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MarketScreener Homepage  >  Equities  >  ISTANBUL STOCK EXCHANGE  >  Coca Cola Icecek AS    CCOLA   TRECOLA00011

COCA COLA ICECEK AS

(CCOLA)
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Coca Cola Icecek : 1H17 Sales Volume Announcement

07/13/2017 | 01:24pm EST
VOLUME ANNOUNCEMENT - SECOND QUARTER and FIRST HALF OF 2017

Istanbul, 13 July 2017 - Coca-Cola Icecek (BIST: CCOLA.IS) today announced:

Consolidated Volume

Consolidated sales volume increased by 3.5% in 2Q17, while volume growth for 1H17 was 4.1%. The share of Turkey within total volume remained flat at 50% in 1H17, compared to 1H16.

In 2Q17, Sparkling volume growth was almost flat, as growth in International operations offset the contraction in Turkey. The Stills category (excluding Water) was up by 5.5% in 2Q17, supported by solid growth in International operations. Water category volume was down by 4.7%, reflecting lower volumes in Turkey. In 1H17, the Sparkling category made up 70% of total volume compared to 71% in 1H16.

Volume (mn uc)

2Q17

2Q16

2Q17/2Q16 Δ

1H17

1H16

1H17/1H16 Δ

Consolidated

373

360

3.5%

606

582

4.1%

Turkey

181

176

2.9%

300

292

2.8%

International

191

184

4.1%

305

290

5.4%

Turkey Volume

Turkey operations delivered 2.9% volume growth in 2Q17, while sales volume grew by 2.8% in 1H17, led by strong

Ice Tea and NRTD tea growth.

Our commercial initiatives to drive revenue growth are delivering results in Turkey. Despite the volume contraction in the Sparkling category, the number of transactions grew by 3% in 2Q17, driven by immediate consumption (IC) packages. Sparkling volume was up by 7.1% in 1Q17 mainly driven by FC packages before the price increases at the end of March. Nevertheless, the category volume slightly declined by 0.8% in 1H17 due to 5% contraction in 2Q17, which was mainly attributable to lower volumes in future consumption (FC) packages and lower than average temperatures in most of the quarter.

Stills category volume increased by 2.8% in 2Q17, supported by 18.7% growth in Ice Tea, while Water and Juice categories contracted. IC packages outperformed FC packages in the Water category, in line with our strategy to improve the overall profitability of our Water business. Despite the contraction in the overall Juice category in 2Q17, higher margin products within this category posted double digit growth. In 1H17, the Stills category contracted by 5.1%, reflecting lower Water and Juice volumes. The non-ready-to-drink (NRTD) Tea category posted 52.3% and 39.3% volume growth in 2Q17 and 1H17, respectively. The high growth in NRTD Tea was mainly due to listing in one of the top discounters.

We anticipate seeing the positive impact of efficient discount management, strong pricing and favorable packaging mix on net revenue per case in 2Q17 and onwards. In addition, the lower base of 2H16 and improving tourism activity in 2017 is expected to support 2H17 volumes.

International Volume

International operations delivered 4.1% volume growth in 2Q17, mainly driven by Pakistan and Central Asia operations.

Following 9.4% growth in 1Q17, Pakistan's volume growth was 3.7% in 2Q17, cycling 28.1% growth in 2Q16. A supportive macro-economic environment, coupled with successful consumer activities contributed to overall volume growth of 5.6% in 1H17, cycling 22.6% growth in 1H16. Coca-Cola posted 11.5% growth in 1H17, driven by increasing availability and improved market execution. While focusing on discount management and disciplined productivity initiatives, we continue to target sustainable top line growth in Pakistan.

Central Asia operations continued to recover, posting 6.0% and 6.6% volume growth in 2Q17 and in 1H17, respectively. Growth was fueled by effective consumer promotions, strengthened market execution and the rollout of the One Brand Strategy. Kazakhstan, CCI's largest market in the region, delivered 16.6% volume growth in 2Q17, reflecting an improving trend. In Azerbaijan, volume grew by 21.8%, cycling the low base of 2Q16, while all categories posted solid growth.

Across the Middle East, sales volume grew by 2.2% in 2Q17, bringing the 1H17 growth to 2.9%. Iraq operations posted 2.2% growth on a consolidated basis, mainly driven by the 16.6% growth in North Iraq, more than offsetting the 5.9% decline in South Iraq volumes. Jordan operations posted 2.1% volume growth in 2Q17.

Enquiries

Investor Contact:

Dr. Deniz Can Yücel

Head of Investor Relations

Tel:+90 216 528 3386

email: deniz.yucel@cci.com.tr

Nebahat Rodoplu

Investor Relations Executive

Tel:+90 216 528 3392

email: nebahat.rodoplu@cci.com.tr

Özge Taşkeli

Investor Relations Executive

Tel:+90 216 528 4382

email: ozge.taskeli@cci.com.tr

Company Profile

CCI is the fifth-largest bottler in the Coca-Cola System in terms of sales volume. CCI produces, distributes and sells sparkling and still beverages of The Coca-Cola Company (TCCC) across Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq, Syria and Tajikistan.

CCI employs close to 10,000 people and has a total of 25 plants, offering a wide range of beverages to a consumer base of 380 million people. In addition to sparkling beverages, the product portfolio includes juices, waters, sports and energy drinks, teas and iced teas.

CCI's shares are traded on Borsa Istanbul (BIST) under "CCOLA.IS", American depositary receipts (ADR) are traded over the counter in the United States under "COLAY", Eurobond is traded on Irish Stock Exchange under "CCOLAT" tickers

.

Reuters CCOLA.IS Bloomberg CCOLA TI ADR-OTC Eurobond - Irish Stock Exchange COLAY CCOLAT

Coca-Cola Içecek AS published this content on 13 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 July 2017 17:24:08 UTC.


© Publicnow 2017
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Sales 2020 14 218 M 1 919 M 1 919 M
Net income 2020 1 533 M 207 M 207 M
Net Debt 2020 1 387 M 187 M 187 M
P/E ratio 2020 13,8x
Yield 2020 3,43%
Capitalization 20 897 M 2 827 M 2 821 M
EV / Sales 2020 1,57x
EV / Sales 2021 1,30x
Nbr of Employees 8 040
Free-Float 25,6%
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Burak Basarir Chief Executive Officer
Tuncay Özilhan Chairman
Andriy Avramenko Chief Financial Officer
Leyla Deliç Chief Information Officer
Mehmet Cem Kozlu Director
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