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US-based sustainable packaging provider Ranpak has reported net revenue of $105m for the fourth quarter (Q4) of fiscal year 2024 (FY24), an increase of 16% compared to $90.4m in the fourth quarter of 2023.<\/p>\n
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The company attributed the increase to an increase in void-fill, wrapping, and other sales, partially offset by a decrease in cushioning sales.<\/p>\n
For the fourth quarter ended 31 December 2024, the company posted a net loss of $8m compared to a net loss of $9.3m for the prior year\u2019s period.<\/p>\n
Its adjusted earnings before interest, taxes, depreciation, and amortisation (AEBITDA) in the latest quarter was $25.3m which is up by 8%, or $1.8m, year over year, and also up 8% on a constant currency basis.<\/p>\n
The company\u2019s net revenue increased by 10% in the year to $369m in FY24.<\/p>\n
It posted a net loss of $18.7m compared to a net loss of $27.1m for the prior year period.<\/p>\n
For the year ended 31 December 2024, the company\u2019s AEBITDA increased by 14% to $83.8m, which is an increase of 14% on a constant currency basis<\/p>\n
Ranpak chair and CEO Omar Asali said: \u201cWe are pleased to finish 2024 on a really positive note with the fourth quarter delivering double-digit volume and top-line growth.<\/p>\n
\u201cVolume growth of 12% and 16% net revenue growth across the organisation was driven by North American e-commerce activity which experienced a strong holiday season overall as well as the impact of plastic to paper shift among strategic accounts.<\/p>\n
\u201cThe strategic account activity foundation we had been building and discussing for the past couple of years drove strong results in 2024 in a challenging environment and provides Ranpak with an excellent springboard going into 2025.\u201d<\/p>\n
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