By Mary de Wet
Oatly Group AB said it benefited from foreign-exchange rates in the third quarter and it expects a single-digit percentage boost to its revenue for the full year.
On its outlook:
The oat drink company expects full-year revenue to exceed $635 million, up 51%.
“Assuming no significant changes from foreign exchange rates today, the Company expects the fourth quarter exchange rates to be a single-digit tailwind on a percentage basis compared to the prior year period.”
On its third quarter:
Revenue increased 49% from a year ago to $171.1 million, driven by additional supply from the company’s new production capacity in Vlissingen, Netherlands, to meet the growing global demand for its products.
The benefit to revenue from foreign exchange was about $4.4 million, of which $2.7 million was from Europe, the Middle East and Africa, while the rest came from Asia.
Write to Mary de Wet at mary.dewet@dowjones.com
Oatly Sees Foreign-Exchange Boost to FY Revenue — Currency Comment
By Mary de Wet
Oatly Group AB said it benefited from foreign-exchange rates in the third quarter and it expects a single-digit percentage boost to its revenue for the full year.
On its outlook:
The oat drink company expects full-year revenue to exceed $635 million, up 51%.
“Assuming no significant changes from foreign exchange rates today, the Company expects the fourth quarter exchange rates to be a single-digit tailwind on a percentage basis compared to the prior year period.”
On its third quarter:
Revenue increased 49% from a year ago to $171.1 million, driven by additional supply from the company’s new production capacity in Vlissingen, Netherlands, to meet the growing global demand for its products.
The benefit to revenue from foreign exchange was about $4.4 million, of which $2.7 million was from Europe, the Middle East and Africa, while the rest came from Asia.
Write to Mary de Wet at mary.dewet@dowjones.com
Read More: Oatly Sees Foreign-Exchange Boost to FY Revenue — Currency Comment