Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Coca-Cola HBC posts record 2023 profits on strong sales

(Sharecast News) - Coca-Cola HBC on Wednesday posted record profits last year driven by surging sales and volumes for sparkling drinks and coffee combined with costs easing in the second half.

The bottling company said comparable operating profit for the year to December 31 rose 7.7% to €1.08bn. It expects profit to grow 3% to 9% this year.

Net sales were up 10.7% to €10.1bn, while volumes were up 4.6% to 2.835bn unit cases.

Comparable gross profit margin was 80 basis points higher in the full year, reflecting easing cost pressures in the second half of the year, the company added.

Organic revenue per case for 2023 was up 15%. The company also declared a €0.93 per share dividend, up 19.2% year on year.

"While we expect the macroeconomic and geopolitical environment to remain challenging, we remain confident that we will continue to make progress against our medium-term growth targets," said chief executive Zoran Bogdanovic.

Reporting by Frank Prenesti for Sharecast.com

Share this article

Related Sharecast Articles

Chipmaker TSMC lifts sales guidance as AI boom continues
(Sharecast News) - Apple and Nvidia supplier TSMC lifted its sales guidance for the full year on Thursday as demand for its chips continues to be supported by the ongoing AI boom.
Craneware full-year revenue set to top expectations
(Sharecast News) - US healthcare management and support specialist Craneware reported a strong full-year sales performance in an update on Thursday, driven by ongoing investment in the Trisus platform and successful partner programmes, resulting in significant returns for its US healthcare provider customers.
Meta reportedly in talks to buy stake in Ray-Ban maker EssilorLuxottica
(Sharecast News) - Facebook parent company Meta is reportedly in discussions to buy a 5% stake in Italian-French eyewear maker EssilorLuxottica as the social-media giant looks to deepen its ties with the company that makes its Ray-Ban Meta smart glasses.
Midwich revenue rises, earnings fall in first half
(Sharecast News) - Specialist audio-visual distributor Midwich Group reported a robust first-half revenue performance on Thursday, but a fall in earnings amid challenging market conditions.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.