Soft drink bottler Coca-Cola HBC AG has reported a 9.6% rise in full-year comparable core profit, boosted by higher volumes and lower costs.
Comparable earnings before interest and tax rose to €680.7 million for the year ended December 31 from €621 million, a year earlier.
On a per share basis, the company earned 1.306 euros.
Volume was up 4.2% to 2.19 billion cases, up from 2.14 billion cases last year.
Step Up In Margins
“In 2018, we delivered another very good performance with revenue growth above our target range and another step up in margins,” commented Zoran Bogdanovic, chief executive of Coca-Cola HBC AG “Strong volume growth in all our segments was helped by a record number of new product launches, whilst price/mix improved for the eighth consecutive year.”
Bogdanovic added that this growth supported margin progress at the business, which was delivered by also increasing its investment in marketing.
“This growth supported margin progress, which we delivered while increasing our
investment in marketing,” he said.
“Our sharp focus on cost efficiencies continues while we invest in the business for growth. The shape of the business, capabilities and commitment of our people and our overall commercial proposition give us confidence in our ability to continue to grow revenues and margins.”
News by Reuters, edited by ESM. Additional reporting by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.
