{"id":756,"date":"2023-06-06T09:00:00","date_gmt":"2023-06-06T07:00:00","guid":{"rendered":"https:\/\/www.elementlogic.net\/?p=1367"},"modified":"2026-01-07T04:15:59","modified_gmt":"2026-01-07T04:15:59","slug":"another-record-year-for-element-logic","status":"publish","type":"post","link":"https:\/\/www.elementlogic.net\/us\/news\/another-record-year-for-element-logic\/","title":{"rendered":"Another record year for Element Logic"},"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\">Another record year for Element Logic<\/h1>\n<\/div>\n\t\t<\/div>\n\n<figure class=\"alignwide wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"674\" src=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/record-year-Element-Logic.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"GLOBAL EXPANSION: In 2023 Element Logic\u2019s Group Management Board consists of (from left to right): Krish Nathan (CEO Americas), H\u00e5vard Hall\u00e5s (Group Chief Commercial Officer), Rikke Aas (Group Chief People &amp; Culture Officer), Linda Pedersen (Group Chief Finance Officer), Dag-Adler Blakseth (Group CEO), Eir Bj\u00f8rkly (CEO Europe), and Armin Gesslein (CEO APAC).\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/record-year-Element-Logic.jpg 1200w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/record-year-Element-Logic-300x169.jpg 300w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/record-year-Element-Logic-1024x575.jpg 1024w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/record-year-Element-Logic-768x431.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/figure>\n\n<p class=\"t2-ingress wp-block-t2-ingress\">Doubled turnover for the second year in a row. \u201cOur aim is to revolutionize warehousing worldwide\u201d, says Group CEO in Element Logic, Dag-Adler Blakseth.<\/p>\n\n<div class=\"wp-block-dekode-post-date\"><span class=\"date-published\">Published <time datetime=\"2023-06-06T09:00:00+00:00\">June 6, 2023 9:00 am<\/time><\/span> <\/div>\n\n\n<p><strong><em>FOR IMMEDIATE RELEASE \u2013 LOS ANGELES, June 2023\u202f<\/em><\/strong>\u00a0<\/p>\n\n\n\n<p><em>GLOBAL EXPANSION: In 2023 Element Logic\u2019s Group Management Board consists of (from left to right): Krish Nathan (CEO Americas), H\u00e5vard Hall\u00e5s (Group Chief Commercial Officer), Rikke Aas (Group Chief People &amp; Culture Officer), Linda Pedersen (Group Chief Finance Officer), Dag-Adler Blakseth (Group CEO), Eir Bj\u00f8rkly (CEO Europe), and Armin Gesslein (CEO APAC).<\/em>&nbsp;<\/p>\n\n\n\n<p><strong>The tech-company doubles its turnover for the second year in a row, \u201cOur aim is to revolutionize warehousing worldwide\u201d, Dag-Adler Blakseth, Group CEO at Element Logic, said.<\/strong>&nbsp;<\/p>\n\n\n\n<p>$523 million was Element Logic\u2019s turnover in 2022. An adjusted turnover growth of more than 100 percent compared to 2021*.&nbsp;<\/p>\n\n\n\n<p>Other key figures for 2022:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The EBITDA came to $61.3 million.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ordinary profits after taxes were $29.5 million.\u00a0<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The cash holdings at the end of 2022 were $39.8 million.\u00a0<\/li>\n<\/ul>\n\n\n\n<p>Group CEO, Dag-Adler Blakseth, points out three reasons why we can celebrate doubling its turnover for yet another year.&nbsp;<\/p>\n\n\n\n<p>\u201cFirstly, we operate in a market with generally strong growth. Secondly, we have dedicated and strategically oriented sales teams. And thirdly, we deliver good solutions without long delivery times\u201d, Blakseth says.&nbsp;<\/p>\n\n\n\n<p>Inflation, supply chain backlogs, record high energy prices, and geo-political instability filled 2022, which lead to dramatic changes within the industry. The macro level trends also affected the intralogistics industry.&nbsp;<\/p>\n\n\n\n<p>\u201cWe have less predictability than before. This leads to more uncertainty within a business, but also among customers. Decision-making processes lasted much longer in 2022 than in 2020 and 2021. However, we showed that we handled the new situation very well\u201d, Blakseth explained.&nbsp;<\/p>\n\n\n\n<p>And one important move from Element Logic in 2022 was to cross the Atlantic.&nbsp;<\/p>\n\n\n\n<p><strong>From one continent to three<\/strong>&nbsp;<\/p>\n\n\n\n<p>2022 became the year where Element Logic went from being a European company to a global player. In March last year they acquired the American company SDI \u2013 a supplier of turnkey automation and sorting solutions. With the acquisition of SDI, Element Logic expanded to 8 new locations in the US and Latin America.&nbsp;<\/p>\n\n\n\n<p>\u201cThe acquisition of SDI was an important milestone for us. We have entered the US market together with a strong partner who accelerates our growth strategy and fits us very well\u201d, Blakseth says.&nbsp;<\/p>\n\n\n\n<p>Recently Element Logic was listed among the top 20 system suppliers in the world by the American magazine Modern Materials Handling. Blakseth emphasized that Element Logic\u2019s global expansion has only just begun:&nbsp;<\/p>\n\n\n\n<p>\u201cThis year we are expanding into the Asia-Pacific region. In Element Logic we aim to revolutionize warehousing worldwide, and we see great opportunities going forward.\u201d&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/dag-adler-blakseth.jpg\" alt=\"dag-adler blakseth\" class=\"wp-image-1762\" srcset=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/dag-adler-blakseth.jpg 1024w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/dag-adler-blakseth-300x169.jpg 300w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2023\/06\/dag-adler-blakseth-768x432.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Nearly four decades in charge: Group CEO, Dag-Adler Blakseth, founded Element Logic together with his brother back in 1985.&nbsp;<\/p>\n\n\n\n<p><strong>Continuous search for smarter solutions<\/strong>&nbsp;<\/p>\n\n\n\n<p>As a tech company, Element Logic is in constant need of development. In 2022 they added new expertise and capacity to their team. One important milestone was the acquisition of the German software company, S&amp;P Computersysteme \u2013 a leading provider of IT solutions within the field of intralogistics.&nbsp;<\/p>\n\n\n\n<p>\u201cWith S&amp;P Computersysteme on our team we can increase our competence and capacity to innovate, integrate, and connect hardware and software solutions. This is key for us to continue developing and offering our customers the best solutions\u201d, Blakseth explains.&nbsp;<\/p>\n\n\n\n<p>Element Logic also made important moves within the field of intralogistics in 2022 by partnering up with the robotics and automation company, Addverb Technologies, who provides Autonomous Mobile Robot solutions.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/\/2024\/09\/Warehouse-automation_Element-Logic-1024x683.jpg\" alt=\"element logic arm grabbing product.\" class=\"wp-image-495\" srcset=\"https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2024\/09\/Warehouse-automation_Element-Logic-1024x683.jpg 1024w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2024\/09\/Warehouse-automation_Element-Logic-300x200.jpg 300w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2024\/09\/Warehouse-automation_Element-Logic-768x512.jpg 768w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2024\/09\/Warehouse-automation_Element-Logic-1536x1025.jpg 1536w, https:\/\/www.elementlogic.net\/content\/uploads\/sites\/8\/2024\/09\/Warehouse-automation_Element-Logic.jpg 2000w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">FUTURE: As our technology evolves, so does the level of warehouse automation. Get to know our piece-picking robotic arm, eOperator.<\/figcaption><\/figure>\n\n\n\n<p>RELIABLE ROBOT: Element Logic\u2019s robotic arm, eOperator, picks goods for the Swedish online Pharmacy, Apotea.&nbsp;<\/p>\n\n\n\n<p>\u201cThanks to our collaboration with Addverb Technologies, we can now offer our customers a wide range of intralogistics solutions that all work together: AutoStore, eOperator, and AMRs\u201d, Blakseth said.&nbsp;<\/p>\n\n\n\n<p>\u201cThis is exactly what today\u2019s customers expect. They don\u2019t want to pick solutions from three or four different suppliers, they want to get it all from one systems integrator. This will be even more important in the future, and we want to be a preferred supplier and partner all over the world\u201d, he concluded.&nbsp;<\/p>\n\n\n\n<p><em>* Element Logic\u2019s 2021 results were based on Norwegian accounting rules (NGAAP), while the 2022 figures are according to international accounting rules (IFRS).<\/em>&nbsp;<\/p>\n\n\n\n<p><strong>For more information, please contact:<\/strong>&nbsp;<\/p>\n\n\n\n<p>Mar\u00edaElena Ladr\u00f3n de Guevara, Director of Marketing \u2013 Americas&nbsp;<\/p>\n\n\n\n<p>Email:\u202fmaria.elena@elementlogic.us&nbsp;<\/p>\n\n\n\n<p>Phone: +1 818.890.8002 EXT.279&nbsp;<\/p>\n\n\n\n<p><strong>About Element Logic<\/strong>\u202f\u202f\u202f&nbsp;<\/p>\n\n\n\n<p>Element Logic is a technology company that optimizes warehouses for customers to gain a competitive edge. The company was founded in 1985 and is headquartered in Norway. It operates worldwide and is the world\u2019s first and largest AutoStore-partner. Element Logic offers its customers automated robotic solutions, software, and consulting services. Total revenue for 2023 was US$510 million.\u202f\u202f&nbsp;<\/p>\n\n\n\n<p>For more information go to\u202f<a href=\"https:\/\/www.elementlogic.net\/\" target=\"_blank\" rel=\"noreferrer noopener\">elementlogic.net\u202f<\/a>and follow on\u202f<a href=\"https:\/\/www.linkedin.com\/company\/2759243\/admin\/\" target=\"_blank\" rel=\"noreferrer noopener\">LinkedIn<\/a>, <a href=\"https:\/\/www.facebook.com\/ElementLogic\" target=\"_blank\" rel=\"noreferrer noopener\">Facebook<\/a> and <a href=\"https:\/\/www.youtube.com\/@Element-Logic\" target=\"_blank\" rel=\"noreferrer noopener\">YouTube<\/a>.\u202f\u202f&nbsp;<\/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-learn-more-about-how-element-logic-can-optimize-your-warehouse-performance\">Want to learn more about how Element Logic can optimize your warehouse performance? <\/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\/us\/contact-us\/\">Get in touch today<\/a><\/div>\n<\/div>\n\n<\/div>\n\t\t<\/div>\n\n\n<p><em>This press release was formerly under the name \u201cSDI Element Logic\u201d. \u202fIt has been changed to reflect our current name \u201cElement Logic\u201d.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FOR IMMEDIATE RELEASE \u2013 LOS ANGELES, June 2023\u202f\u00a0 GLOBAL EXPANSION: In 2023 Element Logic\u2019s Group Management Board consists of (from [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"hreflang_relation":0,"_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,"content-type":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"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>Another Record Year for Element Logic\u2019s Growth &amp; 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