Coca Cola HBC: Third quarter 2015 trading update – Strong volume growth

05.11.2015 12:09

THIRD QUARTER 2015 TRADING UPDATE – STRONG VOLUME GROWTH

THIRD QUARTER 2015 TRADING UPDATE

 

STRONG VOLUME GROWTH

 

Coca-Cola HBC AG, a leading bottler of the brands of The Coca-Cola Company, today announces its 2015 Q3 trading update.

 

Third quarter highlights

  • Volumes gathered momentum with 5.4% growth in the third quarter; the initiatives that delivered good growth in the first half were further helped by good weather and favourable comparatives in parts of our footprint
  • Established markets volumes bounced back well into growth territory in the quarter, particularly in Italy and Austria; the strong Swiss Franc helped revenue growth, while mix was negatively impacted by increased Water volume
  • Developing markets continued to generate very good volume growth, led by Poland and Hungary with all categories posting positive performance; revenue grew at a slower pace reflecting adverse mix
  • In Emerging markets, exceptional volume growth in Romania, Nigeria and Ukraine, mainly in the Sparkling category, more than offset the decline in Russia; currency movements remain a strong headwind impacting revenue
  • FX-neutral net sales revenue per unit case was stable compared to the prior-year quarter; our pricing initiatives remained focused on those Emerging markets most impacted by currency headwinds, while in Established and Developing markets affordability measures, deflationary environment and the adverse category mix restrained the FX-neutral net sales revenue per case improvement

 

Q3 2015 vs. Q3 2014 growth

Volume (%)

Net sales revenue (%)

Net sales revenue per unit case (%)

FX-neutral net sales revenue per unit case (%)

Total Group

5.4

-2.7

-7.8

Established markets

7.4

6.4

-1.0

-3.5

Developing markets

10.4

6.8

-3.3

-3.0

Emerging markets

2.4

-13.0

-15.1

4.0

 

Dimitris Lois, Chief Executive Officer of Coca-Cola HBC AG, commented:

“Our commercial initiatives and a hot summer in parts of Europe contributed to a strong volume performance in the quarter, with growth in all segments and increased momentum in the business. As the year has progressed we have been encouraged by gradually improving market conditions in our European countries, where economic activity has been depressed for many years. We have also benefitted from buoyant trading in many of our emerging markets.

“In the remainder of the year, we will continue to manage the conditions in each of our market segments with the right mix of pricing initiatives, affordability focus and consumer offering, although the four fewer selling days will impact our volumes. Overall, we are confident that in 2015 we will grow volumes across our reporting segments as well as expand Group operating margin.”

 

Third quarter 2015 trading update – Strong volume growth

 

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