Coca-Cola HBC, the London and Athens-listed bottler for Coca-Cola, has announced a 3.8% increase in reported revenue for the third quarter. Despite facing foreign-exchange headwinds in emerging markets, the company has maintained its guidance for the year.
Foreign-Exchange Impact and Revenue Growth
Coca-Cola HBC expects a translational foreign exchange headwind of €50 million to €60 million ($53.1 million to $63.7 million) on comparable earnings before interest and taxes. Net sales revenue for the quarter reached €2.8 billion, up from €2.7 billion in the previous year.
Strong Organic Growth
The company has experienced impressive organic growth, with a 15% increase in organic revenue during the third quarter. Organic volumes were also up by 2.2%, surpassing the company's forecasted 1.4% rise in total organic volume consensus. Additionally, organic revenue per case witnessed a substantial increase of 13%.
Positive Outlook for 2023
Coca-Cola HBC anticipates net finance costs for 2023 to range between €50 million and €60 million, a decrease from the previously estimated €65 million to €75 million. The company remains confident in achieving mid-teens full-year organic revenue growth and expects organic EBIT growth to fall within the 9% to 12% range.
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