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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Ocado Group plc    OCDO   GB00B3MBS747

OCADO GROUP PLC

(OCDO)
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Ocado : Says It Isn't Aware of AutoStore Patent Infringement

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10/01/2020 | 10:09am EDT

By Jaime Llinares Taboada

Ocado Group PLC said Thursday that it isn't aware of any infringement of valid AutoStore rights after AutoStore sued Ocado for infringing its technology patents.

The FTSE 100 online grocer and retail-technology specialist said that it hasn't received any papers in relation with AutoStore's claims and that it will investigate them once it receives further details. In addition, Ocado said it will investigate whether AutoStore has or intends to infringe its own patents.

AutoStore, a Norway-based supplier of automated storage and retrieval systems, said earlier that it has filed patent infringement lawsuits in the U.S. and the U.K. against Ocado. It claims that Ocado signed agreements with retailers for systems that infringe AutoStore's patented technology.

The Norwegian group noted that Ocado is one of its customers and first purchased AutoStore technology in 2012.

Shares in Ocado at 1243 GMT were down 145 pence, or 5.3%, at 2,599 pence.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

10-01-20 0908ET


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Financials
Sales 2020 2 314 M 3 013 M 3 013 M
Net income 2020 -160 M -208 M -208 M
Net cash 2020 147 M 191 M 191 M
P/E ratio 2020 -108x
Yield 2020 -
Capitalization 17 059 M 22 256 M 22 215 M
EV / Sales 2020 7,31x
EV / Sales 2021 6,38x
Nbr of Employees 15 152
Free-Float 62,5%
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Mean consensus HOLD
Number of Analysts 19
Average target price 2 006,53 GBX
Last Close Price 2 313,00 GBX
Spread / Highest target 49,6%
Spread / Average Target -13,2%
Spread / Lowest Target -63,3%
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Managers
NameTitle
Timothy Steiner Chief Executive Officer & Executive Director
Stuart Alan Ransom Rose Non-Executive Chairman
Mark Richardson Chief Operating Officer & Executive Director
Duncan Eden Tatton-Brown Chief Financial Officer & Executive Director
Neill Abrams Secretary, Executive Director & General Counsel
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