)
Visual22 Oct 2025
Kodak and Fujifilm revenue comparison between 1995 and 2012
Ocado Group (OCDO) investor relations material
Ocado Group H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary17 Jul, 2025
Executive summary
Group revenue rose 13% year-over-year to £674m, with strong growth in Technology Solutions and Logistics, and adjusted EBITDA up £40m to £92m, driven by disciplined execution and cost control.
Ocado Retail was deconsolidated in April 2025, now equity accounted, resulting in a non-cash gain of £783m and a statutory profit of £611.8m.
Focus remains on achieving cash flow positivity in FY26 and full-year positive cash flow in FY27, supported by lean operations and capital allocation.
Significant international expansion with launches in South Korea, Saudi Arabia, Spain, and Australia, and strong engagement with partners like Kroger and Coles.
Strategic priorities include evolving the commercial strategy and leveraging new opportunities as exclusivity terms roll off.
Financial highlights
Group revenue up 13% year-over-year to £674m; Technology Solutions up 15%, Logistics up 12%.
Adjusted EBITDA increased to £92m (+£40m YoY), with Technology Solutions EBITDA at £73m and margin at 26% (22% excluding one-off fees).
Underlying cash outflow improved by £93m to £108m; liquidity at end-June near £1.2bn, including £866m cash and a £300m undrawn revolving credit facility.
Ocado Retail revenue up 16% to £1,526m, adjusted EBITDA up £12m to £33m, with underlying margin at 3.3%.
Reported a £783m non-cash gain from the deconsolidation of Ocado Retail.
Outlook and guidance
FY25 guidance reaffirmed: Technology Solutions revenue growth c.10%, Logistics high mid-single digit growth, and group adjusted EBITDA margin 20–25%.
Group underlying cash outflow expected at c.£200m for FY25; on track to achieve cash flow positivity in FY26 and full-year positive in FY27.
Capital expenditure for FY25 expected around £300m.
Focused on reducing fixed costs, especially in technology and support, to support cash flow targets.
c.8 new CFCs to go live over next 3 years; c.150 live modules expected by end FY27.
What are the key levers for FY'26 cash flow?
Impact of exclusivity roll-off on sales strategy?
How does new product breadth impact client journeys?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Ocado Group earnings date
H2 202526 Feb, 2026
Next Ocado Group earnings date
H2 202526 Feb, 2026
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Revolutionary Retailing Solutions
Ocado, headquartered in Hatfield, United Kingdom, is one of the pioneers in the world of online grocery retailing. Established in 2000 by three former Goldman Sachs employees, Ocado has reimagined the way people shop for groceries. With its groundbreaking technology, Ocado has risen to become a leader in online grocery retailing, serving customers across the UK and beyond.
Robot-Powered Warehouses
The most innovative part of Ocado's operation is its robotic warehouse systems. These state-of-the-art systems use a fleet of robots to pick up and pack groceries in an efficient and accurate manner. The robots operate on a three-dimensional grid system, known as "The Hive", allowing them to move in any direction to retrieve items. They are capable of managing a vast range of different products while operating at remarkable speed and precision, and significantly reducing the time required to pack groceries for delivery and shipping.
Driven by technology
This technology has not only revolutionized Ocado's own operations but it's also being licensed to other retailers around the world. The Ocado Smart Platform (OSP) is an end-to-end system that combines hardware and software solutions. It offers other businesses a comprehensive method for digitizing their grocery operations, marking Ocado's transition from a pure e-grocery to a technology provider as well. Ocado's unique selling proposition is its technology. By investing heavily in its warehouse automation and advanced systems, Ocado has managed to stay ahead of many competitors and has set new standards for efficiency and speed in the grocery industry.
A Key Player
Despite being a relatively young company, Ocado has secured a strong position within the online grocery and retail industry, especially in the UK market. It operates a successful partnership model with well-known chains like Marks & Spencer in the UK, ICA in Sweden, and Kroger in the US. Through these partnerships, Ocado combines its technological expertise with the established customer base and brand power of traditional grocers, creating a formidable force in the online grocery sector.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage