{"id":772,"date":"2022-05-05T09:00:00","date_gmt":"2022-05-05T07:00:00","guid":{"rendered":"https:\/\/www.elementlogic.net\/?p=1304"},"modified":"2026-01-07T04:43:07","modified_gmt":"2026-01-07T04:43:07","slug":"element-logic-increased-its-turnover-with-over-100-in-2021","status":"publish","type":"post","link":"https:\/\/www.elementlogic.net\/us\/news\/element-logic-increased-its-turnover-with-over-100-in-2021\/","title":{"rendered":"Element Logic increased its turnover with 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 with over 100 % in 2021<\/h1>\n<\/div>\n\t\t<\/div>\n\n\n\n<p class=\"t2-ingress wp-block-t2-ingress\">The Norwegian company Element Logic\u00ae \u2013 the world&#8217;s first and largest AutoStore\u2122 partner \u2013 has doubled its turnover from last year to 230 million EUR for 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 percent from 100 million EUR in 2020 to 230 million EUR in 2021. The EBITDA came to 39 million EUR, an increase of 123 percent from 2020. Ordinary profits after taxes were 14 million EUR. The cash holdings also increased from 34 million EUR to 48 million EUR at the end of 2021, with a positive cash flow of 14 million EUR.<\/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>We 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>New strategic owners and acquisitions<\/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\u201d, Dag-Adler Blakseth says.<\/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 allows for the expansion of Element Logic\u2019s 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 12.<\/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 <a href=\"https:\/\/www.autostoresystem.com\" style=\"text-decoration: none;color: inherit\">AutoStore<\/a> for expanded global distribution rights, everything is set for another exciting year\u201d, the CEO of Element Logic concludes.<\/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\/us\/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":0,"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-772","post","type-post","status-publish","format-standard","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>Element Logic Doubles Turnover in Record 2021<\/title>\n<meta name=\"description\" content=\"Element Logic, the world\u2019s first and largest AutoStore partner, more than doubles turnover to \u20ac230 M in 2021\u2014record growth, strong profits, and cash flow.\" \/>\n<meta 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