$OTLY

Oatly Group AB

CIK:0001843586|SEC Filings

Consolidated statement of operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit or loss [abstract]
Revenue	$ 862,459	$ 823,666	$ 783,348
Cost of goods sold	(585,402)	(587,174)	(631,265)
Gross profit	277,057	236,492	152,083
Research and development expenses	(18,573)	(30,135)	(21,047)
Selling, general and administrative expenses	(320,643)	(324,719)	(373,396)
Other operating income and (expenses), net	(5,571)	(67,790)	(214,652)
Operating loss	(67,730)	(186,152)	(457,012)
Finance income	9,944	57,758	117,876
Finance expenses	(87,132)	(70,179)	(69,029)
Loss before tax	(144,918)	(198,573)	(408,165)
Income tax expense	(8,197)	(3,699)	(8,895)
Loss for the year	(153,115)	(202,272)	(417,060)
Attributable to: Shareholders of the parent	(152,771)	(201,949)	(416,874)
Non-controlling interests	$ (344)	$ (323)	$ (186)
Loss per share, attributable to shareholders of the parent:
Basic earnings (loss) per share	$ (0.25)	$ (0.34)	$ (0.7)
Diluted earnings (loss) per share	(0.25)	(0.34)	(0.7)
Basic, Loss per ADS, attributable to shareholder of the parent (1 ADS representing 20 ordinary shares):	(5.03)	(6.77)	(14.05)
Diluted, Loss per ADS, attributable to shareholder of the parent (1 ADS representing 20 ordinary shares):	$ (5.03)	$ (6.77)	$ (14.05)
Weighted average comon shares outstanding:
Basic	607,525,897	596,886,163	593,600,863
Diluted	607,525,897	596,886,163	593,600,863

Consolidated statement of cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Operating activities
Net loss	$ (153,115)	$ (202,272)	$ (417,060)
Adjustments to reconcile net loss to net cash flows
Depreciation of property, plant and equipment and right-of-use assets and amortization of intangible assets	48,570	49,966	51,702
Impairment of property, plant and equipment and right-of-use assets and intangible assets	740		1,828
Impairment loss/(gain)on trade receivables	913	(234)	611
Write-down of inventories	8,024	3,095	16,981
Share-based compensation	13,261	13,598	21,446
Movements in provisions	(14,896)	(14,414)	36,341
Finance income	(9,944)	(57,758)	(117,876)
Finance expenses	87,132	70,179	69,029
Income tax expense	8,197	3,699	8,895
(Gain)/Loss on disposal of property, plant and equipment and intangible assets		(307)	675
Impairment related to discontinued construction of production facilities		24,117	172,588
Impairment related to closure of production facility		19,113
Other		1,441
Interest received	1,558	8,285	9,630
Interest paid	(23,984)	(24,518)	(20,504)
Income tax paid	(318)	(3,386)	(18,098)
Changes in working capital:
(Increase)/decrease in inventories	(6,176)	(3,456)	30,543
Decrease/(increase) in trade receivables, other current receivables, prepaid expenses	14,400	14,786	(2,502)
Increase/(decrease) in trade payables, other current liabilities, accrued expenses	1,915	(16,362)	(9,855)
Net cash flows used in operating activities	(23,723)	(114,428)	(165,626)
Investing activities
Purchase of intangible assets	(2,858)	(2,055)	(2,950)
Purchase of property, plant and equipment	(12,396)	(39,140)	(66,095)
Investments in financial assets	(1,314)		(1,651)
Proceeds from sales of property, plant and equipment	575	31,201
Proceeds from sale of assets held for sale			43,998
Other	449	743
Net cash flows used in investing activities	(15,544)	(9,251)	(26,698)
Financing activities
Proceeds from liabilities to credit institutions	2,822		176,854
Repayment of liabilities to credit institutions	(133,343)	(2,678)	(102,848)
Repurchase of U.S. Notes	(24,629)
Repayment of lease liabilities	(11,945)	(19,645)	(11,411)
Payment of loan transaction costs	(12,729)	(4,965)	(32,550)
Proceeds from exercise of stock options	111
Cash flows from/(used in) financing activities	1,184	(27,288)	354,995
Net (decrease)/increase in cash and cash equivalents	(38,083)	(150,967)	162,671
Cash and cash equivalents at January 1	98,923	249,299	82,644
Exchange rate differences in cash and cash equivalents	3,505	591	3,984
Cash and cash equivalents at December 31	64,345	$ 98,923	249,299
Convertible Notes
Financing activities
Proceeds from Convertible Notes/bonds			$ 324,950
Nordic Bonds
Financing activities
Proceeds from Convertible Notes/bonds	$ 180,897

Consolidated statement of financial position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Non-current assets
Intangible assets	$ 137,747	$ 116,208
Property, plant and equipment	294,688	294,199
Right-of-use assets	37,907	45,555
Other non-current receivables	46,992	44,331
Deferred tax assets	4,676	4,561
Total non-current assets	522,010	504,854
Current assets
Inventories	68,537	65,602
Trade receivables	103,522	103,366
Current tax assets	2,737	6,095
Other current receivables	17,438	15,738
Prepaid expenses	8,608	9,402
Cash and cash equivalents	64,345	98,923
Total current assets	265,187	299,126
TOTAL ASSETS	787,197	803,980
Equity
Share capital	110	106
Treasury shares	0	0
Other contributed capital	1,641,601	1,628,045
Other reserves	(225,351)	(274,160)
Accumulated deficit	(1,397,805)	(1,249,303)
Equity attributable to shareholders of the parent	18,555	104,688
Non-controlling interests	1,116	1,435
Total equity	19,671	106,123
Non-current liabilities
Lease liabilities	24,729	31,724
Interest-bearing loans and borrowings	182,783	116,216
Provisions	2,697	14,857
Total non-current liabilities	210,209	162,797
Current liabilities
Lease liabilities	12,457	13,359
Interest-bearing loans and borrowings	340,266	330,152
Trade payables	66,481	60,152
Current tax liabilities	1,642	1,476
Other current liabilities	11,176	7,998
Accrued expenses	107,932	103,719
Provisions	17,363	18,204
Total current liabilities	557,317	535,060
Total liabilities	767,526	697,857
TOTAL EQUITY AND LIABILITIES	$ 787,197	$ 803,980