Autostore Hldgs Reg S (AUTSF) Q3 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Today's presentation is hosted from Oslo, Norway, and I'm joined by two members of our executive team, Mats Hovland-Vikse, AutoStore's CEO, and Paul Harrison, the Chief Financial Officer. Moving on to the disclaimer, as usual, we would like to remind you all of the disclaimer with regards to our forward-looking statements, which you can read here at your convenience. Looking at the agenda, we will first have Mats and Paul providing you with an update on the business and discuss the third quarter results in particular. As a reminder, all our financials are stated in US dollars and the management discussion will then be followed by a Q&A session with participants joining via the earnings call on phone and on the webcast. For webcast participants, please submit your questions at any time in the webcast player. We will then conclude the session with some final remarks from Mats. And with that, Mats, please take the floor. Thank you, Christian. So, looking at the highlights of this quarter, as you can see on this page, the team has delivered yet another solid quarter, especially bearing in mind the macro landscape we're in. On the financial highlights, in the third quarter of 2023, we achieved revenue of 145 million compared to 147 million in Q3 2022. As we communicated in August, revenue in this quarter was sequentially slightly lower than Q2 due to the project nature of our business and given customer project delivery schedules. At the same time, we continue to deliver a very strong gross margin of 68%, which is 14 percentage points higher than Q3 of 22. For the last three quarters, gross margin has been at a high but also sustainable level. And this here is a result of active actions like price increases and good cost controls. Correspondingly, we delivered a strong EB...