Third quarter 2022 Trading Update

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its Q3 2022 trading update.

Third quarter highlights

• Successful execution delivered strong performance, with organic revenue excluding Russia and Ukraine up 19.6% in Q3, continuing H1’s strong momentum
  • Organic volumes (ex Russia and Ukraine) grew 5.7%, benefitting from momentum in our priority categories, with Sparkling +6.2%; Energy +30%; and Coffee +51%
  • Organic revenue per case (ex Russia and Ukraine) increased 13.2% due to our conscious focus on driving value, with pricing and targeted actions to drive mix as critical tools to manage cost inflation. We also benefitted from very good performance in the out-of-home channel and strong progress on single-serve mix
  • Value share gains continued with Sparkling +190 bps and NARTD +130 bps YTD
• Group organic revenue up 7.4% in Q3
  • Group organic volumes fell 6.6%, with double-digit growth in Established and Developing offset by the cessation of sales of The Coca-Cola Company brands in Russia, while Group organic revenue per case grew by 15.0%
• Reported net sales revenue up 26.9% in Q3
  • Egypt integration making strong progress. Egypt added 13.4 percentage points to reported volume growth and 8.1 percentage points to reported revenue growth in Q3
  • Foreign currency benefitted reported revenue growth by 7.6 percentage points in the period

• Segmental highlights: Established and Developing show continued strong momentum, Emerging impacted by Russia and Ukraine
  • Established: Organic revenue increase by 19.3%, with continued good momentum across markets, benefitting from strong summer execution, particularly in the out-of-home channel
  • Developing: Organic revenue up 23.1% led by strong share gains across markets
  • Emerging: Organic revenue down 6.2%, impacted by Russia and Ukraine. Excluding these markets, organic revenue grew by 17.7%

¹Perfomance, unless otherwise stated, refers to organic growth measures. For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.

Contingencies update

On 3 November 2022, the Hellenic Competition Commission issued a ruling in a case initiated against our Greek subsidiary in 2016. The ruling holds our Greek subsidiary in breach of the competition rules related to the Greek immediate consumption market segment and imposes a fine of €10.3 million as well as a behavioural remedy in relation to beverage coolers. We disagree with the decision and our Greek subsidiary will challenge it before the competent courts.

Coca-Cola HBC Group

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Römerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 33,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.

Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.

Conference call

Coca-Cola HBC will host a conference call for financial analysts and investors to discuss the 2022 third quarter trading update on Tuesday 8 November 2022 at 9:00 am GMT. To join the call, in listen-only mode please join via webcast. If you anticipate asking a question, please click here to register and find dial-in details.

Enquiries

Coca‑Cola HBC Group