Oatly第二季收入增15%至2.4億美元 調整後EBITDA轉正 虧損大幅收窄

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 

  
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 6-K
 
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2026
Commission File Number: 001-40401
 
Oatly Group AB (publ)
(Translation of registrant’s name into English)
 
Ångfärjekajen 8
211 19 Malmö
Sweden
(Address of principal executive office)
 
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  

 
  

 EXHIBIT INDEX
 

 
 
 
 
 
 

 
 Exhibit No. 

 

 Description

 

 
 

 

 

 

 
 101.INS

 

 XBRL Instance Document.

 

 
 101.SCH

 

 XBRL Taxonomy Extension Schema Document. 

 

 
 101.CAL

 

 XBRL Taxonomy Extension Calculation Linkbase Document.

 

 
 101.DEF

 

 XBRL Taxonomy Extension Definition Linkbase Document.

 

 
 101.LAB

 

 XBRL Taxonomy Extension Label Linkbase Document.

 

 
 101.PRE

 

 XBRL Taxonomy Extension Presentation Linkbase Document.

 

 
 104

 

 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

  

 
  

 SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 

 
 
 
 
 
 
 

 
 

 

 Oatly Group AB (publ)

 

 
 

 

 

 

 

 
 Date: July 22, 2026

 

 By:

 /s/ Marie-José David

 

 
 

 

 Name:

 Marie-José David

 

 
 

 

 Title:

 Chief Financial Officer

 

 
 

  

 
  

  
 
 
 
 
 
 
 
 
 
 
 
 

 
 
Oatly Group AB (publ)
 
Interim condensed consolidated financial statements
For the three and six months ended June 30, 2026

  

 
  

 Table of Contents
 

 
 
 
 
 

 
 PART I – FINANCIAL INFORMATION

  

 

 
 Item 1. Financial Statements

  

 

 
 Interim Condensed Consolidated Statement of Operations

 1

 

 
 Interim Condensed Consolidated Statement of Comprehensive Loss

 2

 

 
 Interim Condensed Consolidated Statement of Financial Position

 3

 

 
 Interim Condensed Consolidated Statement of Changes in Equity

 4

 

 
 Interim Condensed Consolidated Statement of Cash Flows

 5

 

 
 Notes to the Interim Condensed Consolidated Financial Statements

 6

 

 
 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 23

 

 
 Item 3. Quantitative and Qualitative Disclosures About Market Risk

 39

 

 
 PART II – OTHER INFORMATION

  

 

 
 Item 1. Legal Proceedings

 39

 

 
 Item 1A. Risk Factors

 39

 

 
 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 39

 

 
 Item 3. Defaults Upon Senior Securities

 39

 

 
 Signatures

 40

 

  

  

 
  

 Part I – FINANCIAL INFORMATION
Item 1. Financial Statements
 
Interim Condensed Consolidated Statement of Operations
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)

  

  

  

 Three months ended June 30,

  

  

 Six months ended June 30,

  

 

 
 
(in thousands of U.S. dollars, except share and per share and ADS data)

  

 Note

  

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Revenue

  

 5

  

  

 240,095

  

  

  

 208,354

  

  

  

 468,420

  

  

  

 405,884

  

 

 
 Cost of goods sold

  

  

  

  

 (158,731

 )

  

  

 (140,729

 )

  

  

 (310,716

 )

  

  

 (275,929

 )

 

 
 Gross profit

  

  

  

  

 81,364

  

  

  

 67,625

  

  

  

 157,704

  

  

  

 129,955

  

 

 
 Research and development expenses

  

  

  

  

 (4,634

 )

  

  

 (4,605

 )

  

  

 (9,510

 )

  

  

 (8,996

 )

 

 
 Selling, general and administrative expenses

  

  

  

  

 (94,680

 )

  

  

 (84,111

 )

  

  

 (178,150

 )

  

  

 (161,609

 )

 

 
 Other operating income and (expenses), net

  

  

  

  

 639

  

  

  

 (1,025

 )

  

  

 1,296

  

  

  

 (57

 )

 

 
 Operating loss

  

  

  

  

 (17,311

 )

  

  

 (22,116

 )

  

  

 (28,660

 )

  

  

 (40,707

 )

 

 
 Finance income and (expenses), net

  

 7

  

  

 (13,394

 )

  

  

 (31,916

 )

  

  

 (14,298

 )

  

  

 (22,505

 )

 

 
 Loss before tax

  

  

  

  

 (30,705

 )

  

  

 (54,032

 )

  

  

 (42,958

 )

  

  

 (63,212

 )

 

 
 Income tax expense

  

 8

  

  

 (631

 )

  

  

 (1,914

 )

  

  

 (507

 )

  

  

 (5,265

 )

 

 
 Loss for the period

  

  

  

  

 (31,336

 )

  

  

 (55,946

 )

  

  

 (43,465

 )

  

  

 (68,477

 )

 

 
 Attributable to:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Shareholders of the parent

  

  

  

  

 (31,283

 )

  

  

 (55,911

 )

  

  

 (43,289

 )

  

  

 (68,341

 )

 

 
 Non-controlling interests

  

  

  

  

 (53

 )

  

  

 (35

 )

  

  

 (176

 )

  

  

 (136

 )

 

 
 Loss per share, attributable to shareholders of the parent:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Basic and diluted

  

 23

  

  

 (0.05

 )

  

  

 (0.09

 )

  

  

 (0.07

 )

  

  

 (0.11

 )

 

 
 Loss per ADS, attributable to shareholders of the parent 
(1 ADS representing 20 ordinary shares):

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Basic and diluted

  

 23

  

  

 (0.99

 )

  

  

 (1.86

 )

  

  

 (1.38

 )

  

  

 (2.28

 )

 

 
 Weighted average common shares outstanding:

  

  

  

  

  

  

  

  

  

  

  

  

  

  

 

 
 Basic and diluted

  

 23

  

  

 629,121,235

  

  

  

 601,195,247

  

  

  

 626,823,384

  

  

  

 599,884,824

  

 

 The accompanying notes are an integral part of these interim condensed consolidated financial statements. 
 
 
 

 1

 
  

 Interim Condensed Consolidated Statement of Comprehensive Loss
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)

 Three months ended June 30,

  

  

 Six months ended June 30,

  

 

 
 (in thousands of U.S. dollars)

 2026

  

  

 2025

  

  

 2026

  

  

 2025

  

 

 
 Loss for the period

  

 (31,336

 )

  

  

 (55,946

 )

  

  

 (43,465

 )

  

  

 (68,477

 )

 

 
 Other comprehensive (loss)/income:

  

  

  

  

  

  

  

  

  

  

  

 

 
 Items that may be subsequently reclassified to the consolidated statement of operations (net of tax):

  

  

  

  

  

  

  

  

  

  

  

 

 
 Exchange differences from translation of foreign operations

  

 (211

 )

  

  

 27,330

  

  

  

 (6,077

 )

  

  

 52,027

  

 

 
 Total other comprehensive (loss)/income for the period

  

 (211

 )

  

  

 27,330

  

  

  

 (6,077

 )

  

  

 52,027

  

 

 
 Total comprehensive loss for the period

  

 (31,547

 )

  

  

 (28,616

 )

  

  

 (49,542

 )

  

  

 (16,450

 )

 

 
 Attributable to:

  

  

  

  

  

  

  

  

  

  

  

 

 
 Shareholders of the parent

  

 (31,507

 )

  

  

 (28,583

 )

  

  

 (49,398

 )

  

  

 (16,318

 )

 

 
 Non-controlling interests

  

 (40

 )

  

  

 (33

 )

  

  

 (144

 )

  

  

 (132

 )

 

 The accompanying notes are an integral part of these interim condensed consolidated financial statements.

 2

 
  

 Interim Condensed Consolidated Statement of Financial Position
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)

  

 Note

  

 June 30, 2026

  

  

 December 31, 2025

  

 

 
 (in thousands of U.S. dollars)

  

  

  

  

  

  

  

  

 

 
 ASSETS

  

  

  

  

  

  

  

  

 

 
 Non-current assets

  

  

  

  

  

  

  

  

 

 
 Intangible assets

  

 9

  

  

 130,096

  

  

  

 137,747

  

 

 
 Property, plant and equipment

  

 10

  

  

 281,926

  

  

  

 294,688

  

 

 
 Right-of-use assets

  

 11

  

  

 33,152

  

  

  

 37,907

  

 

 
 Other non-current receivables

  

 12,13

  

  

 48,891

  

  

  

 46,992

  

 

 
 Deferred tax assets

  

 8

  

  

 4,755

  

  

  

 4,676

  

 

 
 Total non-current assets

  

  

  

  

 498,820

  

  

  

 522,010

  

 

 
 Current assets

  

  

  

  

  

  

  

  

 

 
 Inventories

  

 14

  

  

 73,169

  

  

  

 68,537

  

 

 
 Trade receivables

  

 15

  

  

 96,312

  

  

  

 103,522

  

 

 
 Current tax assets

  

  

  

  

 2,743

  

  

  

 2,737

  

 

 
 Other current receivables

  

 16

  

  

 16,066

  

  

  

 17,438

  

 

 
 Prepaid expenses

  

  

  

  

 12,243

  

  

  

 8,608

  

 

 
 Cash and cash equivalents

  

 17

  

  

 44,647

  

  

  

 64,345

  

 

 
 Total current assets

  

  

  

  

 245,180

  

  

  

 265,187

  

 

 
 TOTAL ASSETS

  

  

  

  

 744,000

  

  

  

 787,197

  

 

 
 EQUITY AND LIABILITIES

  

  

  

  

  

  

  

  

 

 
 Equity

  

 18

  

  

  

  

  

  

 

 
 Share capital

  

  

  

  

 112

  

  

  

 110

  

 

 
 Treasury shares

  

  

  

  

 (0

 )

  

  

 (0

 )

 

 
 Other contributed capital

  

  

  

  

 1,641,601

  

  

  

 1,641,601

  

 

 
 Other reserves

  

  

  

  

 (231,460

 )

  

  

 (225,351

 )

 

 
 Accumulated deficit

  

  

  

  

 (1,434,724

 )

  

  

 (1,397,805

 )

 

 
 Equity attributable to shareholders of the parent

  

  

  

  

 (24,471

 )

  

  

 18,555

  

 

 
 Non-controlling interests

  

  

  

  

 972

  

  

  

 1,116

  

 

 
 Total equity

  

  

  

  

 (23,499

 )

  

  

 19,671

  

 

 
 Liabilities

  

  

  

  

  

  

  

  

 

 
 Non-current liabilities

  

  

  

  

  

  

  

  

 

 
 Lease liabilities

  

 11

  

  

 19,265

  

  

  

 24,729

  

 

 
 Interest-bearing loans and borrowings

  

 19

  

  

 173,353

  

  

  

 182,783

  

 

 
 Provisions

  

 20

  

  

 —

  

  

  

 2,697

  

 

 
 Total non-current liabilities

  

  

  

  

 192,618

  

  

  

 210,209

  

 

 
 Current liabilities

  

  

  

  

  

  

  

  

 

 
 Lease liabilities

  

 11

  

  

 12,029

  

  

  

 12,457

  

 

 
 Interest-bearing loans and borrowings

  

 13,19

  

  

 344,412

  

  

  

 340,266

  

 

 
 Trade payables

  

  

  

  

 74,582

  

  

  

 66,481

  

 

 
 Current tax liabilities

  

  

  

  

 1,121

  

  

  

 1,642

  

 

 
 Other current liabilities

  

  

  

  

 10,783

  

  

  

 11,176

  

 

 
 Accrued expenses

  

 21

  

  

 119,350

  

  

  

 107,932

  

 

 
 Provisions

  

 20

  

  

 12,604

  

  

  

 17,363

  

 

 
 Total current liabilities

  

  

  

  

 574,881

  

  

  

 557,317

  

 

 
 Total liabilities

  

  

  

  

 767,499

  

  

  

 767,526

  

 

 
 TOTAL EQUITY AND LIABILITIES

  

  

  

  

 744,000

  

  

  

 787,197

  

 

 The accompanying notes are an integral part of these interim condensed consolidated financial statements.

 3

 
  

 Interim Condensed Consolidated Statement of Changes in Equity
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)
(in thousands of U.S. dollars)

  

 Note

  

 Share capital

  

 Treasury shares

  

 Other contributed capital

  

 Other reserves

  

 Accumulated deficit

  

 Equity attributable to shareholders of the parent

  

 Non-controlling interests

  

 Total equity

 

 
 Balance at December 31, 2025

  

 18

  

 110

  

 (0)

  

 1,641,601

  

 (225,351)

  

 (1,397,805)

  

 18,555

  

 1,116

  

 19,671

 

 
 Loss for the period

  

  

  

 —

  

 —

  

 —

  

 —

  

 (12,006)

  

 (12,006)

  

 (123)

  

 (12,129)

 

 
 Other comprehensive (loss)/income

  

  

  

 —

  

 —

  

 —

  

 (5,885)

  

 —

  

 (5,885)

  

 19

  

 (5,866)

 

 
 Total comprehensive loss for the period

  

  

  

 —

  

 —

  

 —

  

 (5,885)

  

 (12,006)

  

 (17,891)

  

 (104)

  

 (17,995)

 

 
 Share-based compensation

  

 6

  

 —

  

 —

  

 —

  

 —

  

 2,869

  

 2,869

  

 —

  

 2,869

 

 
 Balance at March 31, 2026

  

  

  

 110

  

 (0)

  

 1,641,601

  

 (231,236)

  

 (1,406,942)

  

 3,533

  

 1,012

  

 4,545

 

 
 Loss for the period

  

  

  

 —

  

 —

  

 —

  

 —

  

 (31,283)

  

 (31,283)

  

 (53)

  

 (31,336)

 

 
 Other comprehensive loss

  

  

  

 —

  

 —

  

 —

  

 (224)

  

 —

  

 (224)

  

 13

  

 (211)

 

 
 Total comprehensive loss for the period

  

  

  

 —

  

 —

  

 —

  

 (224)

  

 (31,283)

  

 (31,507)

  

 (40)

  

 (31,547)

 

 
 Issue of shares

  

  

  

 2

  

 (0)

  

 —

  

 —

  

 —

  

 2

  

 —

  

 2

 

 
 Share-based compensation

  

 6

  

 —

  

 —

  

 —

  

 —

  

 3,501

  

 3,501

  

 —

  

 3,501

 

 
 Balance at June 30, 2026

  

  

  

 112

  

 (0)

  

 1,641,601

  

 (231,460)

  

 (1,434,724)

  

 (24,471)

  

 972

  

 (23,499)

 

  

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)
(in thousands of U.S. dollars)

  

 Note

  

 Share capital

  

 Treasury shares

  

 Other contributed capital

  

 Other reserves

  

 Accumulated deficit

  

 Equity attributable to shareholders of the parent

  

 Non-controlling interests

  

 Total equity

 

 
 Balance at December 31, 2024

  

 18

  

 106

  

 (0)

  

 1,628,045

  

 (274,160)

  

 (1,249,303)

  

 104,688

  

 1,435

  

 106,123

 

 
 Loss for the period

  

  

  

 —

  

 —

  

 —

  

 —

  

 (12,430)

  

 (12,430)

  

 (101)

  

 (12,531)

 

 
 Other comprehensive income

  

  

  

 —

  

 —

  

 —

  

 24,695

  

 —

  

 24,695

  

 2

  

 24,697

 

 
 Total comprehensive income for the period

  

  

  

 —

  

 —

  

 —

  

 24,695

  

 (12,430)

  

 12,265

  

 (99)

  

 12,166

 

 
 Share-based compensation

  

 6

  

 —

  

 —

  

 —

  

 —

  

 3,592

  

 3,592

  

 —

  

 3,592

 

 
 Balance at March 31, 2025

  

  

  

 106

  

 (0)

  

 1,628,045

  

 (249,465)

  

 (1,258,141)

  

 120,545

  

 1,336

  

 121,881

 

 
 Loss for the period

  

  

  

 —

  

 —

  

 —

  

 —

  

 (55,911)

  

 (55,911)

  

 (35)

  

 (55,946)

 

 
 Other comprehensive income

  

  

  

 —

  

 —

  

 —

  

 27,328

  

 —

  

 27,328

  

 2

  

 27,330

 

 
 Total comprehensive loss for the period

  

  

  

 —

  

 —

  

 —

  

 27,328

  

 (55,911)

  

 (28,583)

  

 (33)

  

 (28,616)

 

 
 Issue of shares

  

  

  

 1

  

 (0)

  

 —

  

 —

  

 —

  

 1

  

 —

  

 1

 

 
 Share-based compensation

  

 6

  

 —

  

 —

  

 —

  

 —

  

 3,453

  

 3,453

  

 —

  

 3,453

 

 
 Balance at June 30, 2025

  

  

  

 107

  

 (0)

  

 1,628,045

  

 (222,137)

  

 (1,310,599)

  

 95,416

  

 1,303

  

 96,719

 

 The accompanying notes are an integral part of these interim condensed consolidated financial statements.

 4

 
  

 Interim Condensed Consolidated Statement of Cash Flows

 
 
 
 
 
 
 
 
 
 
 
 
 
 

 
 (Unaudited)

  

  

  

 Six months ended June 30,

  

 

 
 (in thousands of U.S. dollars)

  

 Note

  

 2026

  

  

 2025

  

 

 
 Operating activities

  

  

  

  

  

  

  

  

 

 
 Net loss

  

  

  

  

 (43,465

 )

  

  

 (68,477

 )

 

 
 Adjustments to reconcile net loss to net cash flows