Latest financial update


Coca‑Cola HBC AG, a leading bottler of the brands of The Coca‑Cola Company, today announces its 2017 Q3 trading update.

Third quarter highlights

  • Excellent revenue performance, with FX-neutral revenue growth of 6.0%
  • Strong quarter for volume growth, up 3.4%, with good broad-based improvements from all three segments
    - Established markets segment volume increased by 2.2% driven by our Southern European countries and supported by good weather
    - Developing markets segment volume increased by 5.1%, with particularly strong growth in Hungary and the Czech Republic and stabilisation in Poland
    - Emerging markets segment volume increased by 3.5%, with strong growth in Romania, Serbia and Ukraine. Volumes were stable in Russia, while Nigeria declined following significant price increases
  • FX-neutral revenue per case growth of 2.5% in the quarter, with continuing progress in all three segments
    - Established markets FX-neutral revenue per case grew by 1.1%, supported by our continued focus on growing revenue faster than volume and the emergence of a more inflationary environment
    - In the Developing markets, FX-neutral revenue per case grew by 2.1%, with a moderation from the first half price/mix trends as expected
    - Emerging markets FX-neutral revenue per case grew by 4.2%, driven by price increases taken earlier in the year and improvements in category and package mix


Q3 2017 vs. Q3 2016 Net sales revenue Volume Net sales revenue per unit case 
growth (%) FX-neutral1 Reported   FX-neutral1 Reported
Total Group 6.0 5.0 3.4 2.5 1.5
Established markets 3.3 2.5 2.2 1.1 0.2
Developing markets 7.3 9.1 5.1 2.1 3.8
Emerging markets 7.9 5.6 3.5 4.2 2.0

1For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ section.

We are very pleased with the strong revenue delivery in the quarter, well balanced between broad-based volume growth and substantial price/mix improvement. We go into the final quarter encouraged by our progress and confident in delivering on our expectations for the full year. Michalis Imellos, Acting Chief Executive Officer and Group Chief Financial Officer of Coca‑Cola HBC