Highlights

Gross Sales

Gross Sales

£643m

2010: £551m

EBITDA

EBITDA

£27.9m

2010: £22.0m

Net Assets

Net Assets

£173m

2010: £172m

Active Customers

Active Customers

298,000

2010: 262,000

Financial highlights

  • Gross sales1 up 16.6% to £642.8 million
  • Revenue up 16.0% to £598.3 million
  • EBITDA2 up 26.6% to £27.9 million
  • EBITDA3 margin up to 4.7%
  • Operating profit of £1.1 million
  • Net debt of £19.2 million
  • Cash and cash equivalents £92.1 million

Operational highlights

  • Average orders per week up by 18.6% to 110,219
  • Items delivered exactly as ordered 98.3%
  • Deliveries on time or early 92.3%

Strategic highlights

  • CFC1 capacity expansion work making good progress
  • CFC2 building, services and ancillary infrastructure substantially complete
  • Significant initiatives in customer offer including:
    • roll out of own-label
    • Ocado Saving Pass
    • 'shop in shop' development
    • roll out of latest Webshop
    • additional mobile platforms
  1. Gross sales include revenue plus VAT and marketing vouchers.
  2. EBITDA is a non-GAAP measure which we define as earnings before net finance cost, taxation, depreciation, amortisation, impairment and exceptional items.
  3. EBITDA margin is calculated on revenue.