Financial Performance - Net revenue for Q1 2025 was $91.2 million, an increase of 6.9% from $85.3 million in Q1 2024[149] - Cost of sales rose to $60.3 million in Q1 2025, up 13.8% from $53.0 million in Q1 2024[149] - Gross profit decreased to $30.9 million, down 4.3% from $32.3 million in Q1 2024[149] - Loss from operations increased to $8.0 million in Q1 2025, a 66.7% decline compared to a loss of $4.8 million in Q1 2024[149] - Net loss for Q1 2025 was $10.9 million, representing a 34.6% increase from a net loss of $8.1 million in Q1 2024[149] - EBITDA for Q1 2025 was $9.7 million, down 37.0% from $15.4 million in Q1 2024[149] - AEBITDA for Q1 2025 was $17.3 million, a decrease of 9.9% from $19.2 million in Q1 2024[149] Revenue Breakdown - Approximately 37% of net revenue in 2024 was generated from e-commerce sectors, indicating a seasonal trend[139] - Cushioning revenue decreased by $7.2 million or 19.3% to $30.1 million, while void-fill revenue increased by $11.0 million or 33.2% to $44.1 million[150] - North America net revenue increased by $10.7 million or 33.5% to $42.6 million, driven by a 66.2% increase in void-fill sales[160] - Europe/Asia net revenue decreased by $4.8 million or 9.0% to $48.6 million, primarily due to a 17.7% decrease in cushioning sales[161] Expenses and Costs - SG&A expenses rose to $28.9 million, an increase of $1.0 million or 3.6% from $27.9 million in Q1 2024, primarily due to higher stock-based compensation and IT maintenance costs[153] - Interest expense increased by $2.5 million or 40.3% to $8.7 million, primarily due to a decrease in interest income from swap agreements[156] - M&A, restructuring, and severance costs increased by 222.2% to $2.9 million in Q1 2025 from $0.9 million in Q1 2024[166] Cash Flow and Debt - Cash and cash equivalents as of March 31, 2025, were $65.5 million, down from $76.1 million at the beginning of the period[168] - Net cash used in operating activities was $1.3 million in Q1 2025, compared to cash provided of $5.2 million in Q1 2024[177] - Total debt as of March 31, 2025, was $414.3 million, slightly down from $415.7 million as of December 31, 2024[170] - Net cash used in investing activities was $7.5 million in Q1 2025, an improvement from $10.3 million in Q1 2024[178] - The company had no borrowings under its $50.0 million revolving credit facility as of March 31, 2025[170] Tax and Future Outlook - Income tax benefit for Q1 2025 was $3.2 million, with an effective tax rate of 22.6%, compared to $1.5 million and 15.8% in Q1 2024[158] - The company expects capital expenditures to increase as it continues to grow and expand its manufacturing footprint[169] - The interest rate for the Term Facility was 8.85% as of March 31, 2025[171] Market Challenges - Inflationary pressures have adversely impacted end-users, leading to challenges in net revenue growth[137] - The company is evaluating alternative suppliers to mitigate the impact of tariffs on capital expenditures[138]

Ranpak (PACK) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Company Participants Sara Horvath - Executive VP, Chief Legal & HR OfficerOmar Asali - Chairman and Chief Executive OfficerWilliam Drew - EVP & CFO Conference Call Participants Danny Eggerichs - Equity Research AnalystNone - Analyst Operator Good morning, and welcome to the Randpak Holdings Corp. First Quarter twenty twenty five Earnings Call. All participants are in a listen only mode. After the speakers' remarks, we will conduct a question and a ...

Ranpak (PACK) Q1 2025 Earnings Call May 06, 2025 08:30 AM ET Speaker0 Good morning, and welcome to the Randpak Holdings Corp. First Quarter twenty twenty five Earnings Call. All participants are in a listen only mode. After the speakers' remarks, we will conduct a question and answer session. As a reminder, this conference call is being recorded. I would now like to turn the call over to Sarah Horvath, General Counsel. Please go ahead. Speaker1 Thank you, and good morning, everyone. Before we begin, I'd lik ...

1Q25 Earnings Presentation May 6, 2025 Disclaimers This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not historical facts are forward-looking statements. Our forward- looking statements include, but are not limited to, statements regarding our or our management team's expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that ...

Exhibit 99.1 Moreover, I am pleased to report our 7 quarter in a row of strong volume growth and increased net revenue. Global volumes grew 12.0% in the quarter and net revenue increased 8.8% on a consolidated basis at constant currency driven by continued strength in North American e-commerce activity, particularly our large enterprise customers that are in the midst of a plastic to paper transition. Our net revenue growth figures reflect the non-cash impact of Amazon warrants which contributed a 0.9% head ...

Revenue Breakdown - Approximately 37% of the company's net revenue is derived from sales to e-commerce end-users, indicating a significant growth opportunity as e-commerce continues to outpace retail sales growth[19] - The company's Void-Fill products generated $167.0 million in revenue in 2024, accounting for 45% of total net revenue[21] - Cushioning products generated $135.7 million in revenue in 2024, representing 37% of total net revenue[23] - Wrapping products generated $37.1 million in revenue in 2024, which accounted for 10% of net revenue[24] - Automation products generated $29.1 million in revenue in 2024, accounting for 8% of total net revenue[29] - Approximately 79% of total net revenue in 2024 was derived from sales to distributors, while direct sales to end-users accounted for 21%[32][33] - Sales to industrial manufacturing end-users accounted for approximately 11% of net revenue in 2024[46] - Sales to automotive after-market end-users represented approximately 8% of net revenue in 2024[47] - Sales to electronics end-users accounted for approximately 7% of net revenue in 2024[48] Installed Base and Market Presence - The installed base of FillPak units was approximately 85,700 as of December 31, 2024, showcasing the widespread adoption of the company's protective systems[21] - The installed base of PadPak units was approximately 34,400 as of December 31, 2024, reflecting strong market presence in cushioning solutions[23] - The installed base of Wrapping units was approximately 22,600 as of December 31, 2024, indicating a solid foothold in the wrapping product segment[24] Sustainability and Environmental Focus - The focus on sustainability and environmentally friendly solutions is expected to be a significant driver of continued growth[19] - The company aims to reduce greenhouse gas emissions by 46% and source at least 75% of its paper supply from recycled pulp by 2030[60] - The company has committed to sourcing an aggregate paper supply consisting of at least 25% post-consumer waste or alternative pulp by 2030, having already met this goal in 2022[56] - In 2024, approximately 62% of the pulp used for global raw paper supply was either recycled Post-Industrial Waste or recycled Post-Consumer Waste, and 92% of the global raw paper supply was FSC-certified[57] - The company has made strategic investments in Recycold and Creapaper to enhance its sustainable packaging solutions[39][40] Innovation and Competitive Advantage - The company holds over 880 U.S. and foreign patents, supporting its innovation and competitive advantage in the market[22] - The company continues to innovate and file numerous patent applications each year to maintain its competitive advantage[63] - The company was recognized in 2024 Packaging Gateway Excellence Awards for innovation, product launches, and environmental categories, highlighting the naturemailer product launch and the Cut'it! EVO Multi-Lid automated box sizing system[58] - The company competes with major manufacturers like Sealed Air and Pregis, focusing on environmentally friendly fiber-based packaging solutions[55] Geographic Expansion and Market Opportunities - The company plans to continue geographic expansion and penetration of existing markets to drive future growth[22] - The APAC region currently represents less than 10% of the company's net revenue in 2024, indicating significant growth opportunities[43] - The global protective packaging industry is fragmented, with market leaders holding a relatively small share, presenting growth opportunities for the company[42] - The company aims to grow its product offerings beyond current PPS systems by expanding Wrapping, Automation, and Consumables into new end-markets[43] Operational Developments - The newly established paper conversion facility in Malaysia became operational in the second half of 2024, aimed at improving service and cost profile in the APAC market[41] - In 2024, the company purchased paper from approximately 27 suppliers, with the largest source providing 73% of North American and 39% of global paper supplies[54] Employee and Corporate Information - As of December 31, 2024, the company had over 800 full-time employees worldwide, with approximately 300 located in the United States[62] - The company maintains a website at www.ranpak.com for investor information and access to financial reports[67] - Annual reports on Form 10-K and quarterly reports on Form 10-Q are available free of charge on the company's website[67] - Current reports on Form 8-K and amendments are also accessible as soon as they are filed with the SEC[67] - The SEC filings can be found on the SEC's website at www.sec.gov[67] - The company publishes important investor information, including analyst and investor presentations, on its website[67] - Information obtained from the company's website is not considered part of the official report[67]

4Q24 Earnings Presentation March 6, 2025 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 ended December 31, 2024 CAUTION ABOUT FORWARD-LOOKING STATEMENTS This presentation contains "forward-looking statements" within the meaning of Section 21E of the Securities ...

Ranpak Holdings Corp. (NYSE:PACK) Q4 2024 Earnings Call March 6, 2025 8:30 AM ET Company Participants Sara Horvath - General Counsel Omar Asali - Chairman and Chief Executive Officer Bill Drew - Chief Financial Officer Conference Call Participants Greg Palm - Craig-Hallum Ghansham Panjabi - Baird Troy Jensen - Cantor Fitzgerald Operator Good morning, and welcome to the Ranpak Holdings Corp. Fourth Quarter 2024 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded. I wo ...

Financial Performance - Net revenue for Q4 2024 increased 16% year over year to $105.0 million, with a 17% increase on a constant currency basis[9] - Adjusted EBITDA (AEBITDA) for Q4 2024 was $25.3 million, up 8% year over year and also up 8% on a constant currency basis[9] - Full year 2024 net revenue reached $369 million, reflecting a 10% increase year over year, with AEBITDA of $83.8 million, up 14%[23] - The company reported a net loss of $8.0 million for Q4 2024, an improvement from a net loss of $9.3 million in the prior year period[9] - Net product revenue for Q4 2024 increased to $91.6 million, up 17.3% from $77.6 million in Q4 2023[28] - Total net revenue for the year ended December 31, 2024, reached $368.9 million, a 9.6% increase compared to $336.3 million in 2023[30] - Gross profit for the year ended December 31, 2024, was $139.8 million, representing a 13.4% increase from $123.3 million in 2023[30] - For the year ended December 31, 2024, the net loss was $18.7 million, a decrease of $8.4 million or 31.0% from a net loss of $27.1 million in 2023[48] - EBITDA for the year 2024 was $70.2 million, an increase of $7.6 million or 12.1% compared to $62.6 million in 2023[48] - AEBITDA for the year 2024 rose to $83.8 million, up $10.4 million or 14.2% from $73.4 million in 2023[48] Forecast and Growth - For 2025, the company forecasts net revenue growth of 5% to 11%, translating to a range of $387 million to $409 million, and AEBITDA growth of 5% to 16%[13] - The company expects to grow volumes in the mid to high single digits in 2025, with Automation projected to grow approximately 50%[14] Cash and Assets - The cash balance at the end of Q4 2024 was $76.1 million, with no borrowings on its $50 million Revolving Credit Facility[18] - Cash and cash equivalents increased to $76.1 million as of December 31, 2024, compared to $62.0 million at the end of 2023[32] - Total current assets rose to $151.2 million in 2024, up from $124.9 million in 2023[32] Operational Metrics - Packaging system placements increased by 1% year over year, totaling approximately 142.7 thousand machines as of December 31, 2024[9] - The installed base of protective packaging systems showed a total increase of 1.1% from 141.2 thousand in 2023 to 142.7 thousand in 2024[19] Loss and Expenses - The company reported a loss from operations of $12.8 million for the year ended December 31, 2024, compared to a loss of $7.5 million in 2023[30] - Interest expense increased to $28.6 million for the year ended December 31, 2024, from $24.3 million in 2023[30] - The interest expense for 2024 was $28.6 million, an increase of $4.3 million or 17.7% from $24.3 million in 2023[48] Currency and Reporting Changes - The company reported a foreign currency gain of $1.6 million in 2024, compared to a gain of $0.3 million in 2023, representing a 433.3% increase[48] - The company plans to change its presentation of supplemental non-GAAP constant currency metrics starting with 2024 results, using the average exchange rate for the comparable period[40] - The constant currency (non-GAAP) % change for Q4 2024 was a decrease of 18.1% compared to the prior year[44]

Financial Data and Key Metrics Changes - Overall net revenue for the company in Q3 increased by 10.5% year-over-year on a constant currency basis, driven by a 14.7% increase in volumes, offset by lower price mix [21][22] - Adjusted EBITDA increased by 13.9% year-over-year to $20.5 million, implying a 21.6% margin [26] - Gross profit increased by 8.6% on a constant currency basis, with a margin of 37.5%, compared to 38.2% in the prior year [25] Business Line Data and Key Metrics Changes - North American net revenue increased by 15.5% year-over-year, with volumes up 26.1%, driven by strength in e-commerce related to plastic to paper switching [22][9] - In Europe and APAC, net revenue on a constant currency basis increased by 7.1% year-over-year, driven by 9% volume growth, offset partially by pricing give back and void-fill mix headwinds [23][24] - Machine placements increased by 1.1% year-over-year to approximately 143,000 machines globally, with cushioning systems increasing by 0.3% and void-fill installed systems increasing by 1.3% [20] Market Data and Key Metrics Changes - North American sales increased by 15.5% on a constant currency basis, while Europe and Asia Pacific activity levels improved sequentially versus the second quarter [9][11] - Geographically, strength was seen in Brazil, the U.K., South Africa, and the Czech Republic, while Poland and Germany were weaker [13] - The European industrial sector remains sluggish, with lower order levels for capital and consumer goods [12] Company Strategy and Development Direction - The company is focused on driving volumes through strategic accounts and automation, with a commitment to maintaining gross margin profiles [32][40] - The sustainability momentum in North America is strong, with expectations to capitalize on the shift from plastic to paper [38] - The Malaysia plant went live in August, providing a lower-cost base to serve the Asia Pacific region and enabling growth [39] Management's Comments on Operating Environment and Future Outlook - The general environment remains somewhat timid globally, with an uneven environment in Europe and Asia Pacific [8] - Management remains confident in guidance for Q4 and believes that the company is well-positioned to drive positive outcomes for the business and shareholders [56][57] - The company is focused on cash generation and deleveraging, with a target of reaching three turns or below in net debt to adjusted EBITDA [30][40] Other Important Information - Capital expenditures for the quarter were $5.6 million, down from just under $10 million per quarter for the first half of the year [28] - The company completed Q3 with a strong liquidity position, including a $69.5 million cash balance and no drawings on the revolving credit facility [30] Q&A Session Summary Question: Why was EBITDA up only slightly despite sales growth? - Management indicated that mix was part of the reason, with growth more in void-fill than in cushioning and wrapping, and that strategic account activity ramped up towards the end of Q2 [42][43] Question: How much of the 26% volume growth in North America was due to new business? - Management clarified that inventory levels were light, and the growth was primarily due to paper consumption rather than customers loading up [46][47] Question: What is the strategy for debt coming due in 2026? - Management emphasized the importance of improving operating momentum to access credit markets effectively [48][49] Question: Any surprises in the quarter? - Management expressed pleasant surprise with the volume and size of accounts being fulfilled, indicating higher than expected demand [52][54] Question: Are there additional accounts ramping up in Q4? - Management stated that the focus is on serving existing accounts during the peak season rather than ramping up new accounts [56][57] Question: Update on automation and its impact on customer acquisition? - Management noted that automation, along with other integrated solutions, is critical for winning large accounts, with bookings up 60% year-over-year [60][62]