Oatly Group AB (NASDAQ:OTLY) Q2 2024 Earnings Conference Call July 24, 2024 8:30 AM ET

Company Participants

Brian Kearney - Vice President of Investor Relations
Jean-Christophe Flatin - Chief Executive Officer
Daniel Ordonez - Chief Operating Officer
Marie-Jose David - Chief Financial Officer

Conference Call Participants

Ken Goldman - JPMorgan
Michael Lavery - Piper Sandler
Kaumil Gajrawala - Jefferies
Dara Mohsenian - Morgan Stanley
John Baumgartner - Mizuho Securities

Operator

Good day and welcome to the Oatly Group Second Quarter Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Brian Kearney from Investor Relations. Please go ahead.

Brian Kearney

Good morning and thanks for joining us today. On today's call are our Chief Executive Officer, Jean-Christophe Flatin; our Chief Operating Officer, Daniel Ordonez; and our Chief Financial Officer, Marie-Jose David.

Before we begin, please review the disclaimer on Slide 3. During this 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 SEC for a 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, constant currency revenue and free cash flow. While the company believes these non-IFRS measures will provide useful information, 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 for reconciliation of the non-IFRS financial measures to the most comparable measures prepared in accordance with IFRS. In addition, Oatly has posted a supplemental presentation on its website for reference.

With that, I'd now like to turn the call over to Jean-Christophe.

Jean-Christophe Flatin

Thank you, Brian and good morning, everyone.

Slide 5 has the key messages I want you to take away from today's presentation. First, during the second quarter, we continue to make good progress on strengthening the business and moving towards achieving profitable growth. You can see that clearly in our accelerated top line growth and improved margins as well as how we are activating the brand in each of our markets. This continued improvement is driven by our progress on our 2024 strategic priorities of bringing the Oatly magic to more people, continuing our calibration of resources and a continued focus on executional excellence.