Fourth quarter 2023 highlights
(All comparisons to corresponding period in 2022)
- Solid order intake[1] of
USD 164 million in Q4, an 8% sequential growth compared to the third quarter 2023, brought the order backlog[2] toUSD 447 million -
Revenue of
USD 176 million , an increase of 20% compared to the corresponding period last year - Strong gross margin of 69%, (61%) up by 8 pp YoY reflecting a successful restoration to a sustainable, high level
- Another quarter of historical and industry leading margin levels with an adjusted EBITDA[3] margin of 48%, (40%) up 8 pp YoY
-
Simplified free cash flow3 was
USD 71 million , up fromUSD 45 million , equating to a cash flow conversion rate of 84% (77%) - Positive outlook for growth and sustainable high margins
(
"We continued to experience high activity in the market in the fourth quarter, and we grew our order intake by 7% compared to the fourth quarter last year. The quarter was also the second in a row with sequential growth in order intake.
Key financials
Fourth quarter of 2023 operational results
Revenue for the fourth quarter of 2023 totaled
Gross profit amounted to
"We remain highly optimistic about our future growth, and continue to see tremendous growth opportunities in the underpenetrated warehouse automation market. We remain highly confident in
Conference call and webcast information
A presentation will be held via a live webcast and an audio only earnings call at
The presentation will be hosted by
Participants may ask written questions through the webcast player or audio only by phone. Participants on the phone line are encouraged to dial-in 5 to 10 minutes in advance for registration.
Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20240214_2/
Participants dial-in numbers:
DK: +45 7876 8490
SE: +46 8 1241 0952
NO: +47 2195 6342
US: +1 646-787-0157
Conference code: 366151
PIN code for all countries: 9940
For further information, please contact:
Telephone: +47 41508733 | Info.ir@autostoresystem.com
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
[1] Order intake is defined as value of projects where a distribution partner has received a purchase order or verbal confirmation that a specific installation will be ordered.
[2] Order backlog is defined as the total value of order intake not yet shipped and for which revenue has not yet been recognized.
[3] Please refer to APM section for further explanations and details on APM measures on page 24 of the fourth quarter 2023 financial report.
https://news.cision.com/autostore-as/r/autostore--q4-2023-financial-results,c3928103
https://mb.cision.com/Main/20851/3928103/2602539.pdf
https://mb.cision.com/Public/20851/3928103/95e99315fd5ad252.pdf
https://mb.cision.com/Public/20851/3928103/aa662d8511d115e0.pdf
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