The Coca-Cola Hellenic Bottling Company has seen its net sales rise 3.0% on a currency-neutral basis in full-year 2016, with net sales declining 2.0%, if currency movements are taken into account.
The firm said that revenue per case was up 2.9% over all geographic segments, with volume increasing 0.1%.
In terms of specific markets, Coca-Cola HBC said that Nigeria and Romania posted good growth, which was offset by declines in Russia and weaker volume performance in Italy and Austria.
Comparable EBIT margin increased by 90 basis points, to 8.3%, while increased profits helped generate €431.2 million of free cash flow – up €19.4 million year on year.
“We have delivered solid currency-neutral revenue growth, and another year of significant growth in margins and profits,” said Dimitris Lois, chief executive officer of Coca‑Cola HBC AG.
“Cost and efficiency actions continue to improve profitability and enable the business to maximise the gains from top-line growth. In 2017, we expect slightly better economic conditions to support volume growth. We take confidence from these improving underlying trends, as well as the success of both our commercial activities and cost initiatives, which will remain key focus areas in our plans.”
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.