AutoStore: Q2 2023 financial results

Second quarter 2023 highlights (All comparisons to corresponding period in 2022) · All time high revenue of USD 176 million, up 18% compared to the first quarter of 2023, and up 6% compared to the corresponding period last year · Gross profit of USD 119 million, up 27% from USD 94 million · Strong gross margin of 68%, up by 11 pp. · Adjusted EBITDA[1] of USD 87 million, up 25% from USD 70 million · Returning to historical and industry leading adjusted EBITDA[1] margin of 50%, up 8 pp. · Quarterly order intake[2] of USD 137 million brought the order backlog[3] to USD 452 million · Simplified free cash flow[1] was USD 74 million, up from USD 59 million, equating to a cash flow conversion rate of 85% (86%) [1] Please refer to APM section for further explanations and details on APM measures on page 25 of the second quarter 2023 financial report. [2] 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. [3] Order backlog is defined as the total value of order intake not yet shipped and for which revenue has not yet been recognized. Full year 2023 guidance · Reaffirming revenue of USD 700 to 750 million