{"id":785,"date":"2022-05-05T09:00:00","date_gmt":"2022-05-05T07:00:00","guid":{"rendered":"https:\/\/www.elementlogic.net\/?p=1304"},"modified":"2024-12-16T10:35:19","modified_gmt":"2024-12-16T10:35:19","slug":"element-logic-increased-its-turnover-by-over-100-in-2021","status":"publish","type":"post","link":"https:\/\/www.elementlogic.net\/uk\/news\/element-logic-increased-its-turnover-by-over-100-in-2021\/","title":{"rendered":"Element Logic increased its turnover by over 100% in 2021"},"content":{"rendered":"<div class=\"wp-block-dekode-page-title\">\n\t\t\t<div class=\"dekode-page-title__container\">\n<h1 class=\"wp-block-post-title\">Element Logic increased its turnover by over 100% in 2021<\/h1>\n<\/div>\n\t\t<\/div>\n\n<figure class=\"alignwide wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"2536\" height=\"1406\" src=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/\/2024\/09\/image-51.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51.png 2536w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51-300x166.png 300w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51-1024x568.png 1024w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51-768x426.png 768w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51-1536x852.png 1536w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/16\/2024\/09\/image-51-2048x1135.png 2048w\" sizes=\"(max-width: 2536px) 100vw, 2536px\" \/><\/figure>\n\n<p class=\"t2-ingress wp-block-t2-ingress\">Element Logic\u00ae \u2013 the world&#8217;s first and largest AutoStore\u2122 partner \u2013 has doubled its turnover from last year to \u20ac230 million in 2021.<\/p>\n\n<div class=\"wp-block-dekode-post-date\"><span class=\"date-published\">Published <time datetime=\"2022-05-05T09:00:00+00:00\">May 5, 2022 9:00 am<\/time><\/span> <\/div>\n\n\n<p>Increased e-commerce and expectations of fast deliveries contribute to an increased demand for automated logistics solutions worldwide. This has resulted in another record year for Element Logic.<\/p>\n\n\n\n<p>The Norwegian technology and intralogistics company increased its turnover by 130 per cent from \u20ac100 million in 2020 to \u20ac230 million in 2021. The EBITDA came to \u20ac39 million, an increase of 123 per cent from 2020. Ordinary profits after taxes were \u20ac14 million. The cash holdings also increased from \u20ac34 million to \u20ac48 million at the end of 2021, with a positive cash flow of \u20ac14 million.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.elementlogic.co.uk\/contact-us\/sales\/\">Get in touch to learn more about how Element Logic can optimise your warehouse performance<\/a><\/p>\n\n\n\n\t\t<blockquote class=\"wp-block-dekode-quote\">\n\t\t\t<div class=\"wp-block-dekode-quote__icon\">\n\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 24 24\" height=\"96\" width=\"96\" class=\"t2-icon t2-icon-theme_quote\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M6.7808 16.5288L8.49055 13.5673C8.43289 13.5993 8.36555 13.6217 8.28855 13.6345C8.21155 13.6473 8.13464 13.6538 8.0578 13.6538C7.04114 13.6538 6.17797 13.2958 5.4683 12.5798C4.7588 11.8638 4.40405 11.0038 4.40405 10C4.40405 8.98334 4.7588 8.12017 5.4683 7.4105C6.17797 6.701 7.04114 6.34625 8.0578 6.34625C9.06164 6.34625 9.92155 6.701 10.6376 7.4105C11.3536 8.12017 11.7116 8.98334 11.7116 10C11.7116 10.3513 11.669 10.6783 11.5838 10.9808C11.4985 11.2833 11.3737 11.5718 11.2096 11.8463L8.07305 17.2788C8.00905 17.3904 7.92122 17.4808 7.80955 17.55C7.69805 17.6192 7.57305 17.6538 7.43455 17.6538C7.14739 17.6538 6.93205 17.5288 6.78855 17.2788C6.64489 17.0288 6.6423 16.7788 6.7808 16.5288ZM15.6656 16.5288L17.3751 13.5673C17.3174 13.5993 17.2501 13.6217 17.1731 13.6345C17.0962 13.6473 17.0193 13.6538 16.9423 13.6538C15.9256 13.6538 15.0626 13.2958 14.3531 12.5798C13.6434 11.8638 13.2886 11.0038 13.2886 10C13.2886 8.977 13.6434 8.11225 14.3531 7.40575C15.0626 6.69942 15.9256 6.34625 16.9423 6.34625C17.9461 6.34625 18.8061 6.701 19.5221 7.4105C20.2381 8.12017 20.5961 8.98334 20.5961 10C20.5961 10.3513 20.5535 10.6783 20.4683 10.9808C20.383 11.2833 20.2583 11.5718 20.0943 11.8463L16.9578 17.2788C16.8936 17.3904 16.8058 17.4808 16.6943 17.55C16.5828 17.6192 16.4578 17.6538 16.3193 17.6538C16.0321 17.6538 15.8167 17.5288 15.6731 17.2788C15.5296 17.0288 15.5271 16.7788 15.6656 16.5288Z\" fill=\"var(--t2-icon-fill, #000)\"\/><\/svg>\n\t\t\t<\/div>\n\t\t\t<div class=\"wp-block-dekode-quote__text\">\n\t\t\t\t<p>\u201cWe are thrilled to mark another record year with profits and growth in all established markets. The largest growth is in Denmark and Sweden, closely followed by Germany and Norway. We succeed because of our strategy to safeguard and develop our market-leading position in established markets while accommodating profitable growth in new ones.<\/p>\n<cite>Dag-Adler Blakseth, Chief Executive Officer of Element Logic<\/cite>\n\t\t\t<\/div>\n\t\t<\/blockquote>\n\n\n<h2 class=\"wp-block-heading\" id=\"new-strategic-owners-and-acquisitions\"><strong><strong>New strategic owners and acquisitions<\/strong><\/strong><\/h2>\n\n\n\n<p>In June 2021, the Castik Capital acquisition fund entered as a majority owner of Element Logic. Castik aims to support Element Logic with its rapid organic expansion across Europe and to explore further expansions of its service and software capabilities, partly through selective mergers and acquisitions.<\/p>\n\n\n\n<p>\u201cThe combination of our expertise and strong ambitions with a professional partner like Castik Capital on board opens several opportunities for further growth,&#8221; says Dag-Adler Blakseth.<\/p>\n\n\n\n<p>In March this year, Element Logic acquired the American company SDI, a supplier of turnkey automation and sorting solutions. This happened after reaching a global distribution agreement with AutoStore earlier this year that opened the expansion of Element Logic&#8217;s services and deliveries beyond Europe. Element Logic thus expands to 13 new locations in the US and Latin America (Brazil, Chile, Colombia, Mexico, and Peru). The transaction was completed on April 12th.<\/p>\n\n\n\n<p>\u201cThe acquisition is an important milestone in our global expansion strategy. With SDI, we enter the attractive US market together with a strong partner who accelerates our growth strategy\u201d, Blakseth explains.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"aiming-for-further-growth-in-2022\"><strong>Aiming for further growth in 2022<\/strong><\/h2>\n\n\n\n<p>\u201cFor Element Logic, it is crucial to continuously help our customers make their warehousing and logistics solutions the best possible. Our ambition is to be the number one choice. With new owners, the acquisition of SDI, and an agreement with AutoStore for expanded global distribution rights, everything is set for another exciting year,&#8221; the CEO of Element Logic concludes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-about-element-logic\"><strong><strong>About Element Logic<\/strong><\/strong><\/h2>\n\n\n\n<p>Since 1985, Element Logic\u00ae has been optimising warehouse performance.\u202fWe are the world\u2019s first and largest AutoStore\u00ae partner.\u202fIn 2022, Element Logic acquired SDI, making us one of the largest system integrators in the world.<\/p>\n\n\n\n<p>We specialise in automatic storage and retrieval unit fulfilment systems and design and install tailor-made solutions that streamline our customers\u2019 workflow. Our robotic solutions, material handling systems, software and consulting services help improve our customers\u2019 value chain, increase profitability and meet the end customer&#8217;s expectation of fast delivery. We optimise warehouses of all sizes in various industries, including electronic components, parts distribution, consumer electronics, 3PL, pharmaceuticals, apparel, sports equipment, and more.<\/p>\n\n\n\n<p>Element Logic\u00ae is headquartered in Norway and owned by employees, with the European Private Equity company Castik Capital as the majority owner.<\/p>\n\n\n\n<p>Together, SDI and Element Logic\u00ae operate worldwide with a total revenue of EUR 294 million in 2021 and form a robust system integrator with numerous years of experience in diverse technologies. Their combined regional expertise provides customers with the most competitive solutions across the globe.<\/p>\n\n\n\n\t\t<div class=\"wp-block-dekode-simple-cta\">\n\t\t\t<div class=\"dekode-simple-cta__inner\">\n\n<h3 class=\"wp-block-heading\" id=\"want-to-know-more\">Want to know more?<\/h3>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.elementlogic.net\/uk\/contact-us\/\">Get in touch today<\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>Increased e-commerce and expectations of fast deliveries contribute to an increased demand for automated logistics solutions worldwide. This has resulted [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":354,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"hreflang_relation":1304,"_el_cross_publish_source_blog_url":"","_el_cross_publish_source_blog_id":0,"_el_cross_publish_source_post_id":0,"_el_cross_publish_sync_state":"","exclude_from_search":false,"footnotes":""},"categories":[72],"tags":[],"class_list":["post-785","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-72"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Element Logic increased its turnover by over 100% in 2021<\/title>\n<meta name=\"description\" content=\"Find out how Element Logic\u00ae doubled its turnover to \u20ac230 million in 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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