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Sep 30, 2021
Ranpak Q3 2021 Earnings Report
Ranpak's third quarter results were reported, showing strong revenue growth and increased packaging system placements.
Key Takeaways
Ranpak Holdings Corp. reported a strong third quarter in 2021, with net revenue increasing by 26.4% year-over-year to $97.1 million. The company experienced a net loss of $1.4 million, an improvement compared to the $6.1 million net loss in the same quarter of the previous year. Adjusted EBITDA increased by 20.3% to $28.5 million.
Packaging system placements increased by 14.2% year-over-year, reaching approximately 129,200 machines.
Net revenue increased by 26.4%, or 25.6% on a constant currency basis.
Net loss decreased to $1.4 million from $6.1 million in the prior year.
Adjusted EBITDA increased by 20.3% to $28.5 million.
Revenue by Segment
Forward Guidance
The company expects to finish with a record year, driven by strategic investments in people, systems, automation, and material science, positioning them well for 2022 and beyond.
Positive Outlook
- Strong revenue growth in North America and Europe/APAC.
- Benefit from strong industrial activity and consumption trends.
- Companies integrating sustainability into their packaging decisions.
- Robust growth in profitability as Adjusted EBITDA increased.
- Strong balance sheet provides flexibility and value creation activities.
Challenges Ahead
- Challenging comparison due to exceptional profitability in Q4 2020.
- Potential inability to secure a sufficient supply of paper.
- Impact of kraft paper prices on results of operations.
- Reliance on third-party suppliers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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