1️⃣ Financial Highs and Lows 📈
Ocado, the pureplay grocery giant, managed to flip the script from a £74.1M loss in 2022 to a £51.6M EBITDA win in 2023. Despite a hefty £394M pre-tax loss, it's all smiles with a 9.9% sales jump to £2.8B. Tim Steiner, the CEO, is betting big on their tech to boost partner returns and is eyeing the non-grocery market with hawk eyes.
2️⃣ Legal Squabbles ⚖️
Ocado's not just about the groceries; they're also getting their legal gloves on with M&S over a £190.7M payment dispute. Five years into their online food love affair, Ocado claims M&S is holding back on a final payment. M&S, however, begs to differ, citing unmet targets. Ocado's response? "We have a very solid case." Legal drama, aisle five!
3️⃣ Retail Rollercoaster 🛒
It's not all courtroom drama; Ocado Retail is back in black with a £10.4M EBITDA, up from a £4M loss. Sales at Ocado Retail soared to £2.4B, a nice bump from £2.2B. Active customers are up, and though baskets are lighter, they're more valuable. It's a bumpy ride, but Ocado's steering towards a profitable horizon.
4️⃣ Looking Ahead 🔮
Steiner's vision for Ocado is clear: leverage tech to solve complex challenges and innovate at breakneck speed. With a focus on partner success and an eye on new markets, Ocado's plotting its course for growth, stronger cash flows, and higher returns. The journey's fraught with legal hurdles and financial dips, but Ocado's ready to roll.
❓ What's your take on Ocado's future?
