This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Coca-Cola Hellenic Announces Q1 Earnings Results

ATHENS, Greece, May 10, 2012 /PRNewswire/ --

Results for the Three Months Ended 30  March 2012

FIRST QUARTER 2012 HIGHLIGHTS

                                       2012       2011      % Change

    Volume (m unit cases)               425        434        -2%
    Net Sales Revenue (EUR m)         1,437      1,416         1%
    Comparable Cost of Goods Sold
    (EUR m)                             942        895         5%
    Comparable EBIT (EUR m)              (2)        28       n/a
    Comparable Net Loss (EUR m)         (19)        (1)     >100%
    Comparable EPS (EUR)              (0.05)      0.00       n/a
  • Top line: Net sales revenue grew by 1% while volume declined by 2% in the first quarter of 2012. Volume was flat in developing markets and declined by 2% and 3% in established and emerging markets, respectively.
  • Categories: Volume in the sparkling beverages category was flat while energy drinks volume increased by 6%. Volume in the water and juice categories declined by 6% and 5%, respectively.
  • Brands: Trademark Coca-Cola products grew ahead of total volume, with Coca-Cola regular growing by 3% and Coca-Cola Zero growing by 10%.
  • Share gains: We gained or maintained volume share in sparkling beverages in most of our markets including Italy, Switzerland, Austria, Poland, Hungary, Russia, Ukraine and Bulgaria.
  • Comparable Operating profit: Revenue growth management initiatives fully off-set total input cost increases in the first quarter despite the year on year impact being much higher. Nevertheless, a combination of lower volume, higher operating expenses and unfavourable foreign currency fluctuations resulted in a €29 million year on year decrease in comparable EBIT.
  • Free  Cash flow  and Capex : Free cash outflow was at €32 million, representing an improvement by €35 million compared to the prior year period despite reduced profitability. For the period 2012-2014 we plan to invest cumulative capital expenditure of €1.45 billion and expect to generate free cash flow of €1.45 billion.

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

" We managed to deliver revenue growth ahead of volume performance amidst a challenging external environment, with currency neutral net sales revenue per unit case growth of 3%, excluding the hyperinflation impact of Belarus. We also continued to win in the marketplace, growing or maintaining our market position in most of our markets, with Trademark Coca-Cola products growing in all three reporting segments.

We continue to witness macroeconomic uncertainty in all of our EU markets. We are also facing persistent input cost pressures, whose year on year growth peaked in the first quarter. Our strong focus on revenue growth initiatives, improvement in operating efficiencies and financial discipline leaves us confident that our strategy will allow us to continue growing revenues and sustaining strong free cash flow generation in 2012.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,899.44 -76.87 -0.43%
S&P 500 2,078.80 -7.44 -0.36%
NASDAQ 4,928.3850 -19.0560 -0.39%

Partners Compare Online Brokers

Free Reports

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