Coca Cola HBC: Sales down 1.0 pct in the third quarter of 2016

Coca Cola HBC AG on Thursday reported an 1.0 pct decline in its volume of sales in the third quarter of 2016 compared with the corresponding period last year and said the volume of sales was down 0.3 pct in the January-September period.

Volume of sales in developed markets continued falling in the third quarter, down 2.5 pct reflecting lower sales in the bottled water category in Italy and Austria.

Volume of sales in developing markets fell 4.2 pct in the quarter, after a 10.4 pct increase in the same period last year.

Volume of sales in emerging markets grew 1.3 pct reflecting higher sales in Nigeria and Romania and a slowdown of sales in Russia.

Net revenue from sales per box on neutral currency basis grew 3.8 pct in the third quarter of 2016, while promotion actions and an adverse mixture of distribution channels affected net revenue from sales per box on a neutral currency basis in developed markets, down 0.3 pct.

In developing markets, net revenue grew 3.5 pct, reversing a fall in the first half of 2016, while in emerging markets, net revenue rose 8.1 pct.

Volume of sales in Greece grew slightly as a result of higher sales in the bottled water category which rose for the 12th successive quarter.