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Ranpak Holdings Corp. (PACK) is a global leader in environmentally sustainable, in-the-box paper protective packaging systems and materials. With its headquarters located in Concord Township, Ohio, Ranpak is dedicated to providing systems-based product protection solutions for e-Commerce and industrial supply chains in North America and Europe.
Founded on the principle of 'random packaging,' Ranpak's offerings are designed to meet a wide array of packaging applications and requirements. The company's customer base spans multiple industries, including industrial, automotive, medical, consumer products, and technology sectors.
Ranpak's core business revolves around its comprehensive suite of protective packaging systems and paper consumables. These solutions are tailored to enhance the optimization, customization, and efficiency of end-of-line automation systems. The company's innovative products include paper void fill, cushioning, and wrapping solutions, all of which are geared towards reducing environmental impact while maintaining high levels of product protection.
In addition to its headquarters, Ranpak operates five manufacturing facilities strategically located in Nevada, North Carolina, Missouri, the Netherlands, and the Czech Republic. This global footprint enables the company to efficiently serve its diverse customer base across various regions.
Ranpak's financial health is reinforced by its robust revenue generation from Europe and Asia, where it derives the majority of its income. The company primarily monetizes by providing its protective packaging systems (PPS) and paper consumables directly to end-users and through a network of exclusive distributors. This business model ensures a steady revenue stream while fostering long-term partnerships with clients.
In recent years, Ranpak has achieved significant milestones, including the expansion of its product portfolio and the strengthening of its market position through strategic partnerships and collaborations. The company's commitment to sustainability and innovation continues to drive its growth and success in the competitive packaging industry.
For the latest updates and news about Ranpak Holdings Corp., visit their official website or follow them on leading financial news platforms.
Ranpak Holdings Corp. (NYSE: PACK) has completed its previously announced refinancing of existing senior secured credit facilities. The company entered into a new First Lien Credit Agreement with UBS AG and other lending institutions, featuring:
- A $410 million U.S. dollar-denominated first lien term facility maturing in December 2031
- A $50 million revolving facility available in U.S. dollars and Euros maturing in December 2029
- Term Facility amortization rate of 1.00% per annum
- Interest rates for Term Facility: SOFR plus 4.50% or base rate plus 3.50%, with potential step-downs based on leverage ratio
- Interest rates for Revolving Facility: SOFR/eurocurrency rate plus 4.00% or base rate plus 3.00%, with potential step-downs
Ranpak Holdings Corp reported third quarter 2024 financial results showing mixed performance. Net revenue increased 11.4% year over year to $92.2 million, driven by a 14.7% volume increase in e-Commerce activity. The company's packaging system placement grew 1.1% to 143.6 thousand machines. While void-fill revenue rose 28.4% to $43.9 million, cushioning decreased 9% to $32.5 million. The company reported a net loss of $8.1 million compared to $3.3 million loss in the prior year. Constant Currency Adjusted EBITDA improved 13.9% to $20.5 million, with gross margins at 37.3%.
Ranpak Holdings Corp (NYSE: PACK) has scheduled its third quarter 2024 earnings release for Thursday, October 31, 2024, at approximately 7:30 a.m. ET. The company will host a conference call and webcast at 8:30 a.m. ET on the same day. Investors can access the webcast through the provided link or join via telephone. A replay will be available from 11:30 a.m. ET on October 31 until 11:59 p.m. ET on November 7, 2024.
Ranpak Holdings Corp. (NYSE: PACK), a leader in eco-friendly paper-based packaging, has won three awards at the 2024 Packaging Gateway Excellence Awards. The company was recognized in the Innovation, Product Launches, and Environmental categories, highlighting its commitment to advancing packaging technology and environmental stewardship.
Ranpak's winning products include:
- The Cut'it!™ EVO Multi-Lid system, which won in the Innovation category for reducing package void and offering customizable, branded lids.
- The naturemailer™ padded mailer system, awarded in the Product Launches category for its fully curbside recyclable design.
- The climaliner plus™ cold chain liner solution, which won in the Environmental category for sustainable packaging.
Ranpak is also a finalist for the 2024 Sustainable Packaging Awards for its FillPak Trident Mini™. These recognitions underscore Ranpak's efforts to develop sustainable packaging solutions that don't compromise on quality or protection.
Ranpak Holdings Corp. (NYSE: PACK) reported solid Q2 2024 financial results, with net revenue increasing 5.5% year-over-year to $86.4 million. The company saw an 8.8% volume increase driven by strategic account activity in North America and 3.2% growth in Europe and APAC. Net income improved to $5.5 million compared to a $2.1 million loss in the prior year period. Constant Currency Adjusted EBITDA rose 7.4% to $20.4 million. Packaging system placement grew 0.4% to approximately 141,200 machines. The company maintained a strong liquidity position with $65.1 million in cash and no borrowings on its $45 million credit facility. Ranpak's focus remains on driving volume growth, deleveraging to 3.0x or below, and generating cash.
Ranpak Holdings Corp. (NYSE: PACK) has announced its plans to release second quarter 2024 results on Thursday, August 1, 2024 at approximately 7:30 a.m. ET. The company will host a conference call and webcast at 8:30 a.m. ET on the same day to discuss the results. Investors can access the webcast live at a provided link or listen to the conference call via telephone by dialing (800) 715-9871 and using the Conference ID: 5813434. A telephonic replay will be available from 11:30 a.m. ET on August 1 until 11:59 p.m. ET on August 8, 2024, accessible by dialing (800) 770-2030 with the passcode: 5813434.
Ranpak Holdings Corp. reported its first quarter 2024 financial results, showing positive growth in revenue and Adjusted EBITDA. Net revenue increased 5.0% year over year to $85.3 million, with a net loss of $8.1 million. Constant currency AEBITDA for the quarter was $20.2 million, up 33.8% year over year. The company highlighted improvements in gross profit, sales volume, and automation. Ranpak remains focused on deleveraging and cash generation in 2024.
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