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  "documentTitle": "Oatly Group AB (OTLY)",
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  "authorName": "Ben Axler",
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  "presentationDate": "2021-07-14 00:00:00",
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  "notes": "The slide uses a Q&A format to present testimony from a former employee, suggesting accounting irregularities.",
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      "text": "Warning: Recall from our interview of a former Oatly employee with knowledge of its finance and accounting, issues were raised about problems with inventory accounting and recent changes in policy made, though not disclosed in the IPO prospectus.",
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      "text": "Freight affects the gross margin. Normally, Oatly pays the freight. If the freight is paid by the customer, no problem. We tried, in the beginning when we were small, we had no power to have customers pay the freight. Also, there was a big problem in the system, but I was able raise the topic with the team to fix it. We had negative gross margin. I said, what is going on here, how can we produce losing money? In the system, there were issues with tracking items. We had so many warehouses, there was no control or coordination....We tried to fix it, and that brought big changes in the freight and improvement in gross margin. Originally, we used standard cost (inventory accounting) and the standard cost wasn't established properly. Raw materials, labor and clearly the big factor and issue was overhead. It was just a percentage, but it was totally out of proportion. So we went to a different system. We tried to go to ABC (activity-based costing) but the plant was too new and we didn't have enough expert people, and we couldn't do it. I think the Company is very aware that this is an issue, especially now in a public environment. The cost needs to be released (chuckle), that information has to be accurate. I think now with the people and the team Blackstone is building, that's something they know how to work with. — Former Oatly Accounting Professional",
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      "text": "Spruce Point Question: Shipping costs... Former Oatly Accounting Professional: Freight affects the gross margin... Spruce Point Question: Was there a formal change... Former Oatly Accounting Professional: Yes, it was changed...",
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