Coca-Cola HBC 1Q Revenue Fell but Met Market Views
12 Maggio 2021 - 8:44AM
Dow Jones News
By Jaime Llinares Taboada
Coca-Cola HBC AG on Wednesday reported that its revenue fell
4.0% in the first quarter, but it met market expectations.
The FTSE 100 Coca-Cola bottler, which is 23% owned by Coca-Cola
Co., generated net sales revenue of 1.35 billion euros ($1.64
billion) in the three months to March, down from EUR1.41 billion a
year earlier.
The figure was broadly in line with the market consensus of
EUR1.35 billion, taken from Vuma and based on 16 estimates.
Volume rose 1.5% to 490.8 million unit cases, but net sales
revenue per unit case decreased 5.4% to EUR2.75. A unit case
contains 5.68 litres, or 24 servings.
"The speed and shape of recovery from the pandemic remains
uncertain, but the first quarter puts us on track to achieve our
2021 guidance for a strong recovery in FX-neutral revenues, along
with a small increase in EBIT margin," Chief Executive Zoran
Bogdanovic said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
May 12, 2021 02:29 ET (06:29 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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