Swedish oat milk brand Oatly has published its financial results for the first quarter of 2025.
Q1 revenue was $197.5 million, a 0.8% decrease compared to the prior year period; however, if a foreign currency exchange headwind of $3.0 million is excluded, revenue increased by 0.7%. Gross margin was 31.6%, which is a 4.5% increase.
First quarter net loss attributable to shareholders of the parent was $12.4 million, an improvement of $33.4 million compared to the prior year period. Adjusted EBITDA loss was $3.7 million, an improvement of $9.5 million.
Based on these results, Oatly continues to expect that it will achieve its first full year of profitable growth in 2025. It predicts constant currency revenue growth in the range of 2% to 4%, positive adjusted EBITDA in the range of $5 million to $15 million, and capital expenditures in the range of $30 million to $35 million.
“We will need to navigate a dynamic environment”
In February, Oatly published its financial results for the full year ending December 31 2024, reporting a 5% increase in revenue. The company also announced that it was discontinuing the construction of a manufacturing facility in China, after previously closing its Singapore facility as part of an asset-light strategy.
So far this year, Oatly has partnered with Nespresso to launch a limited-edition coffee blend and gained a listing at Circle K stores in Lithuania, Estonia, and Latvia. The brand has also just introduced a multipack featuring three large cartons of its Barista oat milk at UK retail stores.
“In the first quarter, we made progress on our 2025 priorities,” said Oatly CEO Jean-Christophe Flatin. “We delivered the expected benefits of our cost efficiency programs, as we drove efficiencies in both the supply chain and our overhead structure. As planned, we redeployed a portion of those efficiencies into brand-building investments.
“We also began to see early positive signs that our work to ignite positive momentum in our business is working, most notably in our European businesses where we have been most active on executing our playbook. While there is plenty of work still to do, and we will need to navigate a dynamic environment, especially in North America, we remain on track to deliver our first full year of profitable growth as a public company. As such, our 2025 outlook remains unchanged.”
