Autostore Holdings Ltd. · OSL:AUTO
Autostore — Q2 2022 Earnings Presentation
22 slides from Autostore's earnings presentation, Aug 18, 2022
Slide 1: Second Quarter 2022 Financial Results
Second Quarter 2022 Financial Results | 18 August 2022
Slide 2: Agenda
Agenda − Highlights of the quarter and business update − Financials − Outlook & Q&A 2
Slide 3: Q2 2022 highlights
Q2 2022 highlights Revenue growth, order intake and operational efficiencies support 2022 guidance and continued growth in 2023 Financial Highlights Operational Highlights Corporate Developments − USD 165.6 million in revenues, representing a − Significantly reduced lead times for key − Appealed the
Slide 4: Automation is key to alleviate supply chain constraints and increase efficiency
Automation is key to alleviate supply chain constraints, increase efficiency, meet change in consumer behavior and improve operational ESG footprint eCommerce continues to grow and Changing consumer demands & expected to represent a significant emergence of micro-fulfillment centers portion in the l
Slide 5: Progressing as planned on strategic initiatives
Progressing as planned on strategic initiatives Key strategic priorities include: Progress we have made in 1H 2022 include: − +208% and 320% revenue growth YoY, respectively in MFC and High 01 Penetrating new markets – including MFCs Throughput segments − Continuing to build pipeline of larger tier
Slide 6: Improved sourcing strategy to mitigate manufacturing disruptions and accommodate growth
Improved sourcing strategy to mitigate manufacturing disruptions and to accommodate future growth Expanding and regionalizing the supplier base Adding new suppliers to de-risk supply chain for grid parts # of aluminium supplier plants for the grid elements Robust forecast and monitoring of all exist
Slide 7: Significant lead time improvements
Significant lead time improvements Reduced lead times from increased capacity and supplier diversification Lead times returning to historical levels… ~35 ~ 30 ~ 20 … resulting in customers placing orders closer to delivery, which temporarily impact growth in order intake…. …however, with the solid o
Slide 8: Order backlog of USD 478 million provides revenue visibility
Order backlog of USD 478 million provides revenue visibility for balance of the year and continued growth in 2023 Order intake Order backlog +66% ~190 – Order intake was USD 161.3 million in Q2 2022, flat from MUSD 478 USD 161.6 million in Q1 2022 and USD 161.0 million in Q2 2021 – Development partl
Slide 9: Current order backlog and pipeline support 2023 growth outlook
Current order backlog and pipeline support 2023 growth outlook Strong visibility to 2022E revenue guidance Order backlog and pipeline supports 2023E Required pipeline contribution represents a conversion rate of ~11% compared to ~13% ~700-800 for 2022E and 2021. ~50 ~550-600 Represents ~25% Backlog
Slide 10: Decathlon revolutionizing in-store retailing with AutoStore
WIP Decathlon revolutionizing in-store retailing with AutoStore 10
Slide 11: Q2 Financials
~-AutoStore \ \ ARI AL i
Slide 12: Key financial highlights
Key financial highlights Continued strong growth and solid order intake 165.6 MUSD 42.0% 85.5% 161.3 MUSD 477.6 MUSD Strong Q2 revenues – Adjusted EBITDA Q2’22 Q2’22 Order intake Strong order backlog – 93.6% YoY growth margin Cash conversion1 Flat YoY growth 66.1% YoY growth *Notes 12 1. Defined as
Slide 13: Strong growth and solid margins
Strong growth and solid margins Revenue Adjusted EBITDA* +92.9% +64.9% 288.6 123.7 +93.6% +62.6% 165.6 75.0 69.5 149.6 42.7 85.5 Q2’21 Q2’22 1H’21 1H’22 Q2’21 Q2’22 1H’21 1H’22 − AutoStore reported revenue in Q2 2022 of USD 165.6 million, representing YoY growth − Adjusted EBITDA* in Q2 2022 ended a
Slide 14: Q2'22 pro-forma adjusted EBITDA margin at 50%
Q2’22 pro-forma adjusted EBITDA margin at 50% Adjusted EBITDA margin development & pro-forma margin Pro-forma margin 50% ~50% ~2% 6% 6% 44% 2% 42% Q2’21A Grid cost Q1’22A Grid cost Q2’22A Price increases *Grid cost Q2’22 PF *Grid cost as per orders placed in August 2022 14
Slide 15: Revenue Development by Regions
Revenue Development by Regions Revenue by region +92.9% EMEA EMEA NAM 288.6 − Revenue increased to USD 96.0 million in the second quarter of 2022, representing APAC 65.9% YoY growth − In the first half of 2022 revenue was USD 179.9 million, compared to USD 94.0 million in the first half of 2022, rep
Slide 16: Other Metrics
Other Metrics Order intake Backlog 13.9% +66.1% 321.9 487.3 477.6 456.5 282.5 342.4 0.2% 287.6 161.0 161.3 Q2’21 Q2’22 1H’21 1H’22 Q2’21 Q3’21 Q4’21 Q1’22 Q2’22 − The order intake ended at USD 161.3 million compared with USD 161.0 million in the − Order backlog was USD 477.6 million at the end of th
Slide 17: Presentation of adjusted EBITDA break down
Presentation of adjusted EBITDA* break down Second quarter First half USD million 2022 2021 2022 2021 Profit/loss for the period 37.4 -1.7 59.4 -17.3 Income tax 10.6 -0.5 16.8 -4.5 Net financial items 24.3 11.4 24.1 5.5 EBIT 72.3 9.3 100.3 -16.3 Depreciation 1.8 1.1 3.3 2.2 Amortization of intangibl
Slide 18: Outlook
Outlook
Slide 19: Significant opportunities for continued growth
Significant opportunities for continued growth Global mega trends AutoStore Strategy M&A (software / product additions) Increase WMS revenues New product innovation Expand in APAC and North America Penetrate Micro Fulfilment Cubic storage tech segment share AS/RS market growth increase and penetrati
Slide 20: Summary: Reiterating 2022 growth outlook and initiating 2023 revenue ambitions
Summary: Reiterating 2022 growth outlook and initiating 2023 revenue ambitions of $700-800 million Guidance Medium-term Revenue 2022: $550-600m ~40% growth 2023:$700-800m • Consistent historical track-record of adjusted EBITDA margin of ~50% for 2018A-2021A • Modularity / standardization yields cons
Slide 21: Q&A
Q&A
Slide 22: AutoStore
AutoStore