13th Feb 2025 09:56
(Alliance News) - Coca-Cola HBC AG on Thursday reported strong organic revenue growth and hiked its dividend after a large volume increase in energy drinks and coffee.
The Zug, Switzerland-based soft drinks bottler said net sales revenue grew 5.6% on a reported basis in 2024 to EUR10.75 billion from EUR10.18 billion in the previous year.
Pretax profit surged 24% in the same period to EUR1.13 billion from EUR910.3 million in 2023.
The company declared an dividend of EUR1.03 per share, up 11% from 93 cents in the prior year.
The company said organic revenue climbed 14%, with its strategic priority categories of Sparkling, Energy and Coffee driving increased volumes.
Overall volume climbed 2.8% to 2.91 billion unit cases from 2.84 billion unit cases in 2023.
Coca-Cola HBC said trademark Coke grew by low-single digits while Coke Zero grew mid-single digits. Growth in Energy drinks was driven by Monster.
Looking ahead, the company said it expects the macroeconomic and geopolitical backdrop to remain challenging in 2025, but it expects to make progress against medium-term growth targets.
The firm expects organic revenue growth between 6% to 8% in 2025, with organic earnings before interest and tax growth of 7% to 11%.
Chief Executive Officer Zoran Bogdanovic said: "2024 demonstrated that we can achieve a consistently strong financial performance even in a range of market conditions.
"We continued to invest in our bespoke capabilities, driven by data, insights and analytics, to enable segmented and focused execution. We also made choices to further strengthen our 24/7 portfolio to drive growth and always with our customers at the heart of our decision making. We achieved share gains, and volume growth across all three of our priority categories, Sparkling, Energy and Coffee."
Shares in Coca-Cola HBC were up 6.9% to 3,175.03 pence in London on Thursday morning.
By Michael Hennessey, Alliance News reporter
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