Last checked at 7 Jul 2023 07:00
FOR IMMEDIATE RELEASE
TRADING UPDATE
COCA-COLA HBC UPGRADES PROFIT EXPECTATIONS AFTER STRONG PERFORMANCE IN FIRST SIX MONTHS OF THE YEAR
Zug, Switzerland - 7 July 2023 - Coca-Cola HBC AG ("Coca-Cola HBC") announces that, after a stronger than anticipated finish to the first six months of the year, it is upgrading its 2023 earnings expectations.
Performance in June, one of our most significant months, was very good overall. As a result, we now expect to deliver strong organic EBIT growth in the first half, led by operating leverage from double-digit top line growth, reflecting good improvements to price / mix.
As a result, we now expect organic EBIT growth for 2023 of 9-12% (previously the top end of a -3 to +3% range).
Our mid-term guidance from 2024 onwards is unchanged. We expect average annual organic revenue growth of 6-7% and average annual organic EBIT margin expansion of 20-40 basis points per annum.
The half-year 2023 results will be published on 9 August at 7:00 am BST.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the EU Market Abuse Regulation.
Enquiries
Coca‑Cola HBC Group
Investor and Analysts: |
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John Dawson Head of Investor Relations | Tel: +44 7522 619509 john.dawson@cchellenic.com | |
Jemima Benstead Investor Relations Manager | Tel: +44 7740 535130 jemima.benstead@cchellenic.com | |
Marios Matar Investor Relations Manager | Tel: +30 697 444 3335 marios.matar@cchellenic.com | |
Virginia Phillips Investor Relations Manager
| Tel: +44 (0) 7864 686582 virginia.phillips@cchellenic.com
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Media: | ||
Sonia Bastian Head of Communications | Tel: +41 7946 88054 sonia.bastian@cchellenic.com | |
Ciara Cashen Senior Group Communications Manager | +353 861940885 ciara.cashen@cchellenic.com
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About Coca‑Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate, and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa Coffee, Valser, Römerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 33,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE: CCH) and is listed on the Athens Exchange (ATHEX: EEE). For more information, please visit https://www.coca-colahellenic.com.