The following is a summary of the Ranpak Holdings Corp. (PACK) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Ranpak Holdings reported a 5.9% year-over-year increase in net revenue on a constant currency basis for Q2 2024.

• Adjusted EBITDA increased 7.4% year-over-year to $20.4 million.

• Gross profit increased 5.4% on a constant currency basis, with a margin of 36.8%.

Business Progress:

• Accelerated transition from plastic to paper packaging, driven by strategic account activity, particularly in North America.

• Machine placement increased by 0.4% year-over-year to approximately 141,000 units.

• Launch of Malaysia production facility anticipated in August 2024 to serve the Asia Pacific market, expected to enhance local sourcing and reduce costs.

Opportunities:

• The shift from plastic to paper packaging in response to environmental concerns and customer preferences is expected to open new market opportunities.

• Increased strategic account activity, including significant new wins, is positioned to drive further growth.

Risks:

• Pricing headwinds and lower activity levels in the European market may impact revenue.

• Potential input cost pressures in the second half of the year could affect profitability.

More details: Ranpak Holdings IR

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