Oatly rises on strong annual revenue growth forecast

Oatly AB

15/03/2023 15:38

(Updates)
    ** Shares of plant-based milk maker Oatly Group AB  OTLY.O 
rise as much as 16.5% to $2.40
        ** Stock last up 11.4% and is set for best day in more
than four months, if current gains hold
    ** 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
    ** In 2023, Oatly will be focused on accelerating sales
growth across all segments and constantly improving the supply
chain, says CEO Toni Petersson
    ** Co also announces financing commitments of $425 mln
    ** Stock has risen 31.4% YTD

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