Oatly Group Ab ( (OTLY) ) has released its Q3 earnings. Here is a breakdown of the information Oatly Group Ab presented to its investors.
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Oatly Group AB, headquartered in Malmö, Sweden, is the world’s largest oat drink company, specializing in producing plant-based dairy alternatives. Renowned for its commitment to sustainability and innovation, Oatly operates in the food and beverage industry, providing products like oat milk, ice cream, and yogurt to over 20 countries.
In its latest earnings report, Oatly reported third-quarter 2024 financial results, showcasing significant growth across its business segments. CEO Jean-Christophe Flatin emphasized the company’s progress in achieving profitable growth, driven by a strong execution strategy that has enabled positive performance in all operating regions.
For the third quarter ending September 30, 2024, Oatly achieved a revenue increase of 10.9%, reaching $208 million, driven by robust volume growth and improved supply chain efficiencies. The company also reported a notable improvement in gross margins, rising to 29.8%, attributed to enhancements in product mix and cost management. Despite a net loss of $34.6 million, Oatly’s adjusted EBITDA loss improved significantly to $5 million, reflecting better operational efficiency and reduced administrative expenses.
In a strategic move, Oatly has adjusted its full-year 2024 outlook. The company now anticipates constant currency revenue growth to be slightly below its previous range, with adjusted EBITDA expected to align with the favorable end of its guidance. Capital expenditures are projected to be below $55 million, indicating a focus on cost control and strategic investments.
Looking ahead, Oatly remains committed to driving structural and consistent profitable growth, with plans to further invest in its brand and expand its consumer base. The company aims to navigate macroeconomic uncertainties while leveraging its unique brand voice and product offerings to sustain demand and market presence.
