REG - Coca-Cola HBC AG - TRADING UPDATE

Coca Cola HBC AGAnnouncement

07/07/2023 07:00

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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 Manager            jemima.benstead@cchellenic.com
 Marios Matar                          Tel: +30 697 444 3335

 Investor Relations Manager            marios.matar@cchellenic.com
 Virginia Phillips                     Tel: +44 (0) 7864 686582

 Investor Relations Manager            virginia.phillips@cchellenic.com

 Media:
 Sonia Bastian                         Tel: +41 7946 88054

 Head of Communications                sonia.bastian@cchellenic.com

 Ciara Cashen                           +353 861940885

 Senior Group Communications Manager   ciara.cashen@cchellenic.com (mailto:ciara.cashen@cchellenic.com)

 

 

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
(https://www.coca-colahellenic.com/) .

 

 

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