COCA COLA HBC: Αποτελέσματα α' εξαμήνου (αγγλικά)

Δημοσιεύθηκε: 11 Αυγούστου 2016 - 11:06

TOP-LINE GROWTH DELIVERS PROFIT AND MARGIN EXPANSION

Coca-Cola HBC AG, a leading bottler of The Coca-Cola Company, reports its financial results for the six-month period ended 1 July 2016.

Half-year highlights

FX-neutral net sales revenue grew by 2.4%, or 3.0% taking into account the one less selling day; currencies continue to impact adversely, leading to a 3.4% decline in net sales revenue
Robust increase in FX-neutral revenue per case of 2.4%, mainly due to better pricing trends across all segments compared to the prior-year period and a 110 basis point improvement in package mix
Volume increased marginally on a strong prior-year period; taking into account the one less selling day in Q1, volume grew by 0.7%

- Volume in the Established markets declined by 2.8%, partly impacted by unseasonably cool weather

- The Developing segment continued to demonstrate good volume growth momentum with all key categories contributing to the 3.5% volume growth

- Nigeria, Romania and Serbia were key drivers of the 0.5% volume growth in the Emerging markets segment, which continued to be negatively impacted by Russia

Cost efficiencies and revenue leverage resulted in a 45 basis point reduction in comparable operating expenses as percentage of net sales revenue
Comparable EBIT margin increased by 60 basis points to 7.5%, benefiting from our revenue growth management initiatives, favourable input costs and cost efficiencies, which more than offset the adverse currency impact; EBIT margin improved by 90 basis points to 7.2% on a reported basis
Comparable earnings per share was €0.416 – a 6.9% increase on the prior-year period; basic earnings per share was €0.387 - a 12.5% increase on the prior-year period

	Half-year		Change
	2016	2015
Volume (m unit cases)	1,007.3	1,006.6	0.1%
Net sales revenue (€ m)	3,043.9	3,150.9	-3.4%
Net sales revenue per unit case (€)	3.02	3.13	-3.5%
FX-neutral net sales revenue¹(€ m)	3,043.9	2,972.5	2.4%
FX-neutral net sales revenue per unit case¹ (€)	3.02	2.95	2.4%
Operating profit (EBIT) (€ m)	220.6	199.1	10.8%
Comparable EBIT¹ (€ m)	229.6	219.0	4.8%
EBIT margin (%)	7.2	6.3	90bps
Comparable EBIT margin¹ (%)	7.5	7.0	60bps
Net profit² (€ m)	140.0	125.2	11.8%
Comparable net profit^1,2 (€ m)	150.4	141.7	6.1%
Basic earnings per share (EPS) (€)	0.387	0.344	12.5%
Comparable EPS¹ (€)	0.416	0.389	6.9%

1For details on APMs refer to 'Alternative Performance Measures' and 'Definitions and reconciliations of APMs' sections.

2Net Profit and comparable net profit refer to net profit and comparable net profit respectively after tax attributable to owners of the parent.

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

"We are pleased with the strong performance in the first half of the year. The business delivered robust revenue growth and significant margin expansion, driven by improved pricing and mix trends, good progress on operating costs and a favourable input cost environment.

"We remain confident that 2016 will be another year of currency-neutral revenue and operating margin growth."
Half-yearly financial report for the six months ended 1 July 2016