After the disruptions experienced due to the invasion of Ukraine, Coca-Cola HBC has bounced back with strong volume growth and the Developing market segment organic revenue jumping 23.1%.
The Established segment organic growth was 19.3% while the Emerging segment was down 6.2%, but grew by 17.7% excluding Ukraine and Russia.
Reported net sales revenue was up 26.9% in Q3 as the newly integrated Egyptian business added 13.4% to volume growth.
“So far we have seen limited evidence of changing consumer behaviour, but are alert to this possibility and can adapt quickly if needed. We are mindful of the impact that the challenging environment has on our consumers,” said Zoran Bogdanovic, Chief Executive Officer of Coca-Cola HBC AG.
“At the same time, we take a responsible approach to pricing and mix decisions as part of our revenue growth management framework, while continuing to provide value to our shoppers and customers. As a result of this mindful approach, we are encouraged to see consistently strong performance on price / mix, alongside continued share gains, and that we remain the number one contributor to revenue growth within FMCG across our retail customers.”
Coca-Cola HBC shares surged 3.5% in early trade on Tuesday as the group said they expect EBIT to be in the range of €860 to €900 million for 2022.