Autostore Holdings Ltd. · OSL:AUTO
Autostore — Autostore Hldgs Reg S — Q3 2024 Earnings Presentation
19 slides from Autostore's earnings presentation, Nov 7, 2024
Slide 1: Third quarter 2024 Financial Results
Third quarter 2024 Financial Results | November 7, 2024 autostoresystem.com
Slide 2: Disclaimer
Disclaimer Certain statements included in this presentation includes forward-looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminolo
Slide 3: Agenda
Agenda 01 Highlights of the quarter & business update 02 Financials 03 Q&A autostoresystem.com 3
Slide 4: Q3 2024 highlights
Q3 2024 highlights Persistent high margins despite a challenging market environment Financial Highlights Operational Highlights • 2024 Fall product announcement targets • Revenue $144.2 million, slightly ahead of enhancement of operational efficiency incl. expectations communicated at recent CMD1 ex
Slide 5: 2024 CMD – Key takeaways
2024 CMD – Key takeaways Short term outlook Medium & long term Challenging market impacts short term Light AS/RS1,2 market expected to grow at performance. FY24E revenue of $575-600 CAGR of 14% to 2032, driven by strong million global secular tailwinds Targeted actions to improve execution in Cubic
Slide 6: The cubic storage pioneer: Global scale and leading position
The cubic storage pioneer: Global scale and leading position in an underpenetrated warehouse automation market Scaled and Global Customers and Partners Superior Financial Profile Platform Countries 57 23 ~3,000 FY 2024E revenue $575-600m Partners Certified sales representatives Robots ~72,500 Unique
Slide 7: Opportunities for expansion across a wide range of end markets
Opportunities for expansion across a wide range of end markets ~1,100 Unique customers integrating AutoStore into their mission-critical supply chain # of 2023 share End market Selected blue chip customers systems1 of revenue Apparel & ~240 34% Sports Accessories Industrials2 ~515 17% 3PL ~195 10% O
Slide 8: Q3: Financials
Q3: Financials
Slide 9: Key financial highlights
Key financial highlights Operational efficiency underpins high sustainable margins $144m 73% 47% 82% $144m $479m Q3 revenue, -0.3% YoY Q3 gross margin, Q3 adjusted EBITDA Q3’24 Order intake Order backlog +5.3 pp. YoY margin1, -0.6 pp. YoY Cash conversion2, -5.1% YoY +3.2% YoY +3.1 pp. YoY Notes: 1.
Slide 10: Revenue slightly ahead of expectation communicated at CMD
Revenue slightly ahead of expectation communicated at CMD Revenue Revenue by region ($ million) ($ million) EMEA NAM APAC -0.3% 176 176 154 154 145 144 145 144 138 138 103 78 101 93 106 52 66 31 42 29 15 7 14 11 9 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 autostoresystem.com 10
Slide 11: Continued long decision-making cycles impact order intake and backlog conversion
Continued long decision-making cycles impact order intake and backlog conversion Order intake Order backlog ($ million) ($ million) -5% +3% 183 492 479 479 464 447 164 152 141 144 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 Q3’23 Q4’23 Q1’24 Q2’24 Q3’24 • YTD strong development in high throughput projects • No ca
Slide 12: High sustained gross margin
High sustained gross margin Strong adj. EBITDA margin supported by high sustainable gross margin as we continue to invest in the business High and sustainable gross margin Business model supporting sustainability of margins Gross profit ($ million) 1) Industry-leading technology delivers high custom
Slide 13: Maintaining a strong cash position and investing in our future growth
Maintaining a strong cash position and investing in our future growth Cash flow bridge from July to September 2024 Strong cash from operating activities • Continued good cash flow Operating cash flow $26m development with operating cash flow of $26 million 9 11 5 280 269 32 68 • Simplified free cash
Slide 14: Key takeaways
Key takeaways 01 Q3 2024 results consistent with CMD communication 02 2024 revenue guidance remains unchanged at $575-600 million 03 Secular growth drivers make us unwavering in our confidence in the long- term attractiveness of this market autostoresystem.com 14
Slide 15: Q&A
Q&A autostoresystem.com 15
Slide 16: Key takeaways
Key takeaways 102 01 Massive under-penetrated market driven by megatrends 02 Global #1 in cubic storage with largest installed base of global customers 03 Innovation engrained in AutoStore's DNA 04 Multiple ways to win 05 Strong financial profile supported by product standardization
Slide 17: Appendix
Appendix autostoresystem.com
Slide 18: Presentation of adjusted EBITDA breakdown
Presentation of adjusted EBITDA1 breakdown Third quarter YTD $ million 2024 2023 2024 2023 Profit/loss for the period 31.1 55.0 96.4 -73.3 Income tax 6.9 15.6 25.2 -23.6 Net financial items 15.9 -8.9 41.1 20.2 EBIT 54.0 61.7 162.8 -76.7 Depreciation 4.6 2.9 11.6 7.7 Amortization of intangible assets
Slide 19: AutoStore
AutoStore
Autostore Hldgs Reg S — Q3 2024 Earnings Presentation on 6ix