ATHENS, Greece, February 14, 2013 /PRNewswire/ --
FOURTH QUARTER AND FULL YEAR HIGHLIGHTS Q4 2012 Q4 2011 before before Q4 Q4 % adjustments adjustments % 2012 2011 Change Change Volume (m unit cases) 477 466 2% 476 465 2% Net Sales Revenue 1,605 1,524 5% 1,610 1,529 5% Comparable Cost of Goods Sold 1,050 979 7% 1,054 982 7% Comparable EBIT 56 72 -22% 53 73 -27% Comparable Net Profit 22 29 -22% 22 29 -23% Comparable EPS (EUR) 0.06 0.08 -25% 0.06 0.08 -25% Full Year 2012 Full Year Full before 2011 before Full Year Year % adjustments adjustments % 2012 2011 Change Change Volume (m unit cases) 2,085 2,087 - 2,081 2,083 - Net Sales Revenue 7,045 6,824 3% 7,078 6,854 3% Comparable Cost of Goods Sold 4,518 4,253 6% 4,527 4,257 6% Comparable EBIT 453 523 -13% 465 541 -14% Comparable Net Profit 285 326 -12% 287 330 -13% Comparable EPS (EUR) 0.78 0.90 -13% 0.79 0.91 -13%
Note : All units in €m except per share data and volume data & volume. Numbers before adjustments are excluding the impact of the early adopted accounting standards as detailed in page 14 and in note 1 of the condensed consolidated financial statements.
Fourth Quarter 2012- Volume: Volume grew by 2% in the fourth quarter of 2012. An 8% volume increase in emerging markets and a 1% volume increase in developing markets were partly offset by a 5% volume decline in established markets. - Sales: Net sales revenue grew by 5% registering the sixth consecutive quarter where revenue growth exceeded volume growth. - Comparable operating profit (EBIT): A combination of higher input costs and operating expenses resulted in a EUR16 million year on year decrease in comparable operating profit. Full Year 2012 - Volume: Volume was flat in 2012. Emerging markets posted a 4% volume increase that was offset by a 2% volume decline in developing markets and a 5% volume decline in established markets. - Sales: Net sales revenue grew by 3%, with currency neutral net sales revenue per case growing 2.2% excluding the impact of Belarus. - Comparable operating profit (EBIT): Our revenue growth initiatives more than offset total input cost increases in absolute terms, but were not sufficient to prevent gross margin decline. In addition, unfavourable foreign currency fluctuations and higher operating expenses resulted in a 13% decline in comparable operating profit.
- Full Year 2012 market shares: We continued to win in the marketplace. We gained or maintained volume share in sparkling beverages in 21 out of 28 markets and value share in the overall non-alcoholic ready to drink beverages category in 23 out of 28 of our markets.
- Full Year 2012 free cash flow: Working capital improved by €84 million year-on-year and we generated free cash flow of €341 million.
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