Coca-Cola HBC AG
Ukraine and Russia conflict update
Zug, Switzerland – 3 March 2022 – Coca-Cola HBC today provides an update in relation to the situation in Ukraine.
The safety of our employees is our highest priority. We remain in constant contact with our people in Ukraine and Russia and are doing everything we can to support them.
We temporarily stopped production at our plant in Kyiv on the 24th of February and evacuated our employees.
With the release of our full year 2021 results announcement on 22nd February, Coca-Cola HBC set guidance for the year in a wide range that considered geopolitical risks, as well as headwinds from commodities and currencies. However, in the last week the situation involving Ukraine and Russia has clearly developed further and faster than anticipated.
It is still too early to quantify the impact that the evolving geopolitical crisis and many governments' developing reactions to it will have on our business or on our full year 2022 results. Given that we generated c. 20% of 2021 volumes and EBIT from both regions, combined with the uncertainty of the duration and economic impact, we no longer believe that it is prudent to provide guidance for our group's current financial year.
We continue to execute well in every area where we have control and will focus on factors that can mitigate the negative headwinds. We are prepared to utilise revenue growth management actions, including pricing, to offset currency depreciation and higher input costs. We are also ready to redeploy marketing spend and capex investment to other markets. Operating expense management is embedded in our business and will continue to be a key element of our plans for the year.
We will update accordingly when we have greater visibility on the impact of the events in the Ukraine and Russia on our business.
Enquiries
Coca‑Cola HBC Group
Investors and Analysts: | |
Joanna Kennedy Investor Relations Director | Tel: +44 7802 427505 joanna.kennedy@cchellenic.com |
Jemima Benstead Investor Relations Manager | Tel: +44 7740 535130 jemima.benstead@cchellenic.com |
Marios Matar Investor Relations Manager | Tel: +30 697 444 3335 marios.matar@cchellenic.com |
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Media: | |
David Hart Group Communication Director | Tel: +41 41 726 0143 david.hart@cchellenic.com |
About Coca‑Cola HBC
Coca-Cola HBC is a growth-focused consumer packaged goods business and strategic bottling partner of The Coca-Cola Company. We create value for all our stakeholders by supporting the socio-economic development of the communities in which we operate and we believe building a more positive environmental impact is integral to our future growth. Together, we and our customers serve 715 million consumers across a broad geographic footprint of 29 countries on three continents. Our portfolio is one of the strongest, broadest and most flexible in the beverage industry, offering consumer-leading beverage brands in the sparkling, juice, water, sport, energy, plant-based, ready-to-drink tea, coffee, adult sparkling and premium spirits categories. These beverages include Coca-Cola, Coca-Cola Zero, Schweppes, Kinley, Costa, Valser, Romerquelle, Fanta, Sprite, Powerade, FuzeTea, Dobry, Cappy, Monster and Adez. We foster an open and inclusive work environment amongst our 36,000 employees and we are ranked among the top sustainability performers in ESG benchmarks such as the Dow Jones Sustainability Indices, CDP, MSCI ESG and FTSE4Good.
Coca-Cola HBC has a premium listing on the London Stock Exchange (LSE:CCH) and is listed on the Athens Exchange (ATHEX:EEE). For more information, please visit https://www.coca-colahellenic.com.