Coca-Cola HBC AG, the bottling partner of The Coca-Cola Company, has reported double-digit revenue growth despite facing significant exchange rate challenges in emerging markets.
The company revealed a 2.8% volume growth for the twelve months ending 31 December 2024, fuelled by increased sales of coffee and energy drinks, as reported by .
Despite considerable headwinds from emerging markets such as Nigeria and Egypt, the Switzerland-based firm's reported revenue grew by 5.6%.
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These exchange rate challenges, coupled with higher operating expenses, led to a 1.1% organic decrease in earnings before interest and tax (EBIT) in the emerging segment.
However, the company reported an overall 10% rise in EBIT, resulting in a 9.5% increase in earnings per share to €2.28.
CEO Zoran Bogdanovic expressed his pride in the company's performance, stating: "I am proud that we have delivered yet another year of double-digit growth... 2024 demonstrated that we can achieve a consistently strong financial performance even in a range of market conditions."
Revenue in established markets like Greece and Ireland saw a 3.3% growth, while developing markets in Central Europe experienced a 12.7% growth, and more volatile emerging markets witnessed a 23.3% growth.
The company anticipates the market to "remain challenging" but expects to make "continued progress against medium-term growth targets". It has projected a revenue growth of six per cent to eight per cent and EBIT growth of seven per cent to 11 per cent.
"While we expect the macroeconomic and geopolitical environment to remain challenging, in the year ahead, we are confident that our portfolio, capabilities and people will enable us to make progress against our medium-term growth targets," stated Bogdanovic. The company anticipates a foreign exchange headwind of €15m to €35m in 2025.