Turnover fell in Autostore

Autostore increased its bottom line after lower costs. The company highlights continued improvement in order intake.

The case is updated.

The robotic warehouse company Autostore presents its results for the first quarter on Thursday:

• Profit before tax rose to $26.3 million from $25.6 million in the first quarter last year.
• The operating result landed at 46.2 million dollars, up from 45 million dollars in the corresponding period last year.
• Revenue, however, fell to $138.1 million from $149.2 million in the corresponding quarter last year, which was offset by lower costs.
• Analysts had previously expected pre-tax profit of $42.7 million, operating profit of $60.3 million and revenue of $160.7 million, according to Bloomberg.

Increased order intake

The company writes in the quarterly report that the decrease in income is due to the timing of installing projects.

In the quarter, order intake was 183 million dollars. This was an increase of 11.4 per cent from the same period last year. Autostore points out, among other things, that a large proportion of new orders came from new customers.

The order backlog was USD 491.6 million, compared to USD 488.8 million in the first quarter of last year.

Autostore manager Mats Hovland Vikse emphasizes that order intake has improved for three quarters in a row. He particularly highlights the areas of merchandise trade, logistics and the automotive industry.

Vikse also points out that a favorable product mix, price optimization and the purchase of raw materials contributed to a high gross margin.

“Autostore continues to see an increase in order intake and high market activity, measured by a growing order book and a solid portfolio of upcoming projects, which supports further growth in 2024,” the company writes.

“At the same time, in this environment, it is challenging to predict exactly how long it will take to move opportunities to order intake and ultimately to revenue,” the company adds.