Autostore Holdings Ltd. · OSL:AUTO
Autostore — Autostore Hldgs Reg S — Q4 2023 Earnings Presentation
20 slides from Autostore's earnings presentation, Feb 14, 2024
Slide 1: Fourth Quarter 2023 Financial Results
Fourth Quarter 2023 Financial Results | 14 February 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: Q4 2023 highlights
Q4 2023 highlights Accelerated growth in revenues and order intake, stable high margins Financial Highlights Operational Highlights • Full year revenue growth of 11%, significantly • General price increase of 9% and removed grid outpacing a declining market2 surcharge, yielding net price increase of
Slide 5: 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 Platform Customers and Partners Superior Financial Profile Countries 54 23 ~2,500 2023 revenue $646m (+11%Y/Y) Partners Certified sales representatives3 Revenue CAGR Robot
Slide 6: Opportunities for expansion across a wide range of end markets
Opportunities for expansion across a wide range of end markets ~1000 Unique customers integrating AutoStore into their mission-critical supply chain # of 2023 share End market Selected blue chip customers systems1 of revenue2 Apparel & ~220 34% Sports Accessories Industrials3 ~460 17% 3PL ~180 10% O
Slide 7: Customer case: Doubling capacity for industrial equipment distributor SMC
Customer case: Doubling capacity for industrial equipment distributor SMC The industrial segment increasingly important for AutoStore, and has proven resilient in uncertain macro AutoStore system helped the company transform the End-customer realizes greater efficiencies, added capacity and superior
Slide 8: SMC film
SMC film autostoresystem.com 8
Slide 9: Q4: Financials
e e. @ e ee AutoStore
Slide 10: Key financial highlights
Key financial highlights Continued growth in order intake in Q4. Strong revenue development, and continued high margins $176m 68.5% 48% 84% $164m $646m Q4 revenue, +20% YoY Q4’23 gross margin, Q4’23 adjusted EBITDA Q4’23 order intake and $447m in FY 2023 revenue, +11% +7.6 pp. YoY margin, +7.9 pp. Y
Slide 11: Continued growth in order intake in Q4
Continued growth in order intake in Q4 Order intake Order backlog ($ million) ($ million) 164 164 476 489 153 152 452 464 447 137 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 • Growth partly driven by acceleration in Apparel & Sports • Solid backlog with good coverage for 2024 • Stron
Slide 12: Accelerated revenue growth in Q4
Accelerated revenue growth in Q4 Revenue Revenue by region ($ million) ($ million) EMEA +20% NAM APAC 176 176 176 176 148 149 145 148 149 145 103 61 124 92 78 63 39 52 66 47 24 18 15 5 7 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 autostoresystem.com 12
Slide 13: High and sustainable gross margins and adjusted EBITDA margins
High and sustainable gross margins and adjusted EBITDA margins High and sustainable gross margins Business model supporting sustainability of margins Gross profit 1) Industry-leading technology delivers high customer Gross margin 119 121 100 99 ROI 90 2) Standardized, modular solutions provide acces
Slide 14: Strong underlying cash flow conversion
Strong underlying cash flow conversion Operating cash flow $12.6m • Free cash flow conversion2 of 261 253 84%, up 7.4 pp Y/Y and up 10 from 79.3% in Q3 23 80 11 1 31 • Solid net operating cash flow of 19 17 USD 12.6 million despite negative effect from Settlement Million $ and tax payment (which wil
Slide 15: Solid progress continuing into 2024
Solid progress continuing into 2024 Delivering growth through focus on innovation, market outreach, and efficiency 2023 Achievements 2024 Objectives ✓ R5 Pro robot significantly increases HTP efficiency • Further Improve density and cost per unit of Executing ✓ FusionPort improves operator speed and
Slide 16: Q&A
Q&A autostoresystem.com 16
Slide 17: Key takeaways – Investing with AutoStore
Key takeaways – Investing with AutoStore 01 Global leader in cubic storage with massive underpenetrated and growing warehouse automation market 02 High growth strategy accelerated by proven and scalable go-to-market model 03 Differentiated technology with innovative robotics powered by world class i
Slide 18: Appendix
Appendix autostoresystem.com
Slide 19: Presentation of adjusted EBITDA breakdown
Presentation of adjusted EBITDA1 breakdown Fourth quarter Full year USD million 2023 2022 2023 2022 Profit/loss for the period 39.3 26.8 -34.0 99.7 Income tax 11.2 6.7 -12.4 27.5 Net financial items 12.5 -2.3 32.7 39.8 EBIT 63.1 31.2 -13.6 167.0 Depreciation 2.9 1.6 10.6 6.6 Amortization of intangib
Slide 20: AutoStore
AutoStore
Autostore Hldgs Reg S — Q4 2023 Earnings Presentation on 6ix