Ocado Group PLC IFRS 16 Seminar Transcript
Well, good afternoon, everyone, and a very warm welcome to you all to Ocado's 2020 Accounting Seminar. This has become something of an annual event. In 2018, we introduced segmental reporting to give you a very good sense of the profitability of the retail business of Ocado Solutions. In 2019, we updated you on the impact of IFRS 15. And in 2020, we are updating you on IFRS 16, plus additional segmental disclosure and a fresh and up-to-date set of KPIs. We're also taking this opportunity to explain in a bit more detail the revenue cost and capital investment profile of a new CFC.
The fact that this seminar has become an annual event is illustrative, not only of the pace of change in accounting standards, but in the shape and direction of Ocado Group. As we grow, we are endeavoring to ensure that you have the best possible understanding of the financial moving parts of Ocado, taking into account commercial sensitivities, of course. We hope that you find this session rewarding.
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