Ocado losses narrow as it ‘significantly’ improves revenue

In the 52 weeks to December 1, total group revenue grew 14.1% to £3.2bn.

Its retail arm increased revenue by 13.9% to £2.7bn, technology solutions grew 18.1% to £496m, and its logistics division increased revenue by 7.6% to £718m.

The group recorded a loss before tax of £374m, an improvement by just over £19m from last year. Total group adjusted EBITDA reached £153m, up from £52m in the same period last year.

Orders increased 12.5% on Ocado.com and it achieved the milestone of one million active customers - with 500,000 orders per week during the fourth quarter.

For the year ahead, Ocado Group expects to see revenue grow above 10% for its retail arm, around 10% for its technology solutions, and high mid-single-digit percentage revenue growth for logistics.

Ocado Group chief executive Tim Steiner said: “Ocado Retail in the UK continues to lead the way as consistently the fastest growing grocer in the market and reaching one million active shoppers for the first time. We have learned valuable lessons from our early global deployments. 

“Over the past year, we’ve significantly increased the number of Ocado experts embedded across our global partners, helping them to hone logistics operations and build new online strategies alongside the Ocado Smart Platform.

“These teams, combined with exciting new enhancements we are set to deliver in 2025, will drive faster growth, more efficient operations, and an even better quality of experience online for shoppers across 11 of the world’s biggest grocery markets.” 

“In 2024, we delivered a shift in the potential of robotics and automation to improve retail supply chains. Our latest technologies have begun to roll out at scale to Ocado’s global partners. This marked a milestone for our technology, with the already market-leading productivity of an Ocado CFC almost doubling over the course of a decade. 

“At the same time, online continues to drive the greatest share of organic growth in the global grocery market. Our partners are well set up to take advantage of this growth with Ocado’s technology, and we have a strong prospect pipeline across grocery, non-grocery and logistics.”