Oatly rises on strong annual revenue growth forecast

Oatly AB

15/03/2023 11:55

** Shares of plant-based milk maker Oatly Group AB  OTLY.O 
up 11.7% at $2.30 premarket
    ** Co forecasts annual revenue growth largely above Wall
Street expectations after beating Q4 sales estimates on
improving demand 
    ** Expects full-year revenue growth of 23% to 28% compared
with analysts' average estimate of a 25.10% rise, per Refinitiv
data
    ** OTLY's Q4 revenue rises 4.9% to $195.1 mln, compared with
analysts' average expectation of $181.5 mln
    ** Co also announces financing commitments of $425 mln
    ** Stock has risen 18.4% YTD

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))