Coca Cola in Greece to invest 75 million euros in 2022 – 2023

Coca-Cola in Greece is “running” an investment plan of 75 million euros for the 2022-2023, and this is cause for optimism according to Ms. Maria Anargyrou-Nikolits, general manager of the company for Greece and Cyprus, despite the adversities due to inflationary pressures, the energy crisis and the problems of the supply chain.

Investments

The company’s investments are focused on five axes: production process, digital transformation, sustainable development, people and market, as was mentioned during a press conference where the economic impact of Coca-Cola’s local activity in Greece was presented.

In particular, at the beginning of 2023 a new line will start operating at the Schimatari factory, while the investments in digital transformation are also very important for the company, with the aim of infusing 5G technology in the soft drinks and juices unit.

Since last year, the Schimatari factory has been producing the Monster energy drink, directed to foreign markets.

In the field of sustainable development, one of the company’s big plans is the installation of photovoltaic panels at the Schimatari factory with the aim of saving energy.

Price increases

In response to a question from the OT regarding the revaluations, Ms. Anargyrou-Nikolic said that from the beginning of 2022, on average, the increases in Coca-Cola 3E products in the domestic market are at 6.9%. However, she noted that the company has absorbed most of the increases in operating costs (energy, raw materials, distribution), while emphasizing that the goal of Coca-Cola 3E is to have proposals for all consumers.

The “household basket”

In terms of inflation, Ms. Anargyrou-Nikolic described the initiative for the “household basket” as very important.

She did point out, however, that “the right model of operation and application should be found in relation to the context of competition”.

Launch of Caffe Vergnano

In the direction of developing a 24/7 product portfolio after Costa Coffee, the launch of Caffe Vergnano, a premium Italian coffee company (Coca Cola HBC has proceeded to acquire 30% of its shares) is expected in early 2023 .

2023 also a “strong year”

After the very good tourist season in 2022, the company is preparing for an equally “strong year” in 2023 as well, investing in HO.RE.CA.

In 2019 the turnover of Coca-Cola in Greece amounted to 574 million euros. In 2020 it fell to 480 million euros (-16.3% compared to 2019), when in the same period, the country’s GDP shrank by 9%. In 2021 the company’s turnover amounted to 552 million euros (+15% compared to the previous year).

It should be noted that Coca-Cola in Greece generates almost 50% of the turnover of the soft drinks sector (48.5%), while it is also the largest employer, employing almost 1 in 2 workers (42.6%).