The Coca-Cola Company has posted an 11% rise in full-year net revenue to $43 billion, driven by higher prices and concentrate sales.
For the fourth quarter, the company reported net revenue growth of 7% to $10.1 billion. Operating income grew 24% for the quarter and 6% for the year, despite currency “headwinds”.
Global unit case volume grew 5% in 2022, due to strength in away-from-home channels and ongoing investments in the marketplace.
In 2022, unit case volume for sparkling soft drinks grew 4%, boosted by a strong performance in Latin America and Asia Pacific. By the same measure, juice, value-added dairy and plant-based beverages grew 3% for the year, driven by strong growth in developed markets, but declined 7% in the quarter.
James Quincey, chairman and CEO of The Coca-Cola Company, said: “While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment. As we begin 2023, we continue to invest in our capabilities and strengthen alignment with our bottling partners to maintain flexibility.
“We are keeping consumers at the centre of our innovation and marketing investments while also leveraging our expertise in revenue growth management and execution. Our growth culture is leading to new approaches, more experimentation and improved agility to drive growth and value for our stakeholders.”
© FoodBev Media Ltd 2023
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