Coca-Cola HBC Raises Full-Year Forecast as Sales Surge

Coca-Cola Hellenic Bottling Company (HBC) has reported impressive sales growth in its third quarter, prompting an upgrade of its full-year forecast. As the world’s third-largest bottler of Coca-Cola, the consumer packaged goods company experienced organic sales growth of 13.9%, with volumes increasing by 4%. This surge was driven by priority categories, including sparkling beverages, which rose by 3.9%, energy drinks, which soared by 28%, and coffee, which saw an exceptional increase of 35.6%.

In the third quarter, Coca-Cola HBC continued to invest in its product portfolio, emphasizing innovation that attracts consumers. This included the introduction of new flavors and partnerships with popular movie franchises, exemplified by Fanta’s Beetlejuice and various Marvel activations.

Looking ahead, the company has revised its guidance for the 2024 financial year, now expecting organic growth between 11% and 13%, an increase from the previous forecast of 8% to 12%. Additionally, organic EBIT growth is projected to fall within the range of 10% to 12%, compared to earlier expectations of 7% to 12%.

Coca-Cola HBC CEO Zoran Bogdanovic expressed satisfaction with the soft drinks company’s results, highlighting strong revenue growth, positive volume momentum, and an increase in revenue per case. He remarked, “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.”

Bogdanovic also acknowledged the existing macroeconomic and geopolitical challenges, as well as a mixed consumer environment, but remained confident in the company’s ability to sustain its success.