Autostore Holdings Ltd. · OSL:AUTO
Autostore — Autostore Hldgs Reg S — Q1 2024 Earnings Presentation
20 slides from Autostore's earnings presentation, Apr 25, 2024
Slide 1: First quarter 2024 Financial Results
First quarter 2024 Financial Results | 25 April 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: Q1 2024 highlights
Q1 2024 highlights Continued growth in order intake, stable high margins Financial Highlights Operational Highlights • Strong order intake of USD 183.0 million, up • General price increase of 9% and removed grid 11.4% YoY and up 11.7% QoQ surcharge, implying net 3% price increase, effective December
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 ~2,800 FY 2023 revenue $646m (+11%Y/Y) Partners Certified sales representatives3 Revenue CAGR Ro
Slide 6: Opportunities for expansion across a wide range of end markets
Opportunities for expansion across a wide range of end markets ~1050 Unique customers integrating AutoStore into their mission-critical supply chain # of 2023 share End market Selected blue chip customers systems1 of revenue2 Apparel & ~230 34% Sports Accessories Industrials3 ~480 17% 3PL ~180 10% O
Slide 7: Customer case: Supporting increased capacity and rapid growth for TTI
Customer case: Supporting increased capacity and rapid growth for TTI AutoStore supporting electronic components distributor’s growth with unrivalled scalability and efficiency improvement AutoStore system helped the company increase efficiency at End-customer realizes significantly increased densit
Slide 8: TTI electronics components distributor, Fort Worth
ie er |We're an electronics components distributor based out of Fort Worth, Texas. Industry Location Partner Electronics Distribution Dallas, Texas Swisslog =! AutoStore autostoresystem com
Slide 9: Q1: Financials
e e. @ e ee AutoStore
Slide 10: Key financial highlights
Key financial highlights Continued growth in order intake and high margins in Q1 $138m 73% 46% 77% $183m $492m Q1 revenue, -7% YoY Q1 gross margin, Q1 adjusted EBITDA Q1’24 Order intake, +11% YoY Order +5.6 pp. YoY margin, -0.1 pp. YoY Cash conversion1, and QoQ backlog (+1% YoY) -7.4 pp YoY Notes: a
Slide 11: Continued growth in order intake in Q1
Continued growth in order intake in Q1 provide solid platform for revenue growth Order intake Order backlog ($ million) ($ million) +11% +1% 183 489 492 452 464 447 164 164 152 137 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 Q1’23 Q2’23 Q3’23 Q4’23 Q1’24 • Growth particularly driven by consumer oriented categorie
Slide 12: Revenue affected by reduction of high throughput shipments
Revenue affected by expected reduction of shipments of high throughput projects as a result of project phasing. Increased volume of standard solutions Revenue Revenue by region ($ million) ($ million) EMEA -7% NAM 176 176 APAC 176 176 149 145 149 145 138 138 103 124 92 78 93 39 52 66 47 31 18 15 7 1
Slide 13: High gross margin driven by product mix and raw materials cost
High gross margin driven by product mix and favorable raw materials cost High and sustainable gross margins Business model supporting sustainability of margins Gross profit 1) Industry-leading technology delivers high customer Gross margin 119 121 ROI 100 99 101 2) Standardized, modular solutions pr
Slide 14: Strong underlying cash flow conversion
Strong underlying cash flow conversion Operating cash flow $53.4m 13 • Free cash flow conversion1 of 11 77% (85%), reflecting increased 3 280 253 32 62 CAPEX investments driven by 23 tech development and patent protection • Strong operating cash flow of USD 53 million, driven by improved working cap
Slide 15: Continued strategic progress in 2024
Continued strategic progress in 2024 Delivering growth through focus on innovation, market outreach, and efficiency 2024 Objectives • Further improve density and cost per unit of throughput Executing on R&D • Reduce installation and integration costs Roadmap • Introduce enhanced safety features Inve
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 First quarter Year USD million 2024 2023 2023 Profit/loss for the period 20.6 19.9 -32.6 Income tax expense/benefit 5.7 5.7 -13.7 Net financial items 19.9 19.4 32.7 EBIT 46.2 45.0 -13.6 Depreciation 3.3 2.2 10.6 Amortization of intangible assets 13.6 12.5 5
Slide 20: AutoStore
AutoStore
Autostore Hldgs Reg S — Q1 2024 Earnings Presentation on 6ix