Third Quarter 2021 Trading Update

Focused strategy drives acceleration in growth and share gains

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its 2021 Q3 trading update.

Third quarter highlights

• Strong Q3 FX-neutral revenue growth of 17.1%. Sharp acceleration on a 2 year basis, closing 16.8% up on Q3 2019 or 8.9% ahead YTD, on a like-for-like basis¹
  • Targeted execution captured the summer season and we benefited from the reopening of the out-of-home channel; Emerging segment strength continued
  • 70bps of value share gained in non-alcoholic ready-to-drink (NARTD) YTD
• Volume growth of 13.1% was supported by priority categories in our 24/7 portfolio: Sparkling +13.1%; Low/no sugar sparkling +54.6%; Adult sparkling +27.5%; and Energy +29.4%
• Price/mix up 5.1% YTD and up 3.5% in Q3 on a tougher comparator; all three segments saw price/mix expansion gain pace versus 2019
• Rigorous COGS management and disciplined OPEX control
• On track to complete the acquisition of Coca-Cola Bottling Company of Egypt by Q1 2022
• Announced commitment to achieve net-zero emissions across the entire value chain by 2040

Segment highlights

Rebound in Established and Developing segments adding to continued strong results in Emerging

• Established: Sustained positive price/mix development and volume recovery propelled by good execution during the summer season, and out-of-home channel reopening
• Developing: Q3 segment volumes slightly ahead of 2019 despite Polish sugar tax
• Emerging: Strong momentum in Nigeria and Russia in the period despite higher comparators

¹ Year to date 2021 performance, unless stated otherwise, is negatively impacted by the change in classification of our Russian Juice business, Multon, from a joint operation to a joint venture, following its re-organisation in May 2020 as well as positively impacted by the acquisition of Bambi in June 2019 when compared to the 2019 performance.

² For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.