Oatly has published its financial results for the fourth quarter and full year ending December 31 2024.
Q4 revenue was $214.3 million, up 5% from the same period in 2023. Gross margin was 28.8%, a 5.4% increase compared to the prior year period.
Fourth quarter net loss attributable to shareholders of the parent was $91.2 million, down from $298.7 million in Q4 2023. Adjusted EBITDA loss was $6.1 million, an improvement of $13.1 million on the prior year period.
Oatly has also revealed that it is discontinuing the construction of a manufacturing facility in China, less than two months after announcing the closure of its Singapore facility as part of an asset-light strategy.
Profitable growth expected
Oatly now expects to achieve its first full year of profitable growth in 2025, with constant currency revenue growth in the range of 2% to 4%. However, this has been negatively impacted by approximately 300 basis points due to a change in sourcing decision at a large North American customer.
Positive adjusted EBITDA is expected to be in the range of $5 million to $15 million in 2025, while capital expenditures are predicted to be between $30 million and $35 million.
Oatly stock reportedly jumped by over 6% following the publication of the results.
“Significant transformation”
Last month, Oatly partnered with Nespresso to launch a limited-edition coffee blend tailored for use with oat milk. The company has also just announced that its Barista milk alternative will launch at Circle K stores in Estonia, Lithuania, and Latvia.
“Over the past two years, we have executed a significant transformation of our company,” said Oatly CEO Jean-Christophe Flatin. “We have overhauled our supply chain, our overhead structure, and our mindset. We now have a much healthier business with clear strategies, clear accountability, stronger margins, and significantly improved profitability.
“I am proud of our team for embracing the challenge, making the necessary changes, and focusing on execution. All this hard work has enabled us to now expect 2025 to be our first full year of profitable growth as a public company.”
