Autostore Holdings Ltd. · OSL:AUTO
Autostore — Q1 2022 Earnings Presentation
19 slides from Autostore's earnings presentation, May 12, 2022
Slide 1: First Quarter 2022 Financial Results
First Quarter 2022 Financial Results | 12 May 2022
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 • Highlights of the quarter • Financials • Outlook & Q&A 3
Slide 4: Q1 2022 highlights
Q1 2022 highlights Excellent revenue growth, healthy order intake and several operational milestones support 2022 guidance Financial Highlights Operational Highlights Corporate Developments Unveils R5+ Robot, expanding bin-handling Appealed the ITC decision to the U.S. USD 123.1 million in revenues,
Slide 5: Favorable underlying market drivers support growth in the years to come
Favorable underlying market drivers support growth in the years to come ✓ Underpenetrated Warehouse Automation Market A solution well-proven eCommerce represents ~14% of global consumer spending1 and is expected to represent for eCommerce ~25% in 2025E Changing Consumer Demands & Emergence of Micro-
Slide 6: Order backlog of USD 487 million provides revenue visibility for balance of the year
Order backlog of USD 487 million provides revenue visibility for balance of the year Order intake Backlog ~ 275 • Order intake was USD 160.6 million in Q1 2022, up MUSD from USD 121.5 million in Q1 2021. 487 • The consistent and continued growth in order intake is to a large extent driven by the inc
Slide 7: Starting 2022 with strong demand, price increases and continuous strengthening of supply chain
Starting 2022 with strong demand, price increases and continuous strengthening of supply chain • Delivered excellent revenue growth of 92% YoY. • Price increases expected to lift margins in Q4 2022, with full effect Q1 2023, as projects move from backlog to realized revenues. • Continuous focus on s
Slide 8: Q1 Financials
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Slide 9: Key financial highlights
Key financial highlights Continued strong growth and record high order intake 123 MUSD 44% 79% 660 MUSD 487 MUSD Strong Q1 revenues - Adjusted EBITDA LTM Q1’22 LTM Q1’22 Order intake Record-high order 92% YoY growth margin Cash conversion1 112% YoY growth backlog Notes 1. Defined as Adj. EBITDA less
Slide 10: Strong growth and solid margins
Strong growth and solid margins Revenue Adj. EBITDA* +67.8% +91.9% 54.2 123.1 32.3 64.1 Q1’21 Q1’22 Q1’21 Q1’22 • AutoStore reported revenue in Q1 2022 of USD 123.1 million, representing YoY • Adjusted EBITDA* in Q1 2022 ended at USD 54.2 million (32.3), corresponding to growth of 91.9%. an EBITDA m
Slide 11: Revenue development by regions
Revenue development by regions Revenue by regions EMEA NAM +91.9% APAC • Revenue in Q1 2022 increased by 91.9% compared to the corresponding 123.1 period of 2021 – from USD 64.1 million to USD 123.1 million. • Revenue in the EMEA region increased from USD 36.1 million in Q1 2021 to USD 83.9 million
Slide 12: Price increase and aluminum surcharge expected to drive margin uplift
Price increase and aluminum surcharge expected to drive margin uplift • Q1 2022 margin temporarily impacted by increased raw material prices as we execute on backlog secured in 2021 before the introduced price increase. • AutoStore has introduced an aluminum surcharge in Q1 2022, in addition to the
Slide 13: Other metrics
Other metrics LTM order intake Backlog 111.5% 129.0% 660.1 487.0 620.9 456.5 510.4 342.4 420.9 287.6 312.0 212.7 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 • LTM order intake grew 111.5% from USD 312.0 million in Q1 2021 to USD 660.1 • Order backlog increased to USD 487.0 million in
Slide 14: Presentation of adjusted EBITDA break down
Presentation of adjusted EBITDA* break down First quarter USD million 2022 2021 Profit/loss for the period 22.0 -15.5 Income tax 6.2 -4.1 Net financial items -0.2 -6.0 EBIT 28.0 -25.6 Depreciation 1.5 1.1 Amortization of intangible assets 13.9 13.3 EBITDA 43.4 -11.2 Ocado litigation costs 9.9 4.2 Tr
Slide 15: Outlook
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Slide 16: 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 17: Summary: Reaffirm 2022 revenue ambitions – expect margin towards historical levels in 2023
Summary: Reaffirm 2022 revenue ambitions – expect margin towards historical levels in 2023 Guidance Medium-term Revenue 2022: $550-600m ~40% growth annually • Consistent historical track-record of adjusted EBITDA margin of ~50% for 2018A-2021A. • Modularity / standardization yields consistent margin
Slide 18: AutoStore
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Slide 19: AutoStore
AutoStore