Slides
Page 1
Q3 2026 Financial Results | November 5, 2026
Page 2
autostoresystem.com Certain statements included in this presentation includes forward- looking statements that reflect the Company's current views with respect to future events and financial and operational performance. These forward-looking statements may be identified by the use of forward-looking terminology, such as the terms "anticipates", "assumes", "believes", "can", "could", "estimates", "expects", "forecasts", "intends", "may", "might", "plans", "should", "projects", "will", "would" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements as a general matter are all statements other than statements as to historic facts or present facts and circumstances. The forward-looking statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Group's financial strength and position, backlog, pipeline, operating results, liquidity, prospects, growth, the implementation of strategic initiatives, as well as other statements relating to the Group's future business development and financial performance, and the industry in which the Group operates, such as but not limited to the Group's expansion in existing and entry into new markets in the future. Forward-looking statements are not guarantees of future performance and that the Group's actual financial position, operating results and liquidity, and the development of the industry and potential market in which the Group may operate in the future, may differ materially from those made in, or suggested by, the forward-looking statements. The Company cannot guarantee that the intentions, beliefs or current expectations upon which its forward-looking statements are based will occur. By their nature, forward-looking statements involve, and are subject to, known and unknown risks, uncertainties and assumptions as they relate to events and depend on circumstances that may or may not occur in the future. Because of these known and unknown risks, uncertainties and assumptions, the outcome may differ materially from those set out in the forward-looking statements. 2 Disclaimer
Page 3
autostoresystem.com Agenda 3 01 02 03 Highlights of the quarter & business update Financials Q&A
Page 4
autostoresystem.com Business update • Fall 2026 Product Announcement introduces new products and capabilities that further strengthen autonomous and intelligent fulfillment • Acquisition of Logiqs enables future expansion into roaming pallet AS/RS 2 Financial overview • Revenue $192 million, +38% YoY • Order intake $178 million, +17% YoY • Gross margin of 71%, -1.8p.p. YoY • Adj. EBITDA1 margin 42%, -4.8p.p. YoY 4 Q3 2026 overview 1. Adj. EBITDA and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2026 report. 2. Automated Storage and Retrieval Systems 2026 outlook raised • Raised Full Year 2026 revenue guidance to around $750 million, up from around $700 million, supported by strong execution, healthy order backlog and increased visibility into the outturn of the year • Positive momentum supports continued investments, which are expected to slightly moderate margins in the second half Continued strong execution and performance
Page 5
autostoresystem.com 5 A clear path to long-term value creation Superior platform and installed base Market leading technology platform with ~2,050 systems, delivering strong customer payback of 1-3 years Go to market model enabling scalability and customer intimacy Our global partner network drives reach and scale, while deep engagement with key accounts builds the intimacy needed to “land and expand” Expanding offering Continue investing in innovation to enhance our offering, while selectively expanding into adjacent areas and use cases through organic development and strategic acquisitions Attractive market Very large, underpenetrated market with majority of warehouses yet to be automated Underpinned by attractive financials, strong cash generation and disciplined capital allocation
Page 6
FlexBinsPort One port for every bin height AutoCase update Broader case coverage, Multi-Station (FlowStream) Pio Pal , Pio Industrial & Retail Robotic picking add-on for any Pio, plus industrial and retail setups Robotic piece picking Automated induction, barcode scanning and cycle counting Path to lights-out operations Autonomous-ready intelligence — CubeVerse software that runs and improves the hardware CubeExplore & CubeStudio Intelligence-guided ROI and design CubeVerse Access & Deploy SSO, unified software & firmware CubeFleet Maintenance by real robot usage CubeAnalytics Multi-site One view across every site NEW UPDATE NEW UPDATE NEW NEW UPDATE NEW UPDATE UPDATE Fall 2026 Product Announcement Building a more autonomous and intelligent fulfillment platform
Page 7
Expansion journey to date Logiqs as the technology foundation for expanding into roaming pallet AS/RS AutoStore to acquire Logiqs, enabling future expansion into roaming pallet AS/RS CubeVerse Design · Analytics · Operate · AutoStore Intelligence Expanding offering Continue investing in innovation to enhance our offering, while selectively expanding into adjacent areas and use cases through organic development and strategic acquisitions • Based in the Netherlands • Deployed at 30 warehouse customer sites • ~60 employees in new tech area for AutoStoreAdding more adjacent workflows + Buffering & Consolidation Case Handling Robotic Piece Picking Multi-temperature & frozen
Page 8
autostoresystem.com 1. As per end of Q3 2026, includes installed base and backlog 8 Opportunities for expansion across a wide range of end-markets 2. End markets include aviation, aerospace and defense, building and construction, machinery and other industrials 3. End markets include toys and games, office supplies, home supplies, generalist retailer, books & media, and public sector & services End-market # of systems1 2025 share of revenue Selected blue-chip customers Apparel / Sports accessories ~ 280 17% Industrials2 ~ 670 23% 3PL ~ 230 10% Other retail3 ~ 220 13% Grocery ~ 160 7% Automotive ~ 170 10% Healthcare ~ 200 6% Luxury & Personal Care ~ 50 6% Consumer electronics ~ 70 8%
Page 9
autostoresystem.com Parts Authority serves service centers, jobbers, fleets and national accounts, and runs e-commerce fulfilment. Volume has roughly tripled since the facility opened in 2022, and the company was running out of space. Scott Hooper Senior Account Executive, KPI Solutions 9 Customer case: Parts Authority “ We were able to shrink the footprint requirements for the building from three to one but triple the number of SKUs that are in the building too Installations 2 Bins 202K R5 Robots 190 Ports 17 ” Parts Authority is a US automotive aftermarket distributor with over 250 locations and a catalog of over 3 million parts About 70% of picked items fit in a bin, which made AutoStore the cornerstone. 6x improvement in throughput, almost four times faster picking, well over 99% system uptime and three times as many SKUs on a third of the footprint.
Page 10
autostoresystem.com 10 Placeholder video
Page 11
Q3: Financials
Page 12
autostoresystem.com 1. Adj. EBITDA margin and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2026 report 2. Defined as Adj. EBITDA less cash CAPEX divided by Adj. EBITDA 12 Q3 key financial overview Revenue +0.0% QoQ and +38.2% YoY $192m Gross margin -0.9p.p. QoQ and -1.8p.p. YoY 71% Adj. EBITDA margin1 -2.6p.p. QoQ and -4.8p.p. YoY 42% Cash flow conversion2 78% Order intake -18.3% QoQ and +16.5% YoY $178m Order backlog -2.4% QoQ and +7.2% YoY $582m
Page 13
autostoresystem.com Order intake ($ million) 13 Order intake up YoY with healthy backlog; highest Q3 order intake on record Order backlog ($ million) 152 194 179 218 178 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 +17% 543 557 571 596 582 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 +7%
Page 14
autostoresystem.com Revenue 14 Continued strong growth driven by North America, with deliveries to several large customers Revenue by region EMEA NAM APAC($ million) ($ million) 139 180 166 192 192 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 +38% 35 43 54 40 68 95 130 101 141 115 9 Q3’25 7 Q4’25 11 Q1’26 11 Q2’26 139 180 166 192 Q3’26 192 9
Page 15
autostoresystem.com Gross marginSustainable gross margin Gross profit ($ million) 15 Margins remain strong balanced with increased investment to drive growth Adj. EBITDA margin1 Adj. EBITDA ($ million) 47% 43% 44% 45% 42% Gross margin Adj. EBITDA margin 73% 74% 73% 72% 71% • Gross margin remains strong, despite delayed impacts of commodity prices • Enhanced resilience to raw material cost fluctuations through proactive sourcing and supplier management • Strong profitability reflects the scalability of the business model • Investment in growth expected to continue, while maintaining strong profitability Adj. EBITDA margin1 1. Adj. EBITDA margin and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3 2026 report 102 133 121 139 137 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26 66 78 73 86 81 Q3’25 Q4’25 Q1’26 Q2’26 Q3’26
Page 16
autostoresystem.com Movement in net debt in Q3 2026 ($ million) Observations 16 Strong financial position with net debt ratio of 0.2x • Net debt reduced by $49 million in the quarter, notwithstanding share buy-back: o RCF remains undrawn o Term loan $147 million ($140 million net of unamortized fees) o Lease liabilities $52 million o Cash balance increased by $47 million to $151 million • Significant liquidity headroom with $350 million undrawn revolving credit facility and $151 million in cash • Net debt ratio2 of 0.2x 1. Net debt excludes unamortized fees to align with the financial covenant calculation 2. Net debt ratio is defined as interest-bearing debt incl. lease liabilities, less cash, divided by last-twelve months adjusted EBITDA. 97 48 74 28 27 18 Net debt 30 June1 EBITDA contribution incl. tax paid Share buyback Working capital CF from investing activities 3 CF from financing activities 3 FX on cash and debt Net debt 30 Sep
Page 17
autostoresystem.com 17 Capital allocation priorities Disciplined approach to capital allocation supporting profitable and sustainable growth 1. Organic investment Reinvest in the business to support organic growth and continue defining the industry with innovation 2. Strategic M&A Maintain flexibility for strategic M&A, including technology and adjacent markets 3. Shareholder returns Return surplus cash to shareholders Maintain a strong balance sheet and leverage position Acquisition of Logiqs for a cash consideration of up to $34 million. As of November 4, $53 million has been returned under the share buy-back program of up to $75 million announced in August.
Page 18
Q&A
Page 19
autostoresystem.com Key takeaways 19 03 Exciting future in very attractive market, with long runway for growth 02 Investing in our leading position through innovation 01 Significant strategic progress delivering strong financials
Page 20
Appendix
Page 21
autostoresystem.com 1. As per end of Q3 2026, includes installed base and backlog 2. As per end of Q3 2026 21 The Intelligent Fulfillment solution Global scale and leading position in the warehouse automation market Scaled and global platform Customers and partners Superior financial profile 68 ~96,500 ~2,050 269 21 ~3,000 ~1,350 1-3 years ~$750m 72% 44% 82% Countries Robots1 Systems1 R&D FTE2 Partners3 Certified sales representatives Unique customers Customer payback period Raised FY 2026 guidance Gross margin LTM Adj. EBITDA margin LTM FCF conversion 5 LTM Broad exposure to all end markets4 ~55% 3.Merger between three Partners 4.Historical average (2021 – Q3’26) 5. Defined as Adj. EBITDA less cash CAPEX divided by Adj. EBITDA Sales to existing customers
Page 22
autostoresystem.com 2026 2025Profit/loss for the period 40498363.8517876 -2653946.70443683Income tax 9820362.60108245 - 711909.87583076Net financial items 2780785.40334963 11166115.4978493EBIT 53099511.8562197 7800258.91758175Depreciation 5026417.49517072 4315701.22531422Amortization of intangible assets 12504289.4724033 9541470.50862831Impairment 6127.74936235175 10468.3077372407EBITDA¹ 70636346.573156 21667898.9592615Ocado Group litigation costs 0 0Option costs 1900000 -600000Transformation costs² 0 0ERP system implementation costs 400000 0Total adjustments 2300000 -600000Adjusted EBITDA¹ 72936346.573156 21067898.9592615Total revenue and other operating income 165759888.44032 85938278.8245142EBITDA margin¹ 0.426136547495252 0.252133266521515Adjusted EBITDA margin¹ 0.440012039459208 0.245151511613144 22 Presentation of Adj. EBITDA1 breakdown 1. Adj. EBITDA and other alternative performance measures (APMs) throughout the presentation are defined and reconciled to the financial results as part of the APM section of the Q3’2026 report