Subscribe Login
Drinks

World Cup Helps Coca-Cola HBC's Sales, But Earnings Fall Short

By Dave Simpson

Soft drink bottler Coca-Cola HBC has reported higher-than-expected half-year revenue, helped by warm weather across Europe and the World Cup soccer tournament.

The bottler of Coca-Cola drinks said net revenue was €3.23 billion in the first half of the year, slightly ahead of analysts' estimates for €3.22 billion, according to Jefferies analysts.

That represented a jump of 6.4% on a currency-neutral basis, but including currency fluctuations, revenue was up only 0.5%.

Get a FREE Digital Subscription!

Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy

Comparable earnings per share of 60 euro cents missed analysts' estimates of 61 cents, Jefferies analysts said, citing higher finance costs mainly due to lower interest returns on cash deposits.

Sales And Growth

Sales volume, or the amount of drinks sold, lifted sales by 4.6%, while the remaining 1.8 percentage points of sales growth was due to higher prices and a pricier mix of drinks sold.

Growth was mainly driven by emerging and developing markets.

The company said it continued to make "good progress" against its 2020 targets and expects to deliver "another year of revenue growth and improvement in margins".

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription
Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription