Americold Realty Trust (COLD) Investor presentation summary

Strategic positioning and growth drivers

• Operates a global network of 237 warehouses with ~1.5B cubic feet capacity and 5.5M pallet positions, serving all major supply chain nodes with both conventional and automated solutions.

• Focuses on operational excellence, scalable infrastructure, and advanced technology, including proprietary systems and automation projects.

• Strategic partnerships with CPKC and DP World enable unique import/export hubs and cross-border cold chain solutions, enhancing growth opportunities.

• Customer base includes blue-chip, investment-grade companies with long-term, multi-site contracts, driving stable revenue streams.

• Industry trends such as e-commerce growth, reshoring, and sustainability initiatives support long-term demand for cold storage.

Financial performance and capital allocation

• Achieved 34% growth in total segment contribution NOI and 40% growth in LTM PF Core EBITDA over the past three years.

• Same-store warehouse revenue grew 60% and NOI 69% since 2021, with fixed storage contracts now representing 60% of rent and storage revenue.

• Maintains a $1B development pipeline, with recent projects delivering 10-12% ROIC and strategic partnership investments.

• Total enterprise value stands at $8.7B, with $4.8B equity market cap and $4B in total debt, 95% unsecured and 93% fixed rate.

• Disciplined capital allocation includes organic reinvestment, M&A, and growing annualized dividends, while maintaining investment-grade ratings.

Technology, operations, and sustainability

• Proprietary Americold Operating System (AOS) and advanced WMS, LMS, and TMS platforms drive efficiency, safety, and service quality.

• Project Orion and embedded AI initiatives standardize processes and improve analytics, with over 415 identified AI use cases.

• Recognized for energy excellence, achieving a 9.48% reduction in Scope 1 and 2 emissions since 2021 and producing 24k MWh of renewable energy in 2024.

• Social and governance initiatives include charitable contributions, financial assistance to associates, and a fully independent board.

• Guidance for 2025 includes AFFO per share of $1.39–$1.45, with continued focus on margin improvement and disciplined expense management.