Element Logic has once again exceeded its best forecasts after doubling its turnover for the second consecutive year. The integrator specialized in automated storage solutions focused on the AutoStore system has closed 2022 with a historic turnover of 490 million euros, which represents an increase of more than 100% compared to the 230 million reached in 2020.
The gross operating result (Ebitda) has increased by 47% in the last year, up to 57.5 million euros, and ordinary profits after taxes have reached 27.7 million euros. For its part, the treasury level stood at 37.4 million euros at year-end. These data do not include the results of SDI Industries, a company acquired by Element Logic in March 2022.
Element Logic CEO Dag-Adler Blakseth highlights the top three reasons that have allowed the company to continue breaking records. “First, the markets in which we operate are generally showing strong growth. Second, we have highly specialized and strategically oriented sales teams. And finally, another of our competitive advantages is our ability to offer quality solutions without long lead times,” says Dag-Adler Blakseth.
Element Logic has also taken a big leap in its internationalization plans in 2022 with the acquisition of SDI Industries, a provider of turnkey sorting and automation solutions. This operation has allowed it to cross the Atlantic and expand to 8 new locations in the US and Latin America.
“This year we are expanding into the Asia-Pacific region. At Element Logic, we aspire to revolutionize storage around the world, and we see great opportunities opening up for the future,” concludes Dag-Adler Blakseth.
