Coca-Cola Hellenic Bottling Company (HBC) has reported impressive sales growth in its third quarter, prompting an upgrade to its full-year forecast.
The recent financial results of Coca-Cola HBC highlight a notable increase in organic sales by 13.9%, with a rise in volume of 4%. This growth was prominently driven by strategic priority categories. Sparkling beverages increased by 3.9%, energy drinks saw a surge of 28%, and coffee recorded a substantial growth of 35.6%. These figures signify the company’s successful investment strategies and the impact of innovative products.
The company’s focus on innovation has played a crucial role in these achievements. Among the initiatives contributing to consumer engagement are the introduction of new flavours and partnerships with popular movie franchises, such as the Fanta Beetlejuice and Marvel activations. These efforts not only broadened the company’s portfolio but also attracted new customers.
Looking ahead, Coca-Cola HBC has adjusted its financial guidance for the 2024 fiscal year, predicting organic growth between 11% and 13%. This represents an increase from its earlier forecast of 8% to 12%. Similarly, the forecast for organic EBIT growth has been raised to a range of 10% to 12%, compared to previous estimates of 7% to 12%. Such upward adjustments reflect the company’s optimism and strategic adaptability in diverse market conditions.
Zoran Bogdanovic, the Chief Executive Officer of Coca-Cola HBC, expressed satisfaction with the current performance. He emphasised the solid revenue growth, momentum in volume, and increased revenue per case as key highlights. “I am pleased that our Q3 results build on the strength of our first half, and clearly demonstrate how our 24/7 portfolio, combined with our bespoke capabilities, can deliver quality growth in a range of market conditions,” stated Bogdanovic.
In addition, he acknowledged the existing macroeconomic and geopolitical uncertainties, identifying a mixed consumer environment as a challenge. However, he conveyed confidence in the company’s strategies and performance, which led to the updated yearly guidance. This confidence is based on the success observed in the first nine months of the year and the company’s ability to maintain its competitive edge in the market.
Coca-Cola HBC’s strong third-quarter performance and revised forecasts underscore its robust position in the beverage industry. Despite external challenges, the company remains committed to growth and innovation, positioning itself favourably for the future.
