Coca-Cola 3E announced on Wednesday that its net profit in 2010 amounted to EUR450mn, 8% above the prior year period, while earnings per share reached EUR1.24, 9% above 2009.
Volume of unit cases was 2,100mn, 1% above 2009, while net sales revenue amounted to EUR6,794mn, increased by 4%.
On a comparable basis, operating profit (EBIT) was EUR682mn, 5% above 2009 and free cash flow remained unchanged at EUR549mn.
On quarterly basis, net profit was EUR33mn, compared to EUR6mn in the corresponding 2009 period, while earnings per share reached EUR0.09, compared to EUR0.01 in the prior year period.
Free cash outflow amounted to EUR94mn for the last quarter of 2010, compared to the free cash inflow of EUR27mn in the prior year period.
Volume of unit cases reached 481mn, 6% above the fourth quarter of 2009, while net sales revenue was EUR1,495mn, 7% above the prior year period.
Additionally, operating profit (EBIT) was EUR61mn, increased by 1%.
Doros Constantinou, Chief Executive Officer of Coca-Cola Hellenic, commented:
“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.
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 EUR1.5 billion 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. We are confident that we will continue to generate significant cash flow and are raising our three-year rolling free cash flow target to approximately EUR1.6 billion for 2011-2013.”
Volume of unit cases was 2,100mn, 1% above 2009, while net sales revenue amounted to EUR6,794mn, increased by 4%.
On a comparable basis, operating profit (EBIT) was EUR682mn, 5% above 2009 and free cash flow remained unchanged at EUR549mn.
On quarterly basis, net profit was EUR33mn, compared to EUR6mn in the corresponding 2009 period, while earnings per share reached EUR0.09, compared to EUR0.01 in the prior year period.
Free cash outflow amounted to EUR94mn for the last quarter of 2010, compared to the free cash inflow of EUR27mn in the prior year period.
Volume of unit cases reached 481mn, 6% above the fourth quarter of 2009, while net sales revenue was EUR1,495mn, 7% above the prior year period.
Additionally, operating profit (EBIT) was EUR61mn, increased by 1%.
Doros Constantinou, Chief Executive Officer of Coca-Cola Hellenic, commented:
“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.
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 EUR1.5 billion 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. We are confident that we will continue to generate significant cash flow and are raising our three-year rolling free cash flow target to approximately EUR1.6 billion for 2011-2013.”
