TURKEY: Coca-Cola Icecek FY profits soar off back of strong lira
- FY net profits jump 171% to TRY380.1m (US$209.8m)
- Net sales up 21.2% to TRY4.1bn
- Operating profits (EBITDA) rise by 76.4% to TRY682.6m
- Export sales up by 33.7% to US$770.6m
CCI has posted a strong set of 2012 results
A strong Turkish lira and solid international performance has helped Coca-Cola Icecek (CCI) deliver a leap in full-year net profits.
The Istanbul-headquartered company said on Friday (15 March) that net profits in the 12 months to the end of December jumped by 171% to TRY380.1m (US$209.8m). Sales in the period rose by 21.2% to TRY4.1bn.
Operating profits (EBITDA) were also healthy last year, increasing by 76.4% to TRY682.6m.
Domestic volumes rose by 4% to 569m unit cases, while international volumes increased by 31% to 282m unit cases.
Damian Gammell, CCI's CEO, said the company “continued to focus on translating strong volume growth into value” in 2012. He added that net profits were boosted “significantly as CCI benefited from a stronger Turkish lira”.
In Q4, net sales rose by 26% to TRY844.9m, while EBITA increased by 28.2% to TRY76.4m.
Looking ahead to 2013, Gammell said: “We expect our sales revenue to grow faster than our volume.”
He added: “We believe CCI will continue to deliver successful results for the years to come. We are only at the beginning of the journey.”
To view Coca-Cola Icecek's full statement, click here.
For further coverage of the firm's perfomance, click here.
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