Oatly has offered up an optimistic outlook for the coming year despite missing expectations in its latest results.
The Swedish company saw revenues rise 5% to $214.3m in the three months to 31 December, falling short of the $219m market consensus estimate. A $0.15 loss per share was also greater than the $0.07 loss analysts expected.
Despite this, Oatly struck an upbeat tone and is expecting 2025 to be its first full year of profitable growth as a public company.
It is also forecasting revenue growth of 2% to 4% next year, though this had been negatively impacted by approximately 300 basis points by a change in sourcing at a large North American customer, the company said.
Oatly has undergone a sizeable turnaround since Jean-Christophe Flatin took over as CEO in 2023, and is edging ever closer to profitability.
The group made a net loss of $91.2m in the fourth quarter, down from almost $300m in the same period of the prior year. Adjusted EBITDA losses came in at £6.1m for Q4, an improvement on £13.1m a year ago.
“Over the past two years, we have executed a significant transformation of our company,” said Flatin. “We have overhauled our supply chain, our overhead structure, and our mindset.
“We now have a much healthier business with clear strategies, clear accountability, stronger margins, and significantly improved profitability.”
Oatly has been particularly focused on a transformation in Asia and confirmed this week it is ending the construction of its second manufacturing facility in China. It comes after the business announced the closure of its Singapore manufacturing facility in December.
“The production capabilities in the existing Ma’anshan production site, including the possibility of future expansion at that site, will be sufficient to support current customers and business growth,” it said.
Oatly’s quarterly sale growth was led by a 9.9% rise in volumes, while a 5.2% cut in price mix also helped lure in shoppers.
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