Adria
Croatia, Bosnia & Herzegovina and Slovenia.
At-work; At-home; Out-of-home channels
Relates to channel segmentation according to consumption occasion and packaging size.
B2B
Business-to-business.
Baltics
Estonia, Latvia and Lithuania.
Bottler; Bottling partner
Business entity that sells, manufactures and distributes beverages of The Coca-Cola Company under a franchise agreement.
Bottling plant
A beverage production facility, including associated warehouses, workshops, and other on-site buildings and installations.
Bps
Basis points: one hundredth of one percentage point (used chiefly in expressing differences).
Business Developer
Sales person, sales force.
CAGR
Compound annual growth rate.
Capex
Gross Capex is defined as payments for purchases of property, plant and equipment. Net Capex is defined as payments for purchases of property, plant and equipment less proceeds from sales of property, plant and equipment plus principal repayments of lease obligations. Refer also to the ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
CDE
Cold drink equipment – a generic term encompassing point-of-sale equipment such as coolers (refrigerators), vending machines and post-mix machines.
CDP
Formerly Carbon Disclosure Project, CDP is a not-for-profit charity that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts (climate, water, forests).
CHP
Combined heat and power units can produce power, heat and cooling in a combined process that is up to 40% more efficient than separate processes.
CO2
Carbon dioxide, a greenhouse gas.
CO2e
A carbon dioxide equivalent or CO2 equivalent, abbreviated as CO2e, is a metric measure used to compare the emissions from various greenhouse gases (GHG) on the basis of their global-warming potential (GWP), by converting amounts of other gases to the equivalent amount of carbon dioxide with the same global warming.
Coca-Cola HBC; CCHBC; CCH
Coca-Cola HBC AG, and, as the context may require, its subsidiaries and joint ventures; also, the Group, the Company.
Coca-Cola System
The Coca-Cola Company and its bottling partners are collectively known as the Coca-Cola System.
COGS
Cost of goods sold.
Comparable adjusted EBITDA
We define comparable adjusted EBITDA as operating profit before deductions for depreciation and net impairment of property, plant and equipment (included both in cost of goods sold and operating expenses), amortisation and net impairment of intangible assets, net impairment of equity method investments, employee share option and performance shares compensation and other non-cash items, if any; further adjusted for restructuring costs, acquisition, integration and divestment-related costs or gains, the impact from the Russia-Ukraine conflict and the mark-to-market valuation of commodity hedging activity. Refer also to the ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
Comparable EBIT
Comparable operating profit (EBIT) refers to profit before tax excluding finance income/(costs) and share of results of non-integral equity-method investments, adjusted for restructuring costs, acquisition, integration and divestment-related costs or gains, net impairment of goodwill and indefinite-lived intangible assets, the impact from Russia-Ukraine conflict and the mark-to market valuation of certain commodity hedging activity. Refer also to ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
Comparable net profit
Net profit after tax attributable to owners of the parent adjusted for post-tax restructuring costs, acquisition, integration and divestment-related costs or gains, net impairment of goodwill and indefinite-lived intangible assets, the impact from Russia-Ukraine conflict, the mark-to-market valuation of commodity hedging activity and certain other tax items. Refer also to ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
Comparable operating expenditure
Comparable operating expenditure refers to operating expenditure adjusted for restructuring costs, acquisition, integration and divestment related costs or gains, impairment of goodwill and indefinite-lived intangible assets, the impact from Russia-Ukraine conflict and the mark-to-market valuation of certain commodity hedging activity. Refer also to the ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
Concentrate
Concentrated flavour purchased from our brand partners to which water and other ingredients are added to produce beverages.
Consumer
Person who may drink Coca-Cola HBC products.
CSRD
Corporate Sustainability Reporting Directive – an EU Directive that amends the scope and the reporting requirements of the Non-Financial Reporting Directive (NFRD) and introduces mandatory sustainability reporting standards; requires all large companies to publish regular reports on their environmental and social impact activities.
Customer
Retail outlet, restaurant or other operation that sells or serves Coca-Cola HBC products directly to consumers.
DIA
Data, insights & AI.
Dividend policy
Our Board of Directors approved an updated dividend policy, effective from 2022, aiming to increase dividend payments progressively, with a medium-term target payout ratio of 40% to 50% on comparable net profits.
DJSI
Dow Jones Best-in-Class Indices (formerly Dow Jones Sustainability Indices or DJSI).
ELT
Executive Leadership Team – CCHBC executive team, including the CEO and his direct reports.
Energy Use Ratio
The KPI used by Coca-Cola HBC to measure energy consumption in the bottling plants, expressed in megajoules of energy consumed per litre of produced beverage (MJ/lpb).
ESRS
European Sustainability Reporting Standards – provides a framework for companies subject to the CSRD to report on environmental, social and governance (ESG) topics. FMCG Fast-moving consumer goods.
FTE
Fulltime equivalent, referring to a unit to measure employed people in a way that makes them comparable, even though they may work different hours each week.
GHG (scope 1, 2 and 3)
Greenhouse gases. GHG inventory covers the seven direct greenhouse gases under the Kyoto Protocol: Carbon dioxide (CO2), Methane (CH4), Nitrous oxide (N2O), Hydrofluorocarbons (HFCs), Perfluorocarbons (PFCs), Sulphur hexafluoride (SF6), Nitrogen trifluoride (NF3). Scopes refer to the GHG Protocol categorisations: scope 1: direct GHG emissions occur from sources owned or controlled by the company; scope 2: indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling; and scope 3: in direct emissions up and down the value chain (raw materials, packaging materials, product cooling, etc.).
GRI
Global Reporting Initiative, global standards for sustainability reporting.
HoReCa
Hotels, Restaurants and Cafés – a key distribution channel within the Out-of-home channel.
IASB
International Accounting Standards Board.
IFRS
International Financial Reporting Standards, issued by the International Accounting Standards Board.
IIRC
The International Integrated Reporting Council, a global coalition of regulators, investors, companies, standard-setters, the accounting profession and NGOs. The coalition is promoting communication about value creation as the next step in the evolution of corporate reporting.
IMCR
Incident Management and Crisis Resolution.
Ireland or Island of Ireland
The Republic of Ireland and Northern Ireland.
KeelClip™
Paper packaging for multi-pack cans with a central ‘keel’, that secures the pack.
KPI
Key Performance Indicator.
Litre of produced beverage (lpb)
Unit of reference to show environmental performance relative to production volume.
LTAR
Lost Time Accident Rate.
LTIFR
Lost Time Incident Frequency Rate.
Market
When used in reference to geographic areas, a country in which Coca-Cola HBC does business.
Mission 2025
2025 sustainability commitments with 18 goals. Developed in late 2017 and endorsed in 2018, the goals are based on our stakeholder materiality matrix and aligned with the United Nations Sustainable Development Goals (SDGs) and their targets.
The six key focus areas reflect our value chain: reducing emissions; water reduction and stewardship; packaging; ingredient sourcing; nutrition; and our people and communities.
MSCI
MSCI ESG Ratings aim to measure a company’s management of financially relevant ESG risks and opportunities.
Multon Partners
Our operation in Russia since 5 August 2022.
NARTD
Non-alcoholic ready-to-drink.
NED
Non-Executive Director.
NetZeroby40
Our commitment to achieve net zero emissions across our entire value chain (scope 1, 2 and 3) by 2040. The commitment was published in October 2021 and received a formal approval by the Science Based Target initiative (SBTi) in late December 2024.
NGO
Non-governmental organisation.
NZTP; Net Zero Transition Plan:
Our plan to reduce our absolute GHG emissions across the entire value chain (scope 1, 2 and 3) in line with the 1.5 degree scenario.
Per capita consumption
Average number of servings consumed per person per year in a specific market. Coca-Cola HBC’s per capita consumption is calculated by multiplying our unit case volume by 24 and dividing by the population.
PET
Polyethylene terephthalate, a form of polyester used in the manufacturing of beverage bottles.
ROIC
Return on invested capital. ROIC is the percentage return that a company makes over its invested capital. We define ROIC as the percentage of comparable net profit excluding net finance costs divided by the five-quarter average capital employed. Capital employed is calculated as the five-quarter average net debt and shareholders’ equity attributable to the owners of the parent. Refer also to the ‘Alternative performance measures’ section on pages 352 to 358 of the Integrated Annual Report.
rPET
rPET refers to any PET material that comes from a recycled source rather than the original, unprocessed petrochemical feedstock.
RTD; ARTD; NARTD
Ready-to-drink; alcoholic; non-alcoholic .Drinks that are pre-mixed and packaged, ready to be consumed immediately with no further preparation.
SAP
A powerful software platform that enables us to standardise key business processes and systems.
SBTi
The Science Based Targets initiative is a corporate climate action organization developing standards, tools and guidance which allow companies to set greenhouse gas (GHG) emissions reductions targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050 at latest. Partner organizations who facilitated SBTi’s growth and development are CDP, the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
SBTN
The Science Based Targets Network is a collaboration of leading global non-profits and mission-driven organizations working together to equip companies as well as cities with the guidance to set science based targets for all of Earth’s systems.
SDG
UN Sustainable Development Goals. On 25 September 2015, countries adopted a set of 17 goals to end poverty, protect the planet and ensure prosperity for all parts of a new sustainable development agenda. Each goal has specific targets to be achieved by 2030.
Senior leaders; senior management
Our top 300 business leaders, which includes country function heads, Group sub-function heads and the Executive Leadership Team (ELT), including the CEO.
Serving
237ml or 8oz of beverage, equivalent to1/24 of a unit case.
Socio-economic impact
In conducting socio-economic studies, we use input-output modelling to generate estimates of jobs supported and economic value added across the value chain. Data we use in this process includes our financial information (revenues, expenses, taxes, sales volume and profits) as well as some data from the Coca-Cola System. While rigorous, the process involves statistical modelling, which should be considered when interpreting and using the results from the studies.
Modelling enables an assessment of three key dimensions of impact:
- Direct: immediate effect in terms of employment, wages and output.
- Indirect: subsequent effect in the supply chain.
- Induced: effect caused by staff spend on goods or service.
We do not conduct socio-economic studies for all of our markets every year; studies are conducted for each market on a rolling basis. In 2025, we updated the studies for 9 markets, adding this information to the aggregate results from all socio-economic impact studies for the period 2018-2025.
Notes to the socio-economic contributions presented on page 11 of the 2025 annual report:
- Numbers presented are aggregated based on the local socio-economic. studies from Coca-Cola HBC markets published between 2018 and 2025
- All KPIs represent annual impact.
- Where applicable and relevant in local socioeconomic studies, the impact of other entities of the Coca-Cola System, supported across the value chain, is included.
- Most socio-economic studies are focused on in-country impacts, while a few include inter-regional spending.
S&P Global Corporate Sustainability Assessment (CSA)
An annual, industry-specific evaluation of company sustainability practices containing three dimensions (Environmental, Social, and Governance), covering over 12,000 firms globally. It measures performance on financially material criteria to produce scores (0-100), forming the basis for the Dow Jones Best-in-Class Indices (former Dow Jones Sustainability Indices (DJSI) and S&P ESG Indices.
Sparkling soft drinks (SSD)
Non-alcoholic carbonated beverages containing flavourings and sweeteners, but excluding, among others, waters and flavoured waters, juices and juice drinks, sports drinks, ready-to-drink teas and coffee.
Includes Trademark Coca-Cola, Fanta, Sprite, Schweppes and Kinley sparkling beverages, among others.
Still and water beverages
Non-alcoholic beverages including, but not limited to, waters and flavoured waters, juices and juice drinks, sports drinks and ready-to-drink teas.
TCCC
The Coca-Cola Company and, as the context may require, its subsidiaries.
TCFD
Task Force on Climate-related Financial Disclosures.
Tier 1 suppliers
Suppliers that directly supply goods, materials or services to Coca-Cola HBC.
Tier 2 and Tier 3 suppliers
Suppliers that provide their products and services through Tier 1 suppliers. They are located beyond Tier 1 suppliers, e.g. on Tier 2, 3, or n-level of a company’s supply chain.
TNFD
Task Force on Nature-related Financial Disclosures: a market-led and science-based initiative supported by national governments, businesses and financial institutions worldwide which developed set of disclosure recommendations and guidance that encourage and enable business and finance to assess, report and act on their nature-related dependencies, impacts, risks and opportunities.
u.c.; Unit case
One unit case corresponds to approximately 5.678 litres or 24 servings, being a typically used measure of volume. For Premium Spirits volume, one unit case also corresponds to 5.678 litres. For snacks volume, one unit case corresponds to 1 kilogram. For coffee, one unit case corresponds to 0.5 kilograms or 5.678 litres. Volume data is derived from unaudited operational data.
UNESDA
Union of European Soft Drinks Associations.
UNGC, UK GC
The UN Global Compact: the world’s largest corporate sustainability initiative which provides a framework for businesses to align strategies with its 10 principles promoting labour rights, human rights, environmental protection and anti-corruption.
Volume
Amount of physical product produced and sold, measured in unit cases.
Value share
Percentage of total consumer spend captured by the brand or category in question, within a defined category or industry.
Waste ratio
The KPI used by CCHBC to measure waste generation in its bottling plants, expressed in grammes of waste generated per litre of produced beverage (g/lpb).
Waste recycling
The KPI used by CCHBC to measure the percentage of production waste at bottling plants that is recycled or recovered.
Water footprint
A measure of the impact of water use, in operations and beyond (upstream), as defined by the Water Footprint Network methodology. Includes blue, green and grey water footprint.
Water use ratio
The KPI used by Coca-Cola HBC to measure water use in its bottling plants, expressed in litres of water used per litre of produced beverage (l/lpb).
Working capital
Operating current assets minus operating current liabilities excluding financing and investment activities.
#YouthEmpowered (#YE)
Flagship programme from our Mission 2025 sustainability commitments, which aims to support young people and increase their employability by providing modular education of soft and/or business skills. It is delivered via classroom sessions, virtual training, self e-learning modules, mentoring sessions and other channels handled locally by our markets.
Zeros
Portfolio of products which contains zero calories.