Oatly Group Ab (OTLY) has released an update.
Oatly Group AB reported an 8.5% revenue increase to $783.3 million in 2023, with growth driven by price increases and volume growth in EMEA and Americas, despite a slight decline in Asia. The company is shifting towards an asset-light model, evidenced by a strategic partnership with Ya YA Foods and the discontinuation of two facility constructions, which led to significant non-cash impairments and restructuring costs. Oatly received $102.6 million from asset sales and expects reduced capital expenditures for 2024, underlining a strategic shift to optimize production and finance operations.
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