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Ranpak Holdings Corp. reports developments in paper-based product protection and end-of-line automation systems for e-commerce and industrial supply chains. The company sells protective packaging systems, paper consumables and automation solutions through direct customer relationships and distributor channels, with operating activity reported across North America and Europe/Asia.
Recurring news includes quarterly financial results, Protective Packaging Solutions system placement and volume trends, automation revenue, regional demand commentary, customer deployments and product launches such as FillPak® Mini. Company updates also cover partnerships involving packaging automation, the shift from plastic to paper packaging, and conference calls tied to financial reporting.
Ranpak Holdings Corp (NYSE: PACK) has launched the PadPak® Auto-Coiler, a new on-demand paper-based cushioning solution for heavy items. Designed to replace plastic and foam, this innovative technology enhances protection for products exceeding hundreds of pounds. The Auto-Coiler increases shock absorption with customizable options for various industries, including manufacturing and automotive. CEO Omar Asali emphasized the dual benefits of sustainability and profitability, aiming to assist manufacturers in meeting shipping and environmental goals. This launch strengthens Ranpak's position in sustainable packaging.
Ranpak Holdings Corp (NYSE: PACK) has achieved Chain of Custody certification from the Forest Stewardship Council® (FSC) for all its European manufacturing facilities. This certification ensures that packaging products for Europe, the Middle East, and Asia-Pacific markets will now be FSC certified. This move aligns with Ranpak's commitment to sustainability, allowing customers to use paper-based packaging sourced from responsibly managed forests. The announcement highlights an increased focus on reducing plastic use and improving environmental impact, reinforcing the company's mission to 'Deliver a Better World™.'
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Ranpak Holdings Corp. (NYSE: PACK) reported robust financial results for Q4 2020, with net revenue reaching $90.2 million, marking a 13.9% increase year-over-year. AEBITDA rose to $33.0 million, up 14.6% from the previous year, indicating strong operational leverage. Key drivers included heightened e-commerce demand and improved industrial activity, particularly in Europe/Asia, where revenue surged 39.4%. However, the company experienced a net loss of $5.2 million during the quarter, attributed to a decline in automation revenues in North America.
Ranpak Holdings Corp. (NYSE: PACK) will announce its fourth quarter and full year 2020 results on March 4, 2021, at 7:30 a.m. ET. Following the announcement, a conference call and webcast will take place at 8:30 a.m. ET. Investors can access the webcast live through the provided link or join via phone. A telephonic replay will be available from 11:30 a.m. ET on the same day until 11:59 p.m. ET on March 11, 2021.
Ranpak, founded in 1972, specializes in environmentally responsible packaging solutions and is headquartered in Ohio.
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Ranpak Holdings Corp (NYSE: PACK) reported Q3 2020 net revenue of $76.1 million, an 8.1% increase year-over-year on a constant currency basis. Adjusted EBITDA rose 7.7% to $23.7 million, mainly driven by higher sales and lower costs. Despite rising revenues, the company reported a net loss of $6.1 million, worsening from a loss of $1.6 million in Q3 2019. Notably, packaging systems placement increased 10.6% to 113,100 machines. The company's balance sheet remains robust with a cash balance of $31.3 million and no borrowings on its $45 million revolving credit facility.
Ranpak Holdings Corp. (NYSE: PACK) has appointed Pamela El to its board of directors, effective November 5, 2020. El, formerly the Global Chief Marketing Officer of the NBA and WNBA, brings extensive expertise in brand management and marketing strategies. Chairman and CEO Omar Asali expressed optimism about El’s strategic insights, which align with Ranpak’s commitment to sustainable packaging solutions. El stated her enthusiasm for joining a company dedicated to reducing reliance on plastic in global supply chains.