Autostore Holdings Ltd. · OSL:AUTO
Autostore — Autostore Hldgs Reg S — Q2 2024 Earnings Presentation
22 slides from Autostore's earnings presentation, Aug 15, 2024
Slide 1: Second quarter 2024 Financial Results
Second quarter 2024 Financial Results | 15 August 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: Q2 2024 highlights
Q2 2024 highlights Strong profitability in a challenging market environment Financial Highlights Operational Highlights • Revenue USD 154.2 million, -12.2% YoY • Strengthening innovation and growth capabilities by Sequentially +11.6% appointing Parth Joshi as new Chief Product Officer and Carlos Fer
Slide 5: AutoStore well positioned to capture market recovery
AutoStore well positioned to capture market recovery Step 01 Challenging short term Strong underlying demand Market share gains Growth strategy dynamics autostoresystem.com 5
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 ~2,800 FY 2023 revenue $646m (+11%Y/Y) Partners Certified sales representatives Robots ~70,000 U
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 ~490 17% 3PL ~190 10% O
Slide 8: Customer case: Cutter & Buck
Customer case: Cutter & Buck AutoStore provides speed and efficiency which enables same day delivery, propelling Cutter & Buck to its best quarter ever Apparel customer looking for a fulfillment solution to Removed pre-existing bottlenecks, driving record quarterly results and allowing improve effic
Slide 9: Video Cutter & Buck placeholder
WIP hiva to fix [Placeholder] Video Cutter Buck autostoresystem.com 9
Slide 10: Q2: Financials
~ AutoStore “\ \ oe
Slide 11: Key financial highlights
Key financial highlights Eight consecutive quarters of gross margin improvement $154m 73% 49% 77% $141m $479m Q2 revenue, -12% YoY Q2 gross margin, Q2 adjusted EBITDA Q2’24 Order intake, +3% YoY Order +5.7 pp. YoY margin1, -0.9 pp. YoY Cash conversion2, backlog +6% YoY -7.8 pp. YoY Notes: 1. Adjuste
Slide 12: Revenue impacted by longer conversion times
Revenue impacted by longer conversion times Revenue Revenue by region ($ million) ($ million) EMEA NAM APAC -12% 176 176 176 176 154 154 145 145 138 138 103 124 78 101 93 52 66 47 31 42 5 15 7 14 11 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 autostoresystem.com 12
Slide 13: Backlog quality and project types support long-term growth
Backlog quality and project types support long-term growth Order intake Order backlog ($ million) ($ million) +3% +6% 183 492 479 452 464 447 164 152 137 141 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 Q2’23 Q3’23 Q4’23 Q1’24 Q2’24 • Industrials and high throughput projects drove YoY growth • Increased share of m
Slide 14: Strong adj. EBITDA margins and investment in growth
Strong adj. EBITDA margins and investment in short and long-term growth… …enabled by high gross margin and operational excellence High and sustainable gross margin Business model supporting sustainability of margins Gross profit 1) Industry-leading technology delivers high customer ROI Gross margin
Slide 15: Maintaining a solid cash position and investing in future growth
Maintaining a solid cash position and investing in our future growth Cash flow bridge from March 2024 to June 2024 Strong cash from operating activities • Free cash flow conversion2 of Operating cash flow USD 16.3m 77% (85%), partially driven by lower YoY adjusted EBITDA1 and 15 280 32 11 increased
Slide 16: Short and long-term actions to stimulate growth
Short and long-term actions to stimulate growth Targeting 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 fea
Slide 17: Q&A
Q&A autostoresystem.com 17
Slide 18: 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 19: Welcome to AutoStore's Capital Markets Day
Welcome to AutoStore’s Capital Markets Day September 18 th Join us at THG in Manchester, UK and experience a full tour of the world’s largest multi-tenant high-throughput system. This will be followed by presentations held by members of our executive management team. Click here for information and t
Slide 20: Appendix
Appendix autostoresystem.com
Slide 21: Presentation of adjusted EBITDA breakdown
Presentation of adjusted EBITDA1 breakdown Second quarter First half USD million 2024 2023 2024 2023 Profit/loss for the period 44.7 -148.1 65.3 -128.3 Income tax 12.6 -44.9 18.3 -39.2 Net financial items 10.9 9.7 21.9 29.1 EBIT 62.6 -183.4 108.8 -138.4 Depreciation 3.7 2.6 7.0 4.8 Amortization of i
Slide 22: AutoStore
AutoStore
Autostore Hldgs Reg S — Q2 2024 Earnings Presentation on 6ix