Coca-Cola HBC AG Ukraine and Russia conflict update (4604D)
March 03 2022 - 2:00AM
UK Regulatory
TIDMCCH
RNS Number : 4604D
Coca-Cola HBC AG
03 March 2022
Coca-Cola HBC AG
Ukraine and Russia conflict update
Zug, Switzerland - 3 March 2022 - Coca-Cola HBC today provides
an update in relation to the situation in Ukraine.
The safety of our employees is our highest priority. We remain
in constant contact with our people in Ukraine and Russia and are
doing everything we can to support them.
We temporarily stopped production at our plant in Kyiv on the
24th of February and evacuated our employees.
With the release of our full year 2021 results announcement on
22nd February, Coca-Cola HBC set guidance for the year in a wide
range that considered geopolitical risks, as well as headwinds from
commodities and currencies. However, in the last week the situation
involving Ukraine and Russia has clearly developed further and
faster than anticipated.
It is still too early to quantify the impact that the evolving
geopolitical crisis and many governments' developing reactions to
it will have on our business or on our full year 2022 results.
Given that we generated c. 20% of 2021 volumes and EBIT from both
regions, combined with the uncertainty of the duration and economic
impact, we no longer believe that it is prudent to provide guidance
for our group's current financial year.
We continue to execute well in every area where we have control
and will focus on factors that can mitigate the negative headwinds.
We are prepared to utilise revenue growth management actions,
including pricing, to offset currency depreciation and higher input
costs. We are also ready to redeploy marketing spend and capex
investment to other markets. Operating expense management is
embedded in our business and will continue to be a key element of
our plans for the year.
We will update accordingly when we have greater visibility on
the impact of the events in the Ukraine and Russia on our
business.
Enquiries
Coca--Cola HBC Group
Investors and Analysts:
Joanna Kennedy Tel: +44 7802 427505
Investor Relations Director joanna.kennedy@cchellenic.com
Jemima Benstead Tel: +44 7740 535130
Investor Relations Manager jemima.benstead@cchellenic.com
Marios Matar Tel: +30 697 444 3335
Investor Relations Manager marios.matar@cchellenic.com
Media :
David Hart Tel: +41 41 726 0143
Group Communication Director david.hart@cchellenic.com
About Coca--Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods
business and strategic bottling partner of The Coca-Cola Company.
We create value for all our stakeholders by supporting the
socio-economic development of the communities in which we operate
and we believe building a more positive environmental impact is
integral to our future growth. Together, we and our customers serve
715 million consumers across a broad geographic footprint of 29
countries on three continents. Our portfolio is one of the
strongest, broadest and most flexible in the beverage industry,
offering consumer-leading beverage brands in the sparkling, juice,
water, sport, energy, plant-based, ready-to-drink tea, coffee,
adult sparkling and premium spirits categories. These beverages
include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa,
Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our 36,000 employees and we are ranked among
the top sustainability performers in ESG benchmarks such as the Dow
Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange
(LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For
more information, please visit https://www.coca-colahellenic.com
.
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