Half Year 2010 Highlights

  • Free cash flow of €251 million for the first half of 2010, an increase of €129 million compared to the prior year period.
  • Volume of 1,009 million unit cases, 2% below the first half of 2009. Net sales revenue of €3,300 million, 1% above the prior year period.
  • On a comparable basis, operating profit (EBIT) of €320 million, 3% above the prior year period.
  • On a comparable basis, net profit of €201 million, stable compared to the prior year period, and earnings per share of €0.55, stable compared to the prior year period. The first half of 2010 includes a tax charge of €21 million (€0.06 per share) related to the ‘Extraordinary Social Contribution Tax’ in Greece.

Second Quarter 2010 Highlights

  • Free cash flow of €186 million for the second quarter of 2010, an increase of €73 million compared to the prior year period.
  • Volume of 578 million unit cases, 2% below the second quarter of 2009. Net sales revenue of€1,923 million, 2% above the prior year period.
  • On a comparable basis, operating profit (EBIT) of €264 million, 2% below the prior year period.
  • On a comparable basis, net profit of €172 million, 11% below the prior year period, and earnings per share of €0.47, 11% below the prior year period. The second quarter of 2010 includes a tax charge of €21 million (€0.06 per share) related to the ‘Extraordinary Social Contribution Tax’ in Greece.

Note: For the definition of comparable basis and EBIT refer to ‘Reconciliation of Reported to Comparable Financial Indicators’ below.

Doros Constantinou, Chief Executive Officer of Coca‑Cola Hellenic, commented:

“The broad geographic spread of our business enabled us to deliver a robust operating performance in the first half of the year, with the effects of increasingly challenging conditions in specific key countries being offset by improving trading performances in other markets, particularly in Eastern Europe.

Our ability to compete effectively through our strong market place execution and planned marketing programmes has enabled us to gain volume share in many of our key markets. In addition, we continue to focus successfully on identifying further efficiency improvements and cost savings which are expected to support future profitability.

Our Group-wide focus on strong cash flow generation continues to yield results, while we are increasing our investment in marketing in countries where signs of recovery are more evident. Whilst remaining vigilant in the highly challenging Balkan markets, we remain on target to deliver our three-year cash flow guidance.”

Contact Information

Company contact:
Coca‑Cola Hellenic
 
George Toulantas Tel:
Investor Relations Director email: george.toulantas@cchellenic.com
   
Panagiotis Vergis Tel:
Investor Relations Associate email : panagiotis.vergis@cchellenic.com
   
European press contact: Tel:
Financial Dynamics London email: greg.quine@fd.com
Greg Quine