Business
KEEPING OUR PEOPLE SAFE AND CUSTOMERS SERVED
KEEPING OUR PEOPLE SAFE AND CUSTOMERS SERVED.
About this update from Coca-cola Hbc Ag
[{"type":"text","content":"\n \n \n RNS Number : 1924M\n Coca-Cola HBC AG\n 07 May 2020\n \n \n \n \n \n \n \n FIRST QUARTER 2020 TRADING UPDATE\n \n \n \n \n \n \n KEEPING OUR PEOPLE SAFE\n \n \n AND CUSTOMERS SERVED\n \n \n \n \n \n \n Coca-Cola HBC AG, a leading consumer products business and strategic partner of The Coca-Cola Company, today \n announces its 2020 Q1 trading update\n .\n \n \n \n \n \n First quarter highlights\n \n \n · \n All employees safe, customers that are open for business supplied, production and logistics operating\n \n \n · \n Strong trading in January and February; weaker results in March as government lockdowns severely impacted the out-of-home channel \n \n \n · \n Q1 FX-neutral revenue declined by -1.2%, or -0.5% adjusted for trading days and Bambi\n \n 1\n \n \n \n - \n Q1 Volumes increased by 3.1% as good growth YTD February was partly offset by a decline in March. Fewer selling days is estimated to have cost 2.1pp of growth in the quarter (ex Bambi)\n \n 2\n \n \n \n - \n FX-neutral revenue per case declined by 4.1% driven by negative country mix from strong growth in Nigeria following prior-year pricing actions (-2.2pp impact), the discontinuation of Lavazza Coffee (-0.8pp impact) as well as a shift in channel and pack mix caused by significantly reduced volumes in the out-of-home channel, growth in discounters and supermarkets, and a shift into large format packs in March\n \n \n - \n Gained\n or maintained share in the majority of our markets\n \n \n · \n FX-neutral revenue growth by segment heavily influenced by timing and severity of lockdowns\n \n \n - \n Established: -7.2%; volume -5.5% as countries in this segment entered lockdown first and derive a larger proportion of revenues from the out-of-home channel \n \n \n - \n Developing: -2.9%; volume growth of 1.8% was offset by negative pack mix due to lockdown measures and strong growth from organised trade \n \n \n - \n Emerging: +4.8%; volume growth of 8.1% with continued growth in most markets and double-digit volume growth in Nigeria which entered lockdown after the quarter end \n \n \n · \n In April, with every market in lockdown\n 3\n , FX-neutral revenue fell -37.2% and volumes -27.3% (ex.Bambi)\n \n \n · \n Anticipated combined net impact of FX and raw materials for 2020 unchanged; benefits f...