Oatly Raises Revenue Forecast Amid Strong Performance in Europe
Oatly has raised its revenue forecast for the year after reporting stronger-than-expected growth, particularly in Europe where sales volumes increased significantly. The second-quarter results showed a 15.2% rise in total revenue to $240.1 million compared to last year, with constant-currency growth at 12.7%. Europe and International division led the performance with a 21% increase in revenue driven by higher sales volumes. Despite these gains, Oatly remains unprofitable overall but reported an adjusted EBITDA of $0.4 million for the quarter compared to a loss last year. The company now expects constant-currency revenue growth between 8-10%, up from its previous guidance of 3-5%. North America saw more modest gains, with sales rising by 5.9% and volumes increasing slightly.
Tickers: $OTLY
Topics: Europe performance forecast update North America growth revenue