Oatly Group AB develops, produces and sells oat-based dairy substitute products under the Oatly brand. Its news centers on oat drinks and adjacent oat-based alternatives, including products comparable to milk, ice cream, yogurt, cooking creams, spreads and on-the-go drinks, sold across retail, coffee shop and restaurant channels in multiple countries.
Recurring updates cover quarterly and annual financial results, interim consolidated statements, revenue and volume trends by Europe & International, North America and Greater China, product introductions such as new oat drink formats, brand collaborations and capital-structure disclosures. Company releases also report Swedish annual report publication and SEC annual-report filings for the Nasdaq-listed foreign issuer.
Raiven Capital, a global early-stage technology venture fund, recently participated in the LEAP tech conference in Riyadh, Saudi Arabia, judging a $600,000 startup competition. This event attracts over 400 speakers and 1,000 startups as part of Saudi Vision 2030. Raiven aims to nurture entrepreneurial growth in the region. Björn Öste from Oatly highlighted the impressive commitment to tech innovation. Raiven's Mideast tour also includes meetings in Oman and Dubai to finalize plans for their regional hub.
Monos, a premium travel luggage brand, has successfully closed a $10 million Series A funding round led by venn growth partners and Strand Equity. The funding aims to enhance Monos' offline presence, recruit talent, and bolster product development.
Despite challenges in the travel industry, Monos achieved 400% year-over-year revenue growth in 2020 and continued its upward trajectory in 2021. The brand is recognized for its sustainable practices and high-quality luggage, using only top materials and undergoing rigorous durability testing.
Oatly Group AB (Nasdaq: OTLY) announced the resignation of board member Björn Öste, effective December 31, 2021, to pursue other interests. Following his departure, the board will consist of 12 directors, with 10 being independent. Eric Melloul, Chairman, expressed gratitude for Öste's contributions to Oatly, emphasizing his role in fostering innovation. Öste reflected on his tenure since the 1990s and noted the company's strong position for future growth under CEO Toni Petersson. Oatly continues to focus on sustainable oat-based products, available in over 20 countries worldwide.
Oatly Group AB (Nasdaq: OTLY), the leading oat drink company, will participate in a fireside chat at the Citi Global Consumer Conference 2021 on December 8, 2021, at 8:00 a.m. Eastern Time. Interested investors can access the webcast on Oatly's Investors website, where it will be archived for 30 days. Oatly specializes in oat-based products, being committed to sustainability and health for over 25 years, with availability in over 20 countries.
Björn Öste, co-Founder of Oatly, invests in Raiven Capital, a global early-stage venture fund. Raiven aims to raise $100M USD for investments in AI, IoT, and DLT technologies. Öste's investment validates Raiven's global approach to deal management, highlighting a 66% internal rate of return. The fund has previously invested in six platform companies and plans to continue focusing on innovative sectors such as foodtech. Raiven's commitment to sustainable food innovation aligns with addressing global population challenges.
Quinyx, a leader in AI-powered workforce management, has secured $50M in funding led by Battery Ventures. The investment aims to bolster Quinyx's growth amidst a labor shortage affecting various industries. The company’s software enhances productivity for notable clients, including Oatly, McDonald’s, and DHL, by streamlining labor processes. CEO Erik Fjellborg emphasizes the importance of this funding for driving innovation and improving the hourly workforce’s experience. The demand for effective labor management tools has surged due to ongoing economic challenges.
Oatly Group AB will launch its new non-dairy frozen dessert bars in the U.S. starting this December. This innovative product joins a rapidly expanding portfolio, which has made Oatly the leading oat-based ice cream brand in North America. The frozen dessert bar market is valued at $5.4 billion, providing Oatly a significant growth opportunity. The bars come in four flavors and will be available in over 3,000 retail outlets at a suggested price of $5.99 for a three-count pack, reinforcing Oatly's commitment to plant-based alternatives.
Oatly Group AB (OTLY) reported a record quarterly revenue of $171.1 million, marking a 49.2% increase year-over-year. The company aims to exceed $635 million in revenue for fiscal year 2021, reflecting strong consumer demand across regions. However, challenges such as temporary production issues and COVID-19 restrictions affected results. Gross profit was $44.9 million with a margin of 26.2%, down from last year's 31.3%. Oatly continues to scale production amid rising costs, with capital expenditures expected between $280 million and $320 million.
Oatly Group AB (Nasdaq: OTLY) has announced the opening of a new research and innovation center at Lund University, Sweden, aimed at advancing oat research and bolstering its commitment to a sustainable food system. The initiative will add approximately 30 scientists to its team in Lund, with potential expansion to nearly 100 researchers across various global hubs. The center is expected to enhance Oatly's existing oat-based products and inspire new innovations.
Construction of the Science and Innovation Center is currently underway and is anticipated for completion in 2023.
Oatly Group AB (Nasdaq: OTLY) will announce its financial results for Q3 and the first nine months of 2021 on November 15, 2021, prior to U.S. market opening. A conference call and webcast will follow at 8:30 a.m. ET on the same day to discuss the outcomes.
Oatly, a leader in oat drink production, has been committed to oats for over 25 years, developing a wide range of dairy alternatives. Their products are available in over 20 countries, showcasing their global reach and focus on sustainability and health.