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    CCH   CH0198251305

COCA-COLA HBC AG

(CCH)
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Coca-Cola HBC 1st Half Net Profit Rose Above Pre-Pandemic Levels; Performance Beat Expectations

08/12/2021 | 12:33am EST

By Jaime Llinares Taboada

Coca-Cola HBC AG on Thursday reported its first-half net profit rose from a year earlier, when the Covid-19 pandemic hurt revenue.

The FTSE 100 Coca-Cola bottler, which is 23% owned by Coca-Cola Co., made a net profit of 233.1 million euros ($273.6 million) in the six months ended July 2. This was up from EUR124.0 million in the first half of 2020 and from EUR195.1 million in the first half of 2019.

Operating profit increased 73% to EUR350.1 million, beating the market consensus of EUR292.1 million--taken from Vuma and averaged from 15 analysts' estimates.

Revenue was up 15% at EUR3.25 billion, as volumes rose 14% to 1.13 billion unit cases, the company said.

"We are encouraged by the strength of the performance, and while conscious of the risks as the Covid-19 pandemic continues to impact our markets, we continue to expect a strong recovery in FX-neutral revenues and now believe that we can achieve a 20-30bps EBIT margin expansion this year," Chief Executive Zoran Bogdanovic said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

08-12-21 0233ET

Stocks mentioned in the article
ChangeLast1st jan.
BELIEVE 0.83% 17.974 Real-time Quote.0.00%
COCA-COLA HBC AG 0.66% 2453 Delayed Quote.2.52%
THE COCA-COLA COMPANY 2.56% 54.91 Delayed Quote.-4.63%
All news about COCA-COLA HBC AG
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11/042021 Third quarter Trading Update Q&A transcript
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More news
Analyst Recommendations on COCA-COLA HBC AG
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Financials
Sales 2021 7 072 M 7 988 M 7 988 M
Net income 2021 525 M 593 M 593 M
Net Debt 2021 1 921 M 2 170 M 2 170 M
P/E ratio 2021 19,9x
Yield 2021 2,43%
Capitalization 10 479 M 11 815 M 11 837 M
EV / Sales 2021 1,75x
EV / Sales 2022 1,56x
Nbr of Employees 26 000
Free-Float 52,3%
Chart COCA-COLA HBC AG
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Coca-Cola HBC AG Technical Analysis Chart | CCH | CH0198251305 | MarketScreener
Technical analysis trends COCA-COLA HBC AG
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 28,64 €
Average target price 34,69 €
Spread / Average Target 21,1%
EPS Revisions
Managers and Directors
Zoran Bogdanovic Chief Executive Officer & Executive Director
Ben Almanzar Chief Financial Officer
Anastassis Georgiou David Non-Executive Chairman
Mourad Ajarti Chief Information Officer
Naya Kalogeraki Chief Operating Officer
Sector and Competitors
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