Positioned for Continued Growth
CONSISTENT EBITDA GROWTH AND SIGNIFICANT RETURNS TO
STAKEHOLDERS DRIVE VALUE CREATION PER GPK SHARE/IP UNIT
Adj. EBITDA $s in millions
Combined with IP's
Consumer Business
Jan 1, 2018
CAGR +5%
$1,030
$971
(1)
$1,120
$1,070
Adj. EBITDA/GPK Shares + IP
Partnership Units (2)
CAGR +13%
(1)
$3.65
$3.40
$712
2017
$2.78
$2.56
$2.30
2018
2019
2020
2021E
2017
2018
MAJOR DRIVERS
.
Net organic sales growth, strategic acquisitions
•
•
•
Neutral price-cost relationship over time
Productivity greater than labor/benefits inflation
Acquisition of partnership interest & share repurchases
Graphic Packaging
INTERNATIONAL
2019
2020
2021E
GPK
(in millions)
Shares(2)
IP Units (2)
Total
Shares/Units (2)
2017
310
310
2018
300
80
380
2019
290
80
370
2020
268
47
315
1Q 2021
284
23
307
(1) Assumes mid-point of 2021 Adj EBITDA guidance range $1,090M - $1,150M
(2) GPK shares outstanding / IP partnership units as of year end and quarter end March 2021
©2021 Graphic Packaging International
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