Ocado Results Presentation Deck
Labour challenges of 2H easing
Erith disruption, compounded by labour shortages,
constrained growth into fresh capacity in 2H21
Significant increase in live capacity in FY21,
with weighting to the second half
Total capacity (100%)
FY20
Share of capacity utilised
FY21
2H21
Impact of entry into FY22 on
lower utilisation already reflected in guidance
Expect strong mid teens revenue growth in Ocado
Retail in FY22, driving improved capacity utilisation
Good progress on labour shortages;
expected resolution in 2Q22
£7m
2H21 investment in
temporary labour incentives
3.5%
vacancy rate, down
from 8% at Oct-21 peak
Operating leverage supports
EBITDA margin recovery in medium term
Ambition for EBITDA margin to rebuild towards FY21 levels following significant year of investment in FY22
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