“AutoStore delivered another strong quarter with a revenue growth of 58.3%, an adjusted EBITDA margin of 44.1%, and an impressive order intake of USD 198.4 million, bringing our order backlog to exceed USD 450 million.
This impressive performance by our team and partners brings our 2021 revenue to USD 327.6 million, well above our target of approximately USD 300 million in 2021.
The development proves that AutoStore continues to benefit from a huge, underpenetrated market with high expected growth rates for fast cubic storage. Drivers for the development are a strong macro backdrop of pressure on warehouse costs and productivity, acceleration in e-commerce growth, and labor shortages.
The order intake of USD 198.4 million in the quarter, representing a growth of close to 130% year-over-year, brings the order book to over USD 450 million. The growth and performance in the fourth quarter of 2021 highlight the momentum for AutoStore, with strong demand across regions, end markets, and warehouse categories.
We are confident in our ability to deliver solutions to sustain the revenue growth, despite the current tight market situation for certain parts and materials we are facing. This situation will have some short-term impact on margins.
With the 2021 performance as tailwind on top of our proven expansion strategy, we see significant opportunities for growth acceleration going forward. Consequently, we increase our 2022 revenue guidance from over USD 500 million to USD 550-600 million. And the best has yet to come: The journey has just begun.”
AutoStore Holdings Ltd. (AutoStore, OSE:AUTO) invites investors, analysts and journalists to the presentation of the fourth quarter 2021 financial results on Thursday, 17 February 2022, at 08:00 CET.
06:00 - Announcement of fourth quarter 2021 financial results. All material will be made available on newsweb.no and autostoresystem.com.
08:00 - Presentation at Høyres Hus, Oslo. 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.
The presentation will be broadcast live below, and you can also click here to watch the webcast.
15:00 - Earnings call and Q&A. Audio only. Participants are encouraged to dial in 5 to 10 minutes in advance for registration.
Participants dial-in numbers:
PIN code for all countries: 366151
DK: +45 78768490
US: +1 646-787-0157