Third Quarter Fiscal 2023 Earnings Conference Call
August 31, 2023
Safe Harbor
August 31, 2023
P.2
Pursuing our Purpose, Vision and Build to Last Strategy
OUR PURPOSE We create packaging solutions for life's essentials
OUR VISION Be the best performing customer service company in the world
OUR STRATEGY
MISSIONS
CREATING
DELIVERING
PROTECTING
ENSURING
LEGENDARY
THRIVING COMMUNITIES
OUR FUTURE
FINANCIAL STRENGTH
CUSTOMER SERVICE
HOW WE WORK Pursuing excellence leveraging the Greif Business System (GBS 2.0)
THE GREIF WAY
People Focused | Zero Harm | Servant Leadership | Customer Driven | Action Bias
PRINCIPLES
August 31, 2023
P.3
Third Quarter Fiscal Year (FY) 2023 Key Highlights
Continued strong performance and execution consistency in Q3 2023
Adj. EBITDA1 of $226.5M
Adj. Free Cash Flow1 of $167.1M
Adj. Class A EPS1 of $1.75/share
Driving our Build to Last Strategy in a tough operating environment
Weathered demand headwinds by maintaining strict cost focus across our businesses, leading to continued margin strength
Delivered exceptional Adj. Free Cash Flow conversion in the quarter, driven by strong EBITDA and continued focus on working capital
Announced acquisition of 51% ownership interest in ColePak Inc., adding a compelling high margin, high growth converting capability to our paper network
Announced increase to our quarterly recurring dividend, reaffirming our commitment to return capital to shareholders
Maintained solid balance sheet, exiting the quarter with a leverage ratio2 of 2.17x, near the low end of our targeted range
A summary of all adjustments that are included in Adjusted EBITDA, Adjusted Class A EPS, and Adjusted Free Cash Flow is set forth in the appendix of this presentation.
A summary calculation of leverage ratio as defined under the Credit Agreement is set forth in the appendix of this presentation.
August 31, 2023
P.4
Driving Value-Accretive Growth through M&A
Announcing new Joint-Venture with 51% ownership in ColePak Inc., a leader in niche North American partitions market
Manufacturer of bulk and specialty partitions made from both containerboard (CB) and uncoated recycled board (URB) serving a broad range of applications in food, beverage, and other markets
Adds a new, margin-accretive converting capability to the Greif paper packaging business
Provides incremental mill integration benefits to both CB and URB networks with stable end market demand from food and beverage end markets
Robust organic growth path and ability to scale
Family business with a strong cultural alignment with Greif
#2
25,000
Leader in North American Partitions
Tons per annum of CB/URB consumed
August 31, 2023
P.5
Attachments
Original Link
Original Document
Permalink
Disclaimer
Greif Inc. published this content on 30 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2023 20:25:14 UTC.
Greif, Inc. is engaged in industrial packaging products and services. The Company principally manufactures rigid industrial packaging products, such as steel, fiber and plastic drums, rigid intermediate bulk containers, jerrycans and other small plastics, closure systems for industrial packaging products, transit protection products, water bottles and remanufactured and reconditioned industrial containers, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services. The Company produces and sells containerboard, corrugated sheets, corrugated containers and other corrugated products to customers in North America in industries, such as packaging, automotive, food and building products. The Company also produces and sells coated recycled paperboard and uncoated recycled paperboard, some of which are used to produce and sell industrial products (tubes and cores, construction products and protective packaging).
GREIF, INC. 
