First quarter 2024 highlights
(All comparisons to corresponding period in 2023)
- Strong order intake of
USD 183.0 million , up 11.4% YoY and up 11.7% QoQ - Driven largely by positive development in high throughput and MFC segments
- Revenue of
USD 138.1 million , -7.4% YoY, with lower shipments of large high throughput projects in line with expectations - Gross margin of 72.7%, driven by favorable product mix and price
- Stable adj. EBITDA margin of 45.7% (45.8%)
(
"
The growth in order intake was particularly driven by large high throughput systems. Market activity was high in the consumer goods sector, in addition to third-party logistics and automotive.
Key financials
USD million | 2024 | 2023 | ∆ in % |
Revenue | 138.1 | 149.2 | -7.4 % |
Gross profit | 100.5 | 100.1 | 0.4 % |
Gross margin | 72.7% | 67.1 % | 5.6 pp. |
EBIT | 46.2 | 45.0 | 2.7 % |
Adjusted EBITDA | 63.2 | 68.3 | -7.5 % |
Adjusted EBITDA margin (%) | 45.7 % | 45.8 % | -0.1 pp. |
Adjusted EBIT | 56.3 | 64.0 | -12.0 % |
Adjusted EBIT margin (%) | 40.8 % | 42.9 % | -2.1 pp. |
Simplified free cash flow | 48.7 | 57.7 | -15.6 % |
Cash flow conversion (%) | 77.0 % | 84.4 % | -7.4 pp. |
Order intake | 183.0 | 164.3 | 11.4 % |
Revenue for the fourth quarter of 2023 totaled
Gross profit amounted to
"The solid start of the year has led to an expansion of our backlog to
Alternative performance measures used in this release are described and presented in the section Alternative Performance Measures in the quarterly update.
About
AutoStore™, founded in 1996, is a technology company that develops order-fulfillment solutions to help businesses achieve efficiency gains within the storage and retrieval of goods. The company offers both hardware and software capabilities and the
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