(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.