Coca-Cola İçecek (CCI), whose majority shares are owned by Anadolu Group, operating in Turkey, the Middle East, Central Asia and Pakistan with 25 plants and close to 9,000 employees, announced its 2017 financial results. CCI's sales volume was up by 4%, reaching 1.24 billion unit cases, while its net sales revenue increased by 21% to ₺8.5 billion and its EBITDA by 26% to ₺1.4 billion. CCI also announced that, ₺200 million dividends will be distributed to shareholders for 2017.
"We are satisfied with our quality growth"
CCI CEO Burak Başarır stated that they were satisfied with the growth momentum achieved in 2017 with all regions contributing to growth and added that they had registered the highest net revenue, EBIT and EBITDA growth of the last five years, while delivering 2017 guidance.
Başarır also commented on the company's Turkey and international operations: "This year we inaugurated our 10th plant in Turkey with the participation of President Recep Tayyip Erdoğan in Isparta. We continue to invest in Turkey with strong confidence. In 2017 we achieved healthy growth in Turkey, registering growth in the sparkling category for the first time after 5 years and increasing the share of small packages. In Pakistan, we continued to grow on top of last year's strong volume increase. We improved our operating profitability through price increases and efficiency measures. In Iraq, volume growth turned positive in 2017, supported by strong sparkling performance and improved market execution. Central Asia regained its growth momentum, with our two largest markets Kazakhstan and Azerbaijan achieving double-digit volume growth, driven by a recovering macroeconomic backdrop.
Despite the challenging operating environment in Turkmenistan, Central Asia’s overall performance was solid, with volume growth in all categories and improving operating profitability.”
Başarır underlined that CCI had strengthened its balance sheet to seize future growth opportunities, especially through its Eurobond issuance resulting in a lower financing cost.
"We will continue to advance towards our 2025 targets"
Başarır stated that in 2018 they would continue to grow in major markets such as Turkey, Pakistan and Kazakhstan. He said: "We will continue to focus on sustainable and quality growth in the coming year. With our disciplined financial approach, strong market positions and proven management team, we will grow our business profitably and continue to advance firmly towards our 2025 targets".