Coca-Cola Hellenic Bottling
Coca-Cola Hellenic (CCH - Get Report) produces and distributes Coca-Cola (KO) and other beverages. Although the company is headquartered in Athens, the company conducts operations across 28 European and African nations, including Russia and the former Soviet Republics. Thus, only a small percentage of its revenue is actually coming from Greece. The opportunities for Coca-Cola Hellenic to grow, especially in the emerging and developing markets, are tremendous.
For the first half of 2011, beverage volumes and revenues increased 3%. The company also grew market share in many markets, including Russia. However, due to increasing commodity prices, restructuring costs and weak economic conditions in Europe, net profits and EPS in euros declined by 28% and 27%, respectively. Despite all of those headwinds, the company earned 146 million euros for the first six months of the year.
Coca-Cola Hellenic generates very strong cash flow, which has been applied to paying down its long-term debt and to its dividend. That strong cash flow should continue in the future. Please note that the company typically pays a dividend of about 37 cents per year, but no dividend was declared for 2011. That dividend could be reinstated in the spring of 2012.There is no denying that operations in the eurozone are challenging right now, but Coca-Cola Hellenic does not face the same problems that several governments and banks in Europe do. Stability in the eurozone could add as much as 20% to this company's stock price in 2012. Coca-Cola Hellenic is one of TheStreet Ratings' top-rated beverage stocks. Aegean Marine Petroleum Network Aegean Marine Petroleum Network (ANW - Get Report) provides marine-based fueling, logistics and other services to the global shipping industry in ports and at sea. The company is headquartered in Piraeus, Greece, but has operation thought the world, so only about 5% of its global revenue is derived in Greece. Unfortunately, the company gets painted by the broad brush of all that is bad about the Greek credit situation. As more and more global commerce is being conducted over the seven seas in tankers, container ships, cruise lines and dry bulk ships, the need to supply fuels and other products to these ships is ever increasing. Last week, the U.S. Congress passed a new set of free-trade agreements with South Korea, Colombia and Panama, the first since 1994. President Obama expected to sign these into law today. As a result, even more shipping will take place than ever before.
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