Coca-Cola HBC (Q3) 2015 revenue dip on currency and pricing constraints in emerging markets
Coca-Cola HBC, the second largest-bottler of Coca-Cola products in the world, said that it shipped 5.4 per cent more cases in the third quarter of 2015, which was helped by favourable weather but exchange rates and pricing effects in emerging markets slowed growth.
The group’s total revenue of €1.77bn for the quarter was a decline of 2.7 per cent from the same period in the previous year.
The company said that established markets like Italy and Austria were strong contributors to a 7.4 per cent volume growth, compared to 9.6 per cent recorded in the same period last year. The growth was helped by the strong Swiss franc.
Volumes from developing markets also saw good growth by 10.4 per cent, led by Poland and Hungary.
In emerging markets, overall volume growth declined by 13 per cent mainly because of deteriorating sales in Russia and currency weakness even with exceptional volume growth in Romania, Nigeria and Ukraine, mainly in sparkling category.