If you have any questions for next week's webinar guest speakers (Pyx Resources, Helix Exploration, Fulcrum Metals and Metals One), please submit them here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOcado Regulatory News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 378.10
Bid: 380.50
Ask: 382.30
Change: -14.40 (-3.67%)
Spread: 1.80 (0.473%)
Open: 390.50
High: 390.50
Low: 373.40
Prev. Close: 392.50
OCDO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ocado announces deal with McKesson Canada

15 Nov 2023 15:38

RNS Number : 5971T
Ocado Group PLC
15 November 2023
 

 

15 November 2023

Ocado Group plc (the "Company" or "Ocado")

Announcement of deal for Ocado to provide fulfilment technology toMcKesson Canada

Ocado Group ("Ocado") has today announced a deal for Ocado Intelligent Automation ("OIA") to provide automated fulfilment technology at a distribution site for McKesson Canada. The deal will see Ocado sell its proven, unique warehouse fulfilment technology in a sector outside of grocery retail, and provide the AI-powered software applications necessary to operate that technology long term. McKesson Canada is a leading diversified healthcare provider in Canada and is the largest pharmaceutical distributor in the country.

Tim Steiner, CEO of Ocado Group said:

"Today represents a new and exciting milestone as we bring the amazing benefits of Ocado's technology to the healthcare distribution and logistics sector. Our technology is ideally suited to supply chains that require dense storage, highly accurate inventory management and secure stock control. lt has been proven over 20 years in one of the most complex supply chain environments, online grocery, and we're now bringing our experience and IP to more sectors. We are very pleased to be expanding in Canada."

Expected Financial Impact

Ocado will receive upfront fees during the construction process with the final payment upon final installation. Ocado will also receive an ongoing annual fee related to the servicing and maintenance of the technology.

The impact of this transaction will be minimal on cash flow and earnings in the current financial year. This is a capital light deal which will be cash neutral throughout the development phase and will be cash and EBITDA positive in FY25 when installation is complete and we recognise the income, costs and profit.

Contacts

? Tim Steiner, Chief Executive Officer, on +441707 228 000

? Stephen Daintith, Chief Financial Officer, on +441707 228 000

? David Shriver, Chief Reputation Officer, on +441707 228 000

? Martin Robinson at Teneo, on +4420 7353 4200

Notes to Editors

About Ocado Group

Ocado Group is a UK based technology company trading on the London Stock Exchange (Ticker OCDO). It provides end-to-end online grocery fulfilment solutions to twelve of the world's largest grocery retailers and holds a 50% share of Ocado Retail Ltd in the UK in a Joint Venture with Marks & Spencer. Ocado has spent two decades innovating for logistics and ecommerce, investing in a wide technology estate that includes robotics, AI & machine learning, simulation, forecasting, and edge intelligence.

The person responsible for arranging the release of this announcement is:

Neill Abrams

Group General Counsel and Company Secretary

Ocado Group plc

Buildings One & Two Trident Place

Mosquito Way

Hatfield

Hertfordshire

AL10 9UL

Tel: +44 (0)1707 228 000

Email: company.secretary@ocado.com

 

 

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBUBDBSXBDGXU
Date   Source Headline
21st Dec 20203:31 pmRNSCompletion of Acquisition
18th Dec 20206:25 pmRNSDirectorate Change
16th Dec 20205:43 pmRNSDirector/PDMR Shareholding
15th Dec 20207:00 amRNSCompletion of Acquisition
10th Dec 20207:00 amRNSTrading Statement
1st Dec 202012:53 pmRNSTotal Voting Rights
25th Nov 20208:35 amRNSDirectorate Change
18th Nov 20205:50 pmRNSDirector/PDMR Shareholding
9th Nov 20205:14 pmRNSDirector/PDMR Shareholding
2nd Nov 20203:20 pmRNSTotal Voting Rights
2nd Nov 20207:00 amRNSStatement regarding acquisitions
2nd Nov 20207:00 amRNSTrading Statement
16th Oct 20205:20 pmRNSDirector/PDMR Shareholding
2nd Oct 20207:00 amRNSTotal Voting Rights
1st Oct 20201:27 pmRNSStatement regarding Autostore
24th Sep 20209:22 amRNSDirector/PDMR Shareholding
18th Sep 20208:16 amRNSDirector/PDMR Shareholding
15th Sep 20207:00 amRNSTrading Statement
8th Sep 20207:00 amRNSDirectorate Change
1st Sep 20206:22 pmRNSTotal Voting Rights
27th Aug 20207:00 amRNSDirectorate Change
20th Aug 20205:45 pmRNSDirector/PDMR Shareholding
3rd Aug 20204:54 pmRNSTotal Voting Rights
28th Jul 20208:42 amRNSBlock listing Interim Review
24th Jul 20204:40 pmRNSSecond Price Monitoring Extn
24th Jul 20204:35 pmRNSPrice Monitoring Extension
16th Jul 20205:41 pmRNSDirector/PDMR Shareholding
15th Jul 20207:00 amRNSReplacement - Half-year Report
14th Jul 20207:00 amRNSHalf-year Report
1st Jul 20206:26 pmRNSDirector/PDMR Shareholding
1st Jul 20205:09 pmRNSTotal Voting Rights
17th Jun 20205:11 pmRNSDirector/PDMR Shareholding
15th Jun 20205:07 pmRNSHolding(s) in Company
12th Jun 202010:56 amRNSHolding(s) in Company
11th Jun 20207:00 amRNSResults of Capital Raise
10th Jun 20205:23 pmRNSRetail Offer
10th Jun 20205:12 pmRNSProposed Placing of Shares and Convertible Bond
1st Jun 20205:10 pmRNSTotal Voting Rights
28th May 20204:55 pmRNSDirector/PDMR Shareholding
28th May 202012:45 pmRNSAdditional Listing
21st May 202012:55 pmRNSDirector/PDMR Shareholding
6th May 20205:50 pmRNSDisclosure of rights attached to listed securities
6th May 20205:43 pmRNSResult of AGM
6th May 20207:00 amRNSTrading Statement
5th May 202012:49 pmRNSTotal Voting Rights
29th Apr 202012:17 pmRNSDisclosure of rights attached to listed securities
28th Apr 20207:00 amRNSStatement regarding AGM Trading Statement
20th Apr 20209:07 amRNSDirector/PDMR Shareholding
20th Apr 20207:00 amRNSAGM Statement
16th Apr 20205:00 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.