Coca-Cola HBC, the London and Athens-listed bottler for Coca-Cola, has announced a 3.8% increase in reported revenue for the third quarter. Despite facing foreign-exchange headwinds in emerging markets, the company has maintained its guidance for the year.
Foreign-Exchange Impact and Revenue Growth
Coca-Cola HBC expects a translational foreign exchange headwind of €50 million to €60 million ($53.1 million to $63.7 million) on comparable earnings before interest and taxes. Net sales revenue for the quarter reached €2.8 billion, up from €2.7 billion in the previous year.
Strong Organic Growth
The company has experienced impressive organic growth, with a 15% increase in organic revenue during the third quarter. Organic volumes were also up by 2.2%, surpassing the company's forecasted 1.4% rise in total organic volume consensus. Additionally, organic revenue per case witnessed a substantial increase of 13%.
Positive Outlook for 2023
Coca-Cola HBC anticipates net finance costs for 2023 to range between €50 million and €60 million, a decrease from the previously estimated €65 million to €75 million. The company remains confident in achieving mid-teens full-year organic revenue growth and expects organic EBIT growth to fall within the 9% to 12% range.
Related Articles
![Western Digital Announces Plans to Separate Businesses, Reports Narrower Loss for Q1](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Western Digital Announces Plans to Separate Businesses, Reports Narrower Loss for Q1
Western Digital reveals plans to separate its businesses and reports a narrower loss for Q1, resulting in a surge in stock price. More details here.
![Pessimism Among Canadian Home Builders Continues in 2024](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Pessimism Among Canadian Home Builders Continues in 2024
Canadian home builders express pessimism about planned activity in 2024 due to factors such as higher interest rates and stretched affordability, posing a setba...
![Israeli Prime Minister Opposes Establishment of Palestinian State](https://www.signalsforex.net/img/0888b08e-b978-43c0-bdb4-4db1785eb1d5/news-article-3.jpeg?fm=jpg&q=80&fit=max&crop=1440%2C1080%2C240%2C0)
Israeli Prime Minister Opposes Establishment of Palestinian State
Israeli Prime Minister Benjamin Netanyahu opposes the establishment of a Palestinian state, aims for decisive victory over Hamas, deepening the divide between I...