Focus - Coca-Cola Co's Q4 & FY Performance by Region

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Earlier today (18 February), the Coca-Cola Co reported a drop in full-year profits and sales. Here, just-drinks takes a look at how each region has performed for the soft drinks giant:


North America

Volumes in the region dropped by 1% as the “overall non-alcoholic ready-to-drink (NARTD) industry in North America continued to be impacted by a challenging external environment”, Coca-Cola said. Sparkling beverage volumes fell by 3% in the quarter and were flat for the full year, although the company said it outperformed the rest of the industry in both volume and value share.

Still beverage volumes grew by 4% in the quarter. Powerade posted high single-digit growth in the quarter, with growth coming from both the base business and new Powerade Zero Drops, the company said.

Fourth-quarter reported operating profits were even and full-year reported operating profits decreased by 6%.

Eurasia & Africa

The division increased volumes by 6% in the fourth quarter while all five of the group’s business units delivered volume growth for both the quarter and full year. The division took volume share in NARTD beverages. Sparkling beverage volumes climbed by mid-single digits in the fourth quarter, led by brand Coca-Cola.

Reported operating profits fell by 11% in the quarter but was up 1% in the full year. Comparable currency neutral operating profits increased 9% for the full year.


Volume grew 1% in the quarter while sparkling beverage volumes also increased. Coca-Cola said it still saw “ongoing macroeconomic uncertainty and weak consumer confidence”, particularly in the southern region of the continent.

The company maintained volume share in NARTD beverages and gained volume and value share in core sparkling beverages and sports drinks.

Reported operating profits were down by 11% in the quarter and by 3% for the full year.

Latin America

Volumes in the region were even in the quarter but sparkling beverage volumes were down by 3%, primarily due to “ongoing economic challenges”, particularly in Mexico and Brazil.

Reported operating profits decreased 2% in the quarter but were up by 1% for the full year. Comparable, currency-neutral operating profits increased 12% for the full year.


Volumes in the region increased by 4% in the quarter and by 3% for the full year. Growth was broad-based in Q4, with 8% growth in India, 5% growth in China and 3% growth in Japan, Coca-Cola said. Sparkling beverage volumes growth was up low-single digits in the quarter, led by brand Coca-Cola and Sprite, both up 2%.

Still beverage volumes grew high-single digits in the quarter, the company added.

Reported operating profits increased by 7% in the quarter, but decreased by 2% for the full year.

Bottling interests

Coca-Cola's Bottling Investments Group's (BIG) increased volumes by 7% in the quarter on a comparable basis, led by Germany, China and India, after adjusting for the net impact of structural changes, most notably in the Philippines and Brazil. BIG volumes, including the impact of structural changes, were down by 29% in the quarter and by 17% for the full year.

Reported operating losses in the quarter increased to US$43m, because of the deconsolidation of company-owned bottling operations. Reported operating profits for the full year fell by 18%.

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