Brief: Oatly Group's Q3 Revenue Rose 7% To $183 Mln

Oatly AB

14/11/2022 13:20

Nov 14 (Reuters) - Oatly Group Ab  OTLY.O :
    * OATLY REPORTS THIRD QUARTER 2022 FINANCIAL RESULTS
    * Q3 REVENUE INCREASED 7.0% TO $183.0 MILLION COMPARED TO
PRIOR
YEAR PERIOD
    * IS EXECUTING OVERHEAD, HEADCOUNT REDUCTION IMPACTING UP TO
25%
OF COSTS RELATED TO GROUP CORPORATE FUNCTIONS AND REGIONAL EMEA
LAYERS
    * EXPECTS ANNUAL SAVINGS UP TO $25 MILLION FROM
REORGANIZATION,
WHICH WILL TAKE EFFECT STARTING IN Q1 2023
    * HAS IDENTIFIED INCREMENTAL OPPORTUNITIES IN REST OF
ORGANIZATION, EXPECTS UP TO $25 MILLION IN ADDITIONAL ANNUAL
SAVINGS IN H1 OF 2023
    * UNABLE TO MAKE REASONABLE DETERMINATION OF ESTIMATE OF
SEVERANCE, OTHER COSTS ASSOCIATED WITH RESTRUCTURING PLANS AT
THIS TIME
    * CONTINUES TO EVALUATE GLOBAL OPERATIONS, POTENTIAL
OPPORTUNITIES
TO RECALIBRATE ORGANIZATIONAL STRUCTURE FOR ITS NEXT PHASE OF
GROWTH
    * QTRLY LOSS PER SHARE, ATTRIBUTABLE TO SHAREHOLDERS OF
PARENT
$0.18
    * Q3 EARNINGS PER SHARE VIEW $-0.11, REVENUE VIEW $212.1
MILLION
-- REFINITIV IBES DATA
    * SEES FY 2022 REVENUE OF $700 MILLION TO $720 MILLION
    * ON A CONSTANT CURRENCY BASIS USING 2021 FOREIGN EXCHANGE
RATES,
EXPECTS REVENUE OF $755 MILLION TO $775 MILLION IN FY 2022
    * FY2022 REVENUE VIEW $798.6 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX6fy0rf 
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