FIRST QUARTER HIGHLIGHTS

Note : Comparative amounts for the first quarter of 2012 have been adjusted where necessary to reflect the impact of newly adopted accounting
standards in 2012 as detailed in note 1 to the condensed consolidated interim financial statements.

 


  Q1
2013
Q1
2012
% Change
Volume (m unit cases) 426.7 427.0 -
Net Sales Revenue (€ m) 1,431.9 1,433.4 -
Net Sales Revenue per Unit Case (€) 3.36 3.36 -
Currency Neutral Net Sales Revenue per Unit Case (€) 3.38 3.36 1%
Comparable Cost of Goods Sold 949.2 940.2 1%
Comparable EBIT (€ m) (1.0) (1.1) 9%
Comparable Net Loss (€ m) (15.9) (19.1) 17%
Comparable EPS (€) (0.04) (0.05) 20%

Note : Comparative amounts for the first quarter of 2012 have been adjusted where necessary to reflect the impact of newly adopted accounting standards in 2012 as detailed in note 1 to the condensed consolidated interim financial statements.

  • Volume: In the first quarter of 2013 we maintained total volume in line with the prior year period. Volume increased by 7% in our emerging markets, fully offsetting 3% and 7% declines in our developing and established markets respectively.
  • Sales: Total net sales revenue was flat, while currency neutral net sales revenue per case increased by 1%, marking the seventh consecutive quarter of increase.
  • Comparable operating profit (EBIT): The benefits from our revenue growth initiatives as well as lower operating expenses offset higher input costs as well as the negative impact from currency fluctuations, resulting in marginally better operating performance versus the prior year quarter.
  • First Quarter 2013: We gained or maintained volume shares in sparkling beverages in the majority of our markets including Austria, Ireland, Greece, the Czech Republic, Russia, Romania, Ukraine and Bulgaria.
  • Free Cash Flow: In the first quarter we registered a cash outflow of €40 million, compared to an outflow of €32 million in the same prior year period.
  • Dividend : The Board of Directors of Coca‑Cola HBC AG decided to propose the distribution of a €0.34 dividend per share.

Dimitris Lois, Chief Executive Officer of Coca‑Cola HBC AG, commented:

"During the first quarter of the year, our emerging markets once again registered solid volume growth. At the same time, we continued to show resilience in our established and developing markets, despite persistently challenging trading conditions and the unseasonably cold weather experienced across most of Europe in March. Against this backdrop, volumes grew in all key product categories, with the exception of water and a marginal decline in juice. Further, we continued to focus on our top line with currency neutral net sales revenue per case increasing for the seventh consecutive quarter.

For the remainder of 2013, we anticipate that economic and trading conditions will remain challenging, particularly in our established markets. We expect to make further progress in driving operational performance and delivering on our strategic commitments: winning in the marketplace, improving our currency neutral net sales revenue per case and focusing on cost leadership through disciplined working capital management and tight operating expenses control.

Our admission to the premium listing segment of the London Stock Exchange was successfully completed on 29 April 2013, alongside our Athens and New York listings. We believe that our premium listing will enhance liquidity of our stock and increase our access to the international capital markets."

Enquiries

Coca‑Cola HBC AG  
Oya Gur
Investor Relations Director
Tel: +30 210 618 3255
email: oya.gur@cchellenic.com
   
Panagiotis Vergis
Investor Relations Manager
Tel: +30 210 618 3124
email: panagiotis.vergis@cchellenic.com
   
Eri Tziveli
Investor Relations Manager
Tel: +30 210 618 3133
email: eri.tziveli@cchellenic.com
   
Corporate brokers:  
   
Credit Suisse
George Maddison
Tristan Lovegrove
Tel: +44 20 7888 8888
email: george.maddison@credit-suisse.com
email: tristan.lovegrove@credit-suisse.com
   
J.P. Morgan Cazenove
Laurence Hollingworth
James Mitford
Tel: +44 20 7251 3801
email: laurence.hollingworth@jpmorgancazenove.com
email: james.mitford@jpmorgancazenove.com
   
International media contact:  
   
RLM Finsbury
Guy Lamming
Charles Chichester
Tel: +44 20 7251 3801
email: guy.lamming@rlmfinsbury.com
email: charles.chichester@rlmfinsbury.com
   
Greek media contact:  
   
V+O Communications
Mary Andreadi
Tel: +30 211 7501223
email: ma@vando.gr

Conference call

Coca‑Cola HBC will host a conference call with financial analysts to discuss the first quarter of 2013 financial results on 16 May 2013 at 10:00 am, Swiss time (9:00 am London, 11:00 am Athens, and 4:00 am New York time). Interested parties can access the live, audio webcast of the call through Coca‑Cola Hellenic’s website (www.coca-colahellenic.com/investorrelations/webcasts).

Enquiries  
Coca‑Cola HBC AG  
Oya Gur
Investor Relations Director
Tel: +30 210 618 3255
email: oya.gur@cchellenic.com
   
Panagiotis Vergis
Investor Relations Manager
Tel: +30 210 618 3124
email: panagiotis.vergis@cchellenic.com
   
Eri Tziveli
Investor Relations Manager
Tel: +30 210 618 3133
email: eri.tziveli@cchellenic.com
   
Corporate brokers:  
   
Credit Suisse
George Maddison
Tristan Lovegrove
Tel: +44 20 7888 8888
email: george.maddison@credit-suisse.com
email: tristan.lovegrove@credit-suisse.com
   
J.P. Morgan Cazenove
Laurence Hollingworth
James Mitford
Tel: +44 20 7251 3801
email: laurence.hollingworth@jpmorgancazenove.com
email: james.mitford@jpmorgancazenove.com
   
International media contact:  
   
RLM Finsbury
Guy Lamming
Charles Chichester
Tel: +44 20 7251 3801
email: guy.lamming@rlmfinsbury.com
email: charles.chichester@rlmfinsbury.com
   
Greek media contact:  
   
V+O Communications
Mary Andreadi
Tel: +30 211 7501223
email: ma@vando.gr