease revenue 12.2 10.8 Other revenue 4.1 2.1 Net revenue 82.5 87.7 Cost of goods sold 57.9 51.4 Gross profit 24.6 36.3 Selling, general and administr
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 March 31, 2022. Such preliminary data should not be viewed as a comprehensive st
Slide 10: Ranpak years
Ranpak 50 years Deliver a Better World”