Coca-Cola HBC AG TRADING UPDATE (3262F)
July 07 2023 - 2:00AM
UK Regulatory
TIDMCCH
RNS Number : 3262F
Coca-Cola HBC AG
07 July 2023
FOR IMMEDIATE RELEASE
TRADING UPDATE
COCA-COLA HBC UPGRADES PROFIT EXPECTATIONS AFTER STRONG
PERFORMANCE IN FIRST SIX MONTHS OF THE YEAR
Zug, Switzerland - 7 July 2023 - Coca-Cola HBC AG ("Coca-Cola
HBC") announces that, after a stronger than anticipated finish to
the first six months of the year, it is upgrading its 2023 earnings
expectations.
Performance in June, one of our most significant months, was
very good overall. As a result, we now expect to deliver strong
organic EBIT growth in the first half, led by operating leverage
from double-digit top line growth, reflecting good improvements to
price / mix.
As a result, we now expect organic EBIT growth for 2023 of 9-12%
(previously the top end of a -3 to +3% range).
Our mid-term guidance from 2024 onwards is unchanged. We expect
average annual organic revenue growth of 6-7% and average annual
organic EBIT margin expansion of 20-40 basis points per annum.
The half-year 2023 results will be published on 9 August at 7:00
am BST.
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the EU Market Abuse
Regulation.
Enquiries
Coca--Cola HBC Group
Investor and Analysts:
John Dawson Tel: +44 7522 619509
Head of Investor Relations john.dawson@cchellenic.com
Jemima Benstead Tel: +44 7740 535130
Investor Relations jemima.benstead@cchellenic.com
Manager
Marios Matar Tel: +30 697 444 3335
Investor Relations marios.matar@cchellenic.com
Manager
Virginia Phillips Tel: +44 (0) 7864 686582
Investor Relations virginia.phillips@cchellenic.com
Manager
Media:
Sonia Bastian Tel: +41 7946 88054
Head of Communications s onia .b astian @cchellenic.com
Ciara Cashen +353 861940885
Senior Group Communications ciara.cashen@cchellenic.com
Manager
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 Coffee,
Valser, Römerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry,
Cappy, Monster and Adez. We foster an open and inclusive work
environment amongst our 33,000 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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