THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
• Omnichannel Futures Conference 2020
• Online Conversion Summit 2020
• Future of Retail Marketing 2020
• The HR Summit 2020
• AI in Retail Conference 2020
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Ocado EBITDA down 20.7%

Ocado saw its EBITDA fall by 20.7% to £59.5 million in the year to 2 December as the company invested in a new distribution centre and… View Article

FOOD & DRINK

Ocado EBITDA down 20.7%

Ocado saw its EBITDA fall by 20.7% to £59.5 million in the year to 2 December as the company invested in a new distribution centre and technology.

Group revenue increased by 12.3% to £1.59  billion as the number of orders per week climbed by 12% to 296,000. There was also an uplift in the number of active customers which rose by 11.8% to 721,000.

Tim Steiner, chief executive of Ocado, said: “Our performance last year was the result of many years of focus, dedication and perseverance: what we have called our “18-year overnight success”. Our growth story, however, is only just beginning. We now have in place a platform for significant and sustainable long-term value creation as the leading pure-play digital grocer in the UK, a world-leading provider of end-to-end ecommerce grocery solutions, and as an innovative and creative technology company applying our proprietary knowledge to a range of challenges.”

During the year, Ocado secured international partnerships with Sobeys, ICA and Kroger to supply them with its online shopping and delivery technology. The company said it is preparing the business to open 23 customer fulfilment centres for its solutions partners in the coming years.

Ocado has also opened a fourth UK customer fulfilment centre in Erith in south London. At full capacity of £1.2 billion, the company said it will be the largest automated grocery fulfilment centre in the world.

Looking ahead, Steiner said: “Our transformation journey is well under way with increased cash fees earned and greater investment as we execute on behalf of our partners. Creating future value now will involve us continuing to scale the business, enhancing our platform, enabling our UK retail business to take advantage of all its opportunities for growth, and innovating for the future. We look forward to fulfilling these opportunities with excitement and determination.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London W1G 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Online Conversion Summit 2020
Online Conversion Summit 2020
April 30 2020
The Hallam Conference Centre, London W1W 6JJ
The Retail Bulletin Online Conversion Summit 2020 Partnered by IMRG
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2020
AI in Retail Conference 2020
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY