Coca-Cola HBC Q1 2017 by region - results data

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Earlier today, Coca-Cola HBC released a trading update for the first quarter of 2017. The company saw its emerging markets drive a near-5% rise in group sales in the three months to the end of March. Here, just-drinks breaks down CCHBC's figures for the period on a regional basis.

Coca-Cola HBC First-Quarter 2017 - Net Sales by Region

Source: Company results

Established Markets - sales -2.5%, volumes -2.2%

  • Austria, Cyprus, Greece, Italy, Northern Ireland, Ireland, Switzerland

The timing of Easter impacted performance in CCHBC's established markets - especially Italy, Austria and Switzerland. Italy was also hit by the de-listing of low-value water brands. "Moderate" volumes growth in Greece and Ireland offset some of the declines. 

Italy saw volumes slip mid-single digits with Coca-Cola Zero and Sprite the only two brands to shine in an otherwise declining sparkling category. Energy drinks, driven by Monster, enjoyed a good quarter in the organised trade channel. 

Mid-single digit volumes gains in Greece were credited to low-calorie sparkling drinks, water and Monster. CCHBC flagged a continued tough macroeconomic climate in the country.

Austria saw volumes slip "marginally", with still drinks dragging down overall performance. 

In Switzerland, the timing of promotional activity and a rise in cross-border shopping hit all categories. Growth for Fanta helped limit losses in the country to mid single digits. ?

Developing Markets - sales +1.1%, volumes -3.6%

  • Croatia, Czech, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia

The late Easter impacted CCHBC's developing markets, especially Poland, which saw volumes fall high single digits. Water was down by "high teens" in the country, following a decision to downsize the 1.75-litre pack. Coke Zero and new Fanta flavours helped steady overall sparkling declines. The Monster energy drinks brand and the group's juice offerings also performed well in the country.

Hungary experienced flat volumes as a boost in sparkling and water cancelled out losses in juice and RTD tea. Coke Zero and Sprite enjoyed growth in the high teens, aided by the launch of Sprite Zero last year. The roll out of Monster Ultra helped drive energy drinks.

The Czech Republic reported mid-single-digit volumes gains in all categories except water. CCHBC highlighted the Coke stable, particularly Coca-Cola Zero, as well as Sprite. Meanwhile, Fanta and Coca-Cola Light experienced declines. Energy drinks delivered a double-digit boost.

Emerging Markets - sales +12.6, volumes +4%

  • Armenia, Belarus, Bosnia & Herzegovina, Bulgaria, FYR Macedonia, Moldova, Montenegro, Nigeria, Romania, Russia, Serbia, Ukraine

CCHBC underscored a "strong performance for almost all" of its emerging markets. ?Russia saw the first signs of recovery, registering very low single-digit volumes gains for the first time in eight quarters. Growth in the country was driven by a mid-single-digit increase in sparkling, while all other categories declined. The firm was careful not to get too excited, maintaining its view that 2017 will be the year of volume stabilisation in the market.

Volumes in Nigeria were up mid-single-digits, despite the challenging environment and "significant price increases" taken by CCHBC in Q4 2016. Gains in sparkling and water were partially hampered by a drop in juice sales. Monster also launched in the country during the first quarter.

Romania clocked its ninth consecutive quarter of growth with volumes up mid-single-digits. Sparkling, led by trademark Coke, was up, although the water category failed to grow.

Volumes in Ukraine rose by low double digits, thanks to sparkling - particularly trademark Coke. CCHBC also highlighted the launch of Coke Zero in the country, in February. 

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