Oatly AB: Reports First Quarter 2023 Financial Results

Malmö / SE. (oat) Sweden’s Oatly Group AB, the world’s original and largest oat drink company, announced financial results for the first quarter ended March 31, 2023.

Toni Petersson, Oatly’s CEO, commented, «We delivered a solid start to the year, with an acceleration of growth, sequential gross margin expansion, and an improvement in profitability. Importantly, the supply chain has continued to perform well. This strong supply chain performance has enabled us to make progress against our 2023 priorities and start playing offense again.»

Petersson continued, «Looking ahead, we remain focused on our 2023 priorities of accelerating top line growth, continuous improvement in the supply chain, and driving towards positive adjusted EBITDA in 2024. In the upcoming quarters, we plan to increase our investments in exciting demand-generating initiatives to ensure that we maintain our momentum in the marketplace. Given our solid first quarter performance and our expectations for continued momentum, we are reiterating our 2023 guidance.»

For additional information please read the company’s PDF file below (86 KB):