Americold Key Investment Highlights & ESG Initiatives
Organic Growth Initiatives Have Driven Stable Same Store Performance
Historical same store performance is the culmination of active asset management, our integrated network and market position
and the replacement of legacy customer agreements with new contracts implementing our Commercial Business Rules
Same Store Warehouse Revenue Growth
Historically expected to range between 2% - 4% on a constant currency basis (1)
COVID Timeframe
Actual $
Growth %
6.1%
2.9% 1.9% 1.9% 1.3% 4.5% 5.9% 7.1%
8.3%
Total Same Store Warehouse NOI Growth
Historically expected to range 100 - 200 bps higher than associated SS revenue (2)
COVID Timeframe
Actual $
Growth %
9.8% 6.9% 3.9% 5.3%
(4.9%) (4.7%) 1.6% (12.5% 13.1%
10.9%
9.6%
14.4% 15.4%
8.1%
6.0%
9.5%
7.4%
5.1%
5.6%
3.1%
Constant
Currency $
Growth %
Constant
Currency $
5.8%
3.9% 3.5%
Growth %
2.3%
0.3%
2017 2018 2019 2020
2021 1Q22 2Q22 3Q22
4Q22
(3.6%)
(5.8%)
2017
2018 2019 2020 2021 1Q22
2Q22
3Q22
4Q22
4Q 2022 Same Store Portfolio
Same Store NOI Margin
Non-Same
Store
8%
Legacy COLD Same Store
5%
18
11
7171
Acquired Non-Same Store
Legacy/Redevelopment Non-Same Store
65.5% 66.2% 67.0%
66.8% 65.7%
COVID Timeframe
61.9% 61.9%
64.9%
59.2%
SS Rent &
Storage
TOTAL COLD
WAREHOUSE
FACILITIES
237
208
88% Same Store
30.9% 32.1% 32.6% 34.1% 32.6%
28.8% 28.9% 29.5%
31.0%
Total SS
Warehouse
4.0%
5.8%
6.9%
9.3%
8.7%
7.5%
4.5% 4.6%
4.5%
SS Warehouse
Services
2017
2018 2019 2020 2021
1Q22 2Q22 3Q22 4Q22
Results since 2020 have been impacted by unprecedented COVID-related supply chain and labor
disruptions; successful pricing and labor initiatives have yielded positive results
Note: Figures as of December 31, 2022, unless otherwise indicated. Constant currency growth represents year-over-year growth based on the same foreign exchange rates relative to the comparable prior year period
2023 full year guidance is 3.0% - 6.0%
(1)
(2)
2023 full year guidance is 100-300 bps higher than the associated revenue
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