THIRD QUARTER 2024 TRADING UPDATE

Strong execution drives continued growth

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its Q3 2024 trading update.

 

Third quarter highlights

Another quarter of strong organic revenue growth1 , driven by focused execution through the summer

  • Organic revenue growth of 13.9%; year-to-date organic revenue growth of 13.7%
  • Organic volumes up 4.0%, with all segments contributing; growth led by our strategic priority categories, with Sparkling +3.9%, Energy +28.0% and Coffee +35.6%
  • Organic revenue per case up 9.5%, driven by targeted revenue growth management initiatives
  • Reported revenue growth of 8.9%, with strong organic growth partially offset by FX headwinds in Emerging markets
  • Ongoing value share gains in Non-Alcoholic Ready-To-Drink (NARTD) and Sparkling year-to-date

Broad-based organic revenue growth, with positive volumes and revenue per case in all three segments, despite a mixed market environment  

  • Established: Organic revenue increased by 3.0%, with resilient volume growth despite mixed conditions
  • Developing: Organic revenue up 12.6%, led by revenue per case expansion and with a positive volume performance 
  • Emerging: Organic revenue up 24.1%, driven by revenue per case expansion as well as good volume growth, despite a challenging environment in several markets

Further investment in our unique 24/7 portfolio and our bespoke capabilities

  • Ongoing successful partnership with The Coca-Cola Company to capitalise on the summer period with music and sport, particularly in the out-of-home channel through the season
  • Innovations continue to drive consumer recruitment; we continued to benefit from Marvel activations, as well as targeted launches of Fanta Beetlejuice and new Coke Creations flavours

1For details on APMs refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.

Focused execution of our strategic priorities has helped deliver another quarter of strong revenue growth, up 13.9%, with good volume momentum across all three segments, as well as revenue per case expansion.

I am pleased that our Q3 results build on the strength of our first half, and clearly demonstrate how our 24/7 portfolio, combined with our bespoke capabilities, can deliver quality growth in a range of market conditions. We are mindful of macroeconomic and geopolitical challenges as well as a mixed consumer environment. However, reflecting our strong performance in the first nine months and our confidence that we can continue to win in the marketplace, we are updating our guidance for the year.

I would like to thank our teams for their hard work and agility, and our customers, suppliers, The Coca-Cola Company and all other partners, for their collaboration. I look forward to working together to deliver on our ambitions for 2024 and prepare for the years ahead.

Zoran Bogdanovic Chief Executive Officer of Coca-Cola HBC AG

Q3 2024 vs Q3 2023

Net sales revenue

Volume

Net sales revenue per unit case

Growth (%)

Organic1

Reported

Organic1

Reported

Organic1

Reported

Group

13.9

8.9

4.0

4.1

9.5

4.7

Established markets

3.0

4.1

0.9

1.1

2.0

2.9

Developing markets

12.6

14.0

2.5

2.5

9.8

11.2

Emerging markets

24.1

10.2

5.6

5.6

17.4

4.4

1For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.