Coca-Cola HBC AG on Tuesday reported a 15.3% increase in organic revenue in the third quarter of 2023, with organice revenue growth of 17% in the year.
The company said rganic volume growth was 2.2% led by strategic priority categories, with Sparkling +1.5%, Energy +24.8% and Coffee +33.5% in the July-September period, while organic revenue per case growth was 12.9%, reflecting the cumulative benefits of revenue growth management initiatives over the last twelve months, across all categories and segments.
More specifically, in Established markets: Organic revenue increased by 7.7%, led by revenue-per-case expansion, with a mixed volume performance against tough comparatives and varied weather condition. in Developing markets: Organic revenue up 15.9%, with a strong volume performance in Energy and Coffee, partially offsetting weaker volumes in Sparkling, Water and Juices and in Emerging markets:
Organic revenue up 21.8%, with a strong improvement in volume growth, notably in Egypt.
“ We’re pleased to have delivered another solid performance, and a second consecutive quarter of organic volume growth. This was driven by our strong execution, underpinned by a continued focus on our strategic priority categories of Sparkling, Energy and Coffee, as well as our focus on bespoke capability development to drive personalised execution for every outlet. Our sophisticated revenue growth management, powered by data, insights and analytics, is helping us to adapt our initiatives and execution to different consumer environments and successfully balance affordability and premiumisation. As a result, we have both enhanced revenue per case and driven higher levels of market share. “ We continue to invest in our future with a clear focus on delivering against our sustainability agenda. In Austria, we have introduced an industry-leading alternative to plastic shrink film for multipacks of multi-serve bottles, and in Romania, we have invested in recycled PET capabilities to drive packaging circularity. “ We reiterate our guidance for strong growth in 2023 and, despite continued macro uncertainties, we are well placed to deliver on our medium-term targets,” Zoran Bogdanovic, CEO said in a statement.
