Coca-Cola HBC has announced that it is increasing its earnings before interest and taxes (EBIT) growth projections for the year following a strong performance in the first half. The London and Athens-listed bottler for Coca-Cola now expects organic EBIT growth in the range of 9% to 12% for 2023, compared to the previous projection of being at the upper end of the -3% to 3% range.
Impressively, June marked a particularly good month for the company, and it anticipates delivering robust organic EBIT growth for the first half of the year. This growth will be primarily driven by the double-digit top-line growth and improvements in price/mix, resulting in enhanced operating leverage.
Looking ahead to the future, Coca-Cola HBC maintains its confidence in achieving its midterm guidance from 2024 onward. It foresees an average annual organic revenue growth of 6% to 7%, coupled with an average annual organic EBIT margin expansion ranging from 20 to 40 basis points per year.
These positive developments are indicative of Coca-Cola HBC’s commitment to sustained growth and profitability in the beverage industry.
Written by Anthony O. Goriainoff