Chief Executive Officer's Review

"This was a landmark year for Ocado with gross sales up 29% for the year, we have delivered on the targets set out at the flotation. We have continued our focus on improving the customer offer, which has led to a record number of customers and sale...

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Chief Financial Officer's Review

"Strong sales growth has led to Ocado reaching EBIT profitability pre-exceptionals for the second half of the financial year and EBT profitability in the last quarter of the financial year. Achieving profitability clearly demonstrates the operational leverage ...

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Financial Highlights

Gross sales up 29% to £551.1m
Adjusted1 EBITDA up 138% to £22.0m (adjusted1 EBITDA margin 4.0%)
Adjusted1 EBT loss £8.7m
Profitability reached in second half
Adjusted1 H2 EBIT profit £0.9m
Q4 EBT profit £0.3m
Cash (including treasury deposits) of £154.6m at year end
Net revenue up 28% to £515.7m
Operating loss reduced by 63% to £5.4m, including £3.5m of one-off IPO costs
Loss before tax reduced by 52% to £12.2m, including £3.5m of one-off IPO cost
Average orders per week up 31% to 92,916
Items delivered exactly as ordered were 99% for the year
Deliveries on time or early were 95% for the year