Strong first-half gains for bottler Coca-Cola HBC
Bottler Coca-Cola HBC saw sales volume, income and operational profit (EBITDA) grow strongly in the first half of the year.
The company results were helped by continued streamlining of operational costs, but also by increased consumption outside homes as Covid-19 pandemic restrictions were gradually lifted.
Net sales revenue in the first half of 2022 was €4.2 billion, 29.6% higher than during the same period in 2021. Operating profit was €462.5 million, up 32%, and comparable net profit rose 34.5%, to €316.9 million.
In Greece, sales volume rose over 10%, and in non-carbonated drinks, including water, rose more than 15%.
The company has stopped sales of Coca-Cola brands in Russia as a reaction to that country’s invasion of Ukraine but has not stopped its activities there: Its subsidiary, renamed Multon Partners, will further develop local brands Dobry, Rich and Moya Semya.
Asked if the company plans to shut down any of its 10 bottling plans, Coca-Cola HBC CEO Zoran Bogdanovic said that they do not plan to do so.
Bogdanovic added that he expects inflation to stay at similar levels in 2022, but drop in 2023.
