Financials Coca-Cola Hellenic

Equities

Market Closed - London S.E. Other stock markets 11:35:13 2026-02-13 am EST			5-day change	1st Jan Change
4,704.00 ^GBX	-0.38%		+10.37%	+22.44%

Feb. 11	UK Shares Rally Amid Corporate Earnings Spree	MT
Feb. 11	Berenberg Keeps Coca-Cola HBC at Buy on Results Beat, Expected Persistent Growth Track	MT

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	6,132	7,168	9,198	10,184	10,754	11,604	12,403	13,570
Change	-	16.91%	28.32%	10.71%	5.6%	7.9%	6.88%	9.4%
EBITDA ¹	1,071	1,183	1,344	1,488	1,604	1,808	1,976	2,187
Change	-	10.48%	13.58%	10.73%	7.82%	12.68%	9.34%	10.66%
EBIT ¹	672.3	831	929.7	1,084	1,192	1,356	1,480	1,632
Change	-	23.61%	11.88%	16.58%	9.99%	13.77%	9.14%	10.24%
Interest Paid ¹	-70.1	-67.6	-82.7	-48.3	-60.5	-15.89	-32.06	-30.06
Earnings before Tax (EBT) ¹	593.9	734.9	623.6	910.3	1,128	1,305	1,446	1,590
Change	-	23.74%	-15.14%	45.97%	23.92%	15.73%	10.76%	9.97%
Net income ¹	414.9	547.2	415.4	636.5	820.6	940.4	1,059	1,160
Change	-	31.89%	-24.09%	53.23%	28.92%	14.6%	12.59%	9.52%
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	2/10/26	-	-

¹EUR in Million

Estimates

Fiscal Period: December	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	2026 Q1	2026 Q2	2026 Q3	2026 Q4
Net sales ¹	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	2,418	3,202	3,197	2,708	2,766	3,452	3,425	2,852
Change	-	-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%	-4.43%	32.41%	-0.15%	-15.3%	2.14%	24.8%	-0.78%	-16.73%
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charge d'intérêts	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income ¹	145.4	145.4	-	116.6	157	157	76.45	76.45	131.2	-	-	-	-	-	-	-	-	-	-	-	248.8	-	262.2	262.2	269.7	269.7
Change	-	0%	-	-	34.75%	0%	-51.32%	0%	71.68%	-	-	-	-	-	-	-	-	-	-	-	0%	-	-	0%	2.87%	0%
Announcement Date	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	5/6/25	8/6/25	10/21/25	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 S1	2021 S2	2022 S1	2022 S2	2023 S1	2023 S2	2024 S1	2024 S2	2025 S1	2025 S2	2026 S1	2026 S2
Net sales ¹	3,248	3,920	4,210	4,988	5,022	5,162	5,176	5,579	5,620	5,984	6,150	6,271
Change	-	20.71%	7.38%	18.49%	0.66%	2.81%	0.25%	7.79%	0.74%	6.47%	2.77%	1.97%
EBITDA	-	-	-	-	-	722.2	760.6	-	-	-	-	-
Change	-	-	-	-	-	-	5.32%	-	-	-	-	-
EBIT	350.3	480.7	462.5	467.2	560.7	523.1	564.1	628	649.8	-	724.2	762.3
Change	-	37.23%	-3.79%	1.02%	20.01%	-6.71%	7.84%	11.33%	3.47%	-	-	5.27%
Charge d'intérêts ¹	-34.7	-32.9	-42.7	-40	-31.4	-16.9	-46.4	-14.1	-1.3	-14	-	-
Earnings before Tax (EBT)	317.2	417.7	-	389.2	527.6	382.7	521	607	644.6	-	-	-
Change	-	31.68%	-	-	35.56%	-27.46%	36.14%	16.51%	6.19%	-	-	-
Net income	233.1	314.1	-	262.5	385.7	278.8	381.6	439	470.6	-	-	-
Change	-	34.75%	-	-	46.93%	-27.72%	36.87%	15.04%	7.2%	-	-	-
Announcement Date	8/12/21	2/22/22	8/11/22	2/14/23	8/9/23	2/14/24	8/7/24	2/13/25	8/6/25	2/10/26	-	-

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	1,295	854	1,059
Change	-	26.02%	-24.08%	-2.51%	-4.39%	-15.05%	-34.05%	24%
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	2/10/26	-	-

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	725.2	821.3	887.2
Change	-	20.83%	3.34%	16.68%	0.77%	17.84%	13.26%	8.02%
Free Cash Flow (FCF) ¹	542.3	635.7	711.2	776	776.5	661.6	723.8	794.1
Change	-	17.22%	11.88%	9.11%	0.06%	-14.8%	9.4%	9.72%
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%	15.58%	15.93%	16.12%
EBIT Margin (%)	10.96%	11.59%	10.11%	10.64%	11.08%	11.69%	11.93%	12.02%
EBT Margin (%)	9.69%	10.25%	6.78%	8.94%	10.49%	11.25%	11.66%	11.72%
Net margin (%)	6.77%	7.63%	4.52%	6.25%	7.63%	8.1%	8.54%	8.55%
FCF margin (%)	8.84%	8.87%	7.73%	7.62%	7.22%	5.73%	5.84%	5.85%
FCF / Net Income (%)	130.71%	116.17%	171.21%	121.92%	94.63%	68.85%	68.36%	68.48%
Profitability
ROA	5.47%	6.8%	6.8%	7.74%	8.07%	8.81%	8.9%	9.37%
ROE	16.19%	19.05%	19.54%	23.98%	26.32%	27.46%	25.18%	23.53%
Financial Health
Leverage (Debt/EBITDA)	1.6x	1.82x	1.22x	1.07x	0.95x	0.73x	0.43x	0.48x
Debt / Free cash flow	3.15x	3.39x	2.3x	2.06x	1.96x	1.96x	1.18x	1.33x
Capital Intensity
CAPEX / Current Assets (%)	6.84%	7.07%	5.69%	6%	5.72%	6.28%	6.62%	6.54%
CAPEX / EBITDA (%)	39.15%	42.81%	38.96%	41.05%	38.36%	40.78%	41.56%	40.57%
CAPEX / FCF (%)	77.3%	79.68%	73.59%	78.7%	79.25%	109.61%	113.48%	111.72%
Items per share
Cash flow per share ¹	2.642	3.129	3.365	3.77	3.824	4.01	4.457	5.016
Change	-	18.46%	7.53%	12.04%	1.43%	4.86%	11.16%	12.53%
Dividend per Share ¹	0.64	0.71	0.78	0.93	1.03	1.176	1.294	1.42
Change	-	10.94%	9.86%	19.23%	10.75%	14.16%	10.04%	9.78%
Book Value Per Share ¹	7.227	8.533	8.951	8.427	8.807	10.31	12.47	14.78
Change	-	18.06%	4.9%	-5.85%	4.5%	17.04%	20.95%	18.59%
EPS ¹	1.14	1.49	1.13	1.73	2.253	2.589	2.919	3.205
Change	-	30.7%	-24.16%	53.1%	30.23%	14.91%	10.09%	9.78%
Nbr of stocks (in thousands)	364,323	365,892	366,699	366,909	362,162	363,527	363,527	363,527
Announcement Date	2/11/21	2/22/22	2/14/23	2/14/24	2/13/25	2/10/26	-	-