Oatly Group AB (NASDAQ:OTLY) Q4 2023 Earnings Call Transcript

Jigger, you will see it in railway stations, in airplanes, et cetera, et cetera. Organic, there are many customers that were not prepared to welcome Oatly because we didn’t have an organic opportunity. That’s what you see from a customer, consumer standpoint. And all your question on complexity had to do with the way we manage the operations, in which we are relentlessly focusing on efficiency. This change is pretty much nothing to us. This is doubling down on the same supply chain network as we have today. In Europe, it’s Vlissingen, and it lands krona more and more. More efficiency, imagine from an engineering standpoint, from a manufacturing standpoint, you’re talking about the same pack sizes on the same path forward. You’re doubling down on the utilization of the same line.

John Baumgartner: Okay. And then last if I could for guidance for 2024. I can appreciate the incremental conservatism there and I think there was a mention of customer acquisition timing and some conservatism built in there. I’m curious, if we come back to that, is that comment in the context of some of the volatility in the Americas foodservice with customer mix? Are you seeing anything at retail just given the softness in plant-based beverage volumes? Are you seeing customers being maybe less inclined to add SKUs at this point? Any color there would be helpful. Thank you.

Daniel Ordonez: Thank you, John, for the question. Not really. It’s a general assessment of adopting a conservative outlook in how we look at the business at the moment of setting the guidance. Of course, there are multiple variables when it comes to that. It’s certainly not specifically related to foodservice or the largest customer, as you might have in your head or the retail dynamics, which you know, in the Americas go in the exact opposite direction.

John Baumgartner: Thank you very much.

Operator: Thank you. This concludes our question-and-answer session. I would like to turn the call for any closing remarks.

Brian Kearney: Great. Thank you very much. This concludes our call. Feel free to reach out to the Investor Relations team if you’d like to schedule any follow-up call. Take care.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.