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(Alliance News) - Coca-Cola HBC AG on Wednesday said it has made a good start to 2021, maintaining the momentum seen in the final quarter of 2020.
Forex-neutral revenue growth in the three months to the end of March was 2.7% to EUR1.35 billion, or 6.1% like-for-like, driven by Sparkling and Energy drinks, emerging markets, and the at-home channel. On a reported basis, net sales revenue fell 4.0%.
Volumes were up 1.5% to 490.8 million unit cases, or 4.7% like-for-like, the soft drinks bottler noted, with Sparkling and Energy together growing 11%.
Coca-Cola HBC highlighted that it saw particularly strong performance from low and no‑sugar variants, which grew volumes by double digits.
Less positively, the company noted the still drinks category declined by 22%, or by 11% on a like-for-like basis. The category was weighed down by Water which dependent on the out‑of‑home channel and declined by 17%.
"The speed and shape of recovery from the pandemic remains uncertain, but first quarter puts us on track to achieve our 2021 guidance for a strong recovery in FX-neutral revenue, along with a small increase in earnings before interest and tax margin," said Chief Executive Zoran Bogdanovic.
Coca-Cola HBC shares were trading 0.4% higher in London on Wednesday morning ta 2,493.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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