Swedish oat milk producer Oatly has cancelled its plans to build a second factory in China. The company announced this as part of the publication of its financial figures. The production capacity of its existing site in Ma’anshan is sufficient “to support current customers and business growth”, the company said in its statement, “including the possibility of future expansion of this site”.
It was only in December that Oatly announced the closure of a plant in Singapore in order to save costs. Following the closure, Oatly now produces at five locations worldwide. Two are in the USA, one in Sweden, one in the Netherlands and one in China.
At the same time, Oatly published figures for the fourth quarter and the full year 2024. According to the figures, the Group was able to gain some breathing space and reduce its pre-tax loss to USD198.6m. In the previous year, the company posted a loss of around USD408.2m. The outlook for 2025 is positive: Group management expects “that 2025 will be our first full year of profitable growth as a listed company”.
In the past financial year, turnover rose by 5.2 per cent to USD823.7m. A good half (53 per cent) was generated in the Europe and International region, around a third in North America and around 14 per cent in China.
