Americold Realty Trust, Inc. · NYSE:COLD
Americold Realty Trust — Q1 2025 Earnings Presentation
31 slides from Americold Realty Trust's earnings presentation, May 8, 2025
Slide 1: Unlocking Growth through our Infrastructure, Expertise and Partnerships
Unlocking Growth through our Infrastructure, Expertise and Partnerships Corporate Deck | May 8, 2025
Slide 2: Disclaimer
Disclaimer This presentation contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of our future financial and operating performance and growth plans, taking into account
Slide 3: Americold – A Compelling Growth Opportunity
Americold – A Compelling Growth Opportunity 1 Global leader in the attractive cold 2 Unique value proposition with storage industry with an integrated unparalleled expertise, network of high-quality, strategically partnerships with industry experts, located mission-critical warehouses scalable infra
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Slide 5: Significant Scale & Expertise from 120+ Years of Experience
Significant Scale & Expertise from 120+ Years of Experience Significant Scale Global Footprint Cubic Feet / Warehouse Count North Europe ~1.4B America ~5.5M 238 1225M / 192 115M / 25 Cubic Feet of Total Capacity Pallet Positions Warehouses South Asia America Pacific Connectivity ~14,000 ~3,100 10M/
Slide 6: Financial Highlights
Financial Highlights Financial Performance Total Segment Contribution NOI $9.9B Total Enterprise Value (1) +34% growth $6.2B Equity Market Cap (1) $696M $771M $847M $842M $630M 1Q25 Total Same Store Revenue/ 2021 2022 2023 2024 LTM Q1 (1.4)% / (3.4)% Same Store NOI Change (2) 2025 Adjusted FFO $632M
Slide 7: Serving Customers with a Proven End-to-End Operating Model
• Focus on designing Solutions that Fit our Customers' Needs • In-house Design Engineering Team DESIGN • Industry leading experience designing facilities to support every type of Food Producer and Distributor Serving • Deep experience building Automated and Customers with a Conventional Warehouses f
Slide 8: Americold is Essential to the “Farm to Fork” Cold Chain
Americold is Essential to the “Farm to Fork” Cold Chain Restaurant Government Hotel School Sports Hospital Food Service Farm Distribution Center Supermarket Production Distribution Advantaged Center / Warehouse Public Consumers Warehouse Retail Food Distribution Center Producer e-Commerce Enhanced w
Slide 9: Deep Customer Relationships Drive Growth Opportunities
Deep Customer Relationships Drive Growth Opportunities Compelling Value Proposition Top 25 Customers ~52% of Warehouse revenues(1) Continuous commitment to best-in- ~37 years average tenure class customer experience 100% use multiple facilities, average of 17 sites Broad and strategically-located ne
Slide 10: New Management Team Committed to Increasing Shareholder Value
George F. Chappelle Jr. Jay Wells Robert Chambers Chief Executive Officer Chief Financial Officer President, Americas COLD: Joined 2021/Appointed 2022 COLD: Joined & Appointed 2024 COLD: Joined 2013/Appointed 2024 ~41 years experience ~40 years experience ~20 years experience New Management Team Com
Slide 11: Significant Growth Over the Past 3 Years
Significant Growth Over the Past 3 Years AFFO (in millions) 40% AFFO $420M $411M Growth $352M $299M $300M $1.35 $1.47 $1.44 $1.11 $1.14 $1.27 $1.27 $1.47 $1.15 $1.11 2021 2022 2023 2024 LTM Q1 2025 George F. Chappelle Jr. appointed • Refocus on 4 key strategic priorities: • Announced strategic partn
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Slide 13: Unique Value Proposition Driven by Unparalleled Expertise and Scalable Infrastructure
Scalable Infrastructure Conventional & Automated capabilities at all nodes of the supply chain Strategic Partnerships Unique Value Proposition providing unique growth opportunities Driven by Unparalleled exclusive to Americold Expertise and Scalable Infrastructure Advanced Operating System ensures b
Slide 14: Scalable Infrastructure with Access to All Major U.S. Markets
Scalable Infrastructure with Access to All Major U.S. Markets 82% owned network of high- quality, strategically located warehouses Mix of conventional and automated solutions to efficiently meet customer needs on every node of the cold storage chain Typical delivery in 2 days or less with ability to
Slide 15: Americold’s Critical Infrastructure at Every Node
Americold’s Critical Infrastructure at Every Node PRODUCTION MAJOR MARKET RETAIL STORE PORTS ADVANTAGED DISTRIBUTION DISTRIBUTION Storage/VAS for food Storage/VAS for food Storage/VAS for food close Storage/VAS and store close to production close to ports to consumption (demand) support for Retail G
Slide 16: Core Operating Expertise Enhanced by Best-in-Class Partnerships
Core Operating Expertise Enhanced by Best-in-Class Partnerships Operational Partners Partner Since Top five global port operator One of NA’s largest railroad companies 2022 2023 • CPKC – First-of-its-kind rail-attached facility supporting the closed loop cold chain service between Mexico and US util
Slide 17: Active Expansion & Developments
Active Expansion & Developments ~$1B ~$500M ~$200M 10-12% Development pipeline in current projects in projects from ROIC on underwritten strategic partnerships projects Estimated Estimated Facility Type Project Deliveries Completed Completion Stabilization (by pallet positions) 14% Conventional Dist
Slide 18: Advanced Operating Systems and Warehouse Management Expertise
Advanced Operating Systems and Warehouse Management Expertise Customer Focus AOS distinguishes us from our competitors and is Advanced Integrated Systems central to our continuous improvement culture Labor Continuous • Delivering standardized procedures Optimization Improvement • Driving collaborati
Slide 19: Technology Differentiation: Improving Efficiency and Lowering Cost
Technology Differentiation: Improving Efficiency and Lowering Cost • Warehouse management system (WMS) provides visibility to ensure orders delivered on-time and in-full (OTIF) Project Orion • Labor management system (LMS) 415+ Identified ERP optimizes workforce and delivers high Gen AI Use service
Slide 20: Growth Drivers
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Slide 21: Long-Term Industry Fundamentals Driving Resilient Growth
Long-Term Industry Fundamentals Key Trends in the Driving Resilient Growth Cold Storage Space Projected Annual NOI Growth (Next 5 years) • Changing consumption patterns towards meal kits and fresh and healthy food • Rising e-commerce and online grocery demand driving need for efficient delivery syst
Slide 22: A Global Leader in a Highly Fragmented Market
Cold Storage Industry Market Share North American Market Global Market Rest of the AAGlobal Global Market², 43% Rest of the Market², Leader Leaderinin 78% Temperature- Highly Controlled Fragmented Americold, 18% Americold¹, 6% Warehousing Market 1,233M cubic feet 1,434M cubic feet1 194 facilities 23
Slide 23: Focused Strategy to Capture the Multiple Growth Drivers
Focused Strategy to Capture the Multiple Growth Drivers Our Solutions Operational Capabilities Commitments That Fit Needs Excellence Leadership Commercial Excellence Provider of Choice Employer of Choice Technology Enablement • Expand wallet share and • Continuous improvements in • Attract, develop
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Slide 25: Strong Same-Store Warehouse Revenue and NOI Growth
Strong Same-Store Warehouse Revenue and NOI Growth • Significant improvement in transitioning from Same-Store Warehouse services Same-Store Rent & storage on demand contracts to fixed storage committed contracts and leases Same-Store Warehouse Revenue • Fixed storage contracts for the total +60% war
Slide 26: Strong EBITDA Margins Supported by Ongoing Efficiency Initiatives
Strong EBITDA Margins Supported by Ongoing Efficiency Initiatives • Effectively optimizing margins across all business areas Core EBITDA ($M) and Margin (%) • Creating a solid foundation with 34% efforts over the past three years to growth build a productive, stabilized $634M $626M workforce support
Slide 27: Significant Financial Flexibility to Support Growth
Significant Financial Flexibility to Support Growth 1 • BBB - Fitch Investment • BBB - DBRS Morningstar Grade Ratings • Baa3 - Moody’s 2 • $651M(1) in Total Available Liquidity Substantial • $612M(1) Undrawn Credit Facility Liquidity Position • Multi-Currency Availability • Net Debt to Pro Forma Cor
Slide 28: Disciplined Capital Allocation Strategy Focused on Driving Growth and Generating Shareholder Value
Disciplined Capital Allocation Strategy Focused on Driving Growth and Generating Shareholder Value 1 2 3 4 Organic Reinvestment Opportunistic and Maintain Healthy Returning Capital in the Business Disciplined M&A Balance Sheet to Shareholders • $80M+ of annual • Growth and expansion • Maintain Inves
Slide 29: Commitment to Environmental, Social and Governance Initiatives
Commitment to Environmental, Social and Governance Initiatives • Recognized under the Global Cold Chain Alliance’s (GCCA) Energy Excellence Recognition Commitment to Program with Gold, Silver or Bronze certifications at 213 facilities Energy Excellence • 9.48% reduction in Scope 1 and 2 emissions fr
Slide 30: Continued Financial Growth Projected in 2025
Continued Financial Growth Projected in 2025 May 8, 2025 Warehouse segment same store revenue growth (constant currency) 0.0%-2.0% 100 bps higher than Warehouse segment same store NOI growth (constant currency) associated revenues Warehouse segment non-same store NOI $7M-$13M Transportation and Mana
Slide 31: Americold – A Compelling Growth Opportunity
Americold – A Compelling Growth Opportunity 1 Global leader in the attractive cold 2 Unique value proposition with storage industry with an integrated unparalleled expertise, network of high-quality, strategically partnerships with industry experts, located mission-critical warehouses scalable infra
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