Ocado Group Plc (OCDGF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

to the Ocado full year results presentation. There's a lot to celebrate in these results, but also what you're gonna hear, there's a lot of work that we still need to do. And it's only proper we should start with the successes. First, we've seen a 25% increase in the live modules, average live modules during the course of the year. The technology works and it works well. It's delivering at or exceeding targets wherever we apply it. We've added three more live CFCs in UK, Canada, Japan. So we extended the geographic spread and they're ramping up to target. Customers love our online grocery experience that our clients are delivering in their local markets. And the MPS scores are consistently very high. You look at the reimagined technologies. We're rolling those out. This is the first year they've been commercially available and they're already being deployed in the UK and in Sweden. We've expanded the partner success activity, some theme you'll see coming through quite extensively during this presentation, helping our clients to grow, to achieve long-term profitability. We really do know online grocery, and we are out there helping these clients grow. to get the most out of the Ocado smart platform and to find out better ways of filling their capacity and building new capabilities. Of course, it's the first year that we have secured a contract in outside of grocery with the Ocado Intelligent Automation. Of course, the first contract being McKesson in Canada which is the leading pharmaceutical distributor in the US. Ocado Retail is now on a good growth trajectory. It's adjusted to the post-COVID world and delivering on the perfect execution program that was introduced by Hannah Gibson, the CEO. And as you'll hear later, we have made considerable strides on cash flow an...