Tosca Services LLC

Overview Key strengths Key risks Provides reusable packaging supply chain solutions with strong market positions in case-ready meat and eggs. Small scale with a limited market position. Exposed to relatively stable food and beverage end markets. Elevated capital expenditures (capex) to support growth, resulting in negative free operating cash flow (FOCF). Recent acquisitions will help expand the company?s scale and scope of operations despite incremental leverage. Inflationary pressures impacting EBITDA margins. Notwithstanding headwinds from foreign exchange rates, supply chain disruptions, inflationary pressure, and the loss of a large U.S. produce retailer, we expect revenue to grow in the low-single-digit percent area in 2022. The slight revenue growth is supported by new contracts with assistance from favorable market trends in the

...Despite macroeconomic headwinds, we expect revenue to grow in the low-single-digit percent area in 2022. Notwithstanding headwinds from foreign exchange rates, supply chain disruptions, inflationary pressure, and the loss of a large U.S. produce retailer, we expect revenue to grow in the low-single-digit percent area in 2022. The slight revenue growth is supported by new contracts with assistance from favorable market trends in the fast-growing pallet and reusable plastic containers (RPCs) business. During the first quarter of 2022, revenue was up slightly by 2% or $2.3 million, including the impact of the loss of one U.S. produce retailer. Despite the loss of the produce business, Tosca continues to serve the U.S. retailer with meat and egg RPCs....

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