Coca-Cola Hellenic Bottling Company S.A. Announces Results for the Nine Months Ended 1 October 2010

Oct 27, 2010, 02:57 ET from Coca-Cola Hellenic Bottling Co SA

    ATHENS, Greece, October 27, 2010 /PRNewswire-FirstCall/ --
    Highlights for the Nine Months

    - Free cash flow of EUR643 million for the first nine months
      of 2010, an increase of EUR124 million compared to the prior year
      period.

    - Volume of 1,620 million unit cases, stable compared to the
      prior year period. Net sales revenue of EUR5,299 million, 3% above the
      prior year period.

    - On a comparable basis, operating profit (EBIT) of EUR621
      million, 5% above the prior year period.

    - On a comparable basis, net profit of EUR417 million, 1%
      above the prior year period, and earnings per share of EUR1.15, 2%
      above the prior year period. The first nine months of 2010 include a
      tax charge of EUR21 million (EUR0.06 per share) related to the
      'Extraordinary Social Contribution Tax' in Greece.


    Third Quarter Highlights

    - Free cash flow of EUR392 million for the third quarter of
      2010, a decrease of EUR5 million compared to the prior year period.

    - Volume of 611 million unit cases, 5% above the third quarter
      of 2009. Net sales revenue of EUR1,999 million, 6% above the prior year
      period.

    - On a comparable basis, operating profit (EBIT) of EUR300
      million, 7% above the prior year period.

    - On a comparable basis, net profit of EUR216 million, 3%
      above the prior year period, and earnings per share of EUR0.60, 3%
      above the prior year period.

Note: For the definition of comparable basis and EBIT refer to 'Reconciliation of Reported to Comparable Financial Indicators' below.

Doros Constantinou, Chief Executive Officer of Coca-Cola Hellenic, commented:

"The positive financial results we have achieved in the quarter reflect successful implementation of our long-term strategic priorities and strength of our portfolio of markets. We are pleased to see signs of continued economic recovery in certain of our key markets, in particular within the Emerging market segment. In Russia, we continue to witness increased consumer confidence and spending, while we also benefited from an unprecedented heat wave in the quarter.

"The improved Group volume and operating profit momentum in one of our key selling periods was supported by ongoing tight cost control, increased operating leverage and favourable currency movements.

"As we enter our final quarter of the year, we continue to monitor the pace and extent of economic recovery across our markets. The adverse effect of government austerity measures on household disposable incomes continues to impede consumer spending, which is most evident in our Established market segment. However, our investment in the marketplace and advancement of our customer-centric vision will enable us to further strengthen our market positions and drive near-term cash flow."

SOURCE Coca-Cola Hellenic Bottling Co SA