Solid results amidst uncertain global economic conditions
- Volume of 429 million unit cases, 7% above 2007. Net revenue rose to €1,373 million, 9% above 2007
- Strong operating profit (EBIT) momentum to €67 million, 10% above prior year.
- Net profit of €28 million, 11% above prior year, and earnings per share of €0.08, 14% above prior year.
- Full year 2008 guidance remains unchanged: volume growth of approximately 7%, EBIT growth of 11-13% and EPS of €1.46-€1.49, an increase of 12-15%.
Doros Constantinou, Managing Director of Coca‑Cola Hellenic, commented:
‘I am pleased to report a solid start to the year with volume growth across all our market segments and product categories during the first quarter of 2008. Solid organic volume growth was supported by the launch of Coca-Coca Zero across a further 11 countries of operation and significant new product innovation across other beverage categories.
I am particularly encouraged by the continued business momentum in key markets and our ability to manage our diverse country and brand portfolio to deliver balanced growth. Realisation of planned price increases and growth in our profitable single-serve packages helped offset persisting raw material cost pressures and higher investments in sales and marketing costs to support our new product launches. While the first quarter is typically a small one for our business and the macroeconomic environment remains uncertain, the solid start to the year and confidence in our plans provides us comfort in achieving our full year guidance.’
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