Coca-Cola HBC AG
ATHEX:EEE

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Coca-Cola HBC AG Logo
Coca-Cola HBC AG
ATHEX:EEE
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Price: 51 EUR -1.35% Market Closed
Market Cap: €18.6B

Coca-Cola HBC AG
Investor Relations

Coca-Cola HBC AG is a bottling and distribution company for branded beverages. It makes, packages, sells, and delivers soft drinks, waters, juices, teas, coffees, and energy drinks under the Coca-Cola name and other licensed brands. Its customers are supermarkets, convenience stores, restaurants, hotels, wholesalers, and vending operators that need a steady supply of ready-to-sell drinks. The company earns money by producing beverages and selling them through its distribution network. It works as a key local partner for brand owners, turning concentrate and brand rights into finished drinks that can be shipped, stocked, and sold in each market. That means its business depends less on owning famous brands and more on running a strong manufacturing, logistics, and sales system. What makes the business model different is that Coca-Cola HBC sits in the middle of the beverage value chain. It does not create most of the drink brands it sells; instead, it handles the bottling, packaging, route-to-market, and customer service needed to get those brands onto shelves and into fridges. This makes it a local execution business with long-term ties to global beverage brands.

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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Aug 5, 2026
AI Summary
Q2 2026

Strong first half: Coca-Cola HBC delivered broad-based, volume-led growth in H1 2026, with organic revenue up 9.6% and organic volume up 7.5%.

Profit beat-through: Strong gross margin expansion helped organic comparable EBIT rise 15.2% to EUR 760 million, with comparable EPS also up 15.2% to EUR 1.51.

Guidance raised: Management narrowed full-year 2026 guidance to organic revenue growth around the top end of 6% to 7% and organic EBIT growth of 8% to 10%.

Second-half caution: The company expects H2 growth to be lower than H1 because of 4 fewer selling days, plus higher energy-related cost pressure in the Middle East.

Share gains: Growth was led by Sparkling and Energy, with strong momentum in Coke Zero, Coke Zero Zero Caffeine, Monster, and Powerade; management said the company continued to gain market share.

Capital and cash: Free cash flow was solid, but lower year on year because of a planned increase in capex tied to growth investments, including Nigeria, Egypt, automation, and digital tools.

Key Financials
Organic revenue
9.6%
Organic volume
7.5%
Comparable EBIT
EUR 760 million
Comparable EBIT margin
12.2%
Comparable gross profit margin
37.8%
Comparable EPS
EUR 1.51
Free cash flow
EUR 216 million
Free cash flow
EUR 260 million
Revenue per case
1.9%
Established revenue growth
6.2%
Established volume growth
4.8%
Developing revenue growth
9%
Developing volume growth
5.3%
Emerging revenue growth
12%
Emerging volume growth
9%
Emerging EBIT growth
23.9%
Capital expenditure as a percentage of revenue
6.1%
Finance cost guidance
EUR 40 million to EUR 50 million
COGS per case
low to mid-single digits
Key commodity hedging
above 85%
Value share
80 basis points in NARTD; 40 basis points in Sparkling
Single-serve mix
110 basis points
Single-serve mix in Poland
210 basis points
Energy volumes
over 25%
Sports drinks volumes
around 25%
Coffee out-of-home volumes
24.5%
New out-of-home outlets
more than 1,300
Russia cash
just over EUR 1 billion
Exceptional items
EUR 15 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. Zoran Bogdanovic
CEO & Executive Director
No Bio Available
Ms. Naya Kalogeraki
Group Chief Operating Officer
No Bio Available
Mr. Jan Sune Gustavsson
Chief Corporate Development Officer, General Counsel & Company Secretary
No Bio Available
Mr. Marcel Martin
Chief Corporate Affairs & Sustainability Officer
No Bio Available
Mr. Aleksandar Ruzevic
Country General Manager of Russia
No Bio Available
Mr. Anastasis Stamoulis
Group Chief Financial Officer
No Bio Available
Mr. Mourad Ajarti
Chief Digital & Technology Officer
No Bio Available
Mr. John Dawson
Head of Investor Relations
No Bio Available
Ms. Ebru Ozgen
Chief People & Culture Officer
No Bio Available
Mr. Ivo Bjelis
Chief Supply Chain Officer
No Bio Available

Contacts

Address
ZUG
Steinhausen
Turmstrasse 26
Contacts