Coca‑Cola HBC AG, a leading bottler of The Coca‑Cola Company, reports its financial results for the six-month period ended 1 July 2016.

Half-year highlights

  • FX-neutral net sales revenue grew by 2.4%, or 3.0% taking into account the one less selling day; currencies continue to impact adversely, leading to a 3.4% decline in net sales revenue
  • Robust increase in FX-neutral revenue per case of 2.4%, mainly due to better pricing trends across all segments compared to the prior-year period and a 110 basis point improvement in package mix
  • Volume increased marginally on a strong prior-year period; taking into account the one less selling day in Q1, volume grew by 0.7%
    • Volume in the Established markets declined by 2.8%, partly impacted by unseasonably cool weather
    • The Developing segment continued to demonstrate good volume growth momentum with all key categories contributing to the 3.5% volume growth
    • Nigeria, Romania and Serbia were key drivers of the 0.5% volume growth in the Emerging markets segment, which continued to be negatively impacted by Russia
  • Cost efficiencies and revenue leverage resulted in a 45 basis point reduction in comparable operating expenses as percentage of net sales revenue
  • Comparable EBIT margin increased by 60 basis points to 7.5%, benefiting from our revenue growth management initiatives, favourable input costs and cost efficiencies, which more than offset the adverse currency impact; EBIT margin improved by 90 basis points to 7.2% on a reported basis
  • Comparable earnings per share was €0.416 – a 6.9% increase on the prior-year period; basic earnings per share was €0.387 - a 12.5% increase on the prior-year period
  Half-year Change
  2016 2015  
Volume (m unit cases) 1,007.3 1,006.6 0.1%
Net Sales Revenue (€ m) 3,043.9 3,150.9 -3.4%
Net Sales Revenue per Unit Case (€) 3.02 3.13 -3.5%
FX-neutral net sales revenue1 (€)
3,043.9 2,972.5 2.4%
FX-neutral net sales revenue1 per unit case (€) 3.02 2.95 2.4%
Operating profit EBIT1 (€ m) 220.6 199.1 10.8%
Comparable EBIT margin1 (€ m) 229.6 219.0 4.8%
EBIT margin (%) 7.2 6.3 90bps
Comparable EBIT margin1 (%) 7.5 7.0 60bps
Net profit2 (€ m) 140.0 125.2 11.8%
Comparable Net Profit1,2 (€ m) 150.4 141.7 6.1%
Basic earnings per share (EPS) (€) 0.387 0.344 12.5%
Comparable EPS1 (€) 0.416 0.389 6.9%

1For details on APMs refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.
2Net Profit and comparable net profit refer to net profit and comparable net profit respectively after tax attributable to owners of the parent.

Dimitris Lois, CEO Coca-Cola HBC
We are pleased with the strong performance in the first half of the year. The business delivered robust revenue growth and significant margin expansion, driven by improved pricing and mix trends, good progress on operating costs and a favourable input cost environment. We remain confident that 2016 will be another year of currency-neutral revenue and operating margin growth. Dimitris Lois, Chief Executive Officer of Coca‑Cola HBC AG

Coca‑Cola HBC Group

Coca‑Cola HBC is a leading bottler of The Coca‑Cola Company with a sales volume of more than 2 billion unit cases. It has a broad geographic footprint with operations in 28 countries serving a population of approximately 594 million people. Coca‑Cola HBC offers a diverse range of non-alcoholic ready to drink beverages in the sparkling, juice, water, sport, energy, tea and coffee categories. Coca‑Cola HBC is committed to promoting sustainable development in order to create value for its business and for society. This includes providing products that meet the beverage needs of consumers, fostering an open and inclusive work environment, conducting its business in ways that protect and preserve the environment and contribute to the socio-economic development of the local communities. Coca‑Cola HBC is ranked beverage industry leader in the Dow Jones Sustainability World and Europe Indices, and is also included in the FTSE4Good Index.

 Coca‑Cola HBC has a premium listing on the London Stock Exchange (LSE: CCH) and its shares are listed on the Athens Exchange (ATHEX: EEE). For more information, please visit


Financial information in this announcement is presented on the basis of International Financial Reporting Standards (‘IFRS’).


Conference call

Coca‑Cola HBC will host a conference call for financial analysts and investors to discuss the 2016 half-year financial results on 11 August 2016 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 HBC’s website (


Coca‑Cola HBC Group  
Basak Kotler
Investor Relations Director
Tel: +44 203 744 4231
Nikos Efstathopoulos
Investor Relations Manager
Tel: +30 210 618 3260
Caroline Crampton
Investor Relations Manager

Tel: +44 203 744 4230

International media contact:  


Robert Morgan
Anushka Mathew

Tel: +44 207 240 2486

Greek media contact:  
V+O Communications
Argyro Oikonomou
Tel: +30 211 7501219