- Oatly offered $421.4 million value of merchandise in 20 international locations worldwide 2020, a rise of 106% over gross sales in 2019, based on a preliminary F-1 filed with the U.S. Securities and Exchanges Fee in preparation for the Swedish oat milk titan’s preliminary public providing in the US. The Americas was Oatly’s second largest market, accountable for $100 million of these gross sales, and 71% of the corporate’s complete gross earnings got here from retail gross sales.
- Regardless of Oatly’s success, the corporate remains to be working at a loss. Its complete loss for 2020 stands at $60.4 million, nearly doubling the $35.6 million lack of 2019. Within the submitting, the corporate says it believes it may well turn into worthwhile because it will increase its manufacturing capability and continues to increase globally.
- The oat milk maker introduced it was going to go public within the U.S. in February, solidifying a long-talked-about transfer. The preliminary F-1 submitting would not embrace any indication of firm valuation or share costs for when it begins buying and selling, though Bloomberg reported in February that it was looking for a $10 billion worth. Oatly is following within the steps of only a few different plant-based corporations which have gone public, together with Past Meat and Laird Superfood.
Previously few years, Oatly has taken the plant-based dairy world by storm. Its F-1 submitting particulars simply the way it plans to proceed to develop its enterprise.
Oatly, which was the primary to create oat milk in Sweden within the Nineties, is the world’s chief within the beverage. In Sweden, the submitting says, Oatly has a 53% market share within the complete various dairy class. This proportion is the corporate’s “north star” aim for future worldwide expansions. After launching in the US in 2017, Oatly merchandise at this time can be found in additional than 7,500 retail shops and about 10,000 espresso retailers, the submitting says.
There may be a variety of room for progress in the US. Whereas oat milk as an entire noticed phenomenal progress final yr, turning into the second hottest kind of different dairy, it nonetheless solely has 14% market share within the U.S., based on IRI and Nielsen statistics within the F-1 submitting. Oatly as a model solely has a 4% market share. Nonetheless, due to Oatly’s cachet and momentum, a chart within the submitting estimates the model itself drove 13% of the expansion in plant-based dairy since 2018.
The submitting additionally particulars Oatly’s manufacturing historical past and enlargement plans. Traditionally, demand has outpaced provide, it notes. And weeks in the past, some merchandise began to be in brief provide in the US. Final yr, Oatly made the equal of 301 million liters of oat base for use within the firm’s oat milks, yogurts, desserts and spreads, based on the submitting. This yr, manufacturing capability is anticipated to be 600 million liters. And as expansions proceed, the corporate expects to make 1.4 billion liters by 2023.
There are at the moment 4 vegetation working worldwide, with one every in Sweden, the Netherlands, New Jersey and the most recent in Utah. Much more manufacturing capability is coming with 5 world factories at the moment underneath development and nearing completion within the U.S., the U.Okay., China, one other in Southeast Asia, and one in Singapore. There are additionally three expansions of present factories deliberate to be accomplished by 2022, together with in Sweden, the Netherlands and New Jersey.
Given all of those information, figures and enterprise plans, the submitting makes two issues clear. One is that Oatly is a unusual firm stuffed with character. The submitting is stuffed with the irreverent and to-the-point ads and on-package explanations that make it stand out. As a nod to the dense nature of an SEC submitting, a bus cease advert with an Oatly carton and the phrases, “You really learn this? Whole success.” was repurposed as a full-page picture within the submitting.
The opposite level Oatly drives house in its submitting is that it sees itself as an organization devoted to the surroundings. The corporate says its goal is to rework the meals trade to assist humanity face nice challenges throughout the local weather, surroundings and well being. Oatly believes it’s main the cost to alter the worldwide dairy market.
“Sustainability is on the core of our enterprise and actionable in our merchandise: On common, a liter of Oatly product consumed rather than cow’s milk leads to round 80% much less greenhouse gasoline emissions, 79% much less land utilization and 60% much less vitality consumption. This equation is our main mechanism for impression,” the submitting reads. “Our merchandise make it straightforward for individuals to show what they eat and drink into private moments of wholesome pleasure with out excessively taxing the planet’s assets within the course of. …Sustainability at Oatly is excess of attaining sure key efficiency indicators and company insurance policies — it’s a mindset that helps us navigate enterprise selections and construct a tradition that’s singularly centered on pushing the boundaries of the plant-based motion.”