With 55 years of presence in Greece, Coca Cola 3E combines its course with the most famous soft drink in the world and has managed to be consistently at the forefront of innovation, investment and sustainable development.
It is a member of the Coca Cola HBC group which maintains the largest capitalization, amounting to 12 billion euros, on the Greek stock market. Coca Cola 3E is the largest domestic bottling company, with a large ecosystem of suppliers and partners while developing a significant social and economic footprint.
In terms of size, the Greek company showed a significant increase of 16.7% in revenue in 2023, amounting to 669.4 million euros, compared to 573.6 million euros in 2022, which was, however, largely inflationary, given that sales volume increased by 6.1% to 119.6 million cases.
During the last financial year, the company’s total borrowing was zero, while total liabilities amounted to 156.2 million euros, compared to 182.4 million euros in 2022, a decrease which mainly came from commercial liabilities. Equity during the year under review strengthened by around 12%, to 219.5 million euros, compared to 195.9 million euros in 2022. Last year’s performance paved the way for the company to “offer” a dividend of 39.4 million euros.
This year’s prospects
After last year’s strong performance in terms of size and especially profitability, Coca Cola 3E looks forward to maintaining similar upward growth rates this year. The course of the first quarter is already in line with expectations, as in addition to the inflationary increase in revenues, an increase in sales volumes has also been recorded, by a low single-digit percentage.
However, an even stronger performance is expected from the second quarter of 2024, given its more aggressive commercial approach across all channels, the claim for a higher share of the tourism turnover, but also the greater “performance” of last year’s moves to strengthen the product portfolio, concerning the beer category, but also the Three Cents brand.
According to the management of the Greek subsidiary: “Our strategic priorities for strengthening our business model remain unchanged. Despite the challenging macroeconomic and commercial environment, the company aims to further increase its net sales.
It continues to invest steadily in the country, as well as in enhancing its relationships with customers and the market. We continue to emphasize rigorous working capital management, as well as plan and invest to strengthen strategic categories and channels while improving our operating efficiency, with a focus on generating net cash flow to create value for our shareholders.”
