Raising full year guidance
HALF YEAR HIGHLIGHTS
- Volume of 970 million unit cases, 16% above 2006,
- Solid progress in operating profit (EBIT) to euro 331 million, 19% above prior year, on a comparable basis,
- Net profit of euro 222 million, 16% above prior year, on a comparable basis,
- EPS of euro 0.92, 15% above prior year, on a comparable basis.
SECOND QUARTER HIGHLIGHTS
- Volume of 568 million unit cases, 14% above 2006,
- Strong operating profit (EBIT) momentum to euro 271 million, 21% above prior year, on a comparable basis,
- Net profit of euro 196 million, 14% above prior year, on a comparable basis,
- EPS of euro 0.81, 14% above prior year, on a comparable basis.
Note: Comparable financial indicators (previously referred to as "underlying") exclude in 2007 the recognition of pre-acquisition tax losses and the results of Eurmatik which was acquired during the year and, in 2006, the recognition of pre-acquisition tax losses, significant restructuring costs and non-recurring items.
Doros Constantinou, Managing Director of Coca-Cola HBC, commented: "We are pleased to report another strong quarter of robust volume growth and operating margin expansion, despite higher raw material costs and additional investment in our sales capabilities in the established markets. Based on the strong momentum we have seen in the first half of the year, we are confident in our prospects for the balance of the year and accordingly, are raising our full year guidance. The second quarter also marked improved and sustainable margin expansion in the developing markets, continued strong profitability in Bulgaria and Romania post EU accession as well as further investments in Russian production capacity to further extend our market leadership in this high growth market."
9 August 2007
Coca-Cola Hellenic Bottling Company S.A. ("CCHBC" or the "Company") 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 Stock 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 second quarter of 2007 financial results on 9 August 2007 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).