Results at a glance
- +12.6% Group revenue improvement
- £71.2m Group Adjusted EBITDA
- £101m Underlying cash outflow improvement vs 1H23
Highlights
Financial Progress
- Strong revenue growth: Group revenue is up 12.6%. Improvements are shown across the Group, with Technology Solutions +22%, Ocado Logistics +6%, and Ocado Retail +11%.
- Group adjusted EBITDA improvement: £71.2m, up £54.6m from £16.6m.
- Underlying cash outflow improvement: of £(197)m: an £101m improvement vs.1H23.
Operational and strategic progress
- Group cost and capital discipline: our operational and financial discipline is unwavering as we focus on driving cost efficiencies.
- Technology Solutions: growth in live modules, alongside strong revenue growth, illustrates good progress. OSP Partner Success remains a top priority as we continue to support our partners’ long-term growth and profitability.
- Ocado Retail: the UK’s fastest-growing food retailer, continues to lead in online grocery with +11% sales growth evidencing continued demand in the channel and Ocado Retail’s leading customer proposition.
Downloadable content
"The global channel shift to online has now resumed and Ocado is uniquely well-positioned to take advantage of the opportunity. Our technology is delivering high levels of productivity and customer satisfaction. In the UK, Ocado Retail continues to lead the way in online grocery, and internationally we have received orders for new capacity, with a number of our partners reporting strong digital sales growth year-on-year. The success of our partners is our top priority, and we are focused on helping them execute their online strategies to deliver attractive returns from their investment in our technology. While there remains more to do, we look forward to making continued progress over the rest of the financial year and beyond, as we build a profitable, cash-generating, technology business”.
Tim Steiner, CEO and Founder of Ocado Group
Results table
Related Content
FY23 Results
Reports and Presentations
