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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.
Oatly Group AB (Nasdaq: OTLY) announced plans to increase its oat base capacity at its Ogden, Utah facility to meet rising consumer demand. Starting in the second half of 2021, construction will commence to add 75 million liters of capacity, raising total annual production from 150 million to 225 million liters. By the end of 2022, Oatly aims to boost overall capacity from 1,000 million to 1,075 million liters. The company expects a 200% increase in production output by year-end 2022 compared to 2020. CEO Toni Petersson emphasized strong growth and commitment to meeting global demand.
Oatly Group AB reported a record revenue of $146.2 million for Q2 2021, marking a 53.3% increase year-over-year. The company cited strong growth from existing and new production facilities despite facing some manufacturing challenges due to COVID-19. Gross profit was $38.6 million, with a 26.4% margin, down from last year’s 32.3%. Oatly expects full-year revenue to exceed $690 million, fueled by expansions in capacity and new partnerships. Noteworthy expansions include new facilities in Utah and Singapore.
Oatly Group AB (Nasdaq: OTLY) will release its financial results for the second quarter and first half of 2021 on August 16, 2021, prior to market opening. The company, renowned for being the largest oat drink producer, will also conduct a conference call and webcast at 8:30 a.m. ET to discuss the results. Oatly emphasizes its dedication to oats as a sustainable and health-focused crop, highlighted by its diverse range of dairy alternative products. Investors can access the webcast via Oatly's Investors website.
Oatly Group AB announced the pricing of its initial public offering (IPO) of 84,376,000 American Depositary Shares (ADSs) at $17.00 each. Of these, 64,688,000 ADSs are offered by Oatly, with the remaining 19,688,000 from selling shareholders. An additional 12,656,400 ADSs may also be purchased by underwriters. Trading on the Nasdaq under the symbol OTLY is set to begin on May 20, 2021, with closing anticipated on May 24, 2021, pending customary conditions.