Ocado Investor Day Presentation Deck
UK Logistics: Revenue and EBITDA to track UK partner volume growth
Eaches growth drives cost
recharges and, in turn, revenue
Revenue to grow to >£900m;
with partner volume growth
EBITDA to be broadly stable;
impact of capital recharge fades
o Cost recharges >90% of total
UK Logistics revenue;
remainder c. 4% management
fee and capital recharge¹
1,229 1,273
+3.6%
Eaches²
537
FY20
FY21
561
+4.4%
Cost recharges
(£m)
o 10%+ CAGR on revenue;
eaches growth for clients in
UK partly partly offset by
improvements in efficiency
595
FY21
>900
mid-term
o Capital recharge to reduce by
more than half in mid-term
o Margin to trend towards c. 3%,
reflect underlying cost-plus
model
31
FY21
c. 35
mid-term
Revenues of >£900m with EBITDA broadly stable at c£35m in mid-term
Note: (1) FY21 includes £16m of capital recharges (2) individual picks of stock keeping units (SKUS)
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