Annual Report and Accounts for the 53 weeks ended 2nd December 2012

Cover

More than a supermarket

We give our customers their time back by making shopping for life’s essentials - and luxuries - uncomplicated.

Overview

More than a supermarket

We continually extend the range of quality products we sell. Our centralised model enables us to introduce new ranges quickly and effectively.

Strategy

More than a supermarket

“Ocado has changed my life. I can shop for my daily essentials, and so many more of my requirements, from the comfort of my own home.”

Performance

More than a supermarket

Our operating model is centred on the advantages gained through aggregation, scale and technology to drive a lower cost business.

Financial

More than a supermarket

We have seen rapid progress in our own-label range reflecting the trust our customers have in the quality of the products, and lower prices being offered.

Governance

More than a supermarket

We seek to continually enhance the service we provide to our customers with the lowest substitution levels, and best on time performance.

Information

More than a supermarket

Grocery shopping is now possible at the click of a mobile device button. The ability to shop anytime for groceries has become a compelling part of the online offer. 

Overview

Established in 2000 and listed on the London Stock Exchange in July 2010, Ocado is the UK's, and the world's, largest dedicated online grocery retailer providing and delivering quality groceries and other products directly to customers' homes.

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Highlights

Active customers2

355,000

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Average basket size

£112.13

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CFC efficiency

120 UPH

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Service delivery

151 DPV

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Gross sales

£716m

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Ebitda

EBITDA

£33.5m

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Chief Executive Officer's review

"We continued to achieve double digit sales growth during 2012 with increasing rates of sales and new customer momentum as we moved into 2013. This has been driven by further improvements to our core proposition to customers — better value, wider ranges and enhanced service."

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Chief Financial Officer's review

"We have worked hard at improving overall efficiency in our operations and margins are improving. The introduction of a significant increase in fulfilment capacity this year to meet growing demand, and our continued efforts to drive efficiency, will enable us to demonstrate the longer-term benefits of our business model."

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Strategy

Our strategic objective is to build a business which is more than a supermarket — simpler, quicker, more personal and convenient for the customer; more productive and informative for suppliers; and ultimately more valuable for investors.

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Performance

Our operating model is centred on the advantages gained through aggregation, scale and technology to drive a lower cost business. We have developed pioneering technology and solutions over many years which we use to improve our operating performance.

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