A solid start to the year
FIRST QUARTER HIGHLIGHTS
• Volume of 340 million unit cases, 9% above 2005,
• Steady progress in underlying operating profit (EBIT) to €54 million, 12% above prior year (reported: €31 million),
• Underlying net profit of €20 million, 39% above prior year (reported: €6 million),
• Underlying EPS of €0.08, 33% above prior year (reported: €0.02).
Note: Underlying financial indicators (Operating profit, EPS, etc.) exclude the recognition of pre-acquisition tax losses and restructuring costs as per page 3.
Doros Constantinou, Managing Director of Coca‑Cola HBC, commented:
‘I am pleased with our performance during the first three months of the year which reflects solid organic volume growth combined with favourable price mix. The quarter was also positively impacted by the contribution of our juice business in Russia, Multon, which we acquired during April 2005.
While the first quarter is typically a small one for our business, it was particularly encouraging to see volume improvement and pricing realisation in line with our expectations across most countries. Importantly, we continued to enhance our marketplace capabilities with the addition of new sales personnel and successfully rolling out our full beverage portfolio strategy. We are also pleased to have finalised the Fresh & Co acquisition in March and the purchase of 95% of Lanitis in April, both of which will provide excellent opportunities for CCHBC.’
16 May 2006
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