Strong momentum continues
HALF YEAR HIGHLIGHTS
· Volume excluding acquisitions of 745 million unit cases, 9% above 2004, (reported: 755 million unit cases, 11% above 2004),
· Steady progress in underlying operating profit (EBIT) to €242 million (reported: €229 million), 7% above prior year.
· Underlying net profit of €156 million (reported: €154 million), 15% above prior year, · Underlying EPS of €0.66 (reported: €0.65), 15% above prior year,
· Cash flow generated from operating activities less capital expenditure strengthened to €99 million versus €58 million for the comparable period in 2004.
SECOND QUARTER HIGHLIGHTS
· Volume excluding acquisitions of 434 million unit cases, 13% above 2004, (reported: 444 million unit cases, 16% above 2004),
· Steady progress in underlying operating profit (EBIT) to €194 million (reported: €186 million), 7% above prior year.
· Underlying net profit of €142 million (reported: €141 million), 15% above prior year,
· Underlying EPS of €0.60 (reported: €0.59), 15% above prior year,
Doros Constantinou, Managing Director of Coca‑Cola HBC, commented:
“Our performance during the second quarter was characterised by robust organic volume growth and the successful execution of our innovation plans. Core CSDs posted high single digit growth, and non-CSDs continued to grow by double digits across all categories. Despite higher raw material costs and limited pricing initiatives in some markets, supply chain efficiencies enabled us to sustain our margins at the same level as the first half of last year. The integration of our newly acquired businesses, including Multon in Russia, is progressing well and with the growth momentum of the first half continuing into July, we look to the rest of the year with continued confidence and accordingly update our 2005 guidance for our total business.”
16 August 2005
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