Full Year 2024 Coca Cola HBC AG Earnings Call Transcript
Key Points
- Coca-Cola HBC AG (CCHBF) achieved a strong organic revenue growth of 13.8% in 2024, with volume expansion of 2.8%.
- The company reported its highest ever comparable EBIT of EUR 1.2 billion, marking a 12.2% year-on-year increase.
- Coca-Cola HBC AG (CCHBF) gained 150 basis points in value share within the NARTD category in Europe, continuing to lead in retail customers' absolute revenue growth.
- The company has been recognized as the world's most sustainable beverage company by the 2024 Dow Jones Best-in-Class Indices.
- Coca-Cola HBC AG (CCHBF) continues to invest in its 24/7 portfolio, focusing on high-potential categories like Sparkling, Energy, and Coffee, and expanding its premium spirits offerings.
- The company faces ongoing macroeconomic challenges, particularly in the Emerging segment, with significant currency headwinds in large markets like Nigeria and Egypt.
- There is continued consumer price sensitivity across several markets, necessitating adjustments in pricing and promotions.
- Operating expenses as a percentage of revenue increased by 70 basis points, partly due to noncash foreign currency remeasurement in emerging markets.
- The Established segment saw flat comparable EBIT due to operational leverage being offset by ongoing investments.
- Coca-Cola HBC AG (CCHBF) anticipates continued inflationary pressures on costs, particularly in aluminum, freight, and secondary packaging materials.
Good morning, and thank you all for joining the call. In a moment, Zoran will share his highlights of 2024, Anastasis will then take you through our financial performance in more detail and discuss the outlook for 2025 before handing back to Zoran, who will discuss our growth opportunities for the business. We will then open up the floor to questions.
We have about an hour for the call today, which should give plenty of time for a good discussion. Please keep to one question and one follow-up waiting for us to answer the first question before moving to your follow-up.
Finally, I must remind you that this conference call contains various forward-looking statements. These should be considered in conjunction with the cautionary statements in our results press release this morning and at the end of our slide deck.
And with that, I will turn the call over to Zoran.
Thank you, Jemima.
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