Ranpak (US:PACK)2021-03-04 15:13Financial Performance - Ranpak's net revenue increased by 139% on a constant currency basis, reaching $902 million in 4Q20 compared to $792 million in 4Q19[7] - Adjusted EBITDA increased by 146% year-over-year to $330 million in 4Q20, with a 366% margin, up from $288 million in 4Q19[7] - The company finished 4Q20 with a strong cash position of $485 million and full availability on its revolver[7] - The company's 2021 guidance projects constant currency adjusted net revenue of $329 million to $338 million, representing a 10%-13% increase, and adjusted EBITDA of $101 million to $103 million, an 8%-10% increase[27] Market Trends and Growth - Machine placement increased by 122% year-over-year, exceeding 117000 units[7] - E-commerce thrived, with 67% of Americans planning to do more online shopping in 2021 than in 2020[8] - 46% of Americans plan to order more food online for delivery in 2021[8] - A survey indicated that a significant percentage of customers wish more brands used paper instead of plastic for in-the-box packaging[8] Regional Performance - North America experienced growth, driven by wrapping solutions and sequential improvement in industrial end markets[11] - Europe/APAC saw meaningful year-over-year growth across all product lines, with void-fill being the largest contributor[11] Capital Structure - As of December 31, 2020, the company had $271 million in U S dollar denominated and €1383 million in Euro denominated First Lien Term Loan facilities outstanding[24]