Coca-Cola HBC Upgrades 2023 Earnings Guidance

(RTTNews) - Coca-Cola HBC AG (CCH) said it now expects organic EBIT growth for 2023 of 9-12%. The company previously projected it at the top end of a decline of 3% to an increase of 3% range. The company's mid-term guidance from 2024 onwards is unchanged. Coca-Cola HBC expects average annual organic revenue growth of 6-7% and average annual organic EBIT margin expansion of 20-40 basis points per annum.

Coca-Cola HBC said its performance in June was very good overall. As a result, the company now expects to deliver strong organic EBIT growth in the first half, led by operating leverage from double-digit top line growth, reflecting good improvements to price / mix.

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