Latest financial update

Third quarter 2016 trading update - solid quarter confirms full year expectations

Third quarter highlights

  • Volume trends developed as expected in the quarter with a 1.0% decline against very tough comparatives in the prior-year quarter when volumes were boosted by incremental demand for Water; volume declined by 0.3% in the first nine months
    • Established market volumes continued the trend seen in the first half of the year on much tougher comparatives in the quarter; the 2.5% volume decline was driven by Water in Italy and Austria
    • Developing market volumes declined in the quarter by 4.2%, cycling 10.4% growth in the prior-year quarter
    • Volume growth in the Emerging markets was 1.3% - an improvement on the first-half trend, owing to continued growth in Nigeria and Romania and a deceleration in volume decline in Russia
  • Our focus on revenue growth management delivered a 3.8% improvement in revenue per case on an FX-neutral basis, with better category and package mix in all segments
    • Promotional pressures and adverse channel mix impacted FX-neutral revenue per case performance in the Established markets, down 0.3%
    • Effective management of promotions and reduced deflationary pressure drove FX-neutral revenue per case in the Developing markets segment, up 3.5%, reversing the negative trend in the first half of the year
    • Price increases taken in Emerging markets drove the 8.1% FX-neutral revenue per case growth, accelerating our progress compared to the first half of the year


Q3 2016 vs. Q3 2015 growth Volume (%) Net sales revenue (%) Net sales revenue per unit case (%) FX-neutral net sales revenue per unit case1 (%)
Total Group -1.0 -1.9 -0.7 3.8
Established markets -2.5 -3.6 -1.0 0.3
Developing markets -4.2 -2.3 2.0 3.5
Emerging markets 1.3 -0.1 -1.5 8.1

1 For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.

Dimitris Lois, CEO Coca-Cola HBC
Performance in the third quarter was as expected, with lower volume reflecting the exceptional growth we saw in the third quarter of 2015. We are pleased with our commercial initiatives, which delivered an improvement in currency-neutral net sales revenue per case. The business is trading well and we remain confident in meeting our expectations for the full year. Dimitris Lois, Chief Executive Officer of Coca‑Cola HBC AG