The Automation Expert Element Logic achieved its best-ever results in 2020. Record growth in e-commerce, along with an increased focus on retail efficiency and expansion into new markets, contributed to 40 percent growth compared with 2019.
The company’s operating profit (EBITDA) also reached a record high in 2020, at 16 million euros, which is double the figure from the previous year. The order backlog grew by 60 percent during the year, to 64 million euros, and revenue exceeded 100 million euros in 2020. The Swedish subsidiary Element Logic AB was the main contributor to the strong results in 2020.
“We’re naturally proud that so many companies have taken notice of Element Logic here in the Swedish market—a clear indication that the path we’ve been following over the past few years has been exactly the right one,” says Thomas Karlsson, Managing Director at Element Logic, Sweden.
– After 30 years in the industry, 2020 has been our best year yet. Automated and efficient warehouses are a clear trend across all markets and industries, resulting in significant opportunities for our industry—something we’ve been actively working toward,” says Dag-Adler Blakseth, CEO of Element Logic, adding:
– We have achieved growth in the Scandinavian markets that exceeds our original plans and budgets. The incredible growth in online shopping has been crucial to our success, and we’re pleased to see Element Logic growing rapidly while we increase our market share. Our growth is a result of our DNA, our expertise, and our focus.
Consumer expectations shape the market
Online shopping as a trend will continue to grow in 2021. Blakseth believes that consumer expectations regarding availability and fast deliveries will shape and transform the retail industry for many years to come.
– We predict that fewer industries will be viewed solely as a physical space. We believe that consumers’ willingness to pay for faster deliveries will increase, creating new demands for efficient logistics. This will lead to a shift toward smaller warehouses located closer to customers to achieve faster deliveries. This trend is already evident in several markets,” says Blakseth.
“We see a great opportunity to further expand our business and reach new segments with our products and solutions, where we anticipate that the food industry will take further steps toward automation in order to meet consumer needs,” says Thomas Karlsson.
Ready for Future Growth
In February 2020, Element Logic secured full distribution rights for AutoStore in Europe, which enabled the company to expand and establish new operations in additional countries. As a result of the agreement, Element Logic has launched full-scale operations in Poland and the Benelux region, and further expansion into new markets is planned for 2021.
