The first half of 2022 ended for Coca-Cola HBC with strong growth in sales, as well as revenue and operating profit. Increasing consumption outside the home, as most if not all markets have seen no lockdown due to the pandemic this year, repricing, as well as continued rationalization of operating costs, are major drivers of the group’s performance. .

At the same time, the group plans to change course in Russia after The Coca-Cola Company decided to stop selling its brands in the country in response to the Russian invasion of Ukraine. Coca-Cola HBC remains in Russia, its subsidiary has now been renamed Multon Partners, and its activities are focused on the further development of the local brands Dobry, Bogaty and Moya Semya. Asked yesterday by Coca-Cola HBC Managing Director Zoran Bogdanovich, commenting on the results, whether the company is going to close any of its 10 plants in Russia, he replied: “We are not thinking about closing them.”

Net sales of Coca-Cola HBC for the first half of 2022 were €4.2 billion, up 29.6% on a reported basis and up 19.4% on an organic basis. Excluding operations in Russia and Ukraine, net sales grew 25.2% organically, while sales increased 12.1%. Like-for-like operating income was €462.5 million, up 32% on a reported basis and up 23% organically. Like-for-like net income increased by 34.5% to EUR 316.9 million.

The company remains in Russia and its subsidiary has now been renamed Multon Partners in an effort to develop local brands.

Sales in Greece increased by a low double-digit rate. The volume of non-carbonated soft drinks increased to the upper end of the 15%-20% range, mainly driven by the water category, which performed well as out-of-home consumption recovered. The carbonated drinks category grew in high single digits, driven primarily by Coke Zero and adult sodas, while energy drinks continued to post double-digit growth.

It is worth noting that Coca-Cola HBC management yesterday restored its earnings estimates, which it withdrew after the Russian invasion of Ukraine. According to them, comparable operating income is expected to be between 740 and 820 million euros in 2022 (compared to 831 million euros in 2021).

Answering a question about the revaluation, Mr. Bogdanovich estimated that there would be no de-escalation of inflation in the second half of 2022. sold per box is calculated that in 2022 it will have an overall growth of 15%-20%.