Ocado Group Plc reported a solid FY25 performance, beating revenue and earnings estimates, but its shares plunged 9% after revealing a significant cash burn outlook. Group second-half revenues rose 4.5% ahead of Visible Alpha consensus, with EBITDA 4.2% ahead. However, the company warned of a £200 million cash outflow for the full year, pushing full-year underlying cash outflow to £213 million, slightly above its own guidance.

Ocado closed FY25 with £700 million in cash and £1 billion in gross liquidity, including an undrawn credit facility. The company also announced the closure of 12 warehouse modules across its network, including facilities operated by Kroger and Sobeys, which will generate £279 million in proceeds by year-end.