Coca-Cola HBC (CCH) Barclays 19th Annual Global Consumer Conference summary

First half performance and operational highlights

• Achieved strong first half results with 9.6% revenue and 7.5% volume growth, marking the 13th consecutive quarter of volume growth.

• FIFA World Cup initiatives and effective seasonal preparation contributed to performance.

• Maintained focus on revenue growth management, balancing price, mix, and volume despite inflationary pressures.

• Continuous internal feedback and process improvement drive operational excellence.

• Ongoing investments in capabilities, digital, and AI to enhance performance.

Outlook, risks, and market dynamics

• Upgraded full-year guidance after strong H1, but cautious due to fewer trading days in Q4 and external uncertainties.

• Key risks include geopolitical tensions (Ukraine-Russia, Middle East), energy costs, and consumer behavior shifts.

• Consumer affordability remains a focus, with heightened sensitivity in markets like Romania and Bulgaria.

• Strong performance in Hungary, Czech Republic, Ireland, Switzerland, Italy, and Austria.

Cost management and digital transformation

• Top-line growth prioritized to leverage costs, supported by investments in portfolio expansion and marketing.

• Digital and AI-driven micro-segmentation enhance targeted investments and resource allocation.

• Annual productivity initiatives and robust hedging strategies help manage cost pressures.