Oatly reported an improved performance in the second quarter ending on June 30, 2026, with a revenue increase of 15.2 per cent to £179.8m year-on-year.

The company’s gross profit grew to approximately £61m in the second quarter of 2026 compared to £50.6m in the second quarter of 2025.

Oatly’s adjusted EBITDA improved to around £0.3m, a significant rise from the loss of £2.7m last year. The improved performance in adjusted EBITDA was mainly due to a higher gross profit according to the business.

The brand’s sold volume for the second volume of 2026 grew by 11.2 per cent to 156.1m litres compared to 140.4m litres last year.

Oatly’s revenue in the Europe and international region went up by 21 per cent to approximately £107.1m in the second quarter of 2026.

The gross margin in the second quarter reached 33.9 per cent, which is a 1.4 percentage point increase compared to last year.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

Jean-Christophe Flatin, Oatly’s CEO, said: “I am pleased to report another quarter of profitable growth marked by demand-led value creation. Our second- quarter results reflect the disciplined execution of our strategy, including improvements to the mix of channels, customers, and products.

“Our growth playbook is outperforming expectations in Europe and gaining traction in North America. These strong returns reinforce our commitment to reinvest in the business, and we are pleased to increase our outlook for revenue growth in 2026.

“We continue to make progress reducing our cost structure, and the cost pressures associated with the conflict in the Middle East are tracking according to our expectations.”

Moving forward, the business forecasted a constant currency revenue growth to be in the range of 8 per cent to 10 per cent, up from the previous guidance of 3 per cent and 5 per cent.

The business expects to achieve an adjusted EDITDA of between £18.7m and £26.2m.

Oatly is also currently reviewing its operations in the Greater China region which has been affected by market uncertainity.