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Coke Hellenic reveals results for six months ended 2 July

Shaun Weston29 Jul 2010

Coca-Cola Hellenic (CCH) second quarter net profit fell 11%, below market expectations, mainly due to a windfall tax in Greece.

Half-year highlights

Free cash flow of €251m for the first half of 2010, an increase of €129m compared to the prior year period.
Volume of 1,009m unit cases, 2% below the first half of 2009. Net sales revenue of €3,300m, 1% above the prior year period.
On a comparable basis, operating profit (Ebit) of €320m, 3% above the prior year period.
On a comparable basis, net profit of €201m, stable compared to the prior year period, and earnings per share of €0.55, stable compared to the prior year period. The first half of 2010 includes a tax charge of €21m (€0.06 per share) related to the ‘Extraordinary Social Contribution Tax’ in Greece.

Free cash flow of €186m for the second quarter of 2010, an increase of €73m compared to the prior year period.
Volume of 578m unit cases, 2% below the second quarter of 2009. Net sales revenue of€1,923m, 2% above the prior year period.
On a comparable basis, operating profit (Ebit) of €264m, 2% below the prior year period.
On a comparable basis, net profit of €172m, 11% below the prior year period, and earnings per share of €0.47, 11% below the prior year period. The second quarter of 2010 includes a tax charge of €21m (€0.06 per share) related to the ‘Extraordinary Social Contribution Tax’ in Greece.

Source: Coca-Cola Hellenic