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STRONGLY IMPROVED TRADING IN Q3
STRONGLY IMPROVED TRADING IN Q3.
About this update from Coca-cola Hbc Ag
[{"type":"text","content":"\n \n \n \n RNS Number : 9035E\n Coca-Cola HBC AG\n 11 November 2020\n \n \n \n \n THIRD QUARTER 2020 TRADING UPDATE\n \n \n \n \n \n STRONGLY IMPROVED TRADING IN Q3\n \n \n \n \n \n Coca-Cola HBC AG, \n a growth-focused C\n onsumer \n P\n ackaged \n G\n oods \n business and strategic bottling partner of The Coca-Cola Company, today announces its 2020 Q3 trading update.\n \n \n Third quarter highlights\n \n \n · \n Strong improvement in trading in Q3 with recovery in the out-of-home channel and growth in the at-home channel \n \n \n · \n FX-neutral revenue -2.6% or -0.3% like-for-like1 and showing monthly sequential improvement\n \n \n - \n Volumes -1.4% reported and +1.0% like-for-like1; with volumes positive in August and September \n \n \n - \n FX-neutral revenue per case declined by -1.2% on both a reported and like-for-like1 basis, a significantly improved trend compared to Q2, driven by better performance in channel and package mix as trading in the out-of-home channel improved compared to Q2\n \n \n - \n Strong market share performance continues with 40bps of value share gained YTD and the majority of our markets gaining or maintaining share\n \n \n · \n FX-neutral revenue benefited from the strong positive performance in Nigeria, Russia and Poland; three of our five largest markets\n \n \n \n - \n Established: -5.4%; volume -8.6% with strong recovery in price/mix as trading improved in the out-of-home channel. Volumes -5.1% excluding Greece which was heavily impacted by lack of international tourism this summer \n \n \n - \n Developing: -0.1%; volume +2.5% led by strong volume performance in Poland, while an improved price/mix trend compared to Q2 was broad based across our Developing segment markets \n \n \n - \n Emerging: -1.3%; volume +1.2%, or on a like-for-like1 basis revenue +4.2% with volume +5.8%; strong like-for-like1 performance in Nigeria and Russia which both grew volumes double-digit\n \n \n · \n Anticipated combined net impact of FX and raw materials for FY2020 continues unchanged vs original budget, as benefits from lower commodity costs offset weaker FX \n \n \n · \n Strong progress on cost control leads us to increase our previous €100m cost savings target by €20m for the full year, further supporting EBIT and margin recovery \n \n \n · \n Stron...