AutoStore Holdings Ltd.
Research
Buy by micke (03/10/2024)
- 12.50 +6.29% by 03/10/2025
Autostore is a tech company within warehouse automation. They seem to have a very good system with good ROI for customers. Installations are done via integration partners and Autostore has many large installations. The company is listed in Oslo but the majority owners are in the US. Valuation was very high at the IPO 2021, driven by high growth within e-commerce during Covid. The growth outlook is now negative for 2024, if/when growth returns the share price will increase. The share isn’t cheap but at 11 NOK Autostore seems reasonably priced with good long term potential.
Valuation (1)
At the IPO in autom 2021 the company was expanding rapidly supporting growing e-commerce customers. Since IPO e-commerce has struggled and Autostore’s has stagnated, and expectation for 2024 is a decline versus 2023. The valuation has dropped 66% since first trading, but that was in a completely different market. Now the valuation is more balanced and it could be a good time to buy in to a company with very interesting potential.
03/10/2024 by MICKE｜01Business (2)
Autostore makes systems for warehouse automation. Autostore works with partners for integration.
Videos describing how it works:
AutoStore | Site Visit | Elektroimportoren
AutoStore | Site Visit | Davcor03/10/2024 by MICKE｜01Reference customers are very positive, many Youtube videos. The system is energy efficient, scalable, dense, fast, good up-time, 2-3 years ROI. Reference customers calculate at 3 years but extra savings such as low energy consumption, low stock loss (e.g. damaged goods or theft) improve ROI. The system is very robust, if a robot should break the others keep on working. Relatively easy to learn for workers and good for ergonomics. The robots work 24/7 even if the staff are not, preparing orders to make picking efficient the next day.
03/10/2024 by MICKE｜01