Coca-Cola İçecek (CCI) whose main shareholder is Anadolu Group, operates with 26 plants and nearly 8,500 employees across 10 countries including Turkey, Middle East, Central Asia and Pakistan, disclosed its financial results for 2019. CCI’s net sales volume was 1.3 billion unit cases. Its net sales grew by 15% to TRY12.25 billion while its EBITDA increased above its revenues by 19% to TRY2.28 billion.
Burak Başarır, Coca-Cola İçecek CEO, said the challenging macroeconomic conditions in 2019 had also taken their toll on the countries where CCI operated, but their successful market practices and effective use of their product portfolio helped them achieve their quality growth targets for three years in a row. Commenting on the performances of the countries where they operated, Başarır said they had repeated their growth in the sparkling category in their biggest market, Turkey. He emphasized on how they increased their market share in the shrinking sparkling beverages market in CCI’s second largest market, Pakistan, despite the challenging macroeconomic conditions. He added that Kazakhstan and Azerbaijan had made important contributions in the results in Central Asia. And in the Middle East, which continues to face an ongoing security and political turmoil, CCI successfully grew against all odds.
Explaining their plans to continue their quality growth through healthy income growth and disciplined cost savings in 2020, Başarır added: “As we increase the return on invested capital, we will continue to focus on strong balance sheet management and free cash flow. We know that the markets where we continue our operations are exposed to new risks, but we are taking measures to be more effective, efficient and prudent along with our increased immunity to challenging conditions.”