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How did Coca-Cola HBC perform in 2019? - results data

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  • Full-year sales climb 4.4% to EUR7.03bn (US$7.63bn)
  • Volumes also grow in 2019, by 3.3%
  • Low- and no-sugar portfolio leaps by 26.7% in volumes
  • Costa Coffee-branded products due to roll out in second quarter

Coca-Cola HBC has posted a slower rate of growth from last year, although a marked improvement in Nigeria looks set to keep the group on-course in 2020.

Sales in the 12 months of 2019 came in 4.4% up on the year prior, the bottler reported yesterday. The performance comes on the back of the 6% top-line lift in 2018.

Coca-Cola HBC 2019 - Sales versus 2018 - Organic

Source: Company results

CCHBC, which splits its markets into three reporting regions, saw its 'Established' cluster inch up by 1.3%. Poor weather in markets including Austria and Switzerland hampered the segment's performance last year, with 'sparkling' brands, such as Coca-Cola Zero and Fanta, driving the figures.

The 'Developing' group of markets - led by Poland, Hungary and Czech - was in-line with group sales, increasing by 4.2%. Volumes, however, were flat, indicating a preference for the company's higher-priced offerings. 'Sparkling' and 'Energy' did well last year, thanks in part to the launches of Coke Energy in Hungary and Poland.

CCHBC's 'Emerging' set of countries did most of the heavy lifting, delivering a 7.1% sales increase. In Nigeria, one of the group's key markets, volumes jumped 9.1% - and by double digits in the fourth quarter - due to a price reduction for some PET packs in October. Russia, meanwhile, bounced back after a disappointing summer hampered by poor weather. The company's 'Energy' offerings - Burn and Monster were joined by Coke Energy in 2019 - posted a 31.3% leap in volumes in the country.

Coca-Cola HBC 2019 - Sales by Region - organic

Source: Company results

CEO Zoran Bogdanovic

"2019 was another year of strong growth with the business recording its highest ever volume and comparable EBIT. I am particularly pleased with how we finished the year, following the unseasonable weather we faced in Q2 and Q3. We drove growth across all three market segments as well as in our three largest markets of Russia, Italy and Nigeria. Our core sparkling category continues to grow, supported by momentum in low- and no-sugar variants and we continue to gain or maintain share in the majority of our markets.

"We enter 2020 with considerable momentum and exciting plans that include the roll-out of Costa Coffee in at least ten of our markets. We are confident that we are well on track to deliver our 2020 commitments and to make solid progress on our 2025 growth agenda."

Looking to this year, and the company believes revenue-per-case to be "at a similar level" to 2019. The 'Established' group of markets should benefit from the weak comparables, while growth in the 'Developing' segment will decelerate. 'Emerging' markets should be in line with the year prior.

The second quarter of this year will see the debut of "a range of" Costa Coffee RTDs, with around ten of CCHBC's markets hosting the range by the end of the year.

To access Coca-Cola HBC's official full-year results announcement, click here.

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