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
Mini Holiday Season in Greece for Upcoming Orthodox Easter
Occupancy rates reach up to 90% domestically for accommodations open ahead of peak summer season
Greek PM Mitsotakis Says Fight Against Inflation Ongoing
The Premier made statement during a visit an an open vegetable market
Unpaid Taxes in Greece Reach 1.539bln Euros
As the figures revealed the number of debtors totaled 3,878,712 individuals and legal entities.
ELSTAT: Greek Primary Surplus Reaches 1.9% of GDP in 2023
Greek debt saw a slight dip to 356.7 billion euros by the end of 2023, down from 356.8 billion euros a year prior
Study: Greece in Top 5 Hotel Investments in Europe
As previously reported by OT, more than 60 hotel projects are set to be developed in Greece over the next four years
GEOAXIS Report: Office Rents Surge by 40% in Ten-Year Span
Geoaxis estimates that the different dynamics in the office market will continue into 2024/2025, predicting stability for older offices, increased demand for renovated spaces, and a slowdown in the rise of rents for modern, green offices
Greece: ‘Godparents’ Basket’ Debuts Today
As part of the program, Greek retailers are obliged to identify the lowest prices of certain categories of products traditionally purchased as Easter gifts by godparents for their godchildren between April 22 until May 4
Brain Waste in Greece: 22.74% of Migrants Overqualified for Jobs
Almost half of all college-educated migrants in Europe are overqualified for their jobs and twice as likely as natives to be unemployed, according to Lighthouse Reports
AB Vassilopoulos Supermarket Vies for 2nd Place in Greek Market
AB Vassilopoulos hopes its focus on its private label, addition of 2-3 company supermarkets and another 50 franchises will help it surpass LIDL
Greek Youth Struggle Amidst Low Wages and Soaring Expenses
Furthermore, 52.7% of respondents attribute Greece's current significant issues to governmental failure, while another 49.1% anticipate continued economic hardship in the nation's future
![Φυσικό αέριο: Γιατί είναι δύσκολη η απεξάρτηση από τη Ρωσία – Τα εμπόδια [Χάρτης]](https://www.ot.gr/wp-content/uploads/2022/07/gas-1-1-90x90.jpg)
