Ranpak Holdings Corp · NYSE:PACK
Ranpak — Q4 2021 Earnings Presentation
12 slides from Ranpak's earnings presentation, Feb 25, 2022
Slide 1: Fourth Quarter and Full Year 2021 Earnings Update
Fourth Quarter and Full Year 2021 Earnings Update February 25, 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, statements regarding
Slide 3: Fourth Quarter 2021 Update
Fourth Quarter 2021 Update Top-Line Performance • Excellent finish – Net revenue of $109.4mm increased 21.3% on a constant currency basis compared to net revenue of $90.2mm in 4Q20(1) • Balanced growth across geographies • Machine placement up 13.5% year over year to more than 133,000 Profitability
Slide 4: RecyCold Cool Solutions
RecyCold Cool Solutions RecyCold Cool Packs are made from a drain safe, plant-based gel Expands the diversity of Ranpak’s Cold Chain packaging solutions 4
Slide 5: Growth
System Installed Constant Currency Growth Base (‘000s) Net Revenue(1) $ in millions North America 140 13.5% $120 21.3% • Strong growth in all product categories 30% 120 $100 • Continued strength in e-Commerce activity and industrial end markets 100 Europe / APAC $80 14% 24% • All product lines up me
Slide 6: Profitability
Profitability $ in millions Constant Currency Adjusted EBITDA(1) $40 45% 8.2% CC Adj. EBITDA up 8.2% vs 4Q20 40% • Sales increase driven by higher 36.6% volumes and price somewhat offset by 35% increased input costs and investments 32.6% in personnel 30% • Additional pricing actions announced in 25%
Slide 7: Full Year 2021 Performance
Full Year 2021 Performance Constant Currency Net Revenue(1) Constant Currency Adjusted EBITDA(2) $ in millions $120 35% $400 26.3% 25.7% 31.3% 31.2% $350 30% $100 $300 25% 34% $80 $250 20% $200 $60 $117.8 15% $93.7 $150 $40 10% $100 15% $20 5% $50 $0 $0 0% 2020 2021 2020 2021 North America Europe /
Slide 8: Liquidity and Capitalization
Liquidity and Capitalization • Ranpak completed 4Q21 with a strong balance sheet and liquidity position - cash balance of $103.9 million and no drawings on its Revolving Credit Facility • As of December 31, 2021 the Company had First Lien Term Loan facilities outstanding consisting of two term loans
Slide 9: 2022 Guidance
2022 Guidance Driving growth while investing in the business for the long term 2022 Guidance • Top line expectations driven by continued volume growth and Constant Currency Adjusted Net Revenue: $425 - $445 million pricing actions (+13% - 18%) • Growth in Adj EBITDA reflects investments in key areas
Slide 10: Unaudited GAAP Income Statement Data
Unaudited GAAP Income Statement Data $ in millions except per share values Successor Predecessor Year Ended December 31, June 3, 2019 January 1, 2019 2021 2020 – December 31, 2019 – June 2, 2019 Paper revenue $ 321.4 $ 250.7 $ 136.5 $ 88.8 Machine lease revenue 47.7 39.6 22.5 14.4 Other revenue 14.8
Slide 11: 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 year ended December 31, 2021. Such preliminary data should not be viewed as a comprehensive st
Slide 12: Ranpak
Ranpak Deliver a Better World”