Oatly Group AB (OTLY) is the world’s largest oatmilk company, specializing in the development and sale of oat-based products. With over 25 years of expertise, the company focuses on providing plant-based dairy alternatives that promote sustainability and health. Oatly's product portfolio includes oatmilk, ice creams, yogurts, cooking creams, spreads, and on-the-go drinks, catering to a global market through retail, e-commerce, and foodservice channels.
- Europe & International - Generates revenue from the sale of oatmilk and other oat-based products in markets such as the United Kingdom, Germany, and Sweden, making it the largest contributor to the business.
- North America - Focuses on the distribution of oatmilk and related products, with the United States being the primary market.
- Greater China - Drives sales of oat-based products in China and surrounding regions, leveraging a foodservice-led strategy.
- Oatmilk - Represents the core product category, accounting for the majority of the company’s consolidated revenue.
- Other Oat-Based Products
- Ice Creams - Offers plant-based frozen desserts made from oats.
- Yogurts - Produces oat-based alternatives to traditional yogurt.
- Cooking Creams - Supplies oat-based cooking solutions for culinary use.
- Spreads - Provides plant-based spreads for various applications.
- On-the-Go Drinks - Delivers convenient, ready-to-drink oat-based beverages.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Daniel Ordoñez Executive | Chief Operating Officer | None | COO since June 2022; previously held leadership roles at Danone and Unilever, with over 30 years of experience in consumer goods. | |
Jean-Christophe Flatin Executive | Chief Executive Officer | None | CEO since June 2023; previously Global President of Oatly (2022-2023) and held leadership roles at Mars, Inc. for over 30 years. | View Report → |
Marie-José David Executive | Chief Financial Officer | None | CFO of Oatly; no additional details provided in the documents. | |
Ann Chung Board | Board Member | Managing Director at The Blackstone Group; Board Member at Spanx LLC, Supergoop LLC. | Board member since July 2020; independent director with expertise in entrepreneurial management and private equity. | |
Bernard Hours Board | Board Member | President of Andros España and Chef Sam; President of Medved Limited; Board Member at Verlinvest. | Board member since March 2019; former COO of Danone S.A. and board member of Essilor International. | |
Calvin Tuen-Muk Lai Shu Board | Board Member | CFO of China Resources Enterprise; Board Member at several private companies. | Board member since November 2022; extensive experience in corporate finance and treasury management. | |
Eric Melloul Board | Board Member | Senior Advisor to Verlinvest; Board Member at Vita Coco, Hint Inc., Mutti S.p.A.. | Board member since 2016; previously served as Chairman of the Board and is a member of the Remuneration Committee. | |
Eric Xin Wang Board | Board Member | CEO and Chairman of CR Consumer Fund; Board Member at CR CCT, China Structural Reform Fund, and others. | Board member since June 2023; appointed by China Resources, with over 20 years of experience in investment and asset management. | |
Frances Rathke Board | Board Member | Board Member at Planet Fitness, Green Mountain Power, Northern New England Energy, John Hancock Investment Management, Flynn Center, Citizen Cider. | Board member since May 2021; Chairperson of the Audit Committee; previously CFO of Green Mountain Coffee Roasters. | |
Lillis Hård Board | Board Member (Employee Representative) | None | Employee representative on the board since February 2023; process operator at Oatly since 2019. | |
Martin Brok Board | Board Member | Founder/CEO of mb Capital Advisors B.V.; Operating Partner at Advent International; Board Member at Revlon, Tous S.L., Self Esteem Brands. | Board member since May 2023; former Global President and CEO of Sephora and held senior roles at Starbucks, Nike, and Coca-Cola. | |
Toni Petersson Board | Co-Chairman of the Board | None | Former CEO (2012-2023); transitioned to Co-Chairman in June 2023, focusing on strategic initiatives and advising on Oatly's China business. | |
Yawen Wu Board | Board Member | CEO of CR Verlinvest Health Investment; Board Member at Comvita Limited and several private companies. | Board member since January 2021; General Manager of Asset Management at China Resources Enterprise. |
- Given the recent category sluggishness in Europe, most notably in the UK , what specific strategies are you implementing to reignite growth in this key market, and what gives you confidence that these initiatives will be effective?
- With your guidance now expecting constant currency revenue growth to be near or slightly below the low end of your previously provided range of 6% to 10% , what are the main factors contributing to this downward revision, and how do you plan to address these challenges going forward?
- While you have achieved significant improvements in gross margin, increasing by 1,240 basis points year-over-year to 29.8% , how sustainable are these margin improvements, and what key initiatives will drive further margin expansion in the future?
- Despite the progress in adjusted EBITDA, with a loss of $5 million this quarter and all three segments turning profitable , what are the main obstacles preventing you from achieving positive adjusted EBITDA in 2025, and when can investors expect to see sustained profitability?
- You mentioned exiting your U.S. and U.K. manufacturing facilities and evaluating Asian supply chain options , how will these actions impact your cost structure and supply chain efficiency, and what risks do you foresee in executing these transitions?
Research analysts who have asked questions during Oatly Group earnings calls.
John Baumgartner
Mizuho Securities
3 questions for OTLY
Kaumil Gajrawala
Jefferies
2 questions for OTLY
Max Andrew Gumport
BNP Paribas
2 questions for OTLY
Michael Lavery
Piper Sandler & Co.
2 questions for OTLY
Andrew Lazar
Barclays PLC
1 question for OTLY
Ken Goldman
JPMorgan Chase & Co.
1 question for OTLY
Kenneth Goldman
JPMorgan Chase & Co.
1 question for OTLY
Max Gumport
BNP Paribas
1 question for OTLY
Recent press releases and 8-K filings for OTLY.
- Oatly Group AB announced on September 16, 2025, the pricing of SEK 1,700 million in senior secured floating rate bonds, referred to as Nordic Bonds.
- The Nordic Bonds will be issued at 100.00 percent of the nominal amount, with an interest rate of 3-month STIBOR plus 7.00%, and a 4-year tenor.
- The proceeds from these bonds are intended to prepay the existing $130 million term loan B credit facility in full and to repurchase and cancel certain 9.25% Convertible Senior PIK Notes due 2028.
- This action is aimed at improving the company's capital structure without raising additional financing.
- Unqualified 2024 Audit Report: The audit report confirmed that the 2024 annual report complies with Swedish regulations and includes the SEC filing audit opinion, affirming a true and fair financial position.
- Business Transformation Success: Executives detailed a two-year transformation yielding approximately $100 million revenue growth, +18 percentage points gross margin expansion, and over $230 million adjusted EBITDA improvement compared to FY2022, with Q1 2025 performance at record levels.
- Sustainability Milestone & Market Opportunity: The call emphasized the achievement of significant CO2 savings from shifting consumers from dairy to Oatly products, supporting the company’s mission in a nearly $600 billion dairy market.
- Revenue & Margin: Q1 2025 revenue hit $197.5M (0.8% decline, 0.7% increase constant currency) with a gross profit of ~$62.3M and a 31.6% gross margin .
- EBITDA & Loss Improvement: Adjusted EBITDA loss narrowed to $3.7M while operating loss stood at approximately $18.6M and net loss compressed to around $12.4‑12.5M from $45.8M in the prior year .
- Margin Expansion & Cost Efficiencies: Gross margin expanded by 450 basis points, COGS per liter was reduced by 15% YoY, and total costs dropped by $10M .
- Operational Metrics: The quarter achieved a 9.2% volume growth offset by an 8.5% decline in price/mix, with a 1.5% headwind from foreign exchange .
- FY Guidance & Strategic Outlook: Full-year guidance remains unchanged with targets of 2‑4% constant currency revenue growth, adjusted EBITDA of $5‑15M, and CAPEX of $30‑35M, alongside efforts to expand in Europe, Greater China, and boost North American performance .
- Financial Position: As of March 31, 2025, total assets were approximately $793M, with equity of roughly $121.9M and liabilities around $671.1M .
- The report presents the consolidated 2024 financial statements prepared in USD and SEK, detailing Oatly Group AB’s performance and strategic direction for the fiscal year.
- Revenue increased by $40.3M to $823.7M, driven by volume growth amid restructuring activities including discontinued production facilities.
- The company has undertaken significant operational restructuring, reducing its employee count by 66 and revising its operating segments, while forecasting capital expenditures of $30M–$35M for 2025.