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Coca-Cola HBC AG on Wednesday reported its half-year outturn topped expectations, ‘despite headwinds’.
The Steinhausen, Switzerland-based bottling partner of the Coca-Cola Co said net sales in the six months to June 30 were up 19% to €5.02 billion, from €4.21 billion the year before.
Earnigns before interest and tax increased 21% to €560.7 million, from €462.5 million the year prior, beating expectations. Pretax profit more than doubled to €527.6 million, from €234.4 million.
Chief Executive Officer Zoran Bogdanovic said: ‘It has been a very good first half of the year with progress across our strategic pillars. Our priority categories of Sparkling, Energy and Coffee, together with a strong performance across all segments, have driven organic revenues and EBIT growth ahead of expectations.’
Coca-Cola HBC said it expects mid-teens full-year organic revenue growth, lifting its outlook from 5.0% to 6.0% growth previously, and Ebit growth in the range of 9% to 12% in 2023, unchanged from the previous guidance.
Revenue in 2022 totalled €9.20 billion.
‘We delivered a better-than-expected financial performance in the first half of 2023, led by price and mix improvements, despite headwinds to our business,’ Coca-Cola HBC said.
‘While we remain attentive to macroeconomic and geopolitical risks, we have high confidence in our broad 24/7 portfolio, the opportunities in our diverse markets, enhanced by our focus on execution and prioritised capabilities, and above all, the abilities of our talented people.’
Shares in Coca-Cola HBC were up 2.6% at 2,318.00 pence in London on Wednesday morning.
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