Coca-Cola HBC released its YTD results yesterday

Coca-Cola HBC released its YTD results yesterday

Today (7 November), Coca-Cola HBC released its Q3 and year-to-date results. Here, just-drinks takes a closer look at the company's performance by region.

Established markets

Volumes in the established markets segment decreased by 4% in the third quarter, following a 3% decline in the comparable prior-year period. Volumes declined by 5% in the first nine months of 2013, following a 5% fall a year earlier. Net sales decreased by 5% in the third quarter and by 6% in the nine month period. A 9% volumes increase in Coca-Cola Zero partially offset volume pressure in the sparkling beverages category in the quarter. 

Volumes in Greece were down by high single-digits in the third quarter. Volumes for the nine-month period declined by low teens.

Volumes in Switzerland increased by mid single-digits in the third quarter and by low single-digits in the first nine months of the year.

Volumes in Ireland recorded high single-digit growth in the third quarter, while volumes in the first nine months of the year increased by low single-digits.

Developing markets

Volumes in this region decreased by 2% in the third quarter and by 3% in the first nine months of 2013, following a flat performance and a 2% decline respectively in the comparable prior-year periods. Net sales slipped by 2% in the third quarter and by 4% in the first nine months of the year.

Volumes in Poland increased by low single-digits in both the third quarter and in the first nine months of 2013.

Volumes in Hungary dropped by high single-digits in both the third quarter and the nine-month period, with volume weakness across all key categories. The economic environment in the country was described as volatile with consumer confidence being among the lowest in Europe.

Volumes in Czech Republic were down by low single-digits in the third quarter, while for the first nine months of the year volumes were flat.

Emerging markets

Volumes in the emerging market segment was down by 4% in the third quarter, following a 7% increase a year earlier. Strong performances in Nigeria and to a lesser extent in Russia were more than offset by volume declines in Romania, Ukraine and Serbia. For the first nine months of 2013, volumes rose by 1%, following a 3% increase in 9M 2012. Net sales declined by 6% in the third quarter while it increased by 1% in the first nine months of 2013.

Volumes in Nigeria grew by high single-digits in the third quarter of the year, following a mid single-digit increase in the corresponding period last year. In the nine-month period, volumes were up by low-teens. Sparkling beverages was the main growth driver, recording a low double-digit increase in the quarter. Brand Coca-Cola recorded a 14% growth in the third quarter, while Fanta and Sprite grew by high single-digits.

Expert analysis

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