Q1 Results 2022

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Introduction

AutoStore today announces revenue in the first quarter 2022 of USD 123.1 million, up 91.9% from the corresponding quarter in 2021 (USD 64.1 million), and an adjusted EBITDA of USD 54.2 million (32.3). The company had an order intake of USD 160.6 million, bringing the backlog to USD 487.0 million. AutoStore today hosts the Capital Markets Day 2022 at 14:30 CEST and reiterates the 2022 revenue guidance of USD 550-600 million with expected margin improvements going into 2023.

Comments from our CEO

“AutoStore delivered another strong quarter with a revenue growth of 91.9%, an adjusted EBITDA margin of 44.0%, and a solid order intake of USD 160.6 million, bringing our order backlog to an all-time high of USD 487 million. AutoStore business model has proven to be resilient in volatile and uncertain time and we have the flexibility to navigate temporary supply chain challenges. With the 2021 performance as tailwind on top of our proven expansion strategy, we see significant opportunities for growth acceleration going forward and reiterates our 2022 revenue guidance,“ says Karl Johan Lier, Chief Executive Officer of AutoStore.

 “AutoStore continues to benefit from a huge, underpenetrated market with high expected growth rates for fast cubic storage. The expected growth is driven by development in e-commerce, changes in consumer demand, labor shortages, and pressure on warehouse costs. We made significant progress in the quarter to further penetrate and grow this USD  230 billion addressable market for automated storage and retrieval systems. Our market access in important regions continued and we gained market shares in the attractive markets within Micro-Fulfillment Centers and high throughput, and further developed our technological leadership,“ Lier says.

Documents & Links

Agenda

AutoStore invites investors, analysts, and journalists to join the presentation of the first quarter 2022 financial results on Thursday, May 12, 2022, at 08:00 CEST via a live webcast and conference call. The report and presentation will be available at approximately 06:00 (CEST).

Reporting day program (CEST)

06:00 CEST - Announcement of first quarter 2022 financial results. All material will be made available on newsweb.no and www.autostoresystem.com.

08:00 CEST - Presentation will be held only via live webcast and conference call. The presentation will be hosted by Karl Johan Lier, CEO; Bent Skisaker, CFO; and Mats Hovland Vikse, CRO. The presentation will be followed by a Q&A were you can post questions via the webcast or conference call.

To participant via conference call, please dial-in 5 to 10 minutes in advance for registration.

Participants dial-in numbers:

PIN code for all countries: 366151

NO: +47-21-956342
SE: +46-4-0682-0620
DK: +45 78768490
UK: +44-203-7696819
US: +1 646-787-0157

Webcast

Investor Relations Contact

Hiva Ghiri

VP Investor Relations
+47 958 66 790hiva.ghiri@autostoresystem.com

Bent Skisaker

Chief Financial Officer
+47 468 21 693bent.skisaker@autostoresystem.com