Coca‑Cola HBC AG (“Coca‑Cola HBC”, “Company”), a leading bottler of the brands of The Coca‑Cola Company, is hosting an investor event in London today, 6 June 2016, where management will present to investors and analysts on the Group’s medium-term strategy.
The Company reported its first quarter trading update on 13 May 2016. No new trading information will be provided at the investor day. We will be discussing our plans to promote volume and value growth, and further improvements to operational efficiency.
In 2015 we delivered the best performance in five years in terms of volume growth and margin progression. We believe this reflects the underlying strengths of our organisation, including the flexibility to respond to evolving consumer trends and a dynamic retail landscape.
Looking ahead, we expect an improving external environment to support growth in our markets over the period to 2020, including average annual non-alcoholic ready-to-drink industry volume growth of approximately 1.5% across our territory. This stronger backdrop, combined with the inherent growth opportunities in our portfolio, underpins our aspirations for an acceleration of performance going forward. Assuming this level of industry volume growth, our medium-term growth targets include:
- average annual revenue growth rate in the range 4-5% on a currency-neutral basis (2015: 2.9%);
- a reduction in comparable operating expenses as a percentage of net sales revenue to 26-27% (2015: 29.2%); and
- comparable EBIT1 margin improvement to 11% (2015: 7.5%).
We reiterate our capital expenditure target as 5.5-6.5% of net sales revenue and our commitment to maintaining a negative working capital balance sheet position.
1 Earnings before interest and tax
Over five years and in a difficult external environment, we have created a more efficient and stronger business that is now primed for growth in improving market conditions. We have a balanced spread of territories with structurally attractive characteristics and specific plans for growth. We have reflected these factors in our new targets, announced today, which illustrate our confidence in the medium-term potential of the business. Dimitris Lois, Chief Executive Officer of Coca‑Cola HBC AG
The presentations will be webcast live from 15:00 Swiss time onwards (14:00 London, 16:00 Athens and 9:00 New York time) on the company's website, www.coca-colahellenic.com/en/investors. The webcast should last about three hours and will also be available for replay after the event.
|Coca‑Cola HBC Group|
Investor Relations Director
|Tel: +41 41 726 0143
Investor Relations Manager
|Tel: +30 210 618 3260
Investor Relations Manager
|International media contact:|
Tel: +44 20 7240 2486
|Greek media contact:|
|Tel: +30 211 7501219