Full Year 2025 Coca Cola HBC AG Earnings Call Transcript
Key Points
- Coca-Cola HBC AG (CCHBF) achieved a fifth consecutive year of strong growth, with revenue growing by 8.1% organically and EBIT increasing by 11.5% organically.
- The company gained 80 basis points of value share in the non-alcohol ready-to-drink segment in 2025, driven by strong performance in sparkling and energy categories.
- The acquisition of Coca-Cola Beverages Africa (CCBA) is expected to enhance growth opportunities, diversify geographic footprint, and be EPS accretive in the first full year post-completion.
- Coca-Cola HBC AG (CCHBF) made significant progress in sustainability, with advancements in circular packaging and achieving high return rates in deposit return systems.
- The company reported strong free cash flow of EUR700 million and increased its dividend by 17%, reflecting robust financial health and shareholder returns.
- The Established segment saw a decline in comparable EBIT by 2.8%, primarily due to increased investments in marketing and sales initiatives.
- Volume growth in the Established markets was flat, with specific challenges in countries like Austria, where consumer sentiment was lower than the EU average.
- The company faces ongoing macroeconomic and geopolitical challenges, which could impact consumer sentiment and financial performance in 2026.
- There is a potential for increased leverage post-acquisition of CCBA, which may affect the company's financial flexibility.
- The finance cost guidance for 2026 indicates an increase, partly due to bridge financing for the CCBA acquisition, which could impact net earnings.
Thank you for standing by, ladies and gentlemen, and welcome to Coca-Cola HBC's conference call for the 2025 full year results. We have with us Zoran Bogdanovic, Chief Executive Officer; Anastasis Stamoulis, Chief Financial Officer; and Jemima Benstead, Head of Investor Relations. (Operator Instructions) I must also advise that this conference is being recorded today, February 10, 2026.
I now pass the floor to one of your speakers, Jemima. Please go ahead. Thank you.
Good morning and thank you all for joining the call. I'm here with our CEO, Zoran Bogdanovic; and our CFO, Anastasis Stamoulis. In a moment, Zoran will share the key highlights of 2025. Anastasis will then take you through our financial performance in more detail and discuss the outlook for 2026 before handing back to Zoran, who will discuss the strategic growth areas 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
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