Coca-Cola HBC FY23 Profit Climbs, Lifts Dividend; Sees Organic Growth In FY24

(RTTNews) - Coca-Cola HBC AG (CCH.L, CCHGY) reported Wednesday that its fscal 2023 net profit attributable to owners of the parent climbed 53.2 percent to 636.5 million euros from last year's 415.4 million euros.

Basic earnings per share were 1.730 euros, up 52.6 percent from 1.134 euros last year.

Comparable net profit was 764.2 million euros, compared to 624.9 million euros a year ago. Comparable earnings per share were 2.078 euros, compared to 1.706 euros a year ago.

Net sales revenue grew 10.7 percent to 10.18 billion euros from last year's 9.20 billion euros. Sales grew 16.9 percent organically.

Net sales revenue per unit case were 3.59 euros, up 5.9 percent on a reported basis and up 15 percent organically.

Volume grew 4.6 percent to 2.84 billion unit cases from last year's 2.71 billion unit cases. Organic volume growth was 1.7 percent, led by strategic priority categories.

The company recorded double-digit organic revenue and EBIT growth across all segments.

In the fourth quarter, organic volume growth was 6.8 percent with improving trends in all three reporting segments.

Further, the Board of Directors would propose an ordinary dividend of 0.93 euro per share, up 19.2 percent year on year and representing a 45 percent payout.

Looking ahead for fiscal 2024, Coca-Cola HBC projects organic revenue growth at a Group level in 6-7 percent medium-term target range, and organic EBIT growth in the range of 3 percent to 9 percent.

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