Today we announced our financial results for the year ended 31 March 2021 (“FY21”). AO’s Founder and Chief Executive, John Roberts, said:
“It’s been a step change year for AO in which we’ve achieved significant strategic, operational and financial progress. The early and bold investments we made in capacity, infrastructure and people returned increased revenues by 62%, and grew Adjusted EBITDA by 191% across the Group. Most importantly, we rose to the challenge for the people who matter most, our customers, and we relished the opportunity to impress two million more of them in the period
“Delivering brilliantly for customers is at the heart of our mission to become the global destination for electricals. We firmly believe that once people experience a better way to buy electricals, they are unlikely to return to old ways of shopping. Our vertically integrated business model offers substantial operational leverage which means all incremental growth feeds our flywheel, generating cash to invest back into our business for customers.
“Coming out of the pandemic, the direction of travel is firmly with AO, and our proven ability to build scale and drive growth gives us confidence to look towards further European expansion over the next five years. We’ll continue to make choices that create long term value for our share owners, as well as make our mums proud.
“I would like to thank all our AOers for living The AO Way during the year and our trading partners who shared
our desire to use these testing times as a chance to deepen relationships.”
You can find further details here, on our Financial Highlights page.