Ranpak Holdings sees FY23 revenue $365M – $385M, consensus $359.8M

"Overall as we think about our future, our primary structural tailwinds of e-Commerce, Automation, and Sustainability continue to be extremely attractive places to be long term. In 2023 we are focused on resuming volume growth in PPS through increased penetration and new product innovation, with upcoming new launches in Wrapping, Void-fill, and Cold-Chain solutions. We also expect a greater contribution from Automation as both of our manufacturing facilities will be open in the second half of the year. On a constant currency basis, we are forecasting net revenue growth in the area of 6% – 12% and AEBITDA growth of 14% – 28%, which results in a range of $365 – $385 million in constant currency net revenue and $76 – $86 million for AEBITDA. We expect the second half of the year to be a bigger contributor to the overall top-line as new product launches hit and we resume a slightly improved operating environment. The top-line growth combined with our input cost savings are the primary driver of the AEBITDA outperformance as we benefit from the positive operating leverage on our G&A from greater volumes and higher gross margins," noted the company in a statement.