<p>Oatly 的财报电话会议反映出在首次盈利季度中的复杂情绪</p>
<p>Oatly Group AB 最新的财报电话会议揭示了复杂的情绪，公司庆祝其首次盈利季度，这得益于强劲的国际表现和在欧洲，特别是德国的战略增长。然而，北美面临的挑战，包括收入下降和零售执行复杂性，抑制了整体积极展望。尽管战略行动和改善的现金流令人鼓舞，但某些市场的放缓突显出需要进一步关注的领域。</p>
<h2>首个盈利增长季度</h2>
<p>Oatly 在首次盈利增长季度中标志着一个重要里程碑。这一成功归功于严谨的战略方法和自 2022 年中以来销售额显著增长 20%，展示了公司增长战略的有效性。</p>
<h2>强劲的欧洲和国际表现</h2>
<p>欧洲和国际部门在第三季度报告了超过 12% 的可观收入增长，EBITDA 利润率为 18%，比去年提高了 700 个基点。这一表现凸显了 Oatly 在北美以外的运营实力。</p>
<h2>德国有效的增长战略</h2>
<p>德国在食品服务领域表现突出，连续五个季度实现了 45% 的显著增长。此外，零售增长加速至同比 14%，突显了 Oatly 在该地区的针对性战略的有效性。</p>
<h2>大中华区的增长</h2>
<p>大中华区的收入以 28.7% 的恒定货币增长，得益于食品服务和零售渠道的强劲表现。这一增长标志着 Oatly 在亚洲市场的扩展。</p>
<h2>积极的调整后 EBITDA</h2>
<p>Oatly 报告的调整后 EBITDA 为 310 万美元，比去年改善 820 万美元。这一积极变化反映了公司对提升盈利能力的关注。</p>
<h2>现金流改善</h2>
<p>公司实现了 500 万美元的自由现金流净流出，比去年改善 2200 万美元。这一改善表明 Oatly 在优化现金管理方面的努力。</p>
<h2>北美收入下降</h2>
<p>与国际成功形成对比的是，Oatly 在北美面临 10.1% 的收入下降。这一下降主要是由于主要客户的采购变更和冷冻 SKU 的合理化，给公司带来了挑战。</p>
<h2>美国零售执行的挑战</h2>
<p>美国市场的复杂性和货架重置的时机减缓了零售渠道的进展，给 Oatly 在该地区的增长带来了障碍。</p>
<h2>北美毛利率压力</h2>
<p>北美的低销量导致了吸收阻力和供应商罚款，给毛利率带来了压力。这一挑战突显了在该地区改善盈利能力所需的战略调整。</p>
<h2>大中华区预计增长放缓</h2>
<p>尽管第三季度增长强劲，大中华区预计在第四季度销售将因客户订单的时机而减弱。这一预期突显了在该地区维持持续增长的波动性和挑战。</p>
<h2>前瞻性指导</h2>
<p>展望未来，Oatly 维持其 2025 年的指导，预计恒定货币收入增长约为持平至 1%，调整后 EBITDA 在 500 万至 1500 万美元之间，资本支出约为 2000 万美元。公司的战略行动，包括更新的增长计划和对盈利能力及成本纪律的关注，旨在为 Oatly 的可持续、可扩展增长奠定基础。</p>
<p>总之，Oatly 的财报电话会议反映出乐观与谨慎的混合情绪。尽管公司庆祝其首次盈利季度和强劲的国际表现，但北美的挑战和对某些市场增长放缓的预期表明需要战略关注的领域。总体而言，Oatly 的战略行动和改善的现金流预示着前景光明，尽管仍需克服障碍。</p>

OTLY

<p>Oatly Group AB 的财报电话会议强调了其首次实现盈利的季度，这得益于国际市场的强劲表现，特别是在欧洲和大中华区。然而，北美面临的挑战，包括 10.1% 的收入下降和零售执行问题，抑制了积极的前景。公司报告了 310 万美元的正向调整后 EBITDA，并改善了现金流。展望未来，Oatly 预计 2025 年的收入增长将保持平稳，增长幅度在 0% 到 1% 之间，重点关注盈利能力和战略调整，以应对北美的挑战</p>

<p>Oatly’s Earnings Call Reflects Mixed Sentiments Amidst First Profitable Quarter</p>
<div class="lb-trans"><p>Oatly 的财报电话会议反映出在首次盈利季度中的复杂情绪</p>
</div><p>Oatly Group AB’s latest earnings call revealed a mixed sentiment as the company celebrated its first profitable quarter, driven by robust international performance and strategic growth in Europe, particularly in Germany. However, challenges in North America, including revenue decline and retail execution complexities, tempered the overall positive outlook. While strategic actions and improved cash flow are promising, slowdowns in certain markets highlight areas needing further attention.</p>
<div class="lb-trans"><p>Oatly Group AB 最新的财报电话会议揭示了复杂的情绪，公司庆祝其首次盈利季度，这得益于强劲的国际表现和在欧洲，特别是德国的战略增长。然而，北美面临的挑战，包括收入下降和零售执行复杂性，抑制了整体积极展望。尽管战略行动和改善的现金流令人鼓舞，但某些市场的放缓突显出需要进一步关注的领域。</p>
</div><h2>First Quarter of Profitable Growth</h2>
<div class="lb-trans"><h2>首个盈利增长季度</h2>
</div><p>Oatly marked a significant milestone by achieving its first quarter of profitable growth since its IPO. This success was attributed to a disciplined strategic approach and a notable 20% increase in sales since mid-2022, showcasing the effectiveness of the company’s growth strategies.</p>
<div class="lb-trans"><p>Oatly 在首次盈利增长季度中标志着一个重要里程碑。这一成功归功于严谨的战略方法和自 2022 年中以来销售额显著增长 20%，展示了公司增长战略的有效性。</p>
</div><h2>Strong European and International Performance</h2>
<div class="lb-trans"><h2>强劲的欧洲和国际表现</h2>
</div><p>The European and International segments reported impressive revenue growth of over 12% in Q3, with an 18% EBITDA margin, which is 700 basis points higher than the previous year. This performance underscores the strength of Oatly’s operations outside North America.</p>
<div class="lb-trans"><p>欧洲和国际部门在第三季度报告了超过 12% 的可观收入增长，EBITDA 利润率为 18%，比去年提高了 700 个基点。这一表现凸显了 Oatly 在北美以外的运营实力。</p>
</div><h2>Effective Growth Strategy in Germany</h2>
<div class="lb-trans"><h2>德国有效的增长战略</h2>
</div><p>Germany emerged as a standout performer with a remarkable 45% growth in the foodservice sector over five consecutive quarters. Additionally, retail growth accelerated to 14% year-on-year, highlighting the effectiveness of Oatly’s targeted strategies in the region.</p>
<div class="lb-trans"><p>德国在食品服务领域表现突出，连续五个季度实现了 45% 的显著增长。此外，零售增长加速至同比 14%，突显了 Oatly 在该地区的针对性战略的有效性。</p>
</div><h2>Greater China Segment Growth</h2>
<div class="lb-trans"><h2>大中华区的增长</h2>
</div><p>The Greater China segment posted a robust 28.7% constant currency revenue growth, driven by strong performance in both foodservice and retail channels. This growth signifies Oatly’s expanding footprint in the Asian market.</p>
<div class="lb-trans"><p>大中华区的收入以 28.7% 的恒定货币增长，得益于食品服务和零售渠道的强劲表现。这一增长标志着 Oatly 在亚洲市场的扩展。</p>
</div><h2>Positive Adjusted EBITDA</h2>
<div class="lb-trans"><h2>积极的调整后 EBITDA</h2>
</div><p>Oatly reported a positive adjusted EBITDA of $3.1 million, marking an $8.2 million improvement compared to the previous year. This positive shift reflects the company’s focus on enhancing profitability.</p>
<div class="lb-trans"><p>Oatly 报告的调整后 EBITDA 为 310 万美元，比去年改善 820 万美元。这一积极变化反映了公司对提升盈利能力的关注。</p>
</div><h2>Cash Flow Improvement</h2>
<div class="lb-trans"><h2>现金流改善</h2>
</div><p>The company achieved a net cash outflow of $5 million in free cash flow, representing a $22 million improvement compared to the previous year. This improvement is indicative of Oatly’s efforts to optimize cash management.</p>
<div class="lb-trans"><p>公司实现了 500 万美元的自由现金流净流出，比去年改善 2200 万美元。这一改善表明 Oatly 在优化现金管理方面的努力。</p>
</div><h2>North America Revenue Decline</h2>
<div class="lb-trans"><h2>北美收入下降</h2>
</div><p>In contrast to its international success, Oatly faced a 10.1% revenue decline in North America. This decline was primarily due to a major customer’s sourcing change and the rationalization of frozen SKUs, posing challenges for the company.</p>
<div class="lb-trans"><p>与国际成功形成对比的是，Oatly 在北美面临 10.1% 的收入下降。这一下降主要是由于主要客户的采购变更和冷冻 SKU 的合理化，给公司带来了挑战。</p>
</div><h2>Challenges in U.S. Retail Execution</h2>
<div class="lb-trans"><h2>美国零售执行的挑战</h2>
</div><p>The complexity of the U.S. market and the timing of shelf resets have slowed progress in the retail channel, presenting hurdles that Oatly needs to address to enhance growth in this region.</p>
<div class="lb-trans"><p>美国市场的复杂性和货架重置的时机减缓了零售渠道的进展，给 Oatly 在该地区的增长带来了障碍。</p>
</div><h2>Gross Margin Pressure in North America</h2>
<div class="lb-trans"><h2>北美毛利率压力</h2>
</div><p>Lower volumes in North America led to absorption headwinds and supplier penalties, putting pressure on gross margins. This challenge underscores the need for strategic adjustments to improve profitability in the region.</p>
<div class="lb-trans"><p>北美的低销量导致了吸收阻力和供应商罚款，给毛利率带来了压力。这一挑战突显了在该地区改善盈利能力所需的战略调整。</p>
</div><h2>Slower Growth Expected in Greater China</h2>
<div class="lb-trans"><h2>大中华区预计增长放缓</h2>
</div><p>Despite strong growth in Q3, the Greater China segment anticipates weaker sales in Q4 due to the timing of customer orders. This expectation highlights the volatility and challenges in maintaining consistent growth in the region.</p>
<div class="lb-trans"><p>尽管第三季度增长强劲，大中华区预计在第四季度销售将因客户订单的时机而减弱。这一预期突显了在该地区维持持续增长的波动性和挑战。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Oatly maintains its 2025 guidance, expecting constant currency revenue growth of approximately flat to 1%, with adjusted EBITDA between $5 million and $15 million, and CapEx around $20 million. The company’s strategic actions, including a refreshed growth playbook and a focus on profitability and cost discipline, are aimed at positioning Oatly for durable, scalable growth.</p>
<div class="lb-trans"><p>展望未来，Oatly 维持其 2025 年的指导，预计恒定货币收入增长约为持平至 1%，调整后 EBITDA 在 500 万至 1500 万美元之间，资本支出约为 2000 万美元。公司的战略行动，包括更新的增长计划和对盈利能力及成本纪律的关注，旨在为 Oatly 的可持续、可扩展增长奠定基础。</p>
</div><p>In conclusion, Oatly’s earnings call reflected a mix of optimism and caution. While the company celebrated its first profitable quarter and strong international performance, challenges in North America and expectations of slower growth in certain markets indicate areas needing strategic focus. Overall, Oatly’s strategic actions and improved cash flow signal a promising path forward, albeit with hurdles to overcome.</p>
<div class="lb-trans"><p>总之，Oatly 的财报电话会议反映出乐观与谨慎的混合情绪。尽管公司庆祝其首次盈利季度和强劲的国际表现，但北美的挑战和对某些市场增长放缓的预期表明需要战略关注的领域。总体而言，Oatly 的战略行动和改善的现金流预示着前景光明，尽管仍需克服障碍。</p>
</div>

Oatly 的财报电话会议：在挑战中实现盈利增长