HIGHLIGHTS FOR THE NINE MONTHS Nine Months Nine Months % Change 2012 2011 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.