November 8, 2012
HIGHLIGHTS FOR THE NINE MONTHS
Nine Months Nine Months % Change
Volume (m unit cases) 1,605 1,618 -1%
Net Sales Revenue (EUR m) 5,468 5,326 3%
Comparable Cost of Goods Sold(EUR m) 3,473 3,275 6%
Comparable EBIT (EUR m) 412 468 -12%
Comparable Net Profit (EUR m) 265 302 -12%
Comparable EPS (EUR) 0.73 0.83 -12%
- Top line: Net sales revenue grew by 3%, while volume declined by 1% in the first nine months of 2012. Emerging markets posted a 3% volume increase, which was more than offset by a 5% volume decline in established markets and a 2% volume decline in developing markets.
- Categories: In the first nine months of 2012, volume in the sparkling beverages category was flat. Volume in the tea category grew by 3%, while energy drinks volume grew by 5%. In the water and juice categories, volume declined by 4% and 6% respectively.
- Brands: Volume of trademark Coca-Cola products grew by 1% in the first nine months of 2012, with Coca-Cola growing by 2% 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, Austria, Switzerland, Poland, Russia, Ukraine, Romania, the Czech Republic and Bulgaria.
- Comparable operating profit (EBIT) : The positive impact of our revenue growth initiatives was more than offset by a combination of higher input costs and unfavourable currency movements. As a result, comparable EBIT declined by €56 million in the first nine months.
- Free cash flow and capex: We generated free cash flow of €381 million in the first nine months of 2012, while working capital improved by €35 million year-on-year. We continue to expect to generate free cash flow of €1.45 billion for the 2012-2014 period, while also targeting cumulative capital expenditures of €1.45 billion, over the same period.
, Chief Executive Officer of Coca-Cola Hellenic, commented:
"We achieved both volume and revenue growth in the third quarter, with revenue continuing to grow faster than volume. This performance demonstrates that our strategy, executed with excellence, delivers the desired top line results, even in the current economic climate.