AO's founder and chief executive has hailed its latest financial year as a "step change" after the online retail giant's pre-tax profits surged by almost 2,000%.
The Bolton-headquartered listed group has reported profits of £20.2m for the 12 months to March 31, 2021, up from £600,000 during the prior year.
Its total revenue also jumped from £1bn to £1.6bn over the same period.
AO's 海角视频 revenue increased from £901m to £1.4bn while sales in Germany went from £125m to £226m.
During the year the group created more than 1,200 jobs while it expanded its warehousing capacity and number of delivery vehicles.
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.
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"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.
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"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."
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On its future outlook the group added: "Our markets remain robust and attractive; however, we are conscious that forecasting the next 18 months will remain difficult.
"We have started the new financial year well and remain prudently optimistic that we will be able to deliver double digit growth as we lap the strong Covid performance comparatives.
"The choices we make in future will create incredible long-term value for our shareholders, our people and our partners.
"It really has been an incredible journey over the last 20 years and we're only just getting started."