Coca-Cola HBC’s full-year results top expectations
Coca-Cola HBC’s operating profit rose more than analysts had expected last year due to steady demand for coffee, energy and other ready-to-drink products, sending the bottler’s shares nearly 8% to a record high on Thursday.
Demand for sodas and energy drinks has held up in an otherwise declining packaged food industry as companies have diversified and tailored their product offerings to different regions and seasons, Reuters reported.
Coca-Cola HBC’s organic earnings before interest and taxes (EBIT) jumped 12.2% in 2024, exceeding analysts’ average estimate of an 11.9% increase, according to a company-compiled poll. Its organic revenue growth of 13.8% also beat expectations. The company’s shares surged 7.6%.
Coca-Cola which owns more than 20% of the bottler, organic revenue growth forecast due to uncertainty fuelled by President Donald Trump’s tariffs.
While these tariffs have led to companies across sectors bracing for potential increases in costs, Coca-Cola HBC CEO Zoran Bogdanovic said any impact on commodity prices would be “immaterial” to the bottler.
