{"id":7541,"date":"2023-10-31T11:54:56","date_gmt":"2023-10-31T11:54:56","guid":{"rendered":"https:\/\/infundpros.com\/markets\/coca-cola-hbc-organic-sales-rise-15-3-in-q3\/"},"modified":"2023-10-31T11:54:57","modified_gmt":"2023-10-31T11:54:57","slug":"coca-cola-hbc-organic-sales-rise-15-3-in-q3","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7541","title":{"rendered":"Coca-Cola HBC\u2019 Organic Sales Rise 15.3% in Q3"},"content":{"rendered":"
\n

Coca-Cola Hellenic Bottling Company\u2019s shares were largely unmoved on Tuesday following the release of forecast-matching third-quarter financials.<\/p>\n

At \u00a321.47 per share, Coca-Cola HBC\u2019s share price was 0.2% higher on the day.<\/p>\n

Revenues at the soft drinks business \u2014 which bottles and sells Coca-Cola\u2019s beverages in European and African regions \u2014 rose 15.3% on an organic basis during the three months to September.<\/p>\n

Demand was especially strong for the FTSE 100 company\u2019s sparkling, energy and coffee drinks, it said. This led organic volumes 2.2% higher from the same 2022 period.<\/p>\n

Volumes of its energy brands like Monster, and coffee drinks including Costa Coffee, leapt 24.8% and 33.5% respectively.<\/p>\n

Organic net sales revenue per case increased 12.9% between July and September, though this was down from 19% in the first half.<\/p>\n

The business said that this reflected “a lower contribution from incremental pricing, as the need for further price increases in the quarter were limited” because of weaker cost inflation.<\/p>\n

Cross-Market Strength<\/h2>\n

<\/fbs-ad><\/p>\n

Organic sales in the Footsie firm\u2019s emerging markets rose 21.8% during quarter three, while comparable revenues in its developing markets increased 15.9% year on year. Established market organic sales rose 7.7%.<\/p>\n

Coca-Cola HBC said that “our performance in the third quarter was in line with expectations, underpinned by a second successive quarter of organic volume growth and despite tougher trading conditions in some markets.”<\/p>\n

On a reported basis turnover was up 3.8% year on year, as solid organic growth offset foreign exchange-related headwinds in the company\u2019s emerging markets.<\/p>\n

For the nine months to September, organic sales were up 17% year on year.<\/p>\n

Coca-Cola HBC said that it continued to expect “mid-teens full-year organic revenue growth” after updating this target back in August. It also maintained its 2023 forecast for organic EBIT growth of between 9% to 12%.<\/p>\n

“Another Solid Performance”<\/h2>\n

Chief executive Zoran Bogdanovic said that “we’re pleased to have delivered another solid performance, and a second consecutive quarter of organic volume growth. This was driven by our strong execution, underpinned by a continued focus on our strategic priority categories of sparkling, energy and coffee, as well as our focus on bespoke capability development to drive personalised execution for every outlet.”<\/p>\n

Bogdanovic added that “we reiterate our guidance for strong growth in 2023 and, despite continued macro uncertainties, we are well placed to deliver on our medium-term targets.”<\/em><\/p>\n

Earlier this year Coca-Cola HBC raised its annual organic revenue growth targets to a range of 6% of 7%. This was up from a previous goal of 5% to 6%. It also announced its intention to achieve average organic EBIT margin expansion of 20 to 40 basis points per year.<\/p>\n

Royston Wild owns shares in Coca-Cola HBC.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Coca-Cola Hellenic Bottling Company\u2019s shares were largely unmoved on Tuesday following the release of forecast-matching third-quarter financials. At \u00a321.47 per share, Coca-Cola…<\/p>\n","protected":false},"author":1,"featured_media":7542,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-7541","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"\nCoca-Cola HBC\u2019 Organic Sales Rise 15.3% in Q3 | inFundPros<\/title>\n<meta name=\"description\" content=\"Coca-Cola Hellenic Bottling Company\u2019s shares were largely unmoved on Tuesday following the release of forecast-matching third-quarter financials. 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