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Consumer 150 – 2023 Report: Profitability in the consumer industry


For the second year in a row, I analysed the profitability (EBITDA margin) of 150 UK consumer players in the e-commerce (including Omni-channels players), marketplaces and F&B players (source: Companies House and Annual Reports).

Key findings:

- Median EBIDTA Margin: +1.2% (2.0% in 2022);

- 50% of the companies have negative EBITDA Margins;

- 29% of the benchmark has EBITDA Margin between 0.1% and 10%:

- 21% of the benchmark has EBITDA Margin over 10%;

- Just 2 players have an EBITDA Margin of over 30%, (Farrow and Ball and Parkopedia);

- Applied Nutrition, soon to IPO, has best margin in the nutrition/snacks industry (29.6%);

- The top 5 companies for margins have never received VC Money;

- the average annual revenues for companies with over 20% EBITDA Margin is £90m;

- The 2 biggest consumer companies in terms of revenues, Ocado and The Hut Group have EBITDA Margin in the 2% region.


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