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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Coca-Cola Amatil Limited    CCL   AU000000CCL2

COCA-COLA AMATIL LIMITED

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Coca Cola Amatil : Withdraws Earnings Guidance Due to Coronavirus

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03/16/2020 | 05:06pm EDT

By Mike Cherney

SYDNEY--Australian bottler Coca-Cola Amatil Ltd. said Tuesday that it is withdrawing its 2020 earnings guidance due to disruptions from the novel coronavirus.

The company previously expected mid-single digit earnings per share growth in 2020 and in the medium term.

"Given the significant uncertainty in relation to the duration and impact of the Covid-19 pandemic, we no longer feel it is appropriate to continue to provide earnings guidance," the company said in a statement.

Travel restrictions aimed at slowing the spread of the virus are hitting just before the crucial Easter and Ramadan trading periods, Amatil said.

In Australia and New Zealand, Amatil said it is seeing strong growth in the grocery channel as consumers stock up. However, that growth has been offset by declines in the on-the-go channel, which are expected to accelerate as consumers stay home and major events are cancelled.

In Indonesia, another key market for Amatil, the company said there's been a reduction in foot traffic as people stay home and that volumes in Bali have been hit by a severe decline in tourism.

 

Write to Mike Cherney at mike.cherney@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
COCA-COLA AMATIL LIMITED -1.35% 8.76 End-of-day quote.-20.80%
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Financials
Sales 2020 4 525 M 3 016 M 3 016 M
Net income 2020 292 M 195 M 195 M
Net Debt 2020 1 351 M 900 M 900 M
P/E ratio 2020 21,5x
Yield 2020 2,93%
Capitalization 6 342 M 4 211 M 4 227 M
EV / Sales 2019
EV / Sales 2020 1,70x
Nbr of Employees 12 000
Free-Float 68,6%
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Technical analysis trends COCA-COLA AMATIL LIMITED
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Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 13
Average target price 9,25 AUD
Last Close Price 8,76 AUD
Spread / Highest target 14,2%
Spread / Average Target 5,65%
Spread / Lowest Target -13,2%
EPS Revisions
Managers
NameTitle
Alison Mary Watkins Group Managing Director & Executive Director
Ilana Rachel Atlas Chairman
Paul Cooke CFO, General Manager-Financial Planning & Control
Debbie Nova Chief Information Officer
Krishnakumar Thirumalai Non-Executive Director
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