LONDON (dpa-AFX) - Ocado Group plc (OCDO.L), on Tuesday, reported that group revenue was broadly flat at £2.5 billion for the fiscal year 2022, reflecting strong growth in Solutions revenue offset by decline at Ocado Retail.
Ocado Retail revenue totaled £2.2 billion, down 3.8%, while International Solutions revenues more than doubled to £148 million from £67 million in FY21 as live sites trebled from 4 to 12.
The company's loss before tax was £500.8 million in the year 2022 versus £176.9 million incurred a year ago. The results principally reflect Ocado Retail EBITDA and £349 million depreciation and amortization, a £110 million increase due to the 17 new CFC/Zoom sites opened over the last two years.
Tim Steiner, Chief Executive Officer of Ocado Group, said, 'Over the last year every company has had its business model tested by a combination of macro-economic and geopolitical headwinds, and I am pleased that, thanks to the creativity and commitment of my colleagues, we have more confidence in our model than ever before...'
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