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.