CCHBC released its H1 & Q2 results today

CCHBC released its H1 & Q2 results today

Earlier today (8 August), Coca-Cola HBC (CCHBC) released its half-year results. Here, just-drinks takes a closer look at the company's performance in the period by region and category.

Regions

Established markets

Unit case volumes fell by 6% in both the second quarter and the first half of the year, after an 8% and 5% decline respectively in the comparable prior-year periods. Net sales fell by 6% in Q2 and by 7% in H1, while operating profits were down by 46% in Q2 and 48% in H1.

Volumes in Italy dropped by mid single-digits in Q2 and by high single-digits for the first half. In Greece, volumes declined by the low-teens in Q2 and mid-teens in H1. Volumes in Ireland were “marginally” positive in Q2 following seven consecutive quarters of decline, CCHBC said. Ireland volumes in H1 fell by low single-digits.

Developing markets

Unit case volumes in the segment fell  by 3% in both the second quarter and the first half of this year, after a 7% and 4% decline respectively in the comparable prior year periods.

Net sales dropped by 4% in Q2 and H1, while operating profits increased by 5% in Q2 but fell from EUR1m to EUR0.5m in H1. Volumes in Hungary were down by low teens in Q2 driven primarily by a decline in sparkling and water categories. Volumes in the country dropped by high single digits in the first half of the year. Volumes in Czech Republic fell by low single-digits in Q2, but increased by low single digits in H1.

Emerging markets

Unit case volumes in the segment rose by 2% in Q2 and 4% in the first half of this year. Net sales increased by 2% in Q2 and 5% in H1, while operating profits fell by 6% in Q2 but increased by 1% in H1.

Volumes in Russia grew by mid single-digits in both Q2 and H1, after a low-teens increase in the second quarter of 2012. It was the seventh consecutive quarter of volumes increase in Russia, CCHBC said.

Volumes in Nigeria grew by high single digits in Q2, following a mid single-digit decline in the same period last year. In H1, volumes increased by mid-teens. Volumes in Romania fell by high single-digits in Q2 and H1, while volumes in Ukraine declined by mid-teens and high single digits in Q2 and H1 respectively.

Beverage categories 

Premium sparkling beverages saw its fourth consecutive quarter of volume growth, up by 1% in the quarter, reflecting a 4% rise in emerging and 1% increase in developing markets, offsetting a 3% fall in established markets. Premium sparkling beverages volumes increased by 2% in the first half.

Trademark Coca-Cola volumes increased by 2% in Q2 and H1. Coca-Cola Zero “continued to perform strongly”, CCHBC said, growing by 18% in the second quarter and 15% in the first half. The energy category grew volumes by 4% in Q2, marking the thirteenth consecutive quarter of growth, with 9% growth in developing and 7% growth in emerging markets. For the first half, volumes in the energy category grew by 6%. Volumes in the juice category dropped by 4% in Q2 and 3% in H1. Water volumes fell by 8% in Q2 and 9% in H1.