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LONDON (Alliance News) - Coca-Cola HBC AG on Monday set out its "ambitious" financial targets for 2025.
Looking to continue the bottling company's "bold" targets for 2020, Coca-Cola HBC said it is targeting an average annual revenue growth rate, at constant currency, of between 5.0% and 6.0% up to 2025. In 2018, the company recorded revenue growth of 6.0%.
Coca-Cola HBC also is targeting an earnings before interest & taxes margin of 11% by 2020, improving by 20 to 40 basis points a year, on average, up to 2025. In 2018, the company reported an Ebit margin of 10.2%.
"Today we have announced a new and ambitious plan to continue our strong growth to 2025 which, guided by our vision to become the Leading 24/7 Beverage Partner, targets another step up in financial performance," said Chief Executive Zoran Bogdanovic.
"In 2016 we set out a bold plan for 2020 to deliver strong growth in revenue and margins. We are delivering against these targets and we go into the final stages of this plan as a considerably stronger and more capable organisation," continued Bogdanovic.
For 2016 to 2020, Coca-Cola HBC was targeting average annual revenue growth of between 4% and 5%, at constant currency, with an 11% Ebit margin.
The company said it has made "very strong progress" against these targets, including two consecutive years ahead of its revenue target and a 10.2% Ebit margin in 2018 - which represents a 270 basis points increase since 2016.
"These milestones were achieved whilst managing capital prudently and returning significant value to shareholders," the company added.
Bogdanovic added: "The plan builds on our recent consistent, strong performance and the considerable progress we have made in strengthening our business. We have a broad, 24/7 product portfolio, the commercial capabilities and passionate people to continue to win market share and an extensive, diverse territory with attractive growth characteristics. This exciting combination sets us up well for the future and we are confidently looking forward to the next stage in our development."
Shares in Coca-Cola HBC were down 1.3% Monday at 2,816.00 pence each.
