Q4 2025 Ranpak Holdings Corp Earnings Call Transcript
Key Points
- Ranpak Holdings Corp (PACK) experienced volume growth across all geographies, with North America showing a 5.5% increase in the quarter and 14.3% for the year.
- Automation was a significant growth area, achieving nearly 40% growth on a constant currency basis and entering 2026 with a strong order book.
- The company strengthened economic relationships with major e-commerce and retail leaders, which are expected to drive substantial growth in the protective and automation business.
- Ranpak Holdings Corp (PACK) is well-positioned to lead in the evolving landscape of AI and robotics, providing end-to-end solutions for goods movement and AI-driven insights.
- The company reported a strong liquidity position with a cash balance of $63 million and no drawings on its revolving credit facility, aiming to reduce net leverage to between 2.5 and 3 times over the next 18 to 24 months.
- Ranpak Holdings Corp (PACK) missed the top line slightly due to a challenging environment in Europe and some automation project milestones being pushed into Q1.
- Adjusted EBITDA declined 10.3% for the quarter on a constant currency basis, or 1.2% excluding the impact of warrants.
- The European market faced a revenue decrease of 1.5% year-over-year on a constant currency basis due to less favorable mix and increased rebate activity.
- Gross profit declined 16% on a constant currency basis in the quarter, impacted by the mix of increased contribution from North America large e-commerce customers and lower industrial activity.
- The company faces uncertainties due to recent geopolitical events in the Middle East, which could impact sentiment and economic conditions in Europe.
Good morning, welcome to the Ranpak Holdings fourth-quarter 2025 earnings call. (Operator Instructions) As a reminder, this conference call is being recorded.
I would now like to turn the call over to Sara Horvath, General Counsel. Please go ahead.
Thank you, and good morning, everyone. Before we begin, I'd like to remind you that we will discuss forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those forward-looking statements as a result of various factors, including those discussed in our press release and the risk factors identified in our Form 10-K and our other filings filed with the SEC.
Some of the statements and responses to your questions in this conference call may include forward-looking statements that are subject to future events and uncertainties that could cause our actual results to differ materially from these statements. Ranpak assumes no obligation and does not intend to update any
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