2025 Integrated Annual Report

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Integrated Annual Report 2025

Building for the
next chapter of growth

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Welcome to our 2025 Integrated Annual Report

Here, we share progress on the year in which we delivered strong financial results, continued to execute our strategy, made significant progress against our Mission 2025 sustainability targets and announced the milestone acquisition of Coca-Cola Beverages Africa (CCBA).



Hear from our Leadership

ANASTASSIS G. DAVID

CHAIRMAN OF THE BOARD

Our growth strategy continues to deliver, underpinned by our strong culture and commitment to delivering results sustainably. Despite ongoing uncertainties, I am confident that we have the right foundations to build on as we enter the next chapter of our growth story.

ZORAN BOGDANOVIC

CHIEF EXECUTIVE OFFICER

We delivered another year of strong growth in 2025 – driving revenues, strengthening margins and maintaining robust cash generation. In 2026, we will continue to build on this momentum as we prepare for the next chapter of our growth story.

NAYA KALOGERAKI

CHIEF OPERATING OFFICEr

We play to win by staying disciplined, building world-class capabilities and putting customers at the heart of everything we do – powered by our 24/7 portfolio and an exceptional team.

ANASTASIS STAMOULIS

CHIEF FINANCIAL OFFICER

In 2025, we delivered strong results through disciplined execution and strategic investment into the business and our capabilities. Record profitability, resilient cash generation and a robust balance sheet underscore our confidence in long‑term value creation.



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Acquisition of Coca-Cola Beverages Africa

A strong combination for value creation with a compelling strategic rationale. The acquisition of CCBA* materially expands our existing African presence, bringing together two leading bottlers in the continent and will create the second-largest Coca-Cola bottling partner globally by volume, with leading positions across 43 markets in Africa and Europe.

 


*expected to complete by the end of 2026, subject to regulatory approvals


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Mission 2025 and 
Mission Refresh

Sustainability remains at the core of our strategy. It enables growth while creating value for the communities we serve, our partners and the environment. Our renewed sustainability commitments will continue to concentrate on the areas most material to our business and stakeholders: climate, water, biodiversity, and communities. We will maintain a focus on packaging, agriculture and nutrition.


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