Coca-Cola HBC AG (CCH), a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, reported that its full year 2022 comparable net profit grew by 8.1% from prior year, due to higher operating profitability. Net profit declined by 24.1%, largely due to the net impairment losses after tax, relating to the Group's operations in Russia, and acquisition and integration costs associated with the business combinations of Egypt and Multon.
Organic revenue increased by 14.2% driven by price and mix, while reported net sales revenue increased by 28.3%, driven by the acquisition of Egypt, consolidation of Multon as well as favourable currency impact. Full year organic volume fell by 1.5%, adversely impacted by declines in Russia and Ukraine. Excluding these markets, organic volume growth was up 8.1% for the period.
Full year 2022 comparable net profit was 624.9 million euros compared to 578.1 million euros, last year. Comparable EPS was 1.706 euros compared to 1.584 euros. Comparable EBIT was up 11.9% to 929.7 million euros.
Net profit was 415.4 million euros, a decline of 24.1% from previous year. Earnings per share was 1.13 euros compared to 1.49 euros. Net sales revenue was 9.20 billion euros compared to 7.17 billion euros.
In 2023, Coca-Cola HBC AG expects to generate organic revenue growth at a Group level above 5-6% average target range. The company expects organic EBIT change rate in between growth of 3% to a decline of 3% in 2023. The company does not expect significant restructuring initiatives to take place in 2023.
Zoran Bogdanovic, CEO of Coca-Cola HBC AG, said: "We are making tangible progress towards our Mission 2025 and NetZeroby40 goals, with key milestones including the opening of a new rPET facility in Italy and the issuance of our first green bond."
The Board will propose a 0.78 euros dividend per share in respect of 2022. If approved by the shareholders of Coca-Cola HBC AG, this dividend will be paid in 2023.
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