Coca-Cola HBC 1Q Net Sales Revenue Rose Beating Consensus
May 03 2023 - 3:14AM
Dow Jones News
By Anthony O. Goriainoff
Coca-Cola HBC AG said Wednesday that first-quarter net sales
revenue rose, beating consensus, and that it had greater confidence
in achieving positive organic EBIT growth in 2023.
The bottler for Coca-Cola Co.--listed in both London and
Athens--generated net sales revenue of 2.20 billion euros ($2.42
billion) compared with EUR1.77 billion for the first quarter of
2022.
Net sales revenue consensus was EUR2.05 billion, taken from Vuma
and based on 18 analysts' estimates.
This was as volumes rose 2.6% to 621.1 million unit cases, and
revenue per unit case was 21.3% higher at EUR3.55. A unit case
contains 5.68 liters, or 24 servings.
The company said sparkling volumes grew by 2.9%, excluding
Russia and Ukraine, and were driven by Trademark Coke up mid-single
digits with overall sparkling volumes falling 1.6%. Energy volumes
rose 23.8%, excluding Russia and Ukraine, with overall energy
volumes up 11.9%. Excluding Russia and Ukraine coffee grew 25%,
with good performance across all segments. Still volumes fell 13.3%
as growth in sports drinks was offset by declines elsewhere,
notably in water, the company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
May 03, 2023 02:59 ET (06:59 GMT)
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