Ocado Results Presentation Deck
International Solutions: starting to recognise material revenue
£ million
Fees invoiced
Revenue¹
EBITDA
FY 2021
143.0
66.6
(119.3)
FY 2020
123.9
16.6
(83.3)
Change
15.4%
301.2%
(36.0)m
Starting to deliver material revenue; £49m of OSP fee revenue recognised from partners with CFCs ramping in
France and Canada and the go-live of the first two CFCs in the US. Sites opened on time and ramping in line with
expectations. Three more CFCs in Sweden, Canada and the US launched since year end.
Acceleration of OSP rollout drives cost increase (+£84m) through a higher allocation of investments made in
technology talent to develop the platform, and personnel and cloud costs to support clients in CFC go-live and
early ramp
Travel restrictions remained a constraint during much of the year, reflected in fees invoiced. We maintain a
strong pipeline of CFC and ISF commitments from partners, including our tenth partner, Alcampo, added during
the year.
Note: (1) Revenue includes £9.6 million revenue from Kindred Systems, and £8.1 million of equipment sales to retail partners recognised as revenue under IFRS 15. The cost of this equipment is recognised in Cost of sales, with the
resulting impact on EBITDA of [nil]
Ⓒ2021 Ocado Group plc. All rights reserved.
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