COCA-COLA HELLENIC BOTTLING COMPANY S.A.

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012

RESULTS FOR THE YEAR ENDED 31 DECEMBER 2012

FOURTH QUARTERANDFULLYEAR HIGHLIGHTS

 

Q4

Q4

%

Q4 2012 before adjustments

Q4 2011

before adjustments

%

 

2012

2011

Change

Change

Volume (m unit cases)

477

466

2%

476

465

2%

Net Sales Revenue

1,605

1,524

5%

1,610

1,529

5%

Comparable Cost of Goods Sold

1,050

979

7%

1,054

982

7%

Comparable EBIT

56

72

-22%

53

73

-27%

Comparable Net Profit

22

29

-22%

22

29

-23%

Comparable EPS (€)

0.06

0.08

-25%

0.06

0.08

-25%

 

 

 

 

 

 

 

 

Full Year

Full Year

%

Full Year 2012

before adjustments

Full Year  2011             before adjustments

%

 

2012

2011

Change

Change

Volume (m unit cases)

2,085

2,087

-

2,081

2,083

-

Net Sales Revenue

7,045

6,824

3%

7,078

6,854

3%

Comparable Cost of Goods Sold

4,518

4,253

6%

4,527

4,257

6%

Comparable EBIT

453

523

-13%

465

541

-14%

Comparable Net Profit

285

326

-12%

287

330

-13%

Comparable EPS (€)

0.78

0.90

-13%

0.79

0.91

-13%

 

 

 

 

 

 

 

Note : All units in €m except per share data and volume data & volume.  Numbers before adjustments are excluding the impact of the early adopted accounting standards as detailed in page 14 and in note 1 of the condensed consolidated financial statements.

 

Fourth Quarter 2012

Full Year 2012
  • Volume: Volume grew by 2% in the fourth quarter of 2012. An 8% volume increase in emerging markets and a 1% volume increase in developing markets were partly offset by a 5% volume decline in established markets.
  • Sales: Net sales revenue grew by 5% registering the sixth consecutive quarter where revenue growth exceeded volume growth.
  • Comparable operating profit (EBIT): A combination of higher input costs and operating expenses resulted in a €16 million year on year decrease in comparable operating profit.
  •  Volume: Volume was flat in 2012. Emerging markets posted a 4% volume increase that was offset by a 2% volume decline in developing markets and a 5% volume decline in established markets.
  • Sales: Net sales revenue grew by 3%, with currency neutral net sales revenue per case growing 2.2% excluding the impact ofBelarus.
  • Comparable operating profit (EBIT): Our revenue growth initiatives more than offset total input cost increases in absolute terms, but were not sufficient to prevent gross margin decline. In addition, unfavourable foreign currency fluctuations and higher operating expenses resulted in a 13% decline in comparable operating profit.
  •  Full Year 2012 market shares: We continued to win in the marketplace. We gained or maintained volume share in sparkling beverages in 21 out of 28 markets and value share in the overall non-alcoholic ready to drink beverages category in 23 out of 28 of our markets.
  • Full Year 2012 free cash flow: Working capital improved by €84 million year-on-year and we generated free cash flow of €341 million.

Dimitris Lois, Chief Executive Officer of Coca-Cola Hellenic, commented:

“Our strategy enabled us to grow currency neutral net sales revenue by 2% for the full year. The volume and revenue growth we generated in the third quarter continued in the fourth quarter, with revenue growing faster than volume for the sixth consecutive quarter. In 2012, we maintained our volume overall, despite the very challenging trading conditions in most of our markets throughout the year. In 2012, we were able to strengthen our business further, by expanding our volume and value share in the majority of our markets, while growing Trademark Coca-Cola products by 2%.

We anticipate that in 2013, disposable income will remain under pressure, resulting from continued austerity measures and high unemployment, particularly in our established markets. We will remain focused on delivering on our strategic priorities: further strengthening our leadership position in the marketplace, driving revenue growth ahead of volume, executing our cost optimisation and process efficiency plans, and continuing to generate strong free cash flow.

The voluntary share exchange offer by Coca-Cola HBC AG will facilitate the listing of the Group on the premium segment of the London Stock Exchange which forms part of our ongoing commitment to enhance shareholder value.”

Attachment