For the same period, volume dropped to 2,069 million unit cases, 2% lower than in 2008 with net sales revenue at €6,544 million, a 6% decline on the year.
In Q4 and on a comparable basis, net profit increased to €26 million compared to €2 million in the prior year, operating profit (EBIT) posted a year on year increase of 1% at €60 million and net sales revenue dropped 12% on the year at €1,393 million.
Volume shaped at 452 million unit cases, 8% below the prior year period (on a like-for-like selling day basis and excluding the results of Socib SpA, volume of 423 million unit cases, 8% below the prior year period.
Doros Constantinou, chief executive officer of Coca-Cola Hellenic, commented:“In a year of significant external challenges, we have successfully adapted our business to near-term economic realities, whilst maintaining our long-term focus on market leadership. This enabled a strong cash flow performance, resulting in a return of capital to shareholders and a more efficient capital structure.
“We remain cautious on near-term trading conditions as we continue to witness weak consumer sentiment, with purchasing power affected by the difficult economic environment. We will therefore continue our focus on identifying cost efficiencies, reducing working capital and further strengthening our market positions. This gives us confidence to drive continued strong cash flow generation. We therefore issue guidance of approximately €1.5 billion free cash flow to be generated over the three year period ending 2012. Concurrently, we will continue to manage our business for the long-term, focusing on identifying new growth opportunities.”
Source: Coca-Cola Hellenic
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