Oatly Group AB (NASDAQ:OTLY) Q1 2023 Earnings Conference Call May 9, 2023 8:30 AM ET

Company Participants

Toni Petersson - Chief Executive Officer

Christian Hanke - Chief Financial Officer

Daniel Ordonez - Chief Operating Officer

Jean-Christophe Flatin - Global President

Brian Kearney - Investor Relations

Conference Call Participants

Michael Lavery - Piper Sandler

Rob Dickerson - Jefferies

Peter Galbo - Bank of America

John Baumgartner - Mizuho

Operator

Good morning and welcome to Oatly 2023 First Quarter Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is being recorded.

I will now turn the conference over to Brian Kearney, Investor Relations. Please go ahead.

Brian Kearney

Good morning and thanks for joining us today on Oatly’s first quarter 2023 earnings conference call. On today’s call are Toni Petersson, Chief Executive Officer, and Christian Hawke, Chief Financial Officer. Jean-Christophe Flatin, Global President, and Daniel Ordonez, Chief Operating Officer will also be available for questions.

Before we begin, please review the disclaimer on Slide 3. During today's call management may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our future results of operations and financial position, industry and business trends, business strategy, market growth, and anticipated cost savings. These statements are based on management’s current expectations and beliefs and involve risks and uncertainties that could differ materially from actual events or those described in these forward-looking statements. Please refer to the documents we have filed with the SEC for detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

Also please note on today’s call, management will refer to certain non-IFRS financial measures, including EBITDA, adjusted EBITDA, adjusted EBITDA margin, and constant currency revenue growth. While the company believes these non-IFRS financial measures will provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with IFRS. Please refer to today’s release or the appendix of the earnings presentation for reconciliation to the most comparable IFRS measures.

With that I’d now turn the call over to Toni.

Toni Petersson

Thanks Brian. Good morning everyone. We appreciate you joining us today. Before we get to the results, I would like to take a moment to discuss our announcement this morning that I will be transitioning from CEO to Co-Chairman of the Board of Directors. I have led Oatly since 2012, through both our global expansion and our IPO and I'm extremely proud of the work that we have done as a team over the last 11 years. I look forward to taking on a new and exciting challenge as Co-Chairman of the board alongside our current Chairman Eric Milou. And I have the utmost confidence in the future of this company under our new leadership.