Americold Realty Trust (COLD) Investor presentation summary

Strategic positioning and growth opportunity

• Operates a global network of high-quality, mission-critical cold storage warehouses, serving as a leader in a fragmented industry with 1.4B cubic feet of capacity across 239 facilities worldwide.

• Strategy focuses on operational excellence, scalable infrastructure, and leveraging partnerships with industry leaders to drive growth.

• Offers a unique value proposition through advanced technology, proprietary operating systems, and a comprehensive suite of value-added services.

• Maintains deep customer relationships, with top 25 customers accounting for 51% of warehouse revenues and an average tenure of 38 years.

• Strategic partnerships with CPKC and DP World enable exclusive growth opportunities and network expansion.

Financial performance and growth

• Achieved 34% growth in total segment contribution NOI and 40% growth in AFFO over the past three years.

• Same-store warehouse revenue grew 60% and NOI grew 69% from 2021 to 2024, with fixed storage contracts now representing 59% of total warehouse rent and storage revenues.

• Core EBITDA reached $634M in 2024, with margin improvement to 23.8% due to efficiency initiatives and technology investments.

• Maintains significant financial flexibility with $922M in liquidity, investment grade ratings, and a net debt to Core EBITDA ratio of 5.4x.

• 2025 guidance projects AFFO per share of $1.51–$1.59 and continued growth in same-store revenue and NOI.

Operational excellence and technology

• Proprietary Americold Operating System (AOS) standardizes best practices, drives continuous improvement, and enhances service quality.

• Advanced technology stack includes WMS, LMS, TMS, and WES, with Project Orion ERP and over 415 identified GenAI use cases to drive efficiency.

• Industry-leading safety performance, with a 43% lower total recordable incident rate than the industry average.

• Automation and innovation initiatives have improved labor productivity and service margins.