Coca-cola Hbc Ag · LSE:CCH
Coca-cola Hbc — FY 2025 Earnings Presentation
27 slides from Coca-cola Hbc's earnings presentation, Feb 10, 2026
Slide 1: Full Year 2025 Results
Full Year 2025 Results 10 February 2026
Slide 2: 2025 Highlights
2025 Highlights Zoran Bogdanovic Chief Executive Officer
Slide 3: A year of strategic and operational progress
FY 2025 highlights Delivering strong performance Driving continued profitable growth A year of strategic and operational progress Consistent strong Ongoing investment to Announced milestone growth & share gains unlock future growth acquisition1of CCBA2 Five-year track record of Investing in our Crea
Slide 4: Strong financial performance in 2025
FY 2025 highlights Delivering strong performance Driving continued profitable growth Strong financial performance in 2025 Organic revenue growth Comparable EBIT Comparable EBIT margin +8.1% €1,356 million 11.7% (+60 bps YoY) Organic volume growth Organic EBIT growth Comparable EPS +2.8% +11.5% €2.72
Slide 5: Acquisition of CCBA driven by a compelling strategic rationale
FY 2025 highlights Delivering strong performance Driving continued profitable growth Acquisition of CCBA driven by a compelling strategic rationale Materially expands our existing African presence, bringing together two leading bottlers in the continent Drives further diversification of our geograph
Slide 6: Acquisition progressing in line with plans
FY 2025 highlights Delivering strong performance Driving continued profitable growth Acquisition progressing in line with plans Agreement to acquire Coca-Cola Beverages Africa announced on 21 October 2025 • Received approval of Coca-Cola HBC shareholders • Coca-Cola HBC is seeking a secondary listin
Slide 7: Sustainability achievements driving performance
FY 2025 highlights Delivering strong performance Driving continued profitable growth Sustainability achievements driving performance PACKAGING WATER CLIMATE • DRS1 launched in Austria and Poland • Ranked ‘A-list’ in Climate • Ranked ‘B-’ by ISS ESG, • Average return rates of over 80% in 2025 and Wat
Slide 8: Strong financial performance
Strong financial performance Anastasis Stamoulis Chief Financial Officer
Slide 9: Focused execution drives strong organic revenue growth
FY 2025 highlights Delivering strong performance Driving continued profitable growth Focused execution drives strong organic revenue growth • Strong revenue growth, up 8.1% • Volume growth of 2.8% driven by Sparkling (+2.5%) and Energy (+28.3%) 16.9% 13.8% 8.1% • Revenue per case growth of 5.1%, ref
Slide 10: Double-digit organic EBIT growth and strong margins
FY 2025 highlights Delivering strong performance Driving continued profitable growth Double-digit organic EBIT growth and strong margins • Organic EBIT growth of 11.5% and Comparable EBIT growth of 13.8% to €1,356.2m €m • Comparable EBIT margin of 11.7%, up 60 bps vs 2024, up 40 bps on an organic ba
Slide 11: Established markets
FY 2025 highlights Delivering strong performance Driving continued profitable growth Established markets Revenue growth despite a mixed consumer environment • Revenues up 2.3% • Volumes flat − reflecting mixed trends across markets − good growth from Coke Zero, up high-single digits and Sprite, up m
Slide 12: Developing markets
FY 2025 highlights Delivering strong performance Driving continued profitable growth Developing markets Solid revenue and EBIT performance • Revenues up 6.1% • Volume up 0.8% − Sparkling volumes up, driven by Coke Zero and Sprite − Energy saw strong double-digit growth − Stills declined high-single
Slide 13: Emerging markets
FY 2025 highlights Delivering strong performance Driving continued profitable growth Emerging markets Strong performance with EBIT margin expansion • Revenue up 13.2% driven by volume and good price mix • Volume up 4.4% − Sparkling up mid-single digits; mid-single digit growth in Trademark Coke, Spr
Slide 14: Comparable EPS up 19.7%
FY 2025 highlights Delivering strong performance Driving continued profitable growth Comparable EPS up 19.7% • Strong EPS growth, supported by strong EBIT EPS ROIC delivery and lower finance costs vs. prior year +19.7% +100bps to 19.4% • Comparable effective tax rate of 27.1%, in Comparable net prof
Slide 15: Strong balance sheet
FY 2025 highlights Delivering strong performance Driving continued profitable growth Strong balance sheet 6% Total capital expenditure 23% breakdown % • Capex increased €148.3 million to €827.6 million, Coolers and marketing as we invested in: 16% Digital 55% Production & Facilities − capacity expan
Slide 16: Capital allocation discipline
FY 2025 highlights Delivering strong performance Driving continued profitable growth Capital allocation discipline driving higher returns for shareholders Clear capital allocation framework € 1. Organic investment in the business 44% capex target 6.5% to 7.5% of revenue 46% 45% 45% 45% 1.20 2. Progr
Slide 17: 2026 outlook
FY 2025 highlights Delivering strong performance Driving continued profitable growth 2026 outlook • Expect to deliver further progress against our medium-term targets in 2026 • Organic revenue growth in our medium-term range of 6% to 7% • Organic EBIT growth in the range of 7% to 10% 17 Coca-Cola HB
Slide 18: Driving continued profitable growth
Driving continued profitable growth Zoran Bogdanovic Chief Executive Officer
Slide 19: We have a track record of consistent growth
FY 2025 highlights Delivering strong performance Driving continued profitable growth We have a track record of consistent growth driven by our portfolio, capabilities and markets 2025 5-year average1 Volume +2.8% +3.9% Price/mix +5.1% +10.5% Revenue +8.1% +14.7% EBIT +11.5% +13.7% 1. Five-year avera
Slide 20: Sparkling
FY 2025 highlights Delivering strong performance Driving continued profitable growth Sparkling Continues to be the core driver of our growth • Continued close partnership with The Coca-Cola Company; roll out of ‘Share a Coke’ campaign • Coke Zero up low-double digits • Accelerated Sprite growth • Ad
Slide 21: Energy
FY 2025 highlights Delivering strong performance Driving continued profitable growth Energy Tenth consecutive year of strong double-digit volume growth • Diversified portfolio with segmented approach • Contributing 9% to Group revenue • Successful Monster innovations including new Monster drink with
Slide 22: Coffee
FY 2025 highlights Delivering strong performance Driving continued profitable growth Coffee Strong growth in the out-of-home channel • Executed on our joint strategic decision with Costa Coffee to focus on out-of-home channel • Recruited 2,100 new out-of- home outlets • Building a strong, credible b
Slide 23: Stills, Premium Spirits, Snacks
FY 2025 highlights Delivering strong performance Driving continued profitable growth Stills, Premium Spirits, Snacks Stills Premium Spirits Snacks -1.0% volume +12.2% volume +15.2% volume • Prioritising profitable revenue • Strong growth of Finlandia Vodka; • Bambi plant reopened and fully growth in
Slide 24: Investing in bespoke capabilities
FY 2025 highlights Delivering strong performance Driving continued profitable growth Investing in bespoke capabilities to drive execution and capture market share • Dynamic routing tool live in 22 markets, reducing travel time by 15% • Addressing affordability and premiumisation needs through a rang
Slide 25: Strong execution and financial performance in 2025
FY 2025 highlights Delivering strong performance Driving continued profitable growth Strong execution and financial performance in 2025 Consistent strong growth and share gains Ongoing investment to unlock future growth Announced milestone acquisition of CCBA 25 Coca-Cola HBC FY 2025 Results
Slide 26: Q&A
Q&A
Slide 27: Forward-looking statement
Forward-looking statement This document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always, be identified by the use of words such as ‘believe’, ‘outlook’, ‘guidance’, ‘intend’, ‘expect’, ‘anticipate’, ‘plan’, ‘target’ and similar