This was in line with analysts’ average forecast of £60m but down from £73.1m in the 2019-20 year. Its pretax loss widened to £176.9m from £52.3m.
Revenue rose 7.2% to £2.5 billion, while capital expenditure increased by £154.8m to £680.4m, reflecting increased investment in the roll-out of automated warehouses in the UK and overseas, along with investment in technology development and platforms.
Ocado forecast capital expenditure would rise to around £800m in 2022, driven by the worldwide roll-out of its platform.
The group has already struck partnership deals to provide its technology to supermarket groups in eight countries, including Kroger in the Us, Aeon in Japan, Casino in France and Coles in Australia.
It forecast the Ocado Retail business, a joint venture between Ocado Group and Marks & Spencer, would return to “mid-teens” revenue growth in 2022, fee growth of over 30% in its UK technology business, with fee revenue to more than double in its international technology business.
Ocado also forecast a 50% increase in EBITDA in the UK technology business, with EBITDA in the international technology business flat.
Before today’s update, analysts’ average forecast for the Ocado Group’s EBITDA in 2022 was £92m.
Shares in Ocado are down 50% over the last year, partly reflecting investor concern over ongoing two-way litigation on patents with Norwegian rival AutoStore.
