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Dec 31, 2021
Ranpak Q4 2021 Earnings Report
Reported strong Q4 results driven by top-line growth and increased profitability.
Key Takeaways
Ranpak Holdings Corp. reported a strong fourth quarter with net revenue increasing by 21.3% year over year on a constant currency basis to $109.4 million. Adjusted EBITDA increased by 8.2% on a constant currency basis to $35.7 million, resulting in a margin of 32.6%. The company's performance reflects strong industrial activity, consumption trends, and a growing focus on sustainability in supply chains.
Packaging systems placement increased 13.5% year over year.
Net revenue increased 18.7% and 21.3% adjusting for constant currency.
Net loss decreased to $2.5 million compared to a net loss of $5.2 million.
Adjusted EBITDA increased 8.2% to $35.7 million on a constant currency basis.
Revenue by Segment
Forward Guidance
Ranpak forecasts net revenue growth in the area of 13% – 18% and AEBITDA growth of 9% – 12% on a constant currency basis for 2022. This translates to a range of $425 – $445 million in constant currency net revenue and $128 – $132 million for AEBITDA.
Positive Outlook
- Continued elevated demand for our products.
- Pricing actions flowing through.
- Strong top-line growth.
- Significant portion of strong cash generation for the year will be reinvested in real estate, automation, and technology infrastructure.
- Exceptional opportunity to expand Ranpak.
Challenges Ahead
- Continued investment in growth areas such as Automation.
- Some input cost pressure expected early in the year before additional pricing actions take effect.
- Unable to forecast with reasonable certainty the associated currency impact.
- Unable to forecast with reasonable certainty several items necessary to calculate such comparable GAAP measure, including asset impairments, integration related expenses, reorganizations and discontinued operations related expenses, legal settlement costs, as well as other unusual or non-recurring gains or losses.
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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