Half Year 2024 Coca Cola HBC AG Earnings Call Transcript
Key Points
- Strong organic revenue growth of 13.6% in the first half of 2024.
- Volume growth of 3.1%, led by prioritized categories such as Sparkling, Energy, and Coffee.
- Resilient EBIT performance with organic EBIT growth of 7.5%.
- Continued investment in the 24/7 portfolio and bespoke capabilities.
- Successful execution in emerging markets like Nigeria and Egypt despite significant FX weaknesses.
- Comparable EBIT margin declined by 30 basis points due to FX weaknesses in Nigeria and Egypt.
- Increased OpEx as a percentage of revenue by 130 basis points, driven by currency weaknesses.
- Consumer sensitivity to pricing in some markets, including Italy, Switzerland, and Austria.
- Impact of business disruption due to a fire in the Bambi plant, potentially affecting EBIT by up to 200 basis points.
- Higher finance costs year-on-year, mainly related to foreign currency.
Good morning. Thank you for joining the call. In a moment, Zoran will share his highlights of the first half of the year before Anastasis takes you through our financial performance in more detail and discusses the outlook with the balance of 2024. And finally, Zoran will return for a strategic overview before we open up to questions.
We have just over an hour available for the call today which should leave around 30 minutes for questions. We will therefore ask you to keep to one question and one follow-up before joining the queue again.
Let me remind you that this conference call contains various forward-looking statements and that these should be considered in conjunction with the cautionary statements in our slide pack and in our results statement issued today.
Now let me turn the call over to Zoran.
Thank you, Joanna. Good morning, everyone, and thank you for joining the call. I'm very
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