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Disclaimer
Unless otherwise indicated, the condensed consolidated financial statements and the financial and operating data or other information
included herein relate to Coca-Cola HBC AG and its subsidiaries (“Coca-Cola HBC” or the “Company” or “we” or the “Group”).
This document contains forward-looking statements that involve risks and uncertainties. These statements may generally, but not always,
be identified by the use of words such as “believe”, “outlook”, “guidance”, “intend”, “expect”, “anticipate”, “plan”, “target” and similar
expressions to identify forward-looking statements. All statements other than statements of historical facts, including, among others,
statements regarding our future financial position and results, our outlook for 2014 and future years, business strategy and the effects of
the global economic slowdown, the impact of the sovereign debt crisis, currency volatility, our recent acquisitions, and restructuring
initiatives on our business and financial condition, our future dealings with The Coca-Cola Company, budgets, projected levels of
consumption and production, projected raw material and other costs, estimates of capital expenditure, free cash flow, effective tax rates
and plans and objectives of management for future operations, are forward-looking statements. You should not place undue reliance on
such forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect our current
expectations and assumptions as to future events and circumstances that may not prove accurate. Our actual results and events could
differ materially from those anticipated in the forward-looking statements for many reasons, including the risks described in the annual
report on Form 20-F filed with the U.S. Securities and Exchange Commission (File No 1-31466) for Coca-Cola Hellenic Bottling Company S.A.
and its subsidiaries for the year ended 31 December 2012.
Although we believe that, as of the date of this document, the expectations reflected in the forward-looking statements are reasonable, we
cannot assure you that our future results, level of activity, performance or achievements will meet these expectations. Moreover, neither
we, nor our directors, employees, advisors nor any other person assumes responsibility for the accuracy and completeness of the forwardlooking statements. After the date of the condensed consolidated financial statements included in this document, unless we are required by
law or the rules of the UK Financial Conduct Authority to update these forward-looking statements, we will not necessarily update any of
these forward-looking statements to conform them either to actual results or to changes in our expectations.
Overview
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Coca-Cola HBC at a glance
€7 billion revenues
2.1 billion unit cases sold
28 countries of operation over
3 continents
Ten consecutive quarters of
currency neutral revenue per
case growth (as at Q4 2013)
50 billion servings per annum
with significant exposure in
emerging markets
585 million population
# 1 in Sparkling Beverages
38,089 employees
growing on average
at c.1% per annum
in 23 out of 24 markets
68 plants in operation and
324 warehouses and distribution
centres
Source: FY2013 data unless otherwise stated; Nielsen market share data
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Key milestones video
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A diverse and balanced portfolio
Emerging markets
Armenia, Belarus, Bosnia and Herzegovina,
Bulgaria, FYROM, Moldova, Montenegro,
Nigeria, Romania, Russia, Serbia, Ukraine
Developing markets
Czech Republic, Croatia, Estonia,
Hungary, Latvia, Lithuania,
Poland, Slovakia, Slovenia
Population: 417 million
GDP/capita: US$ 7,186
Population: 77 million
GDP/capita: US$ 14,854
Established markets
Austria, Cyprus, Greece, Italy,
Northern Ireland, Republic of Ireland,
Switzerland
Population: 91 million
GDP/capita: US$ 36,929
2013 breakdown
Volume unit cases
Net sales revenue
Comparable EBIT
Total
32%
18%
37%
33%
16%
9%
50%
47%
58%
2,061m
€6,874m
€454m
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Financial highlights
6,544
2,928
1,149
2,467
Net sales revenue
Volume
Reported NSR per unit case
by segment
in million unit cases
in Euros
6,762
6,824
2,862
2,835
1,140
1,162
2,760
2,828
2009
2010
2011
Emerging
Developing
7,045
6,874
2,702
2,540
1,148
1,106
3,195
3,229
2012
2013
Established
Gross profit margin
2,069
2,087
2,085
2,061
3.38
3.16
2009
2010
2011
2012
2013
OPEX as a % of revenue
30.4%
40.3%
2,105
30.3%
40.4%
2009
3.23
2010
3.27
2011
10.1%
7.7%
30.0%
6.6%
453
454
2012
2013
28.9%
35.5%
651
687
523
2011
6.4%
29.4%
35.9%
2010
2013
Comparable EBIT and EBIT margin
9.9%
37.7%
2009
2012
3.34
2012
2013
All numbers in million Euros unless otherwise stated
2009
2010
2011
2012
2013
2009
2010
2011
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The opportunity we see
Business growth
Per capita development
Market share growth
Emerging markets exposure
Margin leverage
Revenue growth management
Operational cost control
Infrastructure rationalisation
and logistics optimisation
SAP W2 exploitation and
Shared Services
Revenue-generating capital
expenditure
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Diverse footprint with attractive long-term potential
660
2013 Total sparkling category servings per capita
584
461
416
220
Poland
Serbia &
Montenegro
301
Austria
219
Romania
166
209
France
166
Greece
Per capita consumption: Average number of 237ml or 8oz servings consumed per person per year in a specific market.
Coca-Cola Hellenic’s per capita consumption is calculated by multiplying our unit case volume by 24 and dividing by the population.
Source: The Coca-Cola Company, 2013 data
Mexico
United States
Germany
Belgium
Great Britain
Spain
47
Europe average
(38 countries)
105
142
204
298
93
Nigeria
Emerging
123
134
Italy
201
Russia
Established
Coca- Cola HBC
208
Ukraine
Developing
Egypt
280
Switzerland
353
321
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Driving revenue ahead of volume
Package mix
Single-serve
39%
Channel mix
Multi-serve
61%
Category mix
Energy
drinks,
0.7%
RTD Tea,
4.8%
Immediate consumption
31%
Future consumption
69%
Pricing opportunities
Other still,
0.7%
Juice, 6.0%
Water,
18.5%
Low calorie
sparkling
beverages,
6.2%
Sparkling
beverages,
63.1%
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Strategy
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Deploying initiatives to win in the marketplace
Right Execution
Daily
RED
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Winning in the marketplace
43 % +0.8
18 % +0.8
12 % -2.3
Coca-Cola HBC
share in sparkling
Biggest competitor
share in sparkling
Private label
share in sparkling
18
% +0.8
Coca-Cola HBC
share in NARTD
8
% +0.7
Biggest competitor
share in NARTD
17
% -2.1
Private label
share in NARTD
Source: Nielsen 2013 market share data; company analysis
NARTD: Non-alcoholic ready-to-drink
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Growing revenue ahead of volume
• Delivered currency-neutral net sales revenue
per case growth for 10 consecutive quarters
• Implemented OBPPC architecture to ensure
relevance to the consumer
• Recovering economies expected to present
pricing opportunities
Occasion
Brands
Packages
Prices
Channel
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Common platform and end-to-end standard processes
Common strategy
and values
Sharpening
customer focus
Reducing cost
Leveraging scale and
synergies
Business
Standardization
Sharing
knowledge
Developing talent
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Committing to cost leadership
Infrastructure optimisation
Number of plants
-32%
since 2008 in the Established
and Developing segments
Operational control
OpEx reduction
-190 bps
as % of NSR, since 2008
Number of distribution centres
-9%
since 2008
Number of warehouses
-16%
since 2008
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Generating free cash flow
Working capital
Bolt-on acquisitions
Negative year-end position
of local brands
mainly in still drinks
Capital expenditure
Strong balance sheet
5.5-6.5% of NSR
Net Debt to Comp. EBITDA
at 1.9x
Source: FY2013 data unless otherwise stated
Returning cash
to shareholders
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The Best is Yet to Come!
• We have medium to long-term opportunities
• volume and revenue growth
• improvement in the cost structure
• We are executing well in every area where we have control
• Our current platform is more efficient than in peak margin years and should
ensure that volume growth in the future adds momentum to margin expansion
• The initiatives we have in place, combined with the potential for volume
momentum, give us confidence that the best is yet to come!
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