Oatly’s unaudited revenue reports for the quarter ending 31 March 2025 have been released, with the company registering a minor drop in its overall first quarter revenue when compared to 2024.
The first quarter revenue of US$197.5 million represents a 0.8 per cent drop ($1.6 million) compared to 2024, with strong gains made in Greater China offsetting reductions in revenue across Oatly’s North American and European & International markets.
Despite the slight reduction in revenue, Oatly still improved its performance from 2024 with a 4.5 per cent increase (31.6 per cent) in gross margin and an improvement in first quarter adjusted EBITDA loss from $9.5 million to $3.7 million.
First quarter net loss attributable to shareholders of the parent was $12.4 million.
Oatly CEO Jean-Christophe Flatin says the first quarter results have set the business up for a strong full-year performance in 2025.
“In the first quarter, we made progress on our 2025 priorities. We delivered on the expected benefits of our cost efficiency programs, as a drove efficiencies in both the supply chain and our overhead structure,” Flatin says.
“We also began to see early positive signs that our work to ignite positive momentum in our business is working, most notably in our European businesses where we have been most active on executing our playbook.
“While there is still plenty of work to do, and we will need to navigate a dynamic environment, especially in North America, we remain on track to deliver our first full year of profitable growth as a public company. As such, our 2025 outlook remains unchanged.”
Overall, North America revenue decreased $7.1 million, or 10.6 per cent, to $59.9 million in the first quarter of 2025. This decrease has been largely attributed to expected reductions in sales to the segment’s largest foodservice customer as well as discontinuations of certain frozen products.
Europe & International revenue decreased $2.7 million, or 2.5 per cent, to $107.7 million for the first quarter of 2025. The revenue increase from volume growth was offset by a price mix/decline of four per cent.
A four per cent overall volume growth in the market was primarily driven by growth in Barista products.
Finally, in Greater China, revenue increased $8.2 million, or 37.6 per cent. This growth was primarily driven by sales to a new foodservice customer that was added in the second quarter of 2024.
