![]() ![]() In March this year, Element Logic acquired the American company SDI, a supplier of turnkey automation and sorting solutions. “The combination of our expertise and strong ambitions with a professional partner like Castik Capital on board opens several opportunities for further growth”, Dag-Adler Blakseth says. 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. In June 2021, the Castik Capital acquisition fund entered as a majority owner of Element Logic. We succeed because of our strategy to safeguard and develop our market-leading position in established markets while accommodating profitable growth in new ones”, Dag-Adler Blakseth explains, Chief Executive Officer of Element Logic. The largest growth is in Denmark and Sweden, closely followed by Germany and Norway. “We are thrilled to mark another record year with profits and growth in all established markets. 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. Ordinary profits after taxes were 14 million EUR. The EBITDA came to 39 million EUR, an increase of 123 percent from 2020. The Norwegian technology and intralogistics company increased its turnover by 130 percent from 100 million EUR in 2020 to 230 million EUR in 2021. This has resulted in another record year for Element Logic. Increased e-commerce and expectations of fast deliveries contribute to an increased demand for automated logistics solutions worldwide.
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