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Coca-Cola Hellenic net profit falls 3%
Coca-Cola Hellenic (CCH), the world’s second-largest bottler of Coca-Cola, has reported a third-quarter net profit fall 3%.
Highlights for the nine months
- Operating cash flow net of capital expenditure of €519m in the first nine months of 2009, an increase of €250m compared to the prior year period.
- Volume of 1,617 million unit cases, flat compared to prior year period (on a like-for-like selling day basis and excluding Socib S.p.A., 1,553 million unit cases, 4% below the prior year period). Net sales revenue of €5,151m, 4% below the prior year period.
- On a comparable basis, operating profit (Ebit) of €591m, 1% below the prior year period.
- On a comparable basis, net profit of €411m, 3% below the prior year period, and earnings per share of €1.13, 3% below the prior year period.
Third-quarter highlights
- Volume of 584 million unit cases, 4% below the prior year period (excluding Socib S.p.A., 566 million unit cases, 7% below the prior year period). Net sales revenue of €1,885m, 9% below the prior year period.
- On a comparable basis, operating profit (Ebit) of €281m, 2% below the prior year period.
- On a comparable basis, net profit of €210m, 1% below the prior year period, and earnings per share of €0.58, flat compared to the prior year period.
Doros Constantinou, CEO of Coca-Cola Hellenic, said: “Although the economic outlook is still uncertain, the fundamentals of our business remain strong and we continue to drive excellent execution in the marketplace, evidenced by the share gains we achieved in the third quarter in the non-alcoholic ready-to-drink beverage category. We remain confident that the skill of our local management teams and ongoing financial discipline will enable us to deliver our free cash flow guidance of at least €1.2bn between 2009 and 2011.”
Source: Coca-Cola Hellenic
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