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How did Coca-Cola HBC perform in Q1 2019? - results data

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  • First-quarter sales up 4.7% to EUR1.41bn (US$1.58bn)
  • Volumes in three months to end of March rise 3.5% to 469.2m cases
  • Price increases introduced in late-2018 help drive top-line

Coca-Cola HBC has reported another mid-single-digit lift in sales in the first quarter, as value outstripped volumes in the three-month period.

The Coca-Cola bottler, which operates across most of Europe as well as in Nigeria, said earlier today that its sales in the three months to the end of March rose by almost 5% on the corresponding period a year ago. All three of the company's reporting regions posted growth in a quarter that was hampered by the later Easter this year.

Coca-Cola HBC 2019 - Sales versus 2018 - Organic

20182019
Fourth Quarter1560.3null
Third Quarter1868.5null
Second Quarter1875.3null
First Quarter13531412.6

Source: Company results

Volumes from the group's sparkling portfolio increased 2.8% while still drinks brands delivered a 4.3% lift. No-sugar variants within sparkling jumped 43% in the quarter as full-sugar CSDs were down. CCHBC's energy offerings impressed, with a near-32% volumes jump.

Coca-Cola HBC Q1 2019 - Sales by Region

Established MarketsDeveloping MarketsEmerging MarketsTotal
Q1 2018521.7255.2576.11353
Q1 2019532.5267.2612.91412.6

Source: Company results

  • Established Markets - Sales +1.5%, volumes +0.2%

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

The later Easter holiday this year hampered sales in CCHBC's more mature established markets in Q1. CSD volumes dipped by almost 1% in the reporting region, while energy drinks grew by double-digits. Earning special mention in the trading update were Italy, Greece and Ireland, all of which improved their volumes performances on the year prior by low-to-mid single digits. 

  • Developing Markets - Sales +6.5%, volumes +2.6%

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

Price increases last year reaped rewards for CCHBC in Poland in the three months, with sales by value keeping pace with a low single-digit volumes rise in the country. Hungary had an even better quarter, posting a mid single-digit volumes increase with Zero variants in the CSD portfolio doing well in the country.

  • Emerging Markets - Sales +6.9%, volumes +5.7%

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

While Russia - up high single digits in volume terms with the energy portfolio booming - and Nigeria - mid single-digit volumes increase - earned plaudits for their first-quarter performances, Romania and Ukraine also did well, posting volumes lifts of high single-digits and double digits, respectively.

CEO Zoran Bogdanovic

"We have started the year well, delivering solid growth in revenues despite the impact of this year's late Easter. Volume growth accelerated compared to last year and our ongoing revenue growth management initiatives continue to deliver improvements in price/mix.

"This good start sets us up well to deliver on our plans and make 2019 another year in which we achieve FX-neutral revenue growth above our targeted range with another step up in margins."

To read Coca-Cola Co's official Q! trading update, click here.

Why there's room for both Coca-Cola Energy and Monster - Click here for a just-drinks comment


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