Raising full year guidance
HALF YEAR HIGHLIGHTS
• Volume of 970 million unit cases, 16% above 2006,
• Solid progress in operating profit (EBIT) to €331 million, 19% above prior year, on a comparable basis,
• Net profit of €222 million, 16% above prior year, on a comparable basis, • EPS of €0.92, 15% above prior year, on a comparable basis.
SECOND QUARTER HIGHLIGHTS
• Volume of 568 million unit cases, 14% above 2006,
• Strong operating profit (EBIT) momentum to €271 million, 21% above prior year, on a comparable basis,
• Net profit of €196 million, 14% above prior year, on a comparable basis,
• EPS of €0.81, 14% above prior year, on a comparable basis.
Note: Comparable financial indicators (previously referred to as ‘underlying’) exclude in 2007 the recognition of pre-acquisition tax losses and the results of Eurmatik which was acquired during the year and, in 2006, the recognition of pre-acquisition tax losses, significant restructuring costs and non-recurring items.
Doros Constantinou, Managing Director of Coca‑Cola HBC, commented:
“We are pleased to report another strong quarter of robust volume growth and operating margin expansion, despite higher raw material costs and additional investment in our sales capabilities in the established markets. Based on the strong momentum we have seen in the first half of the year, we are confident in our prospects for the balance of the year and accordingly, are raising our full year guidance.
The second quarter also marked improved and sustainable margin expansion in the developing markets, continued strong profitability in Bulgaria and Romania post EU accession as well as further investments in Russian production capacity to further extend our market leadership in this high growth market.”
9 August 2007
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