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Oatly Group AB Form 6-K Current Event Report Filed 2021-08-16

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Oatly Group AB Form 6-K Current Event Report Filed 2021-08-16 SECURITIES AND EXCHANGE COMMISSION FORM 6-K Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16 Amendments Filing Date: 2021-08-16 | Period of Report: 2021-08-16 SEC Accession No. 0001564590-21-044691 (HTML Version on secdatabase.com) FILER Oatly Group AB Mailing Address Business Address C/O OATLY GROUP C/O OATLY GROUP CIK:1843586| IRS No.: 000000000 | State of Incorp.:V7 | Fiscal Year End: 1231 JAGAREGATAN 4 JAGAREGATAN 4 Type: 6-K | Act: 34 | File No.: 001-40401 | Film No.: 211179450 MALMO V7 211 19 MALMO V7 211 19 SIC: 2000 Food and kindred products 46 418 47 5500 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of August, 2021 Commission File Number: 001-40401 Oatly Group AB (Translation of registrant’s name into English) Jagaregatan 4 211 19 Malmö Sweden (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒ Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Oatly Group AB Interim condensed consolidated financial statements For the three and six months ended June 30, 2021 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of contents PART I – FINANCIAL INFORMATION Item 1. Financial Statements Interim condensed consolidated statement of operations 1 Interim condensed consolidated statement of comprehensive loss 2 Interim condensed consolidated statement of financial position 3 Interim condensed consolidated statement of changes in equity 4 Interim condensed consolidated statement of cash flows 6 Notes to the interim condensed consolidated financial statements 7 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3. Quantitative and Qualitative Disclosures About Market Risk 32 PART II – OTHER INFORMATION Item 1. Legal Proceedings 33 Item 1A. Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 34 Item 4. Mine Safety Disclosures 34 Item 5. Other Information 34 Signatures 35 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Part I – FINANCIAL INFORMATION Item 1. Financial Statements Interim condensed consolidated statement of operations (Unaudited) Three months ended June 30, Six months ended June 30, (in thousands of U.S. dollars, except share and per share data) Note 2021 2020 2021 2020 Revenue 5 146,151 95,309 286,203 179,553 Cost of goods sold (107,544) (64,498) (205,662) (121,459) Gross profit 38,607 30,811 80,541 58,094 Research and development expenses (3,952) (1,303) (7,044) (2,482) Selling, general and administrative expenses (83,132) (33,345) (149,939) (64,186) Other operating income and expense 373 (510) (177) (944) Operating loss (48,104) (4,347) (76,619) (9,518) Finance income and expenses, net 7 (10,696) (23) (12,616) (2,673) Loss before tax (58,800) (4,370) (89,235) (12,191) Income tax expense 8 (264) (420) (2,212) (772) Loss for the period attributable to shareholders of the (59,064) (4,790) (91,447) (12,963) parent Loss per share, attributable to shareholders of the parent: Basic and diluted 23 (0.11) (0.01) (0.18) (0.03) The accompanying notes are an integral part of these interim condensed consolidated financial statements. 1 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Interim condensed consolidated statement of comprehensive (loss)/income (Unaudited) Three months ended June 30, Six months ended June 30, (in thousands of U.S. dollars) 2021 2020 2021 2020 Loss for the period (59,064) (4,790) (91,447) (12,963) Other comprehensive (loss)/income: Items that may be subsequently reclassified to consolidated statement of operations (net of tax): Exchange differences from translation of foreign operations (13,717) 6,217 (24,068) (2,034) Total other comprehensive (loss)/income for the period (13,717) 6,217 (24,068) (2,034) Total comprehensive (loss)/income for the period (72,781) 1,427 (115,515) (14,997) Loss for the period and total comprehensive (loss)/income are, in their entirety, attributable to shareholders of the parent. The accompanying notes are an integral part of these interim condensed consolidated financial statements. 2 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Interim condensed consolidated statement of financial position June 30, 2021 December 31, (in thousands of U.S. dollars) Note (Unaudited) 2020 ASSETS Non-current assets Intangible assets 9 154,804 156,463 Property, plant and equipment 10 373,059 237,625 Right-of-use assets 11 82,774 38,103 Other non-current receivables 730 6,550 Deferred tax assets 8 253 26 Total non-current assets 611,620 438,767 Current assets Inventories 13 57,074 39,115 Trade receivables 14 82,458 71,297 Current tax assets 235 514 Other current receivables 31,244 12,363 Prepaid expenses 26,876 11,509 Short-term investments 15 322,685 — Cash and cash equivalents 16 524,238 105,364 Total current assets 1,044,810 240,162 TOTAL ASSETS 1,656,430 678,929 EQUITY AND LIABILITIES Equity 17 Share capital 105 21 Other contributed capital 1,628,103 448,251 Foreign currency translation reserve (26,593) (2,525) Accumulated deficit (206,642) (119,661) Total equity attributable to shareholders of the parent 1,394,973 326,086 Liabilities Non-current liabilities Lease liabilities 11 65,666 23,883 Liabilities to credit institutions 18 4,454 91,655 Other non-current liabilities 11 233 Deferred tax liabilities 8 2,670 1,307 Provisions 19 8,163 7,121 Total non-current liabilities 80,964 124,199 Current liabilities Lease liabilities 11 7,546 6,261 Liabilities to credit institutions 18 2,591 5,532 Shareholder loans 20 — 106,118 Trade payables 64,316 45,295 Current tax liabilities 768 852 Other current liabilities 20,567 4,632 Accrued expenses 21 84,705 59,954 Total current liabilities 180,493 228,644 Total liabilities 261,457 352,843 TOTAL EQUITY AND LIABILITIES 1,656,430 678,929 The accompanying notes are an integral part of these interim condensed consolidated financial statements. 3 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Interim condensed consolidated statement of changes in equity Attributable to shareholders of the parent Foreign Other currency (Unaudited) Share contributed translation Accumulated (in thousands of U.S. dollars) Note capital capital reserve deficit Total equity January 1, 2021 6, 17 21 448,251 (2,525) (119,661) 326,086 Loss for the period — — — (32,383) (32,383) Other comprehensive loss — — (10,351) — (10,351) Total comprehensive loss for the period — — (10,351) (32,383) (42,734) Bonus issue 63 (63) — — — Balance at March 31, 2021 84 448,188 (12,876) (152,044) 283,352 Loss for the period — — — (59,064) (59,064) Other comprehensive loss — — (13,717) — (13,717) Total comprehensive loss for the period — — (13,717) (59,064) (72,781) Bonus issue 1 (1) — — — Issue of shares 12 1,099,684 — — 1,099,696 Transaction costs — (62,371) — — (62,371) Conversion of shareholder loans 1 104,107 — — 104,108 Exercise of warrants 7 38,496 — — 38,503 Share-based payments — — — 4,466 4,466 Balance at June 30, 2021 105 1,628,103 (26,593) (206,642) 1,394,973 4 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Attributable to shareholders of the parent Foreign Other currency Share contributed translation Accumulated Note capital capital reserve deficit Total equity January 1, 2020 6, 17 19 267,806 (19,710) (60,314) 187,801 Loss for the period — — — (8,173) (8,173) Other comprehensive loss — — (8,251) — (8,251) Total comprehensive loss for the period — — (8,251) (8,173) (16,424) Transactions with shareholders — (3,276) — — (3,276) Share-based payments — — — 1,014 1,014 Balance at March 31, 2020 19 264,530 (27,961) (67,473) 169,115 Loss for the period — — — (4,790) (4,790) Other comprehensive income — — 6,217 — 6,217 Total comprehensive income/(loss) for the period — — 6,217 (4,790) 1,427 Transactions with shareholders — (438) — — (438) Warrant issue — 464 — — 464 Balance at June 30, 2020 19 264,556 (21,744) (72,263) 170,568 The accompanying notes are an integral part of these interim condensed consolidated financial statements. 5 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Interim condensed consolidated statement of cash flows (Unaudited) For the six months ended June 30, (in thousands of U.S. dollars) Note 2021 2020 Operating activities Net loss (91,447) (12,963) Adjustments to reconcile net loss to net cash flows —Depreciation of property, plant and equipment and right-of-use assets and amortization of intangible
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