Ranpak Q2 2021 Earnings Report
Key Takeaways
Ranpak Holdings Corp. reported a strong second quarter in 2021, with net revenue increasing by 36.2% year-over-year to $90.0 million. Adjusted EBITDA also grew significantly, up 34.7% on a constant currency basis to $25.6 million. The company experienced robust demand for all protective packaging products, driven by e-commerce activity and a growing focus on sustainability.
Packaging system placements increased by 12.9% year-over-year, reaching approximately 123,600 machines as of June 30, 2021.
Net revenue increased by 36.2%, or 29.1% on a constant currency basis, reaching $90.0 million.
The company experienced a net loss of $5.2 million, an improvement compared to the net loss of $8.5 million in the same quarter of the previous year.
Adjusted EBITDA increased by 34.7% to $25.6 million for the quarter ended June 30, 2021.
Ranpak
Ranpak
Ranpak Revenue by Segment
Forward Guidance
Ranpak anticipates continued strong growth in 2021, surpassing initial expectations due to increased demand and strength in end markets, despite challenging second-half comparisons from a robust 2020 performance.
Positive Outlook
- Expects to continue to deliver strong growth in 2021.
- Anticipates finishing with a record year.
- Benefiting from e-Commerce growth.
- Increased automation adoption.
- Growing consumer awareness of plastic and foam in supply chains.
Challenges Ahead
- Challenging second half comparisons due to robust 2020 performance.
- Potential inability to secure sufficient paper supply.
- Impact of kraft paper prices on results of operations.
- Reliance on third-party suppliers.
- COVID-19 pandemic and associated response.
Revenue & Expenses
Visualization of income flow from segment revenue to net income