The Coca-Cola Company has reported third quarter and year-to-date 2013 results, with continued global value share gains in total non-alcoholic ready-to-drink (NARTD) beverages.
The Coca-Cola Company reported worldwide volume growth of 2 per cent in Q3, against the backdrop of increasing volatility in several emerging markets. The company’s India business delivered 6 per cent volume growth, while the China business grew 9 per cent in terms of volume, driving sequential improvements for both countries compared to last quarter due to a focus on execution amidst normalised weather. Incidentally, this marks Coca-Cola India’s 29th consecutive quarter of growth, 19 of which are in double digits.
Worldwide brand Coca-Cola saw growth in the quarter across diverse markets, including Thailand (+27 per cent), India (+22 per cent), Russia (+11 per cent), the Philippines (+9 per cent), Germany (+8 per cent), and North America (+2 per cent).
Commenting on the Q3 results, Muhtar Kent, Chairman and Chief Executive Officer, The Coca-Cola Company said, “We delivered sound third quarter results in the confines of an ongoing challenged macroeconomic environment driven by increasing volatility across emerging markets. Our global volume grew 2 per cent in the quarter and we continued to grow worldwide value share in total non-alcoholic ready-to-drink beverages due to the strength of our portfolio, the diversity of our global footprint and an ongoing concerted focus on marketplace execution. While we saw sequential improvement in the business compared to the second quarter, together with our global bottling partners, we remain constructively discontent and resolutely focused on further advancing our growth trajectory.”
Meanwhile, reported net revenues declined 3 per cent in Q3 and 2 per cent year-to-date. Excluding the impact of structural changes, comparable currency neutral net revenues grew 4 per cent in the quarter and 3 per cent year-to-date.
Reported operating income declined 12 per cent in the third quarter and 6 per cent year-to-date. Excluding the impact of structural changes, comparable currency neutral operating income grew 8 per cent in the quarter and 6 per cent year-to-date.