This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Coca-Cola Hellenic Announces 2011 Full Year Results Ended 31 December 2011

ATHENS, Greece, February 15, 2012 /PRNewswire/ --

 

    (Numbers in EUR million
    except per share data)       Full Year  Full Year
                                   2011        2010    % Change
    Volume (million unit cases)    2,083      2,100       -1%
    Net Sales Revenue              6,854      6,794        1%
    Comparable Cost of goods
    sold                           4,257      4,049        5%
    Comparable EBIT                  541        687      -21%
    Comparable Net Profit            330        453      -27%
    Comparable Basic EPS (EUR)      0.91       1.25      -27%
  • Top line: Net sales revenue grew by 1% while volume declined by 1% in 2011. A volume increase of 2% in developing markets was more than offset by a 3% decline in established and a 1% decline in emerging markets.
  • Categories: Sparkling beverages and energy drinks volume increased by 2% and 29% respectively, in 2011. Volume in the water and juice categories declined by 7% and 8%, respectively.
  • Brands: Premium sparkling brands grew ahead of total volume, with Coca-Cola growing 5%, Coca-Cola Zero growing 7%, and Fanta and Sprite growing 1%, each.
  • Share gains: We gained or maintained volume share in sparkling beverages in 25 out of 28 markets in 2011.
  • Comparable operating profit: Despite overall volume and net sales revenue remaining similar to last year, the continuing adverse impact of commodity costs and persisting economic challenges across most of our territories, combined with unfavourable country mix and foreign currency impact resulted in a 21% decline in comparable EBIT.
  • Free Cash Flow and Capex : We generated free cash flow of €438 million in 2011. We plan to invest cumulative capital expenditure of €1.45 billion for the 2012-2014 period.  We expect to generate free cash flow of €1.45 billion in the same period.

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

" We grew revenue ahead of volume both in the fourth quarter and for the full year 2011. Despite extremely challenging economic conditions in most of our markets, net sales revenue per case grew by 4% on a currency neutral basis in the full year. This result was achieved whilst growing or maintaining our volume share in sparkling beverages in twenty five out of twenty eight markets in 2011.

We expect the economic environment and consumer sentiment to remain weak in 2012.  We also anticipate another year of significant input cost pressures. In this environment, we will continue to optimise our operations to reduce our ongoing costs. We remain committed to our revenue growth strategy, and we expect to further improve currency neutral net sales revenue per case while we continue building sustainable leadership in the marketplace.

Stock quotes in this article: CCH 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs