Online retailer Ocado has released its annual report and financial statements for an elongated 70-week period ending 6th April 2025, finding that it achieved revenue of £3.7 billion.
Ocado said the statutory comparative period was the 53 weeks to 3rd December 2023, and went on to say that in order to enable “meaningful discussion” the alternative performance measures, trading results, associated commentary and percentage changes were presented on an unaudited 52-week basis for the period to 30th March 2025 (FY25).
During FY25, Ocado achieved revenues of £2,826.8 million, up from the FY24 revenue of £2,446.6 million. This was a 15.5% increase on the year. Ocado said that its FY25 revenue growth was driven by growth on its website, with 13% order growth to 469,600 orders per week, up from FY24’s 415,600 orders per week.
Gross profit reached £952 million, up 14.1% on FY24’s £834 million, while earnings before interest, taxes, depreciation and amortisation (EBITDA) reached £53.5 million. This was up 78.3% from the FY24 EBITDA of £30 million. The retailer attributed the rise to a growth in active customers and orders, which it said had “driven trading performance”.
Ocado’s loss before tax for FY25 totalled £60 million, and was reduced by 50.7% from FY24’s £121.7 million. Active customers stood at 1,177,000 at the end of the period, up by 14.6% from 1,027,000 at the end of FY24.
“We have also improved frequency, with customers opting for Ocado more often when deciding where to shop.”
Commenting on the results, Ocado Retail CEO Hannah Gibson said: “There has been a lot going on in Ocado Retail – and we’ve made great progress on delivering this phase of our strategy. As a result, we’ve seen strong growth, which accelerated as the period progressed. We continue to be laser focused on customer service and improving our proposition of unbeatable choice, unrivalled service, and reassuringly good value.
“We continued to deliver strong results with revenue up 15.5% in the 52 weeks ended 30th March 2025, largely driven by growing our active customer base. We have also improved frequency, with customers opting for Ocado more often when deciding where to shop. Growth was primarily driven by order volumes as our proposition and M&S offering continued to resonate with our customers, whilst our average basket size remained stable.”
She concluded: “There remains huge potential ahead and I’m excited about what’s to come. As ever, I’d like to end with a big thank you to all the teams at Ocado Retail, Ocado Group, M&S and all our fantastic suppliers, who’ve worked so hard across the period. We have made great progress, and I’m looking forward to seeing how much more we can achieve together.”
