Όταν η Coca Cola/HBC πάει με όλα…

Ημέρα ανακοίνωσης οικονομικών αποτελεσμάτων, σήμερα Πέμπτη, για τον Όμιλο Coca Cola/HBC.

  Η αγορά περιμένει κέρδη (προ φόρων) στα 290 εκ. € με 295 εκατ. € (αύξηση, περίπου, +40%) καθώς στο πρώτο τρίμηνο κατέγραψε αύξηση εσόδων +6,1% (σε αντίστοιχη βάση σύγκρισης και 2,7% σε ουδέτερη συναλλαγματική βάση) με κύριους οδηγούς τις κατηγορίες ανθρακούχων αναψυκτικών, ενεργειακών, και θεαματική ενίσχυση στις αναδυόμενες αγορές.

   Στα 31,75 ευρώ η μετοχή, χθες Τετάρτη, με απώλειες -3,20% σε μία εβδομάδα, απόρροια των εισαγόμενων πιέσεων λόγω σημαντικής πίεσης στη μετοχή της CC/HBC εισηγμένης στο χρηματιστήριο του Λονδίνου (στον δείκτη FTSE100).

·        FX-neutral revenue growth +23.1% like-for-like. Reported revenues +14.7%.

·        FX-neutral net sales revenue closed 4% above 2019 levels (like-for-like)

·        Value share gains increased, + 50bps in NARTD

·        Volume growth of 15.9% like-for-like; sustained performance in the at-home channel complemented by recovery in out-of-home during Q2

·        Improvements in FX-neutral revenue per case, benefited from pricing taken in over 90% of our markets and positive category, package and channel mix

·        Sparkling volume +16.2%, with Adult sparkling +37.0% and Low/no sugar +40.3%. Energy volume + 66.1%.

·        Costa Coffee roll-out continues to progress well; Coffee strategy strengthened with premium Italian brand, Caffè Vergnano, to start distribution by 2022

·        Operating leverage and cost savings resulted in comparable EBIT margin up 340 bps to 10.8%. €120 million of COVID-related opex savings were achieved in 2020. CC HBC expects to retain c. €20 million of this in 2021 and therefore €100 million of these costs to return in H2 2021.

·        CAPEX reached €218.4 million, 6.7% of net sales revenue, at the lower end of targeted 6.5-7.5% range.

·        Free cash flow was €277.5 million, an increase of €316.0 million compared to the prior-year period, driven by higher profitability and a significant improvement in working capital.

·        Established: FX-neutral revenue increased by 17.1% as markets reopened, driving comparable EBIT margins up 440bps

·        Developing: FX-neutral revenue up 17.6%, with stable volume performance despite impact from Polish sugar tax; comparable EBIT margins up 180bps

·        Emerging: FX-neutral revenue up 30.3% like-for-like; continued strong performance from Russia and Nigeria and recovery through the rest of the segment led to comparable EBIT margins increasing by 340bps.