Oatly Group AB Due Diligence

Run due diligence on Oatly Group AB: check compliance and get alerts when suppliers or ownership change.

Sweden · owned by Independent (Sweden) · www.oatly.com · 18 vendors

Oatly Group AB is a Swedish food and beverage company and the original oat drink company, producing a wide range of oat-based products including oat drinks, ice cream, yogurt alternatives, cooking creams, and spreads. Founded on research from Lund University, the company developed a patented enzyme technology to convert oats into nutritious liquid food. Oatly operates globally across Europe, North America, and Asia, and is publicly listed on the NASDAQ stock exchange.

Resilience scores

Technology vendors

Insights

Last updated 2026-09-13 · revision 3

18 direct vendors, 197 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

13 in-scope frameworks identified; showing 3.

EU Whistleblower Protection Directive — Evidence found

Evidence: https://www.oatly.com/legal/whistleblower-policy, https://www.oatly.com/legal, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32019L1937

NIS2 (source) — No public evidence

Evidence: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32022L2555, https://www.msb.se/en/areas-of-responsibility/cybersecurity-and-information-security/nis2/, https://www.oatly.com, https://investors.oatly.com

CSDDD (source) — Evidence found

Evidence: https://www.oatly.com/legal/human-rights-policy, https://www.oatly.com/legal/supplier-code-of-conduct, https://a.storyblok.com/f/107921/x/432f1505d5/oatly-modern-slavery-statement-june-2024.pdf, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32024L1760

Financials

Three-year financials

Financial Resilience Score: 4/10

Oatly demonstrates mixed financial resilience. On the positive side, it holds strong brand equity as a leading global plant-based dairy brand, particularly in EMEA foodservice channels, and benefits from a diversified geographic footprint across three reporting segments. Gross margins have recovered from single-digit/negative levels in 2022 to high-20s% by late 2024, and the company has a supportive long-term shareholder base including Blackstone, Verlinvest, and China Resources that participated in the 2023 convertible note financing of approximately $425M. However, the company faces significant financial challenges. Oatly has been persistently unprofitable with operating losses of ~$212M (2021), ~$392M (2022), and ~$416M (2023), leading to substantial erosion of shareholders' equity from ~$1.15B post-IPO to ~$310M by end of 2023. Revenue growth has decelerated sharply from 53% in 2021 to just 5% in 2024. The plant-based category has plateaued in key markets, and the company executed a 1-for-20 reverse stock split in 2024 to maintain NASDAQ listing compliance, indicating share price weakness. Cash burn remains material and further dilution or debt raises are possible if profitability targets slip.

Key strengths: Category leadership and strong brand equity in plant-based dairy, Diversified geographic footprint across EMEA, North America, and Greater China, Improving gross margins (from negative to high-20s%) via asset-light strategy, Supportive long-term shareholder base (Blackstone, Verlinvest, China Resources), $425M convertible note financing in 2023 bolstered liquidity, Starbucks partnership in US and China foodservice channel

Risk factors: Persistent operating losses and negative free cash flow, Declining shareholders' equity due to cumulative losses, Plant-based category plateau in US and parts of Europe, Intensifying competition from Alpro (Danone), Silk, Chobani, and private label, Underperformance in Greater China segment, FX translation risk (USD reporting vs. EUR/SEK/GBP cost base), Share price weakness requiring 1-for-20 reverse stock split in 2024, Historical governance/accounting scrutiny (Spruce Point short report, shareholder litigation), Customer concentration risk with large foodservice/retail customers >10% of segment revenue

Revenue by geography

Revenue by product/service

Signed-in users can see whether their own company is exposed to this vendor's disruption, plus the full sub-vendor list and country breakdowns, every in-scope compliance framework plus gaps and next steps, and alerts when any of it changes.

View the full interactive report