Coca-Cola (NYSE:KO) HBC, dual-listed on the London and Athens stock exchanges, reported a 3.8% increase in Q3 revenue on Tuesday, with organic revenue and volumes rising by 15% and 2.2% respectively. This growth comes despite forex challenges in emerging markets. The firm's net sales revenue climbed from EUR 2.7 billion to EUR 2.8 ( EUR 1 = $1.05) billion year-on-year.
The company anticipates a forex headwind of EUR 50-60 million on comparable earnings before interest and taxes (EBIT), but also projects a decrease in its 2023 net finance costs to EUR 50-60 million, down from an earlier estimate of EUR 65-75 million.
Coca-Cola HBC reaffirmed its annual guidance, projecting mid-teens full-year organic revenue growth and 9%-12% organic EBIT growth. The company also reported a significant increase in organic revenue per case, which surged by 13%, exceeding the company's 1.4% volume consensus.
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