LONDON, Feb 8 (Reuters) - Ocado Group, the British online
supermarket and technology firm, does not expect to meet
analysts' average core earnings forecast for 2022 due to more
investment in its international technology business, its finance
chief said on Tuesday.
After Ocado published 2021 results, Chief Financial
Officer Stephen Daintith told reporters the group was planning
30 million pounds ($40.6 million) more investment in its
International Solutions business in 2022 than the market was
expecting.
"That would imply therefore a 30 million pound lower EBITDA
for that segment in 2022 than current consensus and therefore a
similar lower level for the group number," he said.
Prior to Tuesday's update from Ocado analysts average
forecast for 2022 earnings before interest, tax, depreciation
and amortisation (EBITDA) was 92 million pounds.
It made 61 million pounds in 2021.
($1 = 0.7391 pounds)
(Reporting by James Davey, Editing by Paul Sandle)
Ocado (OCDO)
