OTLY · OTLY Q2 FY2026 earnings call record财报电话会记录

“Second, we are driving improvements in our strategic mix of channels, customers, and products to enhance our underlying profit margin.”

“We now expect to drive constant currency revenue growth of 8%-10%, up from our prior outlook for growth of 3%-5%.”

“Despite this inflationary impact and growth-fueling spending, we believe we are on course to deliver adjusted EBITDA towards the low end of the range of $25 million-$35 million, consistent with our outlook from last quarter.”

“In the Europe and International segment on slide 17, second quarter's constant currency revenue grew by 18%, driven by very strong volume growth.”

“For us, defines more clearly the underlying category dynamics I am very pleased to report that momentum from new and existing customers will soon eliminate the headwind from the customer who was previously our largest in this channel.”

“Gross margin was 33.9%, an increase of 140 basis points compared to last year's Q2, and the result of efficiencies including facility optimization, volume absorption, productivity improvements, and favorable mix.”

“This improvement is explained by 210 basis points from fixed cost absorption and supply chain efficiencies, 30 basis points from product and channel mix, 10 basis points from foreign exchange currency tailwinds, and partially offset by a negative impact of inflation for 100 basis points.”

“In SG&A, the increase is driven nearly in equal parts by customer distribution costs, which are linked to sold volumes and an increase in branding and advertising spend, in addition to foreign exchange headwinds that are offset by cost-cutting initiatives.”

“Brand reinvestment and cost inflation related to the Middle East conflict limited year-over-year growth in segment adjusted EBITDA to $0.7 million, yet still achieved a solid adjusted EBITDA margin of 17.5%.”

“Segment adjusted EBITDA increased by $3.1 million-$0.7 million, identical with last quarter, as we proactively manage incremental headwinds from brand investments and costs related to the Middle East conflict.”

“As Jean-Christophe mentioned at the top of the call, we are raising our outlook for constant currency revenue growth from 3%-5%, now up to 8%-10%.”

“When I group these three factors together as a net impact in an environment that remains super volatile and unpredictable, we choose to be conservative and to confirm our expectation to deliver adjusted EBITDA towards the low end of the range of $25 million-$35 million.”