Element Logic achieves record results after doubling its turnover in 2021

The first and largest AutoStore partner shoots its turnover to 230 million euros in 2021

Element Logic exceeds its economic forecasts in the closing results of 2021. The integrator specialized in automated storage solutions focused on the AutoStore system concludes the year with a historical turnover of 230 million euros, which represents an increase of 104% compared to the 100 million harvested in 2020.

From the company they attribute this result to the unstoppable increase in e-commerce and the expectations of ultra-fast delivery, which are contributing to a greater demand for automated logistics solutions throughout the world.

The gross operating profit (Ebitda) increased by 123% in the last financial year, standing at 39 million euros, and ordinary profits after taxes reached 14 million euros. For its part, the level of cash also maintains an upward path, going from 34 million to 48 million euros at the end of 2021, with a positive cash flow of 14 million euros.

"We are very pleased to continue breaking records and to have achieved profits and growth in all the markets in which we are present", says Dag-Adler Blakseth, CEO of Element Logic, for whom "these results are the result of our strategy aimed at safeguarding and strengthen our leadership position in established markets, while achieving profitable growth in new ones."

Element Logic faces 2022 with the prospect of continuing to grow and offer the best storage solutions for its customers. “It is crucial to continuously help our customers to have the best storage and logistics solutions. Our aspiration is to be the number one option. With the new owners, the acquisition of SDI and the agreement reached with AutoStore to expand worldwide distribution rights, we are ready to face another exciting year”, concludes the CEO of Element Logic.