Coca-Cola HBC Q3 Net Sales Revenue Up 26.9%; Upgrades 2022 Comparable EBIT Guidance

Coca-Cola HBC AG (CCH), a Consumer Packaged Goods business and bottling partner of Coca-Cola Co. (KO), reported that its third quarter net sales revenue rose 26.9%. Egypt added 13.4 percentage points to reported volume growth and 8.1 percentage points to reported revenue growth in the latest quarter.

Group organic revenue was up 7.4% in the third quarter. Group organic volumes fell 6.6%, with double-digit growth in Established and Developing offset by the cessation of sales of The Coca-Cola Company brands in Russia, while Group organic revenue per case grew by 15.0%.

Quarterly organic revenue, excluding Russia and Ukraine, was up 19.6%.

Organic volumes, excluding Russia and Ukraine, grew 5.7%, benefitting from momentum in priority categories, with Sparkling +6.2%; Energy +30%; and Coffee +51%

Quarterly organic revenue per case, excluding Russia and Ukraine, increased 13.2% due to conscious focus on driving value, with pricing and targeted actions to drive mix as critical tools to manage cost inflation. The company also benefitted from very good performance in the out-of-home channel and strong progress on single-serve mix.

In 2022 the company now expects to generate double-digit organic revenue growth at a Group level.

The company upgraded its 2022 comparable EBIT guidance to a range of 860 million euros - 900 million euros. It includes the full consolidation of Multon starting on 11 August 2022.

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