Coca-Cola HBC Sees 4.9% Sales Increase, Boosted By Volume Growth
Coca-Cola Hellenic Bottling Company has reported sales revenue of €6.52 billion for 2017, representing growth of 4.9%, compared to the previous year.
The bottling group saw volumes increase by 2.2%, producing over two billion cases, with "good momentum" in emerging and developing markets.
Sparkling-beverage volumes were up 2.3%, boosted by Coke Zero (+22.4%), Schweppes (+5.1%) and Fanta (+2.7%), as well as new variants and flavour launches.
Water volumes grew by 3% and energy drinks delivered growth of 20%, however, juice volumes declined by 0.8% and ready-to-drink tea was down by 7.1%.
Overall, comparable EBIT was up 20%, to €621 million, benefitting from price increases, positive foreign-exchange impact, and reduction in operating expenses.
"This was an exceptional year for us, and we are delighted to have delivered strong growth in volume, revenue and margin, overall demonstrating significant progress towards our 2020 objectives," said Zoran Bogdanovic, chief executive of Coca-Cola HBC.
"We are excited about the year ahead, which has a particularly strong pipeline of product innovation and commercial activity around our route to market and in-store execution. There is good momentum in the business and a determination to build on our success. We are confident that 2018 will be another successful year," Bogdanovic added.
Bogdanovic, who was appointed CEO last December, following the death of Dimitris Lois, added that he was "fortunate to have taken over a business performing well and with a clear strategic direction."
Coca-Cola HBC is a leading bottler of the Coca-Cola Company, with operations in 28 countries.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.