TIDMCCH
RNS Number : 3126A
Coca-Cola HBC AG
06 June 2016
FOR IMMEDIATE RELEASE
Coca-Cola HBC AG Investor Day
ENTERING THE GROWTH ERA
Coca-Cola HBC AG ("Coca-Cola HBC", "Company"), a leading bottler
of the brands of The Coca-Cola Company, is hosting an investor
event in London today, 6 June 2016, where management will present
to investors and analysts on the Group's medium-term strategy.
The Company reported its first quarter trading update on 13 May
2016. No new trading information will be provided at the investor
day. We will be discussing our plans to promote volume and value
growth, and further improvements to operational efficiency.
In 2015 we delivered the best performance in five years in terms
of volume growth and margin progression. We believe this reflects
the underlying strengths of our organisation, including the
flexibility to respond to evolving consumer trends and a dynamic
retail landscape.
Looking ahead, we expect an improving external environment to
support growth in our markets over the period to 2020, including
average annual non-alcoholic ready-to-drink industry volume growth
of approximately 1.5% across our territory. This stronger backdrop,
combined with the inherent growth opportunities in our portfolio,
underpins our aspirations for an acceleration of performance going
forward. Assuming this level of industry volume growth, our
medium-term growth targets include:
-- average annual revenue growth rate in the range 4-5% on a
currency-neutral basis (2015: 2.9%);
-- a reduction in comparable operating expenses as a percentage
of net sales revenue to 26-27% (2015: 29.2%); and
-- comparable EBIT(1) margin improvement to 11% (2015: 7.5%).
We reiterate our capital expenditure target as 5.5-6.5% of net
sales revenue and our commitment to maintaining a negative working
capital balance sheet position.
Dimitris Lois, Chief Executive Officer of Coca-Cola HBC AG,
commented
"Over five years and in a difficult external environment, we
have created a more efficient and stronger business that is now
primed for growth in improving market conditions. We have a
balanced spread of territories with structurally attractive
characteristics and specific plans for growth. We have reflected
these factors in our new targets, announced today, which illustrate
our confidence in the medium-term potential of the business."
(1) Earnings before interest and tax
Webcast details
The presentations will be webcast live from 15:00 Swiss time
onwards (14:00 London, 16:00 Athens and 9:00 New York time) on the
company's website, www.coca-colahellenic.com/en/investors. The
webcast should last about three hours and will also be available
for replay after the event.
Enquiries
Coca--Cola HBC Group
Basak Kotler
Investor Relations Tel: +44 7540 153566
Director basak.kotler@cchellenic.com
Nikos Efstathopoulos
Investor Relations Tel: +30 210 618 3260
Manager nikos.efstathopoulos@cchellenic.com
Caroline Crampton
Investor Relations Tel : +44 7786 515782
Manager caroline.crampton@cchellenic.com
International media
contact:
Teneo Tel: +44 20 7240 2486
Rob Morgan robert.morgan@teneostrategy.com
Anushka Mathew anushka.mathew@teneostrategy.com
Greek media contact:
V+O Communications Tel: +30 211 7501219
Argyro Oikonomou ao@vando.gr
Disclaimer
This document contains forward-looking statements that involve
risks and uncertainties. These statements may generally, but not
always, be identified by the use of words such as "believe",
"outlook", "guidance", "intend", "expect", "anticipate", "plan",
"target" and similar expressions to identify forward-looking
statements. All statements other than statements of historical
facts, including, among others, statements regarding our future
financial position and results, our outlook for 2016 and future
years, business strategy and the effects of the global economic
slowdown, the impact of the sovereign debt crisis, currency
volatility, our recent acquisitions, and restructuring initiatives
on our business and financial condition, our future dealings with
The Coca-Cola Company, budgets, projected levels of consumption and
production, projected raw material and other costs, estimates of
capital expenditure, free cash flow, effective tax rates and plans
and objectives of management for future operations, are
forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they reflect our
current expectations and assumptions as to future events and
circumstances that may not prove accurate. Our actual results and
events could differ materially from those anticipated in the
forward-looking statements for many reasons, including the risks
described in the 2015 Integrated Annual Report for Coca-Cola HBC AG
and its subsidiaries.
Although we believe that, as of the date of this document, the
expectations reflected in the forward-looking statements are
reasonable, we cannot assure you that our future results, level of
activity, performance or achievements will meet these expectations.
Moreover, neither we, nor our directors, employees, advisors nor
any other person assumes responsibility for the accuracy and
completeness of the forward-looking statements. After the date of
the condensed consolidated financial statements included in this
document, unless we are required by law or the rules of the UK
Financial Conduct Authority to update these forward-looking
statements, we will not necessarily update any of these
forward-looking statements to conform them either to actual results
or to changes in our expectations.
In the United Kingdom, this announcement and the information
presented herein is only being distributed to and is only directed
at persons that are (i) investment professionals falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or (ii) high net
worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order
(all such persons together being "Relevant Persons"). Persons who
are not Relevant Persons should not take any action on the basis of
this announcement and should not act or rely on it.
Nothing in this press release should be construed as a profit
forecast. There is no certainty over timing or probability of
achieving these targets and they are dependent on a variety of
assumptions and factors, both Coca-Cola HBC AG specific and
otherwise.
About Coca--Cola HBC
Coca-Cola HBC is a leading bottler of The Coca-Cola Company with
a sales volume of more than 2 billion unit cases. It has a broad
geographic footprint with operations in 28 countries serving a
population of approximately 594 million people. Coca-Cola HBC
offers a diverse range of non-alcoholic ready to drink beverages in
the sparkling, juice, water, sport, energy, tea and coffee
categories. Coca-Cola HBC is committed to promoting sustainable
development in order to create value for its business and for
society. This includes providing products that meet the beverage
needs of consumers, fostering an open and inclusive work
environment, conducting its business in ways that protect and
preserve the environment and contribute to the socio-economic
development of the local communities. Coca-Cola HBC is ranked
beverage industry leader in the Dow Jones Sustainability World and
Europe Indices, and is also included in the FTSE4Good Index.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE: CCH) and its shares are listed on the Athens Exchange (ATHEX:
EEE). For more information, please visit
http://www.coca-colahellenic.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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