Full Year 2009 Highlights
- Operating cash flow net of capital expenditure of €546 million for 2009, an increase of €284 million compared to 2008.
- Volume of 2,069 million unit cases, 2% below 2008 (excluding the results of Socib S.p.A., volume of 2,010 million unit cases, 5% below 2008). Net sales revenue of €6,544 million, 6% below 2008.
- On a comparable basis operating profit (EBIT) of €651 million, 1% below 2008.
- On a comparable basis, net profit of €437 million, 3% above 2008, and earnings per share of €1.20, 3% above 2008.
Fourth Quarter 2009 Highlights
- Volume of 452 million unit cases, 8% below the prior year period (on a like-for-like selling day basis and excluding the results of Socib S.p.A., volume of 423 million unit cases, 8% below the prior year period). Net sales revenue of €1,393 million, 12% below the prior year period.
- On a comparable basis, operating profit (EBIT) of €60 million, 1% above the prior year period.
- On a comparable basis, net profit of €26 million compared to €2 million in the prior year period, and earnings per share of €0.07 compared to nil in the prior year period.
Note: For the definition of comparable basis refer to ‘Reconciliation of Reported to Comparable financial indicators’ below.
Doros Constantinou, Chief Executive Officer of Coca‑Cola Hellenic, commented:
“In a year of significant external challenges, we have successfully adapted our business to near-term economic realities, whilst maintaining our long-term focus on market leadership. This enabled a strong cash flow performance, resulting in a return of capital to shareholders and a more efficient capital structure.
We remain cautious on near-term trading conditions as we continue to witness weak consumer sentiment, with purchasing power affected by the difficult economic environment. We will therefore continue our focus on identifying cost efficiencies, reducing working capital and further strengthening our market positions. This gives us confidence to drive continued strong cash flow generation. We therefore issue guidance of approximately €1.5 billion free cash flow to be generated over the three year period ending 2012. Concurrently, we will continue to manage our business for the long-term, focusing on identifying new growth opportunities.”
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