Business
Half Year Results 2023
Half Year Results 2023.
About this update from Coca-cola Hbc Ag
[{"type":"text","content":"\n\nStrong execution underpins growth for 2023 and beyond\nCoca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, reports its financial results for the six months ended 30 June 2023.\nHalf-year highlights\n· Focused execution of strategic priorities and revenue growth management drives strong organic growth1\no Organic revenue up 17.8%, driven by organic revenue per case growth of 19.0%, led by the effective delivery of price and mix improvements across all categories and segments\no Organic volume growth across our strategic priorities, with Sparkling +1.6%, Energy +20.9% and Coffee +21.9%; while Stills declined 11.2%, led by Water; overall organic volumes -1.0%\no Reported revenue up 19.3%, reflecting strong organic growth and the consolidation of Multon, which more than offset FX headwinds in Nigeria and Egypt\no Value share gains of 60bps in Non-Alcoholic Ready-To-Drink (NARTD); maintained value share in Sparkling\n \n· Organic EBIT up 17.7%, with margin unchanged on an organic basis at 11.2%\no Stronger than expected operating leverage from double-digit top-line growth\no Comparable gross profit margin grew 90 basis points despite comparable Cost of Goods Sold (COGS) per unit case up 13.1%\no Disciplined management of operating costs while increasing resources to further enhance execution in the market with our customers\no Comparable EBIT margin grew 20 basis points\n \n· Segmental highlights: Strong double-digit organic revenue and EBIT growth across all segments\no Established: Organic revenue increased by 16.9%, led by revenue-per-case expansion and a resilient volume performance in key markets; organic EBIT grew 20.8%\no Developing: Organic revenue up 23.6%, driven by revenue-per-case expansion; organic EBIT up 27.2%\no Emerging: Organic revenue up 16.0%, despite pressure on consumer spending from macro headwinds in several markets; organic EBIT grew 13.9%\n \n· Strong EPS growth and robust balance sheet\no Comparable EPS up 22.3%, led by EBIT growth and lower net finance costs\no Strong balance sheet and liquidity; dividend of €0.78 paid in June\n \n· &n...