EXCEPTIONAL SET OF RESULTS
Coca-Cola HBC AG a leading bottler of The Coca-Cola Company reports its financial results for the full year ended 31 December 2017.
Full-year highlights
˗ acceleration compared to 2016 driven by price increases taken in the Emerging segment and better package and category mix across the business
˗ good momentum in Emerging and Developing segment countries except for Nigeria and Russia which delivered marginally lower volumes in challenging environments
˗ growth in both Sparkling and Still drinks
˗ benefits of revenue growth management initiatives including price increases
˗ carefully managed input costs and a marginally positive foreign exchange impact
˗ marketing spend up 10 basis points as percentage of revenue to invest in future growth
˗ operating leverage drove a 30 basis-point reduction in comparable operating expenses as a percentage of net sales revenue
|
| Full Year | Change | |
|
| 2017 | 2016 |
|
| Volume (m unit cases) | 2104.1 | 2057.9 | 2.2% |
| Net sales revenue (€ m) | 6522.0 | 6219.0 | 4.9% |
| Net sales revenue per unit case (€) | 3.10 | 3.02 | 2.6% |
| FX-neutral net sales revenue1 (€ m) | 6522.0 | 6157.2 | 5.9% |
| FX-neutral net sales revenue per unit case1 (€) | 3.10 | 2.99 | 3.6% |
| Operating expenses (€ m) | (1849.2) | (1792.5) | 3.2% |
| Comparable operating expenses1(€ m) | (1821.5) | (1756.8) | 3.7% |
| Operating profit (EBIT)2 (€ m) | 589.8 | 506.3 | 16.5% |
| Comparable EBIT1 (€ m) | 621.0 | 517.5 | 20.0% |
| EBIT margin (%) | 9.0 | 8.1 | 90bps |
| Comparable EBIT margin1 (%) | 9.5 | 8.3 | 120bps |
| Net profit3 (€ m) | 426.0 | 343.5 | 24.0% |
| Comparable net profit13 (€ m) | 449.7 | 352.1 | 27.7% |
| Basic earnings per share (EPS) (€) | 1.168 | 0.949 | 23.1% |
| Comparable EPS1 (€) | 1.233 | 0.972 | 26.9% |
| Free cash flow1 (€ m) | 425.9 | 431.2 | -1.2% |
1For details on APMs refer to 'Alternative Performance Measures' and 'Definitions and reconciliations of APMs' sections.
2 Refer to the condensed consolidated income statement.
3Net Profit and comparable net profit refer to net profit and comparable net profit respectively after tax attributable to owners of the parent.
Zoran Bogdanovic Chief Executive Officer of Coca-Cola HBC AG commented:
"I am fortunate to have taken over a business performing well and with a clear strategic direction. 2017 was an exceptional year for us and we are delighted to have delivered strong growth in volume revenue and margin overall demonstrating significant progress towards our 2020 objectives.
"We are excited about the year ahead which has a particularly strong pipeline of product innovation and commercial activity around our route to market and in-store execution. There is good momentum in the business and a determination to build on our success. We are confident that 2018 will be another successful year."