Coca-Cola HBC AG: first quarter 2021 trading update - good start in a challenging environment

FIRST QUARTER 2021 TRADING UPDATE

Good start in a challenging environment

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its 2021 Q1 trading update.

First quarter highlights

• Good FX-neutral revenue growth, +2.7% or +6.1% like-for-like[1], driven by Sparkling and Energy, the Emerging segment and strong execution in the at-home channel
• Growth accelerated in the Emerging segment, while the Established and Developing segments continued to be impacted by COVID-19 related restrictions extending through most of the quarter
• Volumes up +1.5% or +4.7% like-for-like¹; Sparkling and Energy together grew 10.7%. The comparative period in 2020 had 3 fewer selling days but also benefited from 2.5 months of pre-pandemic trading
• FX-neutral revenue per case +1.2% or +1.3% like-for-like¹; continued strong category mix and pricing in several markets
• Gained or maintained value share in Non-alcoholic ready-to-drink and Sparkling in the majority of markets
• Costa Coffee roll-out continues to progress well; now selling a range of formats in 16 markets

Segment highlights

• Established: Sustained positive price/mix development despite ongoing restrictions in the out‑of‑home channel
• Developing: Sugar tax implementation in Poland progressed as expected with volume recovering at the end of the quarter. Pricing taken to offset this tax had a 10.3pp impact on Developing price/mix
• Emerging: Continued strong momentum in Nigeria and accelerated trends in Russia, with both markets growing volumes double-digit

Zoran Bogdanovic, Chief Executive Officer of Coca-Cola HBC AG, commented:

"

"We have had a good start to the year despite the continued impact of the pandemic, with revenue growth led by Sparkling, Energy and strong execution in the at-home channel. Our operational agility, flexible route to market and strong customer relationships mean that we are well placed to capitalise on the reopening of the out-of-home channel. In the meantime, our diverse and balanced geographic footprint has allowed us to benefit from accelerating revenue in the Emerging market segment, while lockdowns continue to impact most European markets.

The speed and shape of recovery from the pandemic remains uncertain, but Q1 puts us on track to achieve our 2021 guidance for a strong recovery in FX-neutral revenues, along with a small increase in EBIT margin."

Please find attached the press release 
 

COCA-COLA HBC - FIRST QUARTER 2021 TRADING UPDATE