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COCA-COLA HBC BOOSTED BY PRICE HIKES AS LONDON-LISTED BOTTLING GROUP SEES ITS
SHARE PRICE RISE 50% IN A YEAR

 * Coca-Cola HBC expects its full-year profit to reach the top end of forecasts 
 * In February the group said it would increase prices this year amid higher
   costs 

By Jane Denton For Thisismoney

Published: 12:05 BST, 3 May 2023 | Updated: 16:22 BST, 3 May 2023



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Bottling group Coca-Cola HBC AG expects its full-year profit growth to reach
the top end of its guidance, aided by strong demand for its soft drinks and
price increases.

The FTSE 100-listed business said growth was driven by price-mix and volume
growth in its sparkling, energy and coffee divisions, but this was offset by
falls in stills, primarily due to an anticipated weakness in water. 

Coca-Cola HBC shares rose today and were up 2.47 per cent or 60.00p to 2,493.00p
this afternoon. In the past year the company's share price has surged over 50
per cent. 


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Boost: Bottling firm Coca-Cola HBC has seen its bottom line boosted by lifting
prices

On pricing, the company noted today: 'Low-teens percent COGS/case increases in
2023.' 

HBC's net sales revenue per case for the quarter grew by 21 per cent on an
organic basis, smashing analyst forecasts of 16.7 per cent growth.


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 * Coca-Cola HBC share price and data available here

The group said it expected organic earnings before interest and taxes growth to
be at the high end of its forecast range of -3 per cent to +3 per cent.

It continues to expect organic revenue growth above its 5 to 6 per cent average
target range at a group level. 

Boss Zoran Bogdanovic, said: 'Market shares improved for both non-alcoholic
ready-to-drink and sparkling, while we effectively implemented thoughtful price
and mix changes in the face of continued cost inflation.'   

Many drinks makers have raised prices in line with a rise in energy and
commodity prices after Russia's invasion of Ukraine last year, but businesses
like Coca-Cola HBC have witnessed sustained demand as customers continued to
spend on soft drinks.



In the first quarter ending 31 March, the group saw its value share rise by 70
basis points in the non-alcoholic ready-to-drink market, while sparkling value
share increased by 10 basis points.

But foreign exchange movements hit reported revenue growth by 0.6 percentage
points, primarily due to currency devaluation in Nigeria and Egypt. 

The group said it continued to invest in its '24/7' portfolio, including the
build-out of the energy category in Egypt, the relaunch of the adult sparkling
brand Kinley in the second quarter, and the launch of Jack Daniel's and
Coca-Cola in Poland, Ireland and Hungary in April.

The company is also gearing up for additional Caffè Vergnano launches for the
second quarter in Czech Republic and Slovakia.

Bogdanovic, said: 'Although some markets have been impacted by a tougher
consumer environment, our track record of successful revenue growth management
and our sustained focus on investing in data enhanced growth capabilities puts
us in a strong position to adapt.

'We have continued to invest in our portfolio to strengthen our position as 'the
leading 24/7 beverage partner.'

Looking ahead, the company, said: 'We have delivered a good start to 2023, led
by execution of price increases and a robust volume performance across key
markets and categories. 

'While being mindful of ongoing macroeconomic and geopolitical risks, we now
have greater confidence in achieving positive organic EBIT growth in 2023.'

In February the group announced it would increase prices this year to tackle a
rise in costs. 

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COCA-COLA HBC SAYS IT'S BENEFITED FROM PRICE HIKES

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