<p>Oatly 的財報電話會議反映出在首次盈利季度中的複雜情緒</p>
<p>Oatly Group AB 最新的財報電話會議揭示了複雜的情緒，公司慶祝其首次盈利季度，這得益於強勁的國際表現和在歐洲，特別是德國的戰略增長。然而，北美面臨的挑戰，包括收入下降和零售執行復雜性，抑制了整體積極展望。儘管戰略行動和改善的現金流令人鼓舞，但某些市場的放緩突顯出需要進一步關注的領域。</p>
<h2>首個盈利增長季度</h2>
<p>Oatly 在首次盈利增長季度中標誌着一個重要里程碑。這一成功歸功於嚴謹的戰略方法和自 2022 年中以來銷售額顯著增長 20%，展示了公司增長戰略的有效性。</p>
<h2>強勁的歐洲和國際表現</h2>
<p>歐洲和國際部門在第三季度報告了超過 12% 的可觀收入增長，EBITDA 利潤率為 18%，比去年提高了 700 個基點。這一表現凸顯了 Oatly 在北美以外的運營實力。</p>
<h2>德國有效的增長戰略</h2>
<p>德國在食品服務領域表現突出，連續五個季度實現了 45% 的顯著增長。此外，零售增長加速至同比 14%，突顯了 Oatly 在該地區的針對性戰略的有效性。</p>
<h2>大中華區的增長</h2>
<p>大中華區的收入以 28.7% 的恆定貨幣增長，得益於食品服務和零售渠道的強勁表現。這一增長標誌着 Oatly 在亞洲市場的擴展。</p>
<h2>積極的調整後 EBITDA</h2>
<p>Oatly 報告的調整後 EBITDA 為 310 萬美元，比去年改善 820 萬美元。這一積極變化反映了公司對提升盈利能力的關注。</p>
<h2>現金流改善</h2>
<p>公司實現了 500 萬美元的自由現金流淨流出，比去年改善 2200 萬美元。這一改善表明 Oatly 在優化現金管理方面的努力。</p>
<h2>北美收入下降</h2>
<p>與國際成功形成對比的是，Oatly 在北美面臨 10.1% 的收入下降。這一下降主要是由於主要客户的採購變更和冷凍 SKU 的合理化，給公司帶來了挑戰。</p>
<h2>美國零售執行的挑戰</h2>
<p>美國市場的複雜性和貨架重置的時機減緩了零售渠道的進展，給 Oatly 在該地區的增長帶來了障礙。</p>
<h2>北美毛利率壓力</h2>
<p>北美的低銷量導致了吸收阻力和供應商罰款，給毛利率帶來了壓力。這一挑戰突顯了在該地區改善盈利能力所需的戰略調整。</p>
<h2>大中華區預計增長放緩</h2>
<p>儘管第三季度增長強勁，大中華區預計在第四季度銷售將因客户訂單的時機而減弱。這一預期突顯了在該地區維持持續增長的波動性和挑戰。</p>
<h2>前瞻性指導</h2>
<p>展望未來，Oatly 維持其 2025 年的指導，預計恆定貨幣收入增長約為持平至 1%，調整後 EBITDA 在 500 萬至 1500 萬美元之間，資本支出約為 2000 萬美元。公司的戰略行動，包括更新的增長計劃和對盈利能力及成本紀律的關注，旨在為 Oatly 的可持續、可擴展增長奠定基礎。</p>
<p>總之，Oatly 的財報電話會議反映出樂觀與謹慎的混合情緒。儘管公司慶祝其首次盈利季度和強勁的國際表現，但北美的挑戰和對某些市場增長放緩的預期表明需要戰略關注的領域。總體而言，Oatly 的戰略行動和改善的現金流預示着前景光明，儘管仍需克服障礙。</p>

OTLY

<p>Oatly Group AB 的財報電話會議強調了其首次實現盈利的季度，這得益於國際市場的強勁表現，特別是在歐洲和大中華區。然而，北美面臨的挑戰，包括 10.1% 的收入下降和零售執行問題，抑制了積極的前景。公司報告了 310 萬美元的正向調整後 EBITDA，並改善了現金流。展望未來，Oatly 預計 2025 年的收入增長將保持平穩，增長幅度在 0% 到 1% 之間，重點關注盈利能力和戰略調整，以應對北美的挑戰</p>

<p>Oatly’s Earnings Call Reflects Mixed Sentiments Amidst First Profitable Quarter</p>
<div class="lb-trans"><p>Oatly 的財報電話會議反映出在首次盈利季度中的複雜情緒</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 最新的財報電話會議揭示了複雜的情緒，公司慶祝其首次盈利季度，這得益於強勁的國際表現和在歐洲，特別是德國的戰略增長。然而，北美面臨的挑戰，包括收入下降和零售執行復雜性，抑制了整體積極展望。儘管戰略行動和改善的現金流令人鼓舞，但某些市場的放緩突顯出需要進一步關注的領域。</p>
</div><h2>First Quarter of Profitable Growth</h2>
<div class="lb-trans"><h2>首個盈利增長季度</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 在首次盈利增長季度中標誌着一個重要里程碑。這一成功歸功於嚴謹的戰略方法和自 2022 年中以來銷售額顯著增長 20%，展示了公司增長戰略的有效性。</p>
</div><h2>Strong European and International Performance</h2>
<div class="lb-trans"><h2>強勁的歐洲和國際表現</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>歐洲和國際部門在第三季度報告了超過 12% 的可觀收入增長，EBITDA 利潤率為 18%，比去年提高了 700 個基點。這一表現凸顯了 Oatly 在北美以外的運營實力。</p>
</div><h2>Effective Growth Strategy in Germany</h2>
<div class="lb-trans"><h2>德國有效的增長戰略</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>德國在食品服務領域表現突出，連續五個季度實現了 45% 的顯著增長。此外，零售增長加速至同比 14%，突顯了 Oatly 在該地區的針對性戰略的有效性。</p>
</div><h2>Greater China Segment Growth</h2>
<div class="lb-trans"><h2>大中華區的增長</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>大中華區的收入以 28.7% 的恆定貨幣增長，得益於食品服務和零售渠道的強勁表現。這一增長標誌着 Oatly 在亞洲市場的擴展。</p>
</div><h2>Positive Adjusted EBITDA</h2>
<div class="lb-trans"><h2>積極的調整後 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 報告的調整後 EBITDA 為 310 萬美元，比去年改善 820 萬美元。這一積極變化反映了公司對提升盈利能力的關注。</p>
</div><h2>Cash Flow Improvement</h2>
<div class="lb-trans"><h2>現金流改善</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>公司實現了 500 萬美元的自由現金流淨流出，比去年改善 2200 萬美元。這一改善表明 Oatly 在優化現金管理方面的努力。</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>與國際成功形成對比的是，Oatly 在北美面臨 10.1% 的收入下降。這一下降主要是由於主要客户的採購變更和冷凍 SKU 的合理化，給公司帶來了挑戰。</p>
</div><h2>Challenges in U.S. Retail Execution</h2>
<div class="lb-trans"><h2>美國零售執行的挑戰</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>美國市場的複雜性和貨架重置的時機減緩了零售渠道的進展，給 Oatly 在該地區的增長帶來了障礙。</p>
</div><h2>Gross Margin Pressure in North America</h2>
<div class="lb-trans"><h2>北美毛利率壓力</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>北美的低銷量導致了吸收阻力和供應商罰款，給毛利率帶來了壓力。這一挑戰突顯了在該地區改善盈利能力所需的戰略調整。</p>
</div><h2>Slower Growth Expected in Greater China</h2>
<div class="lb-trans"><h2>大中華區預計增長放緩</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>儘管第三季度增長強勁，大中華區預計在第四季度銷售將因客户訂單的時機而減弱。這一預期突顯了在該地區維持持續增長的波動性和挑戰。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，Oatly 維持其 2025 年的指導，預計恆定貨幣收入增長約為持平至 1%，調整後 EBITDA 在 500 萬至 1500 萬美元之間，資本支出約為 2000 萬美元。公司的戰略行動，包括更新的增長計劃和對盈利能力及成本紀律的關注，旨在為 Oatly 的可持續、可擴展增長奠定基礎。</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>總之，Oatly 的財報電話會議反映出樂觀與謹慎的混合情緒。儘管公司慶祝其首次盈利季度和強勁的國際表現，但北美的挑戰和對某些市場增長放緩的預期表明需要戰略關注的領域。總體而言，Oatly 的戰略行動和改善的現金流預示着前景光明，儘管仍需克服障礙。</p>
</div>

Oatly 的財報電話會議：在挑戰中實現盈利增長