Oatly Group sees 2023 revenue growth 23%-28%, consensus $886.11M

The Company’s outlook assumes reasonable containment of COVID-19 related infection rates globally, including no further major lockdowns in Asia, and does not reflect any additional deterioration in the European macro environment, or any significant changes in the geopolitical impact of the current war in Ukraine. Based on the Company’s assessment of the current operating environment, including inflation, rising interest rates, and the impact on consumer behavior, the Company expects the following for the full year ending December 31, 2023: Revenue growth of 23% to 28% on a constant currency basis compared to full year 2022. The Company currently expects foreign currency to be a headwind of approximately 250 basis points for the year, Gross margin to improve sequentially quarter-over-quarter in fiscal 2023, reaching the high-20%s in the fourth quarter, Capital expenditures between $180 million and $200 million.