COCA-COLA Ε.Ε.Ε. Α.Ε.
Results for the nine months ended 29 September 2006 (IFRS) - Continued strong business performance
HIGHLIGHTS FOR THE NINE MONTHS
- Volume, excluding acquisitions, of 1,331 million unit cases, 10% above 2005, (reported: 1,357 million unit cases, 12% above 2005),
- Steady progress in underlying operating profit (EBIT) to Euro 506 million, 12% above prior year (reported: Euro 469 million),
- Underlying net profit of Euro 363 million, 18% above prior year (reported: Euro 341 million),
- Underlying EPS of Euro 1.51, 17% above prior year (reported: Euro 1.41).
THIRD QUARTER HIGHLIGHTS
- Volume, excluding acquisitions, of 500 million unit cases, 10% above 2005, (reported: 522 million unit cases, 15% above 2005),
- Solid progress in underlying operating profit (EBIT) to Euro 231 million, 13% above prior year (reported: Euro 225 million),
- Underlying net profit of Euro 172 million, 16% above prior year (reported: Euro 167 million),
- Underlying EPS of Euro 0.72, 16% above prior year (reported: Euro 0.69).
Note: Underlying financial indicators (Operating profit, EPS, etc.) exclude the recognition of pre-acquisition tax losses, restructuring costs, exceptional items and the results of the acquired entities in 2006.
Doros Constantinou, Managing Director of Coca-Cola HBC, commented: Continued strong organic volume growth in the third quarter, together with effective execution of revenue growth strategies has enabled us to maintain our positive earnings momentum despite persistent raw material cost pressures. As a result, we are now confidently able to upgrade our full year earnings guidance. Our top line investment initiatives continue to reap rewards, with all product categories showing growth, particularly those in our expanding non-CSD portfolio. Together with selective acquisitions that are consistent with our strategy and further leveraging our distribution strength, we remain confident that our long-term business model will continue to support our earnings growth at a strong and sustainable level.
Coca-Cola Hellenic Bottling Company S.A. (CCHBC or the Group) is one of the world''s largest bottlers of products of The Coca-Cola Company (TCCC) and has operations in 28 countries serving a population of over 540 million people. CCHBC shares are listed on the Athens Exchange (ATHEX:EEEK), with secondary listings on the London (LSE:CCB) and Australian (ASX:CHB) Stock Exchanges. CCHBC''s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE:CCH).
Financial information in this announcement is presented on the basis of International Financial Reporting Standards (IFRS). CCHBC also prepares financial information under accounting principles generally accepted in the United States (US GAAP), which are available on our website: www.coca-colahbc.com.
Conference Call
CCHBC will host a conference call with financial analysts to discuss the 2006 third quarter results on 14 November 2006 at 4:00 pm, Athens time (2:00 pm, London time and 9:00 am, New York time). Interested parties can access the live, audio webcast of the call through CCHBC''s website (www.coca-colahbc.com).
- Volume, excluding acquisitions, of 1,331 million unit cases, 10% above 2005, (reported: 1,357 million unit cases, 12% above 2005),
- Steady progress in underlying operating profit (EBIT) to Euro 506 million, 12% above prior year (reported: Euro 469 million),
- Underlying net profit of Euro 363 million, 18% above prior year (reported: Euro 341 million),
- Underlying EPS of Euro 1.51, 17% above prior year (reported: Euro 1.41).
THIRD QUARTER HIGHLIGHTS
- Volume, excluding acquisitions, of 500 million unit cases, 10% above 2005, (reported: 522 million unit cases, 15% above 2005),
- Solid progress in underlying operating profit (EBIT) to Euro 231 million, 13% above prior year (reported: Euro 225 million),
- Underlying net profit of Euro 172 million, 16% above prior year (reported: Euro 167 million),
- Underlying EPS of Euro 0.72, 16% above prior year (reported: Euro 0.69).
Note: Underlying financial indicators (Operating profit, EPS, etc.) exclude the recognition of pre-acquisition tax losses, restructuring costs, exceptional items and the results of the acquired entities in 2006.
Doros Constantinou, Managing Director of Coca-Cola HBC, commented: Continued strong organic volume growth in the third quarter, together with effective execution of revenue growth strategies has enabled us to maintain our positive earnings momentum despite persistent raw material cost pressures. As a result, we are now confidently able to upgrade our full year earnings guidance. Our top line investment initiatives continue to reap rewards, with all product categories showing growth, particularly those in our expanding non-CSD portfolio. Together with selective acquisitions that are consistent with our strategy and further leveraging our distribution strength, we remain confident that our long-term business model will continue to support our earnings growth at a strong and sustainable level.
Coca-Cola Hellenic Bottling Company S.A. (CCHBC or the Group) is one of the world''s largest bottlers of products of The Coca-Cola Company (TCCC) and has operations in 28 countries serving a population of over 540 million people. CCHBC shares are listed on the Athens Exchange (ATHEX:EEEK), with secondary listings on the London (LSE:CCB) and Australian (ASX:CHB) Stock Exchanges. CCHBC''s American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE:CCH).
Financial information in this announcement is presented on the basis of International Financial Reporting Standards (IFRS). CCHBC also prepares financial information under accounting principles generally accepted in the United States (US GAAP), which are available on our website: www.coca-colahbc.com.
Conference Call
CCHBC will host a conference call with financial analysts to discuss the 2006 third quarter results on 14 November 2006 at 4:00 pm, Athens time (2:00 pm, London time and 9:00 am, New York time). Interested parties can access the live, audio webcast of the call through CCHBC''s website (www.coca-colahbc.com).