Source: Sharecast
The blue chip, Coca-Cola’s bottling partner for Africa and central and eastern Europe, saw net sales revenue jump 11.6% in the three months to March end to €2.71bn, marginally missing expectations for an 11.8% uplift
Volumes grew by an above-forecast 9.6%, however, or by 3.5% once the benefit of four extra selling days was stripped out. Consensus had been for a 8.6% improvement.
Growth was seen across all segments, although emerging markets showed particular strong growth, with revenues up 15%.
Zoran Bogdanovic, chief executive, said: "We delivered a strong start to the year, with organic revenue growth of 11.6% and ongoing share gains, representing high-quality results despite challenging macro conditions."
Looking to the rest of the year, he continued: "Despite heightened geopolitical and macroeconomic uncertainty, we remain confident that our portfolio, capabilities and people position us to win in the market, and we are reiterating our 2026 guidance."
Coca-Cola HBC is currently expecting full-year organic revenue growth of between 6% and 7%, and growth in organic earnings before interest and tax in the range of 7% to 10%.
It also confirmed it remained on track to acquire Coca-Cola Beverages Africa (CCBA) during the second half. The London-listed business, which is based in Switzerland, is paying $2.6bn for a 75% stake in the business.
As at 1100 BST, the shares had dipped 1% at 4,383p, having pared much of an earlier fall.
Jefferies, which has a ‘buy’ rating on the stock, said: "While Cola-Cola HBC is not immune from a more volatile external environment, investments made around commercial capabilities and portfolio are increasing its resilience and ability to execute. [The] CCBA transaction will provide another leg of growth."
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