AutoStore Holdings Ltd
AUTO
ISIN BMG0670A1099 / Valor 114227315
AutoStore Holdings Ltd
UMushroom community rating:
About company
AutoStore Holdings Ltd, established in 1996 in Nedre Vats, Norway, is a leading technology company specializing in the development of automated storage and retrieval systems for optimizing the efficiency of order fulfillment processes. The company's innovative solutions encompass both hardware and software, designed to be interoperable with third-party systems, thereby offering flexible integration options for a wide range of business needs. With a global presence, AutoStore operates in over 50 countries, supported by a network of qualified system integrators known as partners. The company's reach extends through offices located in key markets including the United States, United Kingdom, Germany, France, and several others, alongside production facilities in Poland. AutoStore's technology is utilized in more than 1,250 systems worldwide, facilitated by a fleet of over 58,500 robots. The company's growth and expansion have attracted significant investment, notably from SoftBank, Thomas H. Lee Partners, L.P., and EQT Private Equity. With a strategic focus on continuing its global expansion, AutoStore is positioned to further its influence in the automation and logistics sectors under the leadership of its recently appointed CEO, Mr. Hovland Vikse, and interim Chief Revenue Officer, Mr. Dickson, both of whom bring extensive experience in automation and commercial strategy.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (20.08.2024):
Revenue Performance
In the second quarter of 2024, AutoStore Holdings Ltd reported total revenue of USD 154.2 million, which represents a year-over-year decrease of 12.2% from USD 175.5 million. This decline was primarily due to postponed scheduled delivery times for some projects. However, revenue increased by 11.6% quarter-over-quarter, driven by positive sequential development in EMEA and NAM regions.
Gross Margin Improvement
AutoStore Holdings Ltd achieved a gross profit of USD 113.0 million in Q2 2024, compared to USD 118.6 million in the same period last year. The gross margin improved significantly by 5.7 percentage points year-over-year, reaching 73.3%. This improvement was mainly due to favorable sourcing of raw materials and a beneficial product mix.
Adjusted EBITDA Margin
The adjusted EBITDA margin for AutoStore Holdings Ltd in Q2 2024 was 48.7%, slightly down from 49.6% in Q2 2023. Despite this slight decrease, the margin showed a sequential improvement from 45.7% in the previous quarter, driven by the improved gross margin and strong cost control measures.
Operating Expenses
Operating expenses for AutoStore Holdings Ltd in Q2 2024 totaled USD 17.7 million, a significant decrease from USD 266.7 million in Q2 2023. The previous year's expenses were heavily impacted by a USD 239.0 million settlement with Ocado Group and associated legal fees. Excluding these adjustments, other operating expenses were USD 13.9 million last year, indicating a year-over-year increase in operating expenses due to higher headcounts.
Order Intake and Backlog
AutoStore Holdings Ltd reported an order intake of USD 141.4 million in Q2 2024, up 3.4% year-over-year. The order backlog at the end of the quarter was USD 478.8 million, representing a 5.9% increase year-over-year. This growth was supported by an increased share of larger-sized projects, reflecting the company's strong market position and customer demand.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3316 M
Market cap (USD)
7,288,810
Daily traded volume (Shares)
11.1 / 10.67
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
EQUITIES OF THE SAME SECTOR
