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IFRS compliance

Case study

icon1 Automation
icon2 Oslo, Norway
icon3 300+

Company overview

AutoStore, a pioneering warehouse robot technology firm, was founded in 1996. Known for their innovative cube storage automation, they offer the densest order-fulfillment solution available today. The company boasts high-profile investors like SoftBank, Thomas H. Lee Partners, and EQT, and has established a global presence. As part of its commitment to fostering employee loyalty and motivation, AutoStore established an equity program.

CHALLENGE

AutoStore faced significant challenges in administering their equity program.

The use of Excel and other manual processes, while initially effective, proved cumbersome and inefficient as the company grew. Increased manual workload and difficulty in tracking data, employee details, and outstanding values emphasized the need for a more streamlined solution.

OPTIO'S SOLUTION

In 2020, AutoStore turned to Optio to improve the administration of their equity program. Optio's platform offered automated processes and intuitive software, enabling AutoStore to manage their program more effectively. The platform also enhanced transparency for employees by providing visualization and easily comprehensible information, thereby increasing the perceived value of the program.*

IPO AND BEYOND

With Optio's help, AutoStore successfully listed on the Norwegian stock exchange in 2021, marking the largest IPO in Norway in two decades.

Optio was instrumental in AutoStore's journey to becoming a public company. The Optio platform assisted with equity instrument valuation and IFRS 2 cost reporting, providing vital data and ensuring compliance for the finance and accounting department. With Optio's help, AutoStore successfully listed on the Norwegian stock exchange in 2021, marking the largest IPO in Norway in two decades. Optio continued to support AutoStore post-IPO with the implementation of a share purchase program for all permanent employees, designed to align their interests with shareholders and foster long-term commitment.

Optio continued to support AutoStore post-IPO with the implementation of a share purchase program for all permanent employees, designed to align their interests with shareholders and foster long-term commitment. The entire process was conducted via Optio’s software, which facilitated the purchase, shareholding, and administration of the program. The share purchase program, part of AutoStore’s compensation package, aimed to attract and retain competent and motivated employees.

Anette Matre, Chief People & Information Officer at AutoStore, shares: "Optio Incentives have been an extremely solution-oriented and pragmatic business partner for our needs within managing our option- and share programs, as well as during the IPO-process. They are an important partner for administering and advising us on all running compensation programs on a variety of issues. Optio is oil in our machinery for programs that are important to our employees and just 'need to work' and be accurate from a reporting, administering, and tax-/regulations perspective."

Optio takes pride in its partnership with AutoStore, one of Norway's most prominent technology companies and a globally recognized brand. With a focus on automation, transparency, and efficient management of equity programs, Optio continues to provide essential support to AutoStore's growth journey.

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Our services evolve to meet the changing needs of your expanding business.

RESULTS

How it works now

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    Awards automation

    AutoStore got access to our platform, rigged for future growth and with the possibility of awarding all types of instruments.

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    Reporting

    AutoStore receives IFRS-compliant reports every quarter.

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    Full instruments overview

    System administrators can access all historical awards and costs.

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