Alternative milk company Oatly has reported a 5 per cent increase in its top-line in 2024 as part of its fourth quarter results.
The company reported fourth quarter revenue of US$214.3 million, with a constant currency revenue increase of 4.7 per cent compared to the prior year period, with a solid volume growth in each operating segment.
Gross margin in the fourth quarter was 28.8 per cent, which is a 5.4 percentage increase compared to the prior year period.
Meanwhile, fourth quarter net loss attributable to shareholders of the parent was $91.2 million compared to net loss attributable to shareholders of the parent of $298.7 million in the prior year period.
Fourth quarter Adjusted EBITDA loss was $6.1 million, which is an improvement of $13.1 million compared to the prior year period.
As part of the company’s evaluation of its Asian supply chain, in December 2024 it announced the closure of its Singapore manufacturing facility and, more recently, the discontinuation of construction of its second manufacturing facility in China.
In a statement, Oatly said it expects to achieve its first full year of profitable growth in 2025.
“Over the past two years, we have executed a significant transformation of our company,” says Jean-Christophe Flatin, Oatly CEO.
“We have overhauled our supply chain, our overhead structure, and our mindset. We now have a much healthier business with clear strategies, clear accountability, stronger margins, and significantly improved profitability. I am proud of our team for embracing the challenge, making the necessary changes, and focusing on execution. All this hard work has enabled us to now expect 2025 to be our first full year of profitable growth as a public company.”
