The Coca-Cola Co will report its fourth quarter and full-year results tomorrow (9 February). Here, just-drinks takes a look at the group’s highs and lows in the three months to the end of December:
- At the start of its Q4, in October, Coca-Cola and Anheuser-Busch InBev,which are both headline sponsors of the FIFA World Cup, called for the head of FIFA to step down
- The following week, the company set out plans to alter the labeling of its Vitaminwater brand in the US, in order to settle a lawsuit over health claims
- In mid-October, speculation mounted over reports that Coca-Cola and PepsiCo were competing to invest in Chobani, the US-based yoghurt maker behind the rise of Greek yoghurt in the country. The company’s silence was followed by another report that suggested it had bowed out of the process
- In late October, Coca-Cola reported a further dip in sales for the third quarter, resulting in year-to-date sales slipping by 2%
- At the same time, the group signed letters of intent with three US bottlers to grant expanded distribution territories in seven US states
- At the start of November, Coca-Cola opened a US$5m PET bottling line in Liberia
- By mid-November, analysts were speculating that Anheuser-Busch InBev’s takeover of SABMiller could allow AB InBev to try on the role of a Coca-Cola bottler ahead of making a move for the soft drinks giant
- Towards the end of November, Coca-Cola confirmed the retirement of its science chief as health discussions around tackling obesity continued
- By December, A-B InBev and Coca-Cola joined other FIFA sponsors in penning an open letter to the association, calling for “independent oversight” of its reforms
- At the same time, the company’s Mexican unit withdrew a Christmas advert in the country and issued an apology.
- Later in December, the group was reportedly in talks to buy Brazilian dairy player Laticínios Verde Campo, in a move that would see the company enter the country’s dairy sector.
- Towards the end of December, the creation of Coca-Cola Beverages Africa moved a step closer, after South Africa’s competition commission recommended the conditional approval of the merger in the country
Q3 & year to date highlights
- YTD net profits were down 4% to US$6.13bn
- Net sales in nine-month period dropped 2% to $34.3bn
- Operating profits were up 13% to $7.21bn
- YTD volumes rose 2%
- Q3 net profits tumbled 32% to $1.45bn
- Net sales in three-month period fell 5% to $11.43bn
- Operating profits were down 12% to $2.38bn
- Q3 volumes were up 3%
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