US: Coca-Cola Co hails "solid" 2012 as FY sales, profits grow
- FY net profits rise by 5% to US$9.02bn
- Sales in 2012 increase by 3% to $48.02bn
- Operating profits also climb, by 6% to $10.78bn
- Group volumes up by 4% with Europe only blot on copybook
The Coca-Cola Co has reported its 2012 results today
The Coca-Cola Co has posted increases across the board for last year, with Europe providing the only major sticking point in the year.
The company said today (12 February) that net profits in the 12 months of 2012 were up by 5% year-on-year, totalling US$9.02bn. Sales in the year rose by 3% to $48.02bn, while operating profits performed similarly, climbing by 6% to $10.78bn.
The final three months of 2012 proved even healthier, with net profits up by 13% on the corresponding period a year ago, hitting $1.87bn. Sales climbed by 4% in Q4 to 11.46bn, while operating profits jumped by 12% to $2.18bn.
Global volumes increased by 4% for the full year and 3% for the quarter, however Europe posted a 12 month 1% decline, “reflecting ongoing uncertain macroeconomic conditions”, Coca-Cola said.
Sparkling beverages volumes were up by 3% for the full year and up by 1% in Q4, in contrast to Coca-Cola Enterprises' (CCE) results last week that saw the bottler's sparkling volumes drop by 3.5%.
Brand Coca-Cola grew global volumes by 3%, with India seeing a 33% growth and Thailand 31%. Fanta volumes increased 5% and Sprite volumes were up by 4% for the full year, Coca-Cola said. Global still beverage volumes increased by 10% for the year.
North America posted a 2% FY volumes growth, but China volumes declined by 4% in Q4, with Coca-Cola blaming a slowing economy and bad weather. The company said the outlook for China remains positive, with the slowdown only expected to have a short-term effect.
Latin America group’s volume grew 5% in the fourth quarter and for the full year, cycling 4% growth in the prior year quarter and 6% growth in the prior year, Coca-Cola said.
Coca-Cola chairman & CEO Muhtar Kent said he was pleased with the results in what had been a “year marked by continued uncertainty in the global economy”.
Looking ahead, Kent said more investment is needed to combat global uncertainly. “We know that it is critical to seize the opportunity to keep leading and succeeding in any environment,” he said.
To read the company's official statement, click here.
Coca-Cola Co's chief executive Muhtar Kent has argued that the group's second quarter performance is an "anomaly" caused by a combination of uncontrollable factors and not a "systemic" issue. ...
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