Q2 Results 2024
In the second quarter, order intake came in at USD 141.4 million, up 3.4% compared to the same period last year and down 22.7% compared to the strong first quarter. This reflects longer decision-making cycles among end customers in the industry as a whole, and normal variations from one quarter to another.
“In our conversations with customers, it is clear that they remain committed to warehouse automation. It is the same across all end markets and regions. However, it is evident that these same customers are cautious on the timing of their commitment due to the challenging economic backdrop with sustained high interest rates”, said CEO Mats Hovland Vikse.
Gross profit amounted to USD 113.0 million (118.6). Gross margin increased to 73.3% from 67.6% in the corresponding period last year, driven by favorable sourcing of raw materials and product mix. Adjusted EBITDA amounted to USD 75.1 million (87.1). Adjusted EBITDA margin remained strong at 48.7% (49.6%).
(Nedre Vats, 1 August 2024): AutoStore Holdings Ltd (AutoStore: OSE:AUTO) invites investors and analysts to join the presentation of the second quarter 2024 financial results on Thursday 15 August 2024 at 08:00 CEST via a live webcast and earnings call.
06:00 - Announcement of the second quarter 2024 financial results. All material will be made available on www.newsweb.no and www.autostoresystem.com.
08:00 - Presentation will be held only via live webcast and earnings call. The presentation will be hosted by Mats Hovland Vikse, CEO and Paul Harrison, CFO. The presentation will be followed by Q&A.
The presentation will be broadcasted live at https://www.autostoresystem.com/investors, and can also be streamed at Autostore Webcast Q2 2024 (royalcast.com)
It will be possible to send in written questions through the webcast player. In addition, we invite participants to ask questions live at the end of the presentation by using the raise-hand feature in Microsoft Teams.
For further information, please contact:
Hiva Flåskjer, SVP Investor Relations, AutoStore AS Telephone: +47 958 66 790 I hiva.flaskjer@autostoresystem.com
About AutoStore
AutoStore, founded in 1996, is a technology company that develops order -fulfillment solutions to help businesses achieve efficiency gains within the storage and retrieval of goods. The company offers both hardware and software capabilities and the AutoStore technology is interoperable with other third -party solutions. AutoStore is global, with ~1,400 Systems in 54 countries. All sales are distributed, designed, installed, and serviced by a network of qualified system integrators referred to as "partners". AutoStore was founded in Nedre Vats, on the west coast of Norway. The company has offices in Norway, the U.S., UK, Germany, France, Spain, Italy, Austria, South Korea, Japan, Australia, and Singapore, as well as assembly facilities in Poland.
