Coca-Cola Hellenic Bottling: First Quarter 2023 Trading Update

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May 3, 2023 (press release) –

Strategic progress driving strong revenue growth

Coca-Cola HBC AG, a growth-focused Consumer Packaged Goods business and strategic bottling partner of The Coca-Cola Company, today announces its Q1 2023 trading update.


  • Consistent execution of our 24/7 strategy delivered Q1 organic revenue growth1 of 22.2%, excluding Russia and Ukraine
    • Price mix led revenue growth as we took decisive actions to mitigate cost inflation
    • Volume growth in Sparkling, Energy and Coffee, offset by declines in Stills, driven by an anticipated weakness in Water, resulted in overall volumes unchanged
    • Continued value share gains with NARTD +70bps and Sparkling +10bps        
  • Group organic revenue up 16.2% in Q1
    • Group organic net sales revenue per case grew by 21.0%, more than offsetting a 4.0% contraction in organic volume
  • Reported net sales revenue up 24.4% in Q1
    • Consolidation of Egypt and Multon benefitted reported revenue growth by 8.8 percentage points
    • Foreign exchange movements negatively impacted reported revenue growth by 0.6 percentage points mainly due to the currency devaluation in Nigeria and Egypt
  • Segmental highlights: Strong organic revenue growth across all segments
    • Established: Organic revenue up 20.6%, with good volume growth
    • Developing: Organic revenue up 26.0% driven by price/mix expansion
    • Emerging: Organic revenue up 9.5%, benefitting from actions taken to mitigate high-cost inflation. Excluding Russia and Ukraine, organic revenue grew by 21.5%
  • Continued to invest in our 24/7 portfolio
    • Build out of the Energy category in Egypt
    • Prepared for the relaunch of the Adult Sparkling brand Kinley in Q2
    • Prepared for the launch of Jack Daniel’s & Coca-Cola in Poland, Ireland and Hungary in April
    • Prepared for additional Caffè Vergnano launches for Q2 in Czech and Slovakia

Q1 2023 vs Q1 2022

Net sales revenue


Net sales revenue per unit case

growth (%)







Total Group







Established markets







Developing markets





Emerging markets







1For details on Alternative Performance Measures (‘APMs’) refer to ‘Alternative Performance Measures’ and ‘Definitions and reconciliations of APMs’ sections.

Coca‑Cola HBC Group

Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate, and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Römerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 33,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.

Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit

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