Oatly to close Singapore facility as cost cuts continue [Yahoo! Finance]
Oatly Group AB - American Depositary Shares (OTLY)
Company Research
Source: Yahoo! Finance
Sweden-headquartered Oatly said it expects to incur an impairment charge related to the closure, amounting to a non-cash portion of about $20-25m in the final quarter of its current 2024 fiscal year. Associated restructuring and “other exit costs” will result in a further $25-30m of net cash outflows through 2027, the dairy-alternatives business said in a statement today (18 December). The Singapore site comes under Oatly's newly restructured Europe and International division after China was spun-off from the Asia business region into a separate standalone unit in January. Oatly will have five manufacturing plants: two in the US, one each in Sweden and the Netherlands, and a single factory in China. Plans for new production facilities in the UK, the US and China were abandoned in November last year in connection with Oatly's so-called “asset-light strategy”. Nasdaq-listed Oatly also booked impairments related to that decision in its 2023 financial year – a non-cash portion
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Earnings
- 11/7/24 - In-Line
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Analyst Actions
- 11/13/24 - Barclays PLC
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Sec Filings
- 12/18/24 - Form 6-K
- 11/7/24 - Form 6-K
- 11/7/24 - Form 6-K
- OTLY's page on the SEC website