Headquartered in Hatfield, Hertfordshire, England, UK, Ocado Retail is a joint venture between Marks & Spencer Group and Ocado Group with annual revenue of £ 2289.9 million in 2021.

Table of Content

Financial Highlights Half-Yearly YoY Financial Comparison H1 2022 Highlights
 

Ocado Financial Highlights

  • Revenue fell 4.4% due to Ocado Retail's adverse economic climate (-8.3%); lower basket sizes/value post-pandemic, worsened by the cost-of-living issue
  • EBITDA reduced by £74.6m during the half year of 2022
  • For H1 2022, the underlying loss before tax climbed by £123.4m 
  • The gross margin of the company reduced to 34.3% during the first half of 2022 as compared with 36% last year during the same period

Source: H1 FY22 Results

 

Half-Yearly YoY Financial Comparison

  • Total company revenue was £1.3 million during the half year in 2022, compared to £1.2 million for the same period last year
  • The expense ratio went up from approximately 98.9% during the half year of 2021 to 114.1% in the same period this year
  • The operating profit ratio went negative from (1.1)% during the half year of 2021 to -14.1% for the same period this year
  • Profit/loss for the period ratio decreased from (-2.6)% during the first half of 2021 to -16.8% for the same period this year

‍Source: H1 FY22 Results

H1 2022 Highlights - Ocado

  • Eight of the top grocery merchants in the world are currently using the Ocado Smart Platform to operate their online grocery operations. Next year, Ocado will add 3 more partners to OSP
  • Of the 58 CFCs that have been contractually committed, the business has currently opened 16 of them abroad. Each of these CFCs will produce robust, consistent cash flows and alluring returns on investment
  • Strong new partner pipeline; Ocado expects to close additional partnerships in H2
  • At the beginning of the year, Ocado came up with 7 innovations which they collectively named “Re:Imagined”. The customer experience and the economics of online grocery shopping are being redefined by “Re:Imagined”
  • The company took steps to increase automation via the deployment of OGRP (On-Grid Robotic Pickup) and AFL (Automated Frameload Solution)
  • The company opened up its first fully automated micro-fulfillment center in Canning Town during H1 2022

Source: H1 FY22 Results