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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Coca-Cola HBC AG    CCH   CH0198251305

COCA-COLA HBC AG

(CCH)
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Coca Cola HBC : European Coke bottler sees signs of recovery after first-half profits slide

08/05/2020 | 02:48am EST
Bottles of Coca-Cola are displayed at a supermarket of Swiss retailer Denne in Glattbrugg

Soft drinks bottler Coca Cola HBC AG on Wednesday posted a drop in first-half profit due to coronavirus-led closures of restaurants, cinemas and other public places, while saying sales had recovered some momentum from April lows as lockdowns eased.

The company, which bottles and sells Coca-Cola Co drinks in 28 countries, said comparable operating profit fell 35.8% to 208.8 million euros ($246.49 million) for the six months ended June 26, beating company-supplied consensus of 191.7 million euros.

HBC said out-of-home volumes - which include sales at hotels, restaurants and cafes - during the initial weeks of lockdowns fell by 70%-90% but improved to declines of 25%-50% in May and June and 10%-40% in July.

The company's out-of-home channel typically accounts for slightly over 40% of its revenue.

The Zug, Switzerland-based company said its retail sales improved since April, when performance was hit by some customer de-stocking.

HBC said it expects a negative impact for 2020 due to weaker consumer environment and tourist season, as well as the risk of a second coronavirus wave.

U.S.-based Coca-Cola Co owns a 23.2% stake in Coca-Cola HBC, according to Refinitiv data.

($1 = 0.8471 euros)

(Corrects to "beating" consensus not "missing" in second paragraph)

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Ramakrishnan M.)


© Reuters 2020
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Financials
Sales 2020 6 134 M 7 293 M 7 293 M
Net income 2020 389 M 462 M 462 M
Net Debt 2020 1 951 M 2 319 M 2 319 M
P/E ratio 2020 22,5x
Yield 2020 2,01%
Capitalization 9 096 M 10 817 M 10 816 M
EV / Sales 2020 1,80x
EV / Sales 2021 1,63x
Nbr of Employees 28 000
Free-Float 52,1%
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Mean consensus BUY
Number of Analysts 16
Average target price 28,48 €
Last Close Price 24,97 €
Spread / Highest target 30,3%
Spread / Average Target 14,0%
Spread / Lowest Target -5,65%
EPS Revisions
Managers
NameTitle
Zoran Bogdanovic Chief Executive Officer & Executive Director
Anastassis Georgiou David Non-Executive Chairman
Naya Kalogeraki Chief Operating Officer
Michalis Imellos Chief Financial Officer
Anastasios Ioannis Leventis Non-Executive Director
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