Oatly CEO points to “progress” as Q1 losses narrow [Yahoo! Finance]
Oatly Group AB - American Depositary Shares (OTLY)
Company Research
Source: Yahoo! Finance
The Sweden-based business, which made a loss of more than $400m in 2023 despite rising revenues, yesterday (30 April) booked another quarterly loss in the opening three months of 2024 but reported year-on-year improvement. Oatly ran up a net loss of $45.8m in the three months to the end of March, compared to a loss of $75.6m a year earlier. It booked an operating loss of $28.4m, versus $71.6m in the first quarter of 2023. Revenue inched up 1.8% to $199.2m and by 1.2% at a constant-currency rate. Volume was up 3.1%. Oatly cited “solid growth” from its North America business and its Europe & International division. The company stuck to its financial forecasts for 2024. Oatly estimates its annual revenue will rise 5-10% when measured on a constant-currency basis. It is also forecasting an adjusted EBITDA loss of $35-60m. In 2023, Oatly booked an adjusted EBITDA loss of $157.6m. Speaking to analysts after the group reported its first-quarter numbers, Flatin said: “We had a solid
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OTLY
Earnings
- 4/30/24 - Beat
OTLY
Sec Filings
- 5/15/24 - Form 6-K
- 4/30/24 - Form 6-K
- 4/30/24 - Form 6-K
- OTLY's page on the SEC website