Production costs drop for CCHBC
A decline in production costs, including for energy, and rises in the prices of its products, helped bottler Coca-Cola HBC boost its net sales revenue and profitability in the first half of 2023.
Net sales revenue was €5.02 billion, up 19.3% from the same period in 2022, while operating profit (EBIT) more than doubled, to €557.3 million from €275.7 million, although comparable EBIT rose 21.2%, to €560.7 million, it announced Wednesday.
CEO Zoran Bogdanovic warned that raw materials prices are still higher than during 2021 and the rise in the price of sugar, a main ingredient, is a cause for concern. Company managers also worry that continued inflationary pressures and rising interest rates could negatively impact customers’ purchasing power.
Sales volume dropped 1%, mostly due to an 11.2% decline in non-carbonated beverages.
