Internationally, the Company achieved broad based unit case volume growth of 3%.
Unit case volume increased in key emerging markets, with 31% growth in India, 10% growth in China, high single-digit growth in Southern Eurasia, Thailand and Vietnam and mid single-digit growth in Korea and Nigeria.
During the quarter, Latin America continued with strong unit case volume growth of 5%, led by a 6% increase in Mexico and a 4% increase in Brazil, as well as continued volume and value share gains in both sparkling and still beverages.
Europe outperformed the industry and gained volume and value share.
Unit case volume growth of 3% in Northwest Europe was offset by significant macroeconomic challenges in Central and Eastern Europe resulting in unit case volume for the group declining 2% in the quarter, cycling 4% growth in the prior year quarter.
North America again outperformed the industry, gaining non-alcoholic ready-to-drink share for the fifth consecutive quarter. North America realized sequential improvement with unit case volume declining 2% in the quarter.
In Japan, unit case volume was even, outperforming the non-alcoholic ready-to-drink industry and resulting in the fourth consecutive quarter of share gains.
Sparkling beverage unit case volume was even in the quarter. International sparkling beverage unit case volume increased 1% in the quarter, cycling 5% growth.
Still beverage unit case volume increased 9% in the quarter, led by strong growth across the portfolio, including juices and juice drinks, sports drinks, teas, and water brands. International still beverage unit case volume increased 13% in the quarter.
Globally, the Company gained volume and value share in non-alcoholic ready-to-drink beverages for the seventh consecutive quarter.
Financial Highlights
“While the global economic environment remains challenging, we are well positioned for long-term growth. Our business was built for times like these,” said Muhtar Kent, president and chief executive officer, The Coca-Cola Company. “We again exceeded our long-term profit target and delivered solid volume results. Importantly, in many worldwide markets, we outperformed the non-alcoholic ready-to-drink industry, driving further volume and value share gains. I am confident that, armed with strong brands and solid business fundamentals, our experienced management team will continue delivering against our long-term targets.”
“Consumers around the world love and trust our brands and turn to us to provide simple moments of refreshment nearly 1.6 billion times every day. And every week, our system reaches 20 million customers around the world with innovative, category-leading brands and services that deliver at the point of sale. There really is no better consumer business to be in today… or tomorrow.
“Further, our business has historically generated significant cash flow in all economic conditions, enabling us to invest in key brands and geographies, and consistently return value to our shareowners. This is clearly reflected by our 47th consecutive annual dividend increase and the continued investment behind our growing stable of billion dollar brands.
“Our strong foundation, consistent set of strategic priorities, and alignment with our invaluable bottling partners were drivers of our continued success this quarter. Our system is truly like no other, and is now more aligned and more capable of creating value for our consumers, our customers, and our shareowners. All of this provides us confidence that The Coca-Cola Company will continue to deliver consistent, long-term sustainable growth and with great resolve will come out of this tumultuous period much better than when we entered.”
Source: The Coca-Cola Company
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