Coca-Cola HBC first quarter sales growth driven by Emerging Markets

Coca-Cola HBC AG on Wednesday said it has made a strong start to the year but expects the macroeconomic and geopolitical environment to remain ‘challenging and unpredictable’.

The Zug, Switzerland-based soft drinks bottler reported organic net revenue growth of 11% in the first quarter of 2025, or 8.7% on a reported basis, with 1.8% volume growth.

Emerging Markets delivered an organic sales rise of 20%, while growth in developing markets was 4.6% and in established markets 2.1%.

In response, shares in Coca-Cola HBC were up 2.4% at 3,844.00 pence each in London on Wednesday.

Sparkling drink volume grew 1.1%, and energy drink volume jumped 26%, but coffee volume dropped 8.3%, reflecting a tough comparative.

Still drink volume grew 2.1% with sports drinks performing strongly, Coca-Cola HBC said.

‘We continued the positive momentum for our business as we report a strong start to the year, in a range of market conditions,’ Chief Executive Zoran Bogdanovic said.

‘We expect the broader macroeconomic and geopolitical environment to remain challenging and unpredictable, but we have a proven track record of navigating through periods of volatility, supported by our portfolio, capabilities and people. We are reiterating our financial guidance for the year ahead and expect to make further progress against our medium-term growth targets.’

For 2025, Coca-Cola HBC expects organic revenue growth of 6% to 8% and organic earnings before interest and tax growth of 7% to 11%. In 2024, it reported revenue of €20.44 billion and Ebit of €2.13 billion.

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