On a reported basis, Coca-Cola HBC reported organic revenue growth of 12.6%, sales volume growth of 1.8%, net sales revenue per case up 10.6% and net sales revenue growth of 1.0% for the first quarter of 2024.  

First quarter performance highlights:

Continuous execution of our 24/7 consumer products strategy led to organic revenue growth of 12.6%.

Due to strong performance in emerging and developing markets, there was a 1.8% increase in sales volume on an organic basis. Sales volumes in carbonated soft drinks were flat, while energy drinks and coffee posted strong double-digit growth (+37.3% and +34.3%, respectively)

-Net sales revenue per case increased by 10.6% on an organic basis as a result of effective revenue growth management initiatives over the last twelve months.

On a reported basis, net sales revenue increased by 1.0%, with strong organic growth offsetting the impact of unfavorable foreign exchange translation differences on the group's reference currency results in Nigeria and Egypt.

-Continued improvement in market share by value, following strong performance in 2023, with 120 basis points growth in ready-to-drink non-alcoholic soft drinks and 70 basis points growth in carbonated soft drinks. 

Increase in net sales revenue on an organic basis in all markets, with particularly good performance in emerging markets.

Developed markets: On an organic basis, net sales revenue rose 5.1%, with growth in revenue per box driving the increase. The strong performance in the prior period had an impact on the change in sales volumes.

Developing markets: Net sales revenue grew 12.5% on an organic basis, with encouraging improvement in sales volumes following a challenging 2023.

Emerging markets: Net sales revenue increased by 19.0% on an organic basis, driven by an increase in revenue per box, and also recorded a resilient performance in sales volumes despite the impact of the macroeconomic environment and negative currency movements.

Continued investment in our 24/7 consumer product portfolio and our specialist capabilities.

Due to initiatives for revenue growth management, the personal consumption pack mix in carbonated soft drinks increased by 230 basis points.

Monster Energy Green Zero Sugar was launched in 16 markets, supporting Monster's continued strong growth.

Premium out-of-home outlets were the main factor in coffee's growth.

Finlandia Vodka distribution was expanded to 17 additional markets.

Announced an agreement to acquire BDS Vending in Ireland, strengthening our vending machine capabilities and strategic planning capabilities for our commercial approach through the distribution channel.

Mr. Zoran Bogdanovic, CEO of Coca-Cola HBC AG, commented:

"We made a strong start to the year, making continued progress on our 24/7 consumer products strategy. Net sales revenue increased by 12.6% on an organic basis, driven by our priority strategic categories, namely carbonated soft drinks, energy drinks, and coffee. We are also pleased to announce another quarter of sales volume and market share growth. 

During this period, using data, insights, and analysis, we accelerated investment in our strong 24/7 consumer product portfolio and our niche capabilities, with several new brand launches and targeted initiatives in our markets. In this way, we are ensuring the continued strong execution of our market strategy in close collaboration with our customers. While we recognise the wider macroeconomic conditions, we are confident in our ability to deliver our business outlook for the year and to make further progress against the medium-term growth targets we have set."