Daily Archives: May 12, 2018

Coca-Cola HBC Q1 sales hit by emerging markets currency headwinds

Coca-Cola HBC said on Friday that first quarter net sales revenue fell by 1.7% to €1.35bn, impacted by a 6.2% adverse currency translation, mainly from the depreciation of the Nigerian Naira and the Russian Rouble.

The soft drinks giant, which operates in 28 mostly European countries and Nigeria and groups its businesses into three market segments suffered a big decline in its emerging markets segments, where net sales revenue fell by 8.4% to €576.1m from €628.9m in the prior year. The decline was blamed on currency depreciation of the Nigerian Naira and the Russian Rouble, two of its biggest markets. The company notes that volumes fell by 10% in Nigeria due to tough comparative in both volume and price compared to the prior year quarter as well as availability issues in certain packs. It notes that the Nigerian economy continues to recover, but the consumer remains under pressure due to high unemployment and inflation.

AB InBev off to a strong start in Q1 as revenue grows 4.7%

Anheuser-Busch InBev on Wednesday reported a 4.7% revenue growth for the first three months of 2018, driven by strong performance of its global premium brands and revenue management initiatives.

The company said that total volumes declined by 0.2%, while its own beer volumes rose by 0.5%.

Combined revenues of its three global premium brands – Budweiser, Stella Artois and Corona grew by 7.9%, with Corona outperforming other brands by 25.1% growth, followed by Stella Artois at 12.3% and Budweiser 2.5%.