Coca-Cola HBC AG said on Tuesday its net sales revenue, on an organic basis, rose 12.6 % in the first quarter of 2024, with continued progress of our 24/7 strategy.
Volumes were up 1.8% thanks to its performance in emerging and developing markets. Sales volumes in carbonated soft drinks were flat, while energy drinks and coffee saw strong double-digit growth (+37.3% and +34.3% respectively).
Net sales were up 16% on a reported basis to 480.1 million euros from 412.2 million euros in the first quarter of 2023.
The Group also announced:
*Continued value market share improvement following strong 2023 performance with 120bps growth in ready-to-drink non-alcoholic beverages and 70bps growth in carbonated beverages.
*Increase in net sales revenue on an organic basis in all markets, with particularly strong performance in emerging markets.
*Developed Markets: Net sales revenue rose 5.1% on an organic basis, driven by growth in revenue per case, with the change in sales volumes impacted by strong comparative period performance.
*Emerging markets: Net sales revenue increased 12.5% on an organic basis, with an encouraging improvement in sales volumes after a challenging 2023.
*Emerging Markets: Net sales revenue increased 19.0% on an organic basis, driven by increased revenue per case, while also delivering resilient volume performance despite the impact of the macroeconomic environment and negative currency movements.
*Continued investment in 24/7 consumption product portfolio and niche capabilities.
*Consumption pack mix in carbonated beverages increased 230 basis points, driven by initiatives to manage revenue growth.
*Monster Energy Green Zero Sugar launched in 16 markets, supporting Monster’s continued strong growth.
*The increase in coffee is mainly due to the increase in premium out-of-home points of sale.
*Finlandia Vodka distribution expanded to 17 additional markets.
*Agreement to acquire BDS Vending in Ireland, strengthening its vending machine capabilities and strategic planning.
Chief Executive Officer Zoran Bogdanovic commented: “We have made a strong start to the year, with continued progress of our 24/7 strategy. Organic revenues grew by 12.6% led by our strategic priority categories of Sparkling, Energy and Coffee. We are also pleased to report another quarter of volume growth and market share gains.”
