Oatly Group AB

Latest Results (18.10.2025):

Oatly Group AB announced its financial results for the second quarter of 2025, demonstrating a 3.0% increase in total revenue to $208.4 million. While revenue growth was modest, the company achieved significant improvements in gross margin and adjusted EBITDA. Strategic initiatives, including a review of the Greater China business, aim to enhance profitability despite challenges in key markets.

Revenue Growth

Oatly Group AB reported total revenue of $208.4 million for Q2 2025, reflecting a 3.0% year-over-year increase. However, on a constant currency basis, revenue saw a slight decline of 0.2%, primarily due to decreased performance in North America and Greater China, partially offset by growth in Europe & International segments.

Improved Gross Margin

The company achieved a gross profit of $67.6 million, resulting in a gross margin of 32.5%, up by 3.3 percentage points compared to Q2 2024. This improvement was driven by enhanced supply chain efficiencies in the Europe & International segment.

Net Loss and Adjusted EBITDA

Net loss attributable to shareholders increased to $55.9 million for Q2 2025 from $30.4 million the previous year, primarily due to fair value losses on Convertible Notes. Despite this, adjusted EBITDA loss improved to $3.6 million from $11.0 million, supported by higher gross profits and lower research and development expenses.

Strategic Review of Greater China

Oatly Group AB is conducting a strategic review of its Greater China business with the objective of accelerating growth and maximizing value. This move addresses the softer-than-expected macro-environment in the region.

Updated 2025 Guidance

The company has refined its 2025 outlook, now expecting constant currency revenue growth to be approximately flat to +1%, down from the earlier forecast of +2% to +4%. Adjusted EBITDA is projected to remain between positive $5 million and $15 million, while capital expenditures are anticipated to decrease to around $20 million. Additionally, favorable foreign exchange rates are now expected to positively impact revenue growth by approximately 150 basis points.