Coca-Cola HBC AG
Public consensus - Last updated
18/04/24
Contributors
- 12 Q1 FY24 based on
- 11 H1 FY24 based on
- 12 FY24 based on
- 11 H2 FY24 based on
- 12 FY25 based on
- 12 FY26 based on
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Reporting currency:
EUR
Reporting unit: Millions | Q1 FY24 CONSENSUS 18/04/24 | H1 FY24 CONSENSUS 18/04/24 | FY24 CONSENSUS 18/04/24 | H2 FY24 CONSENSUS 18/04/24 | FY25 CONSENSUS 18/04/24 | FY26 CONSENSUS 18/04/24 |
|---|---|---|---|---|---|---|
| Organic Growth rates (%) | ||||||
| Volume (%) | ||||||
Established | (2.3) | (0.1) | 1.0 | 2.1 | 1.4 | 1.2 |
Developing | 1.2 | 1.4 | 1.8 | 2.3 | 2.5 | 2.4 |
Emerging | 2.7 | 2.9 | 2.4 | 2.0 | 4.1 | 4.2 |
Total organic volume (%) | 1.4 | 1.9 | 2.0 | 2.1 | 3.2 | 3.3 |
| Net sales revenue per unit case (%) | ||||||
Established | 5.2 | 3.5 | 2.5 | 1.6 | 2.2 | 2.1 |
Developing | 5.7 | 4.5 | 3.8 | 3.3 | 3.2 | 3.1 |
Emerging | 11.8 | 11.2 | 9.9 | 8.7 | 5.0 | 4.3 |
Total organic net sales revenue per unit case (%) | 7.7 | 6.7 | 5.9 | 5.0 | 3.2 | 2.9 |
| Revenue (%) | ||||||
Established | 2.9 | 3.4 | 3.6 | 3.7 | 3.6 | 3.3 |
Developing | 7.1 | 6.0 | 5.7 | 5.7 | 5.8 | 5.5 |
Emerging | 15.0 | 14.3 | 12.7 | 10.9 | 9.5 | 8.9 |
Total organic revenue (%) | 9.5 | 8.8 | 8.0 | 7.2 | 6.6 | 6.3 |
| Comparable EBIT (%) | ||||||
Established | n/a | 7.9 | 7.1 | 6.6 | 5.8 | 5.1 |
Developing | n/a | 13.1 | 11.6 | 10.1 | 10.8 | 10.3 |
Emerging | n/a | 0.1 | 8.1 | 19.5 | 12.4 | 11.0 |
Total organic comparable EBIT (%) | n/a | 4.4 | 8.3 | 12.8 | 9.7 | 8.8 |
| Absolute values (€m) | ||||||
| Volume (m unit cases) | ||||||
Established | 133.8 | 306.3 | 635.4 | 329.2 | 644.4 | 651.1 |
Developing | 93.4 | 210.2 | 481.3 | 227.2 | 491.7 | 503.2 |
Emerging | 394.5 | 873.7 | 1,776.7 | 904.3 | 1,850.1 | 1,930.5 |
Total Volume (m unit cases) | 621.8 | 1,390.2 | 2,893.4 | 1,460.7 | 2,986.2 | 3,084.9 |
| Net sales revenue | ||||||
Established | 725.7 | 1,695.9 | 3,496.2 | 1,796.8 | 3,618.3 | 3,722.2 |
Developing | 463.3 | 1,077.1 | 2,258.8 | 1,184.1 | 2,384.7 | 2,510.6 |
Emerging | 1,027.1 | 2,282.0 | 4,563.1 | 2,312.3 | 4,919.7 | 5,301.2 |
Total Net sales revenue | 2,216.1 | 5,054.9 | 10,318.0 | 5,293.2 | 10,922.7 | 11,534.0 |
Comparable Gross Profit | n/a | 1,754.9 | 3,592.0 | 1,850.6 | 3,832.2 | 4,068.4 |
Comparable OPEX | n/a | (1,206.2) | (2,472.5) | (1,281.6) | (2,611.6) | (2,749.9) |
EBIT | n/a | 544.8 | 1,112.6 | 570.0 | 1,213.2 | 1,310.4 |
| Comparable EBIT | ||||||
Established | n/a | 188.3 | 411.3 | 222.9 | 434.3 | 453.3 |
Developing | n/a | 79.5 | 176.4 | 96.6 | 194.8 | 213.7 |
Emerging | n/a | 279.5 | 530.8 | 253.3 | 589.9 | 649.7 |
Total Comparable EBIT | n/a | 547.4 | 1,118.5 | 572.8 | 1,219.0 | 1,316.8 |
Profit Before Tax | n/a | 512.2 | 1,058.7 | 548.9 | 1,156.8 | 1,261.3 |
Comparable Profit Before Tax | n/a | 518.8 | 1,068.2 | 551.6 | 1,168.0 | 1,267.2 |
Tax | n/a | (136.8) | (281.3) | (145.7) | (306.1) | (333.3) |
Comparable Tax | n/a | (137.7) | (283.7) | (146.6) | (310.0) | (335.3) |
Net profit | n/a | 375.5 | 777.6 | 403.4 | 850.9 | 928.3 |
Comparable Net profit | n/a | 380.9 | 785.2 | 405.9 | 858.6 | 932.7 |
| Other Items | ||||||
Exceptionals and One Offs | n/a | (3.2) | (7.0) | (3.4) | (7.0) | (7.0) |
Net Finance Costs | n/a | (31.5) | (60.8) | (29.3) | (62.1) | (61.9) |
Capital Expenditure | n/a | 278.9 | 689.2 | 414.6 | 728.8 | 768.9 |
Depreciation & Amortization (incl. Emp Share opt) | n/a | 226.2 | 478.3 | 261.0 | 508.1 | 536.0 |
EPS (€) | n/a | 1.04 | 2.15 | 1.17 | 2.38 | 2.60 |
Comparable EPS (€) | n/a | 1.05 | 2.16 | 1.12 | 2.39 | 2.61 |
DPS (€) | n/a | n/a | 0.98 | n/a | 1.07 | 1.18 |
Free Cashflow (€m) | n/a | 284.54 | 655.17 | 388.33 | 722.22 | 753.38 |
| Ratios (%) | ||||||
Comparable Gross Profit Margin (%) | n/a | 34.6 | 34.7 | 34.9 | 35.0 | 35.3 |
Comparable Opex/Sales (%) | n/a | 23.8 | 23.9 | 24.1 | 23.9 | 23.8 |
Comparable EBIT Margin (%) | n/a | 10.8 | 10.8 | 10.8 | 11.2 | 11.4 |
Comparable Effective Tax Rate (%) | n/a | 26.5 | 26.6 | 26.6 | 26.5 | 26.5 |
Capital Expenditure/Sales (%) | n/a | 5.5 | 6.7 | 7.8 | 6.7 | 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
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