Bottler Coca-Cola HBC has surpassed half-year profit expectations and revised its annual revenue goal upwards, citing robust sales and elevated drink prices as key contributors to its success. The company, based in Switzerland and 20% owned by U.S. beverage giant Coca-Cola (KO.N), reported strong performance despite the ongoing cost-of-living crisis. Companies have managed to maintain demand for packaged food and beverages despite raising prices to offset higher energy and input costs.
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Coca-Cola HBC, which was founded in Nigeria in 1951, anticipates organic revenue growth in the mid-teens percentage range for the full year, a significant increase from its earlier projection of 5-6%. CEO Zoran Bogdanovic highlighted the improvement in revenue per case through strategic price and mix management, aided by data-driven insights and analytics. The company’s organic net sales revenue per case grew by 19.0%, surpassing the 17.4% forecast from analysts.
