Earnings release
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Coca - Cola Hellenic Bottling Company THIRD QUARTER 2021 TRADING UPDATE Focused strategy drives acceleration in growth and share gains Coca - Cola HBC AG , a growth - focused Consumer Packaged Goods business and strategic bottling partner of The Coca - Cola Company , today announces its 2021 Q3 trading update . O Third quarter highlights Strong Q3 FX - neutral revenue growth of 17.1 % . Sharp acceleration on a 2 year basis , closing 16.8 % up on Q3 2019 or 8.9 % ahead YTD , on a like - for - like basis ¹ Trading update for the three months period ended 1 October 2021 3 November 2021 Page 1 of 8 Targeted execution captured the summer season and we benefited from the reopening of the out - of - home channel ; Emerging segment strength continued O 70bps of value share gained in non - alcoholic ready - to - drink ( NARTD ) YTD Volume growth of 13.1 % was supported by priority categories in our 24/7 portfolio : Sparkling + 13.1 % ; Low / no sugar sparkling + 54.6 % ; Adult sparkling + 27.5 % ; and Energy + 29.4 % Price / mix up 5.1 % YTD and up 3.5 % in Q3 on a tougher comparator ; all three segments saw price / mix expansion gain pace versus 2019 Rigorous COGS management and disciplined OPEX control On track to complete the acquisition of Coca - Cola Bottling Company of Egypt by Q1 2022 Announced commitment to achieve net - zero emissions across the entire value chain by 2040 Segment highlights Established : Sustained positive price / mix development and volume recovery propelled by good execution during the summer season , and out - of - home channel reopening Developing : Q3 segment volumes slightly ahead of 2019 despite Polish sugar tax ● Emerging : Strong momentum in Nigeria and Russia in the period despite higher comparators Q3 2021 vs Q3 2020 growth ( % ) Total Group Established markets Developing markets Emerging markets Net sales revenue FX - neutral² 17.1 9.8 11.8 26.1 Reported 16.1 10.0 11.0 23.7 Volume 13.1 8.0 -1.9 21.3 Net sales revenue per unit case FX - neutral² Reported 2.7 1.9 3.5 1.7 14.0 3.9 13.1 2.0 Zoran Bogdanovic , Chief Executive Officer of Coca - Cola HBC AG , commented : " We delivered a strong acceleration of performance in Q3 , the result of targeted and well - prepared execution during the summer season , as well as continued growth momentum in the Emerging segment . We accelerated FX - neutral revenue growth across all segments on a two - year basis and drove a faster pace of market share gains in the quarter . This performance is due to the strength of our 24/7 portfolio , our revenue growth management capabilities , the adaptability of our route - to - market and most critically also thanks to the agility of our people who bring our strategy to life in the marketplace through close partnership with our customers . In the current inflationary environment impacting all industries our revenue growth management tools , as well as our ability to take price in the context of robust insights and analytics , will be critical . Our actions in 2021 , as well as the plans we have for Q4 and beyond will help us to mitigate the current challenging cost environment . I am pleased to reiterate our guidance for 2021 of a strong recovery in FX - neutral revenues and a 20-30bps EBIT margin expansion . " 1 Year to date 2021 performance , unless stated otherwise , is negatively impacted by the change in classification of our Russian Juice business , Multon , from a joint operation to a joint venture , following its re - organisation in May 2020 as well as positively impacted by the acquisition of Bambi in June 2019 when compared to the 2019 performance . For details on Alternative Performance Measures ( ' APMs ) refer to ' Alternative Performance Measures ' and ' Definitions and reconciliations of APMs'sections .