- Full-year sales up 6% to EUR6.5bn (US$8bn)
- Reported sales in 12 months of 2017 climb 5%
- Group volumes increase 2% to 2.1bn cases
- Reported net profits jump 24% to EUR426m
- Comparable EBIT margin expands 120bps to 9.5%
Headwinds in Nigeria and Russia softened solid growth for Coca-Cola HBC last year, but turnarounds in both markets are expected to spur 2018.
In full-year 2017 results, released today, organic sales for the Coca-Cola bottler jumped 6% as volumes grew by 2%. The company also delivered good EBIT margin expansion in the 12 months, up 1.2 percentage points, even as it increased marketing spend.
Net profits jumped 24% on a reported basis.
There were volume declines in Russia and Nigeria as the markets continued to suffer macroeconomic challenges, including a depreciation of the Nigerian Naira that saw CCHBC raise prices in the country three times in the year. However, CCHBC said 2018 would perform better for both markets as they return to volume growth and Nigeria’s economy stabilises. Russia, which posted Q4 volumes growth, is preparing to host the FIFA World Cup this Summer, with CCHBC planning a number of activations.
Commenting on his first set of results as CCHBC chief executive, Zoran Bogdanovic said: “I am fortunate to have taken over a business performing well and with a clear strategic direction. 2017 was an exceptional year for us, and we are delighted to have delivered strong growth in volume, revenue and margin, overall demonstrating significant progress towards our 2020 objectives.”
Bogdanovic, who was appointed CEO in December following the death of Dimitris Lois, continued that he is confident that “2018 will be another successful year”.
To read CCHBC’s official results release, click here.