Financials Coca-Cola Hellenic

Equities

Market Closed - London S.E. Other stock markets 11:35:00 2025-05-15 am EDT			5-day change	1st Jan Change
3,874.00 ^GBX	+1.84%		+1.10%	+41.80%

May. 13	UBS raises Entain; HSBC lowers Shell target	AN
May. 08	UBS cuts Hammerson, raises Weir Group	AN

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	6,132	7,168	9,198	10,184	10,754	11,578	12,250	12,940
Change	-	16.91%	28.32%	10.71%	5.6%	7.66%	5.8%	5.63%
EBITDA ¹	1,071	1,183	1,344	1,488	1,604	1,781	1,927	2,070
Change	-	10.48%	13.58%	10.73%	7.82%	11.05%	8.19%	7.39%
EBIT ¹	672.3	831	929.7	1,084	1,192	1,318	1,428	1,539
Change	-	23.61%	11.88%	16.58%	9.99%	10.56%	8.35%	7.77%
Interest Paid ¹	-70.1	-67.6	-82.7	-48.3	-60.5	-51.12	-52.41	-44.25
Earnings before Tax (EBT) ¹	593.9	734.9	623.6	910.3	1,128	1,262	1,381	1,510
Change	-	23.74%	-15.14%	45.97%	23.92%	11.84%	9.46%	9.32%
Net income ¹	414.9	547.2	415.4	636.5	820.6	924	1,007	1,095
Change	-	31.89%	-24.09%	53.23%	28.92%	12.6%	8.97%	8.76%
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4
Net sales ¹	-	1,416	1,829	1,471	1,352	1,896	2,124	1,796	1,771	2,439	2,696	2,293	2,202	2,819	2,798	2,365	2,225	2,950	3,048	2,530	2,355	3,189	3,348	2,813
Change	-	-	29.23%	-19.58%	-8.1%	40.21%	12.05%	-15.45%	-1.42%	37.75%	10.52%	-14.95%	-3.94%	27.99%	-0.75%	-15.48%	-5.89%	32.57%	3.31%	-16.98%	-6.94%	35.41%	4.99%	-15.98%
EBITDA	-	195.2	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	62	62	145.4	145.4	-	116.6	157	157	76.45	76.45	131.2	-	-	-	-	-	-	-	-	-	224.4	224.4	244.1	244.1
Change	-	0%	134.6%	0%	-	-	34.75%	0%	-51.32%	0%	71.68%	-	-	-	-	-	-	-	-	-	-	0%	8.78%	0%
Announcement Date	8/12/21	8/5/20	11/11/20	2/11/21	5/12/21	8/12/21	11/3/21	2/22/22	5/12/22	8/11/22	11/8/22	2/14/23	5/9/23	8/9/23	11/14/23	2/14/24	5/7/24	8/7/24	10/31/24	2/13/25	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2
Net sales ¹	3,301	3,248	3,920	4,210	4,988	5,022	5,162	5,176	5,579	5,565	6,120
Change	-	-1.6%	20.71%	7.38%	18.49%	0.66%	2.81%	0.25%	7.79%	-0.25%	9.98%
EBITDA	-	-	-	-	-	-	722.2	760.6	-	-	-
Change	-	-	-	-	-	-	-	5.32%	-	-	-
EBIT ¹	463.5	350.3	480.7	462.5	467.2	560.7	523.1	564.1	628	642	696
Change	-	-24.42%	37.23%	-3.79%	1.02%	20.01%	-6.71%	7.84%	11.33%	2.23%	8.41%
Charge d'intérêts	-33.9	-34.7	-32.9	-42.7	-40	-31.4	-16.9	-46.4	-14.1	-	-
Earnings before Tax (EBT)	426.7	317.2	417.7	-	389.2	527.6	382.7	521	607	-	-
Change	-	-25.66%	31.68%	-	-	35.56%	-27.46%	36.14%	16.51%	-	-
Net income	290.9	233.1	314.1	-	262.5	385.7	278.8	381.6	439	-	-
Change	-	-19.87%	34.75%	-	-	46.93%	-27.72%	36.87%	15.04%	-	-
Announcement Date	2/11/21	8/12/21	2/22/22	8/11/22	2/14/23	8/9/23	2/14/24	8/7/24	2/13/25	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	1,710	2,155	1,636	1,595	1,525	1,396	1,192	968
Change	-	26.02%	-24.08%	-2.51%	-4.39%	-8.43%	-14.61%	-18.79%
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	419.2	506.5	523.4	610.7	615.4	744.9	787.8	837.7
Change	-	20.83%	3.34%	16.68%	0.77%	21.05%	5.76%	6.33%
Free Cash Flow (FCF) ¹	542.3	635.7	711.2	776	776.5	638.4	686.7	753.2
Change	-	17.22%	11.88%	9.11%	0.06%	-17.79%	7.56%	9.69%
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	17.46%	16.5%	14.61%	14.61%	14.92%	15.39%	15.73%	15.99%
EBIT Margin (%)	10.96%	11.59%	10.11%	10.64%	11.08%	11.38%	11.66%	11.89%
EBT Margin (%)	9.69%	10.25%	6.78%	8.94%	10.49%	10.9%	11.27%	11.67%
Net margin (%)	6.77%	7.63%	4.52%	6.25%	7.63%	7.98%	8.22%	8.46%
FCF margin (%)	8.84%	8.87%	7.73%	7.62%	7.22%	5.51%	5.61%	5.82%
FCF / Net Income (%)	130.71%	116.17%	171.21%	121.92%	94.63%	69.09%	68.2%	68.79%
Profitability
ROA	5.47%	6.8%	6.8%	7.74%	8.07%	8.46%	8.82%	9.44%
ROE	16.19%	19.05%	19.54%	23.98%	26.32%	26.63%	25.19%	23.98%
Financial Health
Leverage (Debt/EBITDA)	1.6x	1.82x	1.22x	1.07x	0.95x	0.78x	0.62x	0.47x
Debt / Free cash flow	3.15x	3.39x	2.3x	2.06x	1.96x	2.19x	1.74x	1.29x
Capital Intensity
CAPEX / Current Assets (%)	6.84%	7.07%	5.69%	6%	5.72%	6.43%	6.43%	6.47%
CAPEX / EBITDA (%)	39.15%	42.81%	38.96%	41.05%	38.36%	41.82%	40.88%	40.48%
CAPEX / FCF (%)	77.3%	79.68%	73.59%	78.7%	79.25%	116.69%	114.73%	111.22%
Items per share
Cash flow per share ¹	2.642	3.129	3.365	3.77	3.824	4.036	4.416	4.788
Change	-	18.46%	7.53%	12.04%	1.43%	5.54%	9.41%	8.45%
Dividend per Share ¹	0.64	0.71	0.78	0.93	1.03	1.161	1.28	1.402
Change	-	10.94%	9.86%	19.23%	10.75%	12.73%	10.23%	9.56%
Book Value Per Share ¹	7.227	8.533	8.951	8.427	8.807	10.2	12.01	13.98
Change	-	18.06%	4.9%	-5.85%	4.5%	15.81%	17.79%	16.36%
EPS ¹	1.14	1.49	1.13	1.73	2.253	2.561	2.818	3.091
Change	-	30.7%	-24.16%	53.1%	30.23%	13.67%	10.05%	9.67%
Nbr of stocks (in thousands)	364,323	365,892	366,699	366,909	362,162	363,430	363,430	363,430
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	-	-	-