HIGHLIGHTS FOR THE NINE MONTHS
- Free cash flow of €643 million for the first nine months of 2010, an increase of €124 million compared to the prior year period.
- Volume of 1,620 million unit cases, stable compared to the prior year period. Net sales revenue of €5,299 million, 3% above the prior year period.
- On a comparable basis, operating profit (EBIT) of €621 million, 5% above the prior year period.
- On a comparable basis, net profit of €417 million, 1% above the prior year period, and earnings per share of €1.15, 2% above the prior year period. The first nine months of 2010 include a tax charge of €21 million (€0.06 per share) related to the ‘Extraordinary Social Contribution Tax’ in Greece.
THIRD QUARTER HIGHLIGHTS
- Free cash flow of €392 million for the third quarter of 2010, a decrease of €5 million compared to the prior year period.
- Volume of 611 million unit cases, 5% above the third quarter of 2009. Net sales revenue of
€1,999 million, 6% above the prior year period.
- On a comparable basis, operating profit (EBIT) of €300 million, 7% above the prior year period.
- On a comparable basis, net profit of €216 million, 3% above the prior year period, and earnings per share of €0.60, 3% above the prior year period.
Note: For the definition of comparable basis and EBIT refer to ‘Reconciliation of Reported to Comparable Financial Indicators’ below.
Doros Constantinou, Chief Executive Officer of Coca‑Cola Hellenic, commented:
"The positive financial results we have achieved in the quarter reflect successful implementation of our long-term strategic priorities and strength of our portfolio of markets. We are pleased to see signs of continued economic recovery in certain of our key markets, in particular within the Emerging market segment. In Russia, we continue to witness increased consumer confidence and spending, while we also benefited from an unprecedented heat wave in the quarter.
The improved Group volume and operating profit momentum in one of our key selling periods was supported by ongoing tight cost control, increased operating leverage and favourable currency movements.
As we enter our final quarter of the year, we continue to monitor the pace and extent of economic recovery across our markets. The adverse effect of government austerity measures on household disposable incomes continues to impede consumer spending, which is most evident in our Established market segment. However, our investment in the marketplace and advancement of our customer-centric vision will enable us to further strengthen our market positions and drive near-term cash flow."
|George Toulantas||Tel: +30 210 618 3255|
|Investor Relations Director||email: email@example.com|
|Panagiotis Vergis||Tel: +30 210 618 3124|
|Investor Relations Associate||email : firstname.lastname@example.org|
|European press contact:||Tel: +44 20 7269 7206|
|Financial Dynamics London||email: email@example.com|