FDBusiness.com

Solid Performance by Coca-Cola Hellenic

 Breaking News
  • HKScan Strengthens its Meals Offering With Investment in Estonia HKScan, the leading Nordic food company, plans to invest in its Rakvere unit in Estonia. The €8 million investment will go towards modernising the unit’s frying department, including the expansion of the building and the installation of new cooking and packaging lines enabling implementation of new technologies and packaging solutions. Construction is to commence in [...]...
  • Food and Drink is at the Heart of the UK’s Largest Packaging Show Packaging Innovations, Empack and Label&Print returns to Birmingham’s NEC on 28 February-1 March 2018, and is set to be the most innovative show to date. With over 290 exhibitors already signed up, the UK’s largest annual event for the entire packaging supply chain will feature the latest industry innovations and technologies, alongside a major free-to-attend [...]...
  • AGRO Merchants Group Acquires Grocontinental AGRO Merchants Group, a global leader in cold storage and logistics solutions, announced today the acquisition of UK-based Grocontinental Limited. This transaction reinforces AGRO’s position as the leading cold storage and logistics provider in the United Kingdom and Ireland, deepens its commodity expertise, and substantially enhances its value-added service offerings for customers. David Grocott and Linda Grocott, third generation owners of [...]...
  • Trade Fair and More – The Event and Congress Programme For Anuga FoodTec 2018 Resource efficiency will be the primary focus of Anuga FoodTec 2018, the leading international supplier fair for the food and beverage industry, which will be held in Cologne, Germany from 20 to 23 March 2018. Around 1,700 suppliers from more than 50 countries will be presenting their new products for the production and packing of [...]...
  • TINE to Invest €77 Million in New Jarlsberg Plant in Ireland TINE, Norway’s largest farmer-owned dairy co-operative, is to invest €77 million in a dairy with the capacity to produce 20,000 tonnes of Jarlsberg cheese a year. The goal is to secure and strengthen Jarlsberg sales outside of Norway as export supports are phased out in 2020. This will make export of Jarlsberg from Norway unprofitable. “Jarlsberg [...]...

Solid Performance by Coca-Cola Hellenic

Solid Performance by Coca-Cola Hellenic
February 14
14:34 2011

Greece-based soft drinks group Coca-Cola Hellenic increased volume sales by 1% in 2010 to 2.1b cases and net revenue by 4% to Eur6.79b. On a comparable basis (excluding restructuring costs), operating profit (EBIT) rose 5% to Eur682m and net profit advanced 8% to Eur450m. Free cash flow of Eur549m was stable compared to 2009.

During 2010, Coca-Cola Hellenic continued to focus on implementing cost reduction and productivity improvement initiatives as part of an ongoing effort to increase competitiveness and efficiency. The group incurred pre-tax restructuring costs of Eur37m which are expected to yield annualised benefits of Eur35-40m from 2011 onwards. Furthermore, Coca-Cola Hellenic has identified additional restructuring opportunities at a cost of approximately Eur30-35m in 2011, with expected annualised benefits of Eur20-25m from 2012 onwards.

Coca-Cola Hellenic is one of the world’s largest bottlers of Coca-Cola products. It has a broad geographic reach with operations in 28 countries serving a population of approximately 560 million people.

Doros Constantinou, chief executive of Coca-Cola Hellenic.

“We are pleased to report that Coca-Cola Hellenic delivered a solid performance in 2010, despite the persistent macro economic challenges across our geography. We continued to win in the marketplace, improve operating efficiency and maintain our strong cash flow generation. At the same time Coca-Cola Hellenic’s geographic diversity enabled us to deliver a strong set of results,” comments Doros Constantinou, chief executive of Coca-Cola Hellenic.

He adds: “Looking to the current year, we are encouraged that some of our key countries are exhibiting signs of economic improvement. However, we remain cautious as other key countries are continuing to endure economic challenges, and we are facing industry wide pressure on commodity prices. As we manage the business for the long-term we will be increasing our net capital expenditure to Eur1.5b for 2011–2013. At the same time, we remain focused on improving the efficiency of our business, and strengthening the ways in which we serve our customers.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
  • January 17, 2018Dutch Organic Trade Fair
  • January 17, 2018Anfas Food Product
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements