Oats, Swedish oat milk maker Floating Second-quarter sales in May in New York reported an increase of 53% as they forecast higher-than-expected full-year sales, benefiting from the dairy replacement boom.
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Vegetable milk company Said According to Refinitiv data, Monday’s 2021 annual sales were expected to exceed $ 690 million. This is a 64% increase over the previous year’s $ 681 million.

Revenues for the three months to June increased to $ 146.2 million, with production up 43% to 106 million liters.

Oatly CEO Toni Petersson described 2021 as “the most transformative year” and announced investments to increase capacity at his Utah plant in the second half of the year.

The company raised $ 1.4 billion in the Nasdaq IPO and valued it at $ 10 billion. Peterson confirmed that the company’s second plant in Asia is scheduled to open later this year, adding: To achieve accelerated revenue growth in the second half of this year. “

However, higher logistics costs in Europe and the Americas and higher container prices for shipments to Asia reduced the quarterly gross margin from 32% to 26%.

Changes in regions, channels and customer composition and the negative impact of foreign exchange also affected margins, O’Leary said.

The stock price of the pre-market transaction was $ 17.13.

American Depositary Receipts of plant milk companies, which received a report on environmental certification and financial accounting from hedge fund Spruce Point in June, fell below the IPO price of $ 29 to $ 17 per share last week.

“We reject all these false allegations by shortsellers and are behind all our activities and financial reporting,” Oatly said.

The company faced another setback earlier this month. lost A trademark infringement lawsuit against a British family-owned farm over Pure Oaty drinks.

Oatly revenues jump 53% as appetite for dairy alternatives rises Source link Oatly revenues jump 53% as appetite for dairy alternatives rises

Jerry Dakin’s cows have produced milk that helped feed families across the state for decades. Now, the longtime Manatee County dairyman has been recognized as Florida’s Farmer of the Year.

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