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The Coca-Cola Company Reports Full-Year And Fourth Quarter 2013 Results

Stocks in this article: KO

The Coca-Cola Company today reported full-year and fourth quarter 2013 results. Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company said, “2013 was marked by ongoing global macroeconomic challenges in many markets around the world. And while our business was not immune to these pressures leading to moderated global volume growth, we delivered sound financial results in line with our long-term profit targets and gained global value share in total nonalcoholic ready-to-drink beverages as well as global volume and value share in core sparkling and still beverages for the year.

“While we move forward in what remains an uncertain global economy, the long-term fundamentals driving our business and industry have not changed. A rising middle class, greater urbanization and increasing personal consumption expenditures in markets around the world will continue to drive greater demand for our beverages as consumers look for moments of refreshment. As we work to restore momentum in our business during 2014, we see many reasons to believe we can accelerate our growth and achieve our 2020 Vision. We are committed to accelerating marketing investments in our brands, further advancing our innovation strategies and maximizing productivity and reinvestment for growth. All of us at The Coca-Cola Company remain resolute in our commitment to deliver results in line with our long-term growth model and 2020 Vision for sustainable value and success.”

PERFORMANCE HIGHLIGHTS

The Coca-Cola Company reported worldwide volume growth of 2% for the full year and 1% for the fourth quarter. While economic, political and environmental conditions across various regions impacted consumer spending and overall nonalcoholic ready-to-drink (NARTD) beverage industry performance during the year, we grew global value share in NARTD beverages, with volume and value share gains in core sparkling and still beverages for the year, supported by the strongest portfolio of brands in the industry. The Company reported solid volume growth for the full year in certain developed markets, including Germany (+2%), the Northwest Europe and Nordics business unit (+1%) and Japan (+1%). Our China and India businesses both grew slower than in recent years amidst slowing economic environments, but saw stronger performance in the second half of the year due to a focus on execution and normalized weather.

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