HIGHLIGHTS FOR THE FULL YEAR • Volume (excluding acquisitions) of 1,542 million unit cases, 9% above prior year (including acquisitions: 1,578 million unit cases, 12% above 2004),

• Strong progress in underlying operating profit (EBIT) to €481 million, 11% above prior year (15% above 2004 including acquisitions),

• Underlying net profit of €304 million (reported: €308 million), 20% above prior year,

• Underlying EPS of €1.28 (reported: €1.29), 20% above prior year (including acquisitions €1.34 or 26% above prior year),

• Fifth year of strong growth in return on invested capital (ROIC) now reaching 9.4%, exceeding for the first time our weighted average cost of capital (WACC) of approximately 9.0%.

HIGHLIGHTS FOR THE FOURTH QUARTER

• Volume (excluding acquisitions) of 353 million unit cases, 8% above 2004 (including acquisitions: 367 million unit cases, 12% above 2004),

• Strong progress in underlying operating profit (EBIT) to €42 million, 26% above prior year (47% above 2004 including acquisitions),

• Underlying net profit of €6 million (reported: €8 million), versus a €1 million loss during prior year,

• Underlying EPS of €0.02 (reported: €0.03), including acquisitions the underlying EPS amounted to €0.05.

Doros Constantinou, Managing Director of Coca‑Cola HBC, commented:

‘We are very pleased to report another year of strong performance, the fifth consecutive year since Coca‑Cola HBC was formed. In 2005, we took a number of initiatives that were the drivers behind this growth with a key focus on marketplace execution, expansion of our product offerings and an on-going emphasis on supply chain improvements, mitigating the negative effect of significantly higher raw material costs. At the same time in line with our strategy on non-CSD expansion, we completed the acquisition of Multon juice in Russia, Vlasinka water in Serbia & Montenegro and Bankya water in Bulgaria together with The Coca‑Cola Company. 2005 has been a landmark year for CCHBC as our ROIC performance has continued to improve strongly and exceeded our weighted average cost of capital, (9%) this year, a year ahead of our original target. This achievement is by no means our final destination and shareholder value creation will continue to be a key area of focus in the future.

The successful execution of our strategy continues to provide a robust platform for growth. We believe that we have the passion and expertise to continue to leverage the potential of our unique country portfolio and expect our ongoing initiatives to deliver yet another year of solid performance’.

                                                                                                                                                                                                                                                                                                                                       15 February 2006

 

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