AutoStore Q2 Adj. EBITDA Declines

(RTTNews) - AutoStore Holdings reported second quarter EBIT of $27.9 million, down 55.5% from a year ago. Adjusted EBITDA was $63.7 million, down 15.1%. Revenue was $134 million, down 13%. Order intake was $150 million, up 6%. AutoStore closed the quarter with an order backlog of $529 million.

"We remain confident in the long-term potential of warehouse automation. With AS/RS market penetration still at approximately 20%, the runway for growth is significant - and we're well-positioned to capture it," said CEO, Mats Hovland Vikse.

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