Coca Cola HBC showed an increase in comparable net profits to 316.9 million euros in the first half of 2022, registering an annual increase of 34.5%. Sales volume increased by 18.1% to €1.33 billion, while net sales revenue increased by 29.6% to €4.209 billion.
Net profits amounted to €152.9 million, down 34.4%, while operating profits amounted to €275.7 million, down 21.3% year-on-year.
Read also: Coca Cola HBC acquires Three Cents
Net sales revenue per case increased by 14.0%.
Notably, coffee sales volumes increased by 56%, with a growing contribution from out-of-home consumption.
Finally, as the company notes, investment in adult carbonated beverages resulted in continued strong performance with sales volume increasing by 18.7%.
STRONG VOLUMES, REVENUE, EBIT; INVESTING IN GROWTH
Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, reports its financial results for the six months ended 1 July 2022.
Half-year highlights
- Execution of our strategy drove continued strong organic growth, well balanced between volume and price/mix
- Organic revenue +19.4%. Reported revenues +29.6%
- Excluding Russia and Ukraine organic revenue +25.2%, with volume +12.1%
- Organic revenue per case of 14.0% benefited from pricing and targeted actions to improve mix, further supported by out-of-home channel recovery
- Broad based volume momentum continues outside of Russia and Ukraine, with growth led by strategic priorities
- Integration of Egypt progressing well; 7 pp addition to reported revenue growth
- Further value and volume share gains in NARTD and Sparkling
- Organic EBIT up 23.0%, with margins up 30bps on an organic basis to 11%, benefiting from pricing, mix and cost discipline
- Quality of revenue growth driving underlying profit expansion
- Opex as a percent of revenue improved, driven by operating leverage and cost savings
- Marketing expenses excluding Russia and Ukraine increased by 9%
- Continued investment behind strategic priorities to drive profitable growth
- Consistent investment behind adult sparkling proposition driving continued strong performance, with volumes +18.7% excluding Russia and Ukraine
- Acquisition of craft adult sparkling business, Three Cents, expected to complete in Q3, strengthens premium brand offering
- Coffee volumes +56% with accelerating contribution from out-of-home
- Rapid digitisation of the enterprise – our proprietary B2B, Customer Portal now has more than 200,000 customers
- Deployment of our key revenue growth and route to market capabilities in Egypt
- Improved cash generation and continued strong balance sheet
- Comparable EPS +33.9%; free cash flow increased by €55.4 million to €332.9 million
- Strong balance sheet and liquidity remains after paying the €0.71 dividend in August
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
Greece Announces Grants to Unemployed for New SMEs
Unemployed individuals seeking 12-month grants to fund the creation of new SMEs can apply online until January 21.
Port of Piraeus Reports Record-breaking Year for Cruise Sector
First cruise ship of the season, Viking Saturn, greeted at Greece's largest, busiest port
Greek Energy Minister Skylakakis Announces Subsidies to Mitigate Electricity Prices
“When prices exceed a certain threshold, we intervene,” said Skylakakis
Mitsotakis: Greece is a Beacon of Stability in an Unstable World
Greek Prime Minister Kyriakos Mitsotakis described Greece as a "beacon of stability in an unstable world" following the Epiphany water blessing ceremony at Dexameni Square in Athens.
