Beyond Meat Beyond sun sausage

© Beyond Meat

Facts & Figures

Beyond Meat Returns to Growth With Encouraging Q3 Financial Results

Beyond Meat has reported its financial results for the third quarter of 2024, demonstrating a promising return to growth. The company achieved net revenues of $81.0 million, an increase of 7.6% year-on-year. Gross profit reached $14.3 million, compared to a loss of $7.3 million in the year-ago period. Loss from operations was $30.9 million, down from $69.6 million in Q3 2023, while net loss decreased from $70.5 million to $26.6 million. Finally, adjusted EBITDA was a loss of $19.8 million, compared to a loss of $57.5 million in the year-ago period. The increase in revenues was primarily driven by a 15.8% increase in net revenue per pound achieved through lower trade discounts, price increases for certain products, and changes in product sales mix. This was …

more

Irish consumers go plant-based

© Oatly

Stock market

Oatly Stock Rises Following Promising Q1 Financial Results

Leading oat milk producer Oatly has published its financial results for the first quarter of 2024, revealing an “encouraging start to the year”. The results have boosted Oatly stock, which is up 3.42% and has risen above the 200-day line. Compared to the same period last year, Oatly’s Q1 revenue rose by 1.8% to $199.2 million, while constant currency revenue increased by 1.2% due to growth in the North America and Europe & International segments. Gross margin reached 27.1%, up 9.7 percentage points. First quarter net loss was $45.8 million, an improvement of $29.8 million compared to Q1 2023; meanwhile, adjusted EBITDA loss was $13.2 million, a $36.7 million improvement. These results indicate that Oatly is moving towards break-even. For the remainder of 2024, Oatly …

more

Vitasoy

© Vitasoy

Facts & Figures

Vitasoy Recovers From Last Year’s Losses to Record HK$104M Profit

Hong Kong-based plant milk brand Vitasoy has published positive results for the financial year 2022/2023, after turning around previous losses. The company recorded a profit from operations of HK$104 million for the year ending in March, compared to a loss of HK$213 million in FY 2021/2022. This was achieved in spite of the increased cost of energy and raw materials, mainly due to cost rationalizations in mainland China and an increase in government subsidies in Hong Kong. Results by region Vitasoy continues to lead the Chinese soymilk market, and registered an operating profit of RMB40 million this year versus a loss of RMB280 million in FY2021/2022. However, revenue dropped slightly by 2%. The company’s Australia and New Zealand operation saw a 3% revenue increase, with …

more