Oatly Group Ab Stock Price, News & Analysis

Oatly Group AB (Nasdaq: OTLY) is described as the world’s original and largest oat drink company. The business is engaged in the food and drinks industry and has, for over 30 years, focused on developing expertise around oats as a crop with specific inherent properties. According to company statements, this long-term focus on oats has enabled Oatly to develop dairy alternatives across a broad portfolio, including products positioned as alternatives to milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks.

The company highlights several named product families, such as Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat and various ice creams. These products are part of its wider oat-based range within the food and drinks category. Oatly’s fortified drinks are described as dairy- and soy-free and are said to benefit from the inherent qualities of oats, typically containing vitamins and minerals including calcium, riboflavin and vitamins B12 and D. The drinks are characterized as low in salt and saturated fats and, based on life cycle assessment work cited by the company, are described as having a consistently lower climate impact than comparable cow’s milk.

Oatly reports that it generates revenue from three geographic segments: EMEA (Europe, the Middle East and Africa), the Americas and Asia, with the majority of revenue historically coming from the EMEA region. Within its operating reporting, it further discloses three reportable segments: Europe & International, North America and Greater China. These segments are used in its interim condensed consolidated financial statements and related management discussion and analysis to break down revenue, Adjusted EBITDA, EBITDA and loss before tax.

The company notes that the Oatly brand is available in more than 50 countries globally. It specifically identifies markets such as Sweden, Germany, the United Kingdom, the Netherlands, North America and Finland, along with other markets, as areas where its products are present. Oatly is headquartered in Malmö, Sweden, and is incorporated as a public limited company under Swedish law. Its American Depositary Shares (ADSs), each representing 20 ordinary shares, trade on Nasdaq under the symbol OTLY.

From a financial reporting perspective, Oatly prepares interim condensed consolidated financial statements, including statements of operations, comprehensive loss, financial position, changes in equity and cash flows. These are furnished to the U.S. Securities and Exchange Commission (SEC) on Form 6-K and are incorporated by reference into registration statements on Form S-8 and Form F-3. The company reports revenue, cost of goods sold, gross profit, research and development expenses, selling, general and administrative expenses, other operating income and expenses, finance income and expenses, and income tax expense, among other items.

Oatly also discusses non-IFRS financial measures such as EBITDA, Adjusted EBITDA and constant currency revenue in its press releases and filings. These measures are used to provide additional insight into operating performance by adjusting for items such as share-based compensation, restructuring costs, strategic review costs, discontinued construction of production facilities, and certain other non-recurring or non-cash items. Segment tables in its financial disclosures show how these measures are applied across Europe & International, North America and Greater China.

In addition to its product and segment information, Oatly provides detail on its capital structure and financing activities. The company has issued 9.25% Convertible Senior PIK Notes due 2028 and, according to its SEC filings and press releases, has entered into transactions to repurchase and cancel portions of these notes. It has also issued SEK-denominated senior secured floating rate bonds referred to as Nordic Bonds, under a framework amount, and has entered into a SEK 750 million super senior revolving credit facility agreement with a group of banks. These financing arrangements are described as part of an integrated package intended to refinance an existing term loan B credit facility, adjust the profile of its outstanding debt and provide access to liquidity through a new revolving credit facility.

Oatly’s disclosures also describe an intercreditor agreement under which the Nordic Bonds, the super senior revolving credit facility and the Convertible Senior PIK Notes share in security and guarantees from material companies in the group. The security package includes share pledges, security over material intra-group loans and bank accounts, security over material intellectual property, and various jurisdiction-specific security instruments. Supplemental indentures and amended terms and conditions have been executed in connection with these arrangements.

Beyond financing, Oatly communicates on strategic and operational topics in its news releases. For example, it has referenced a strategic review of its Greater China business, with related costs disclosed under other operating income and expenses. It has also reported on actions to reduce overhead expenses and drive cost efficiencies in its supply chain and overhead structure, as well as adjustments to its outlook for constant currency revenue growth, Adjusted EBITDA and capital expenditures.

Oatly also positions itself in relation to broader consumer and taste trends. In its "Future of Taste" report, the company discusses emerging beverage trends identified through interviews with baristas and drinks experts across multiple countries and quantitative data compiled by external researchers. Themes in this report include global flavor exchanges, conscious indulgence, interest in fiber and gut health, destination drinks and the evolving role of matcha and other tea-based beverages. Oatly frames these insights as context for working with coffee and hospitality partners to translate global taste trends into on-menu experiences.

In terms of governance and corporate structure, Oatly is subject to Swedish corporate law and SEC reporting requirements for foreign private issuers. It files current reports on Form 6-K to disclose matters such as financial results, financing transactions, changes to its board of directors and other material information. The company notes that it has employee representatives on its board in accordance with Swedish law and discloses changes in board composition, including resignations and new appointments, through these filings.

Business segments and geographic reach

Oatly’s reporting segments—Europe & International, North America and Greater China—provide insight into its geographic and operational structure. Europe & International includes revenue from external customers in markets such as Sweden, Germany, the United Kingdom, the Netherlands, Finland and other EMEA and international markets. North America covers revenue from external customers in that region, while Greater China focuses on operations and sales in that specific market. The company uses these segments to analyze revenue growth, constant currency performance, sold volume in liters, produced finished goods volume and profitability metrics such as Adjusted EBITDA.

Revenue is also described in terms of broader regions: EMEA, the Americas and Asia, with EMEA historically contributing the largest share. This dual view—by reporting segment and by region—appears in both press releases and interim financial statements, allowing investors to see how performance differs across geographic areas.

Products and oat-focused positioning

Oatly’s product range is centered on oat-based alternatives within the dairy category. Named products include Oat Drink and Chilled Oat Drink, which are positioned as oat-based beverages; Oatgurt, which is presented as an oat-based alternative to yogurt; Creamy Oat; and ice creams. The company also refers to alternatives to cooking creams, spreads and on-the-go drinks, indicating that its oat-based formulations are applied across multiple dairy-like product types.

In its own descriptions, Oatly emphasizes that its drinks are dairy- and soy-free and fortified with vitamins and minerals such as calcium, riboflavin and vitamins B12 and D. The drinks are characterized as low in salt and saturated fats. The company cites life cycle assessment work by external consultants to support its statement that selected Oatly products have a consistently lower climate impact than comparable cow’s milk in specified markets and product variants.

Financial reporting and capital structure

Oatly’s interim condensed consolidated financial statements, furnished on Form 6-K, provide detailed information on its financial position and performance. The statements include revenue, cost of goods sold, gross profit, operating loss, finance income and expenses, loss before tax, income tax expense and net loss for the period. They also present balance sheet items such as intangible assets, property, plant and equipment, right-of-use assets, inventories, trade receivables, cash and cash equivalents, equity, lease liabilities, liabilities to credit institutions, Convertible Notes, trade payables, accrued expenses and provisions.

The company discloses that its capital structure includes liabilities to credit institutions, lease liabilities and Convertible Notes, including 9.25% Convertible Senior PIK Notes due 2028. Through press releases and 6-K filings, Oatly describes the issuance of Nordic Bonds, the entry into a super senior revolving credit facility and the execution of Convertible Note Repurchase Agreements with certain holders of its U.S. Notes. These transactions are described as intended to prepay a term loan B credit facility, repurchase and cancel certain U.S. Notes and adjust the terms and costs associated with its capital structure.

Oatly’s filings also discuss the use of non-IFRS measures such as EBITDA, Adjusted EBITDA loss and constant currency revenue. Reconciliations between IFRS and non-IFRS measures are provided in tables within its press releases and financial reports, and segment-level data show how these measures vary across Europe & International, North America and Greater China.

Sustainability and climate-related positioning

In its communications, Oatly links its oat-based product focus to sustainability themes. The company notes that its drinks are dairy- and soy-free and that life cycle assessments have found a consistently lower climate impact for certain Oatly products compared with cow’s milk in specific markets and product configurations. It also reports that it was recognized as what it describes as the world’s first "Climate Solutions" food and beverage company in 2025, according to its own press release.

Oatly’s financing arrangements include a sustainability-linked super senior revolving credit facility. The margin on this facility is described as subject to adjustments based on performance against key performance indicators related to reduction of greenhouse gas emissions in production, reduction of water withdrawal in production and an increase in the percentage of women in team manager positions. These terms are outlined in the company’s 6-K filings summarizing the facility agreement.

Stock listing and regulatory status

Oatly Group AB’s American Depositary Shares, each representing 20 ordinary shares, trade on Nasdaq under the symbol OTLY. The company files as a foreign private issuer with the SEC, using Form 20-F for its annual report and Form 6-K for current reports. Its 6-K filings state that information contained in certain reports is incorporated by reference into existing registration statements, including Form S-8 and Form F-3, thereby becoming part of those registration statements from the date of filing.

FAQs about Oatly Group AB (OTLY)

• What does Oatly Group AB do?
  Oatly Group AB is engaged in the food and drinks industry and focuses on oat-based products. It describes itself as the world’s original and largest oat drink company and offers oat-based alternatives to milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks.
• Where is Oatly headquartered?
  Oatly states that it is headquartered in Malmö, Sweden, and is incorporated as a public limited company under Swedish law.
• On which exchange does OTLY trade and what does one ADS represent?
  Oatly’s American Depositary Shares trade on Nasdaq under the symbol OTLY. According to its SEC filings, one ADS represents 20 ordinary shares of the company.
• What are Oatly’s main product lines?
  The company identifies products including Oat Drink, Chilled Oat Drink, Oatgurt, Creamy Oat and ice creams. It also refers to oat-based alternatives to milks, ice cream, yogurt, cooking creams, spreads and on-the-go drinks.
• In which regions does Oatly generate revenue?
  Oatly reports revenue from EMEA, the Americas and Asia, with EMEA historically generating the majority of revenue. It also reports three operating segments: Europe & International, North America and Greater China.
• In how many countries is the Oatly brand available?
  The company states that the Oatly brand is available in more than 50 countries globally.
• What nutritional characteristics does Oatly highlight for its drinks?
  Oatly describes its fortified drinks as dairy- and soy-free, typically containing vitamins and minerals including calcium, riboflavin and vitamins B12 and D. They are characterized as low in salt and saturated fats.
• How does Oatly describe the climate impact of its products?
  Based on life cycle assessment work cited in its press release, Oatly states that selected Oatly products have a consistently lower climate impact than comparable cow’s milk in the specified markets and product variants covered by those studies.
• What are Oatly’s reporting segments?
  In its interim condensed consolidated financial statements, Oatly presents three reportable segments: Europe & International, North America and Greater China. These segments are used to report revenue, Adjusted EBITDA, EBITDA and loss before tax.
• What types of financing has Oatly disclosed?
  Oatly has disclosed 9.25% Convertible Senior PIK Notes due 2028, SEK-denominated senior secured floating rate bonds referred to as Nordic Bonds, and a SEK 750 million super senior revolving credit facility. It has also entered into Convertible Note Repurchase Agreements to repurchase and cancel portions of its U.S. Notes.
• How does Oatly communicate its financial results?
  Oatly announces its quarterly and interim results through press releases and furnishes interim condensed consolidated financial statements on Form 6-K with the SEC. These materials include segment data, non-IFRS measures such as Adjusted EBITDA and constant currency revenue, and management’s discussion and analysis of financial condition and results of operations.