Coca-Cola HBC AG

Public consensus   -   Last updated 29/10/20

Contributors

  • 15 FY20 based on
  • 16 Q3 FY20 based on
  • 15 FY21 based on
  • 15 FY22 based on
Reporting currency: EUR
Reporting unit: Millions
FY20
CONSENSUS
29/10/20
Q3 FY20
CONSENSUS
29/10/20
FY21
CONSENSUS
29/10/20
FY22
CONSENSUS
29/10/20
Growth rates (%)
Volume (%)
Established
(11.8)
(7.1)
9.1
1.9
Developing
(4.4)
(0.3)
5.1
3.4
Emerging
(2.6)
0.1
5.2
4.1
Total Volume (%)
(5.5)
(2.1)
6.2
3.4
Impacts on volume growth which affect like for like analysis (%)
Established
-
-
-
-
Developing
-
-
-
-
Emerging
(2.2)
(4.6)
(1.4)
-
Total impacts on volume growth which affect like for like analysis (%)
(1.2)
(2.4)
(0.8)
-
Implied year on year volume growth like-for-like (%)
Established
(11.8)
(7.1)
9.1
1.9
Developing
(4.4)
(0.3)
5.1
3.4
Emerging
(0.4)
4.7
6.6
4.1
Total implied year on year volume growth like-for-like (%)
(4.3)
0.3
7.0
3.4
FXN net sales revenue reported (%)
Established
(13.2)
(7.6)
12.1
2.7
Developing
(9.2)
(2.7)
9.8
5.7
Emerging
(5.1)
(1.3)
8.4
6.5
Total FXN net sales revenue reported (%)
(8.7)
(3.8)
10.0
5.3
FXN net sales revenue per unit case reported (%)
Established
(1.4)
(0.4)
2.8
1.2
Developing
(4.7)
(2.4)
4.6
2.7
Emerging
(2.4)
(2.5)
3.3
2.7
Total FXN net sales revenue per unit case reported (%)
(3.3)
(2.3)
3.7
1.9
Impacts on FX-neutral revenue growth which affect like for like analysis (%)
Established
-
-
-
-
Developing
-
-
-
-
Emerging
(2.9)
(5.5)
(1.9)
-
Total Impacts on FX-neutral revenue growth which affect like for like analysis …
(1.1)
(2.3)
(0.8)
-
Implied year on year FX-neutral revenue like-for-like (%)
Established
(13.2)
(7.5)
12.1
2.7
Developing
(9.2)
(2.5)
9.8
5.7
Emerging
(2.2)
4.0
10.3
6.5
Total - Implied year on year FX-neutral revenue like-for-like (%)
(7.6)
(1.5)
10.8
5.3
Absolute values (€m)
Volume reported (in mUC)
Established
550.5
168.1
600.4
611.8
Developing
412.0
118.5
432.9
447.4
Emerging
1,175.9
321.8
1,237.4
1,288.5
Total Volume
2,138.4
608.4
2,270.8
2,347.7
Net sales revenue reported
Established
2,197.5
652.8
2,460.4
2,535.8
Developing
1,190.8
367.2
1,290.4
1,364.5
Emerging
2,799.4
768.8
2,909.3
3,084.1
Total Reported Revenues
6,187.8
1,788.8
6,660.1
6,984.4
Impacts on Net sales revenue reported which affect like for like analysis
Established
-
-
-
-
Developing
-
-
-
-
Emerging
(74.3)
(50.5)
(52.1)
-
Total - Impacts on Net sales revenue reported which affect like for like analys…
(74.3)
(50.5)
(52.1)
-
Implied Net sales revenue like-for-like
Established
2,193.2
654.1
2,457.4
2,535.8
Developing
1,192.1
365.9
1,289.3
1,364.5
Emerging
2,870.7
811.0
2,948.6
3,084.1
Total - Implied Net sales revenue like-for-like
6,256.1
1,831.0
6,695.3
6,984.4
Comparable Gross Profit
2,277.1
n/a
2,455.5
2,583.5
Comparable OPEX
1,654.2
n/a
1,712.6
1,772.0
EBIT
589.3
n/a
713.6
781.7
Comparable EBIT
Established
179.3
n/a
236.2
254.3
Developing
104.3
n/a
132.7
148.0
Emerging
318.3
n/a
351.4
386.1
Total Comparable EBIT
601.8
n/a
720.3
788.3
Impacts on comparable EBIT which affect like for like analysis
Established
-
n/a
-
-
Developing
-
n/a
-
-
Emerging
16.0
n/a
1.8
-
Total - Impacts on comparable EBIT which affect like for like analysis
16.0
n/a
1.8
-
Implied comparable EBIT like-for-like
Established
179.3
n/a
236.2
254.3
Developing
104.3
n/a
132.7
148.0
Emerging
302.3
n/a
350.3
386.1
Total - Implied comparable EBIT like-for-like
585.8
n/a
719.2
788.3
PBT
519.2
n/a
656.5
729.0
Comparable PBT
535.4
n/a
663.7
735.9
Tax
112.7
n/a
141.3
156.9
Comparable Tax
135.3
n/a
167.3
185.4
Net profit
386.5
n/a
490.2
544.5
Comparable Net profit
401.1
n/a
497.3
551.4
Other Items
Exceptionals/One Off/Restructuring
(14.5)
n/a
(7.7)
(7.7)
Net Finance Costs
(70.6)
n/a
(63.1)
(59.1)
Capital Expenditure
384.7
n/a
450.8
470.7
Depreciation & Amortization (incl. Emp Share opt)
386.1
n/a
396.9
409.7
EPS (€)
1.06
n/a
1.35
1.49
Comparable EPS (€)
1.10
n/a
1.37
1.51
DPS (€)
0.52
n/a
0.62
0.68
Free Cashflow (€m)
357.75
n/a
519.65
518.31
Ratios (%)
Comparable Gross Profit Margin (%)
36.9
n/a
37.1
37.2
Comparable Opex/Sales (%)
26.8
n/a
25.9
25.5
Comparable EBIT Margin (%)
9.7
n/a
10.8
11.3
Comparable EBIT Margin like-for-like
9.4
n/a
10.8
11.3
Comparable Effective Tax Rate (%)
25.3
n/a
25.2
25.2
Capital Expenditure/Sales (%)
6.2
n/a
6.8
6.7

Disclaimer

Coca-Cola Hellenic Bottling Company AG (the “Company”) is not authorised or regulated by the UK Financial Conduct Authority and may not provide investment advice. The consensus data should not be construed as an invitation, inducement or recommendation to buy or sell shares in the Company or to engage in any other form of investment activity. In addition, the consensus data is not intended to constitute a financial promotion within the meaning of section 21 of the Financial Services and Markets Act 2000.

The consensus data are based on submissions from registered investment analysts as to the Company’s expected future performance. It is therefore speculative and forward-looking and subject to a number of uncertainties that may impact the Company’s actual performance. The Company uses Vuma Financial Ltd. to collect and analyse the submissions which form the basis of the consensus data. The figures presented represent the arithmetic average of the submissions that have been provided, with each submission being given equal weight. Moreover, the data has not been adjusted to exclude any submission. The Company assumes that the submissions reflect the analysts’ genuine opinions, forecasts, estimates, projections and predictions. The analysts will, if relevant, identify and disclose all conflicts of interest that are known or reasonablu expected to be known to relate to them. No analyst has been paid a fee, commission or received a non-monetary benefit from the Company or any person connected to the Company for their submission.

The consensus data is based on the investment analysts' opinions, forecasts, estimates, projections and predictions regarding the Company's performance. It does not represent the Company’s own views on its performance nor does the Company or its management endorse or make any representation or warranty in relation to the consensus data. The Company endeavours to ensure that the consensus data is accurate and up-to-date but it is not under an obligation to update the consensus data