Coca-Cola HBC reported a net profit of €381.6 million in the first half of the year, compared to €385.7 million in the same period last year. Comparable net profit was €380.3 million, compared to €388.9 million last year.

Coca-Cola HBC said net sales revenue increased by 13.6% on an organic basis.

• Sales volumes increased on an organic basis by 3.1%, with all strategic priority categories contributing to growth. Carbonated soft drinks grew 0.9%, energy drinks 32.8% and coffee 21.6%. Sales volumes grew 4.2% in the second quarter, with all markets reporting growth.
• Targeted revenue growth management initiatives drove an organic 10.2% increase in net revenue per case.
• On a reported basis, net sales revenue increased 3.1%, with strong organic growth largely offsetting unfavorable currency movements in emerging markets.
• Further growth in market share by value in both the ready-to-drink non-alcoholic soft drinks and carbonated soft drinks categories of 170 and 80 basis points, respectively, in the half year.

Strong operating profit growth of 7.5% on an organic basis, with comparable operating profit of €564.1m.

• Increase in comparable gross margin by 100 basis points, reflecting the reduced rate of inflationary increase in raw material costs.
• Continued investment in the company's business, as well as higher other operating expenses as a result of negative foreign exchange rate movements, resulted in higher operating expenses as a percentage of sales revenue of 130 basis points.
• Maintained a comparable operating profit level, increasing 0.6%, while relative profit margin decreased versus the prior year period on a reported and organic basis by 30 and 60 basis points, respectively.

Mr. Zoran Bogdanovic, CEO of Coca-Cola HBC AG, commented:  "It was a strong first half despite a challenging environment in several of our markets. The focused execution of our initiatives in relation to our 24/7 consumer product portfolio led to a 13.6% increase in sales revenue on an organic basis. Supported by our systematic and targeted investments, we achieved sales volume growth on an organic basis in each of our priority strategic categories - carbonated soft drinks, energy drinks and coffee - and further increased our market share by value in ready-to-drink, non-alcoholic, soft drinks.

I would like to thank our teams, along with our customers, suppliers and partners, for their cooperation and their passion for achieving growth together. I would also like to especially thank The Coca-Cola Company team, with whom we work closely across all our markets, flexibly and quickly, adapting to changing trends in local markets. 

Our teams continue to excellently execute our market action plan, co-creating value with our customers, leveraging our specialized capabilities as well as the strength of our 24/7 consumer product portfolio. While we recognise the macroeconomic and geopolitical challenges and increased uncertainty around the consumer environment, we are upgrading our financial guidance for the year, reflecting our strong first half performance and the expectation that we can continue our positive market performance."