Coca-Cola Hellenic Bottling Company S.A. (LSE:CCB) Return-on-Tangible-Asset : -1.84% (As of Mar. 2013)

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What is Coca-Cola Hellenic Bottling Company S.A. Return-on-Tangible-Asset?

Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Coca-Cola Hellenic Bottling Company S.A.'s annualized Net Income for the quarter that ended in Mar. 2013 was €-98 Mil. Coca-Cola Hellenic Bottling Company S.A.'s average total tangible assets for the quarter that ended in Mar. 2013 was €5,306 Mil. Therefore, Coca-Cola Hellenic Bottling Company S.A.'s annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2013 was -1.84%.

The historical rank and industry rank for Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset or its related term are showing as below:

LSE:CCB's Return-on-Tangible-Asset is not ranked ^*
in the Beverages - Non-Alcoholic industry.
Industry Median: 6.875
* Ranked among companies with meaningful Return-on-Tangible-Asset only.

Coca-Cola Hellenic Bottling Company S.A. Return-on-Tangible-Asset Historical Data

The historical data trend for Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Coca-Cola Hellenic Bottling Company S.A. Return-on-Tangible-Asset Chart

Coca-Cola Hellenic Bottling Company S.A. Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Return-on-Tangible-Asset

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4.28

8.01

8.54

5.10

3.59

Coca-Cola Hellenic Bottling Company S.A. Quarterly Data
	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13
Return-on-Tangible-Asset	Get a 7-Day Free Trial															-2.14	8.70	10.50	-3.50	-1.84

Competitive Comparison of Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset

For the Beverages - Non-Alcoholic subindustry, Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset Distribution in the Beverages - Non-Alcoholic Industry

For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset distribution charts can be found below:

* The bar in red indicates where Coca-Cola Hellenic Bottling Company S.A.'s Return-on-Tangible-Asset falls into.

Coca-Cola Hellenic Bottling Company S.A. Return-on-Tangible-Asset Calculation

Coca-Cola Hellenic Bottling Company S.A.'s annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2012 is calculated as:

Return-on-Tangible-Asset	=	Net Income	/	( (Total Tangible Assets	+	Total Tangible Assets)	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	Net Income	/	( (Total Assets - Intangible Assets	+	Total Assets - Intangible Assets)	/ count )
		(A: Dec. 2012 )		(A: Dec. 2011 )		(A: Dec. 2012 )
	=	190.4	/	( (5287.4	+	5305.5)	/ 2 )
	=	190.4	/	5296.45
	=	3.59 %

Coca-Cola Hellenic Bottling Company S.A.'s annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2013 is calculated as:

Return-on-Tangible-Asset	=	Net Income	/	( (Total Tangible Assets	+	Total Tangible Assets)	/ count )
		(Q: Mar. 2013 )		(Q: Dec. 2012 )		(Q: Mar. 2013 )
	=	Net Income	/	( (Total Assets - Intangible Assets	+	Total Assets - Intangible Assets)	/ count )
		(Q: Mar. 2013 )		(Q: Dec. 2012 )		(Q: Mar. 2013 )
	=	-97.6	/	( (5305.5	+	5306.2)	/ 2 )
	=	-97.6	/	5305.85
	=	-1.84 %

In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Mar. 2013) net income data.

Coca-Cola Hellenic Bottling Company S.A. (LSE:CCB) Return-on-Tangible-Asset Explanation

Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.

Be Aware

Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).

Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.

Coca-Cola Hellenic Bottling Company S.A. Return-on-Tangible-Asset Related Terms

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Coca-Cola Hellenic Bottling Company S.A. (LSE:CCB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Non-Alcoholic » Coca-Cola Hellenic Bottling Company S.A. (LSE:CCB) » Definitions » Return-on-Tangible-Asset

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Coca-Cola Hellenic Bottling Company S.A. was incorporated in Greece and founded in 1969. It took its current form in August 2000 through the acquisition of the Coca-Cola Beverages PLC by Hellenic Bottling Company S.A. The Company is headquartered in Athens. Its two major shareholders are the Kar-Tess Holding S.A., a private holding company, and The Coca-Cola Company. The Company and its subsidiaries are primarily engaged in the production, sales and distribution of non-alcoholic ready to drink beverages, under franchise from The Coca-Cola Company. The Company distributes its products in 27 countries in Europe and Nigeria. The Company has one business, being the production, sale and distribution of non-alcoholic, ready-to-drink beverages. The Company operates in 28 such as Austria, Cyprus, Greece, Italy, Northern Ireland, Republic of Ireland and Switzerland, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia and Slovenia, Armenia, Belarus, Bosnia and Herzegovina, Bulgaria, FYROM, Moldova, Montenegro, Nigeria, Romania, Russia, Serbia and Ukraine. The Company is licensed to produce, sell and distribute a range of beverages. The Coca-Cola Company owns the trademarks for most of these. It supplies the concentrates and is largely responsible for consumer marketing. The Company's product portfolio consists of the world-leading brands Coca-Cola, Coca-Cola Light (diet Coke), Fanta and Sprite brands that it owns manufactures and distributes, including Amita, Avra, Deep RiverRock and Fruice brands licensed by other companies, such as Nestea and Monster. The Company produces, markets and sells its customers valuable brands, in addition to the 136 brands. In 2012, sparkling beverages of The Coca-Cola Company accounted for 62% of its sales volume, low calorie sparkling beverages accounted for 6%, while still and water beverages accounted for approximately 32% of its sales volume. With more than 30 water brands in its portfolio, it focuses on generating value through the 'on-the-go' or immediate consumption occasion.