Coca-Cola İçecek ends 2025 with balanced growth and strong volume increase
03.03.2026Coca-Cola İçecek (CCI) exceeded its volume growth expectations through disciplined execution with a focus on long-term value creation, despite an operating environment shaped by geopolitical tensions, natural disasters, and complex macroeconomic backdrop in 2025. In line with its invest ahead of demand strategy, the company ended 2025 with total investments amounting to 13.9 billion TL.
Karim Yahi, CEO of CCI, stated, “Through our disciplined execution anchored in long-term value creation, we exceeded expectations in volume growth, delivered our Earnings Before Interest and Taxes guidance, and significantly expand free cash flow year-on-year. After three incredible years at CCI, I have decided to step down from my role as CEO to relocate back to the United States. As indicated in today’s release, our business is strong and I am proud of what we have achieved together with our teams. As of July 1, 2026, Ahmet Kürşad Ertin, currently Chief Operating Officer of CCI, will take over as CEO. Ahmet’s appointment is yet another testimony to the quality of our leaders. With his more than 25 years of experience at CCI, Ahmet will undoubtedly take CCI in the next chapter of growth and value creation.”
March 3, 2026, Istanbul – Coca-Cola İçecek (CCI) released its financial results for 2025. Despite a year marked by geopolitical tensions, natural disasters, and complex macroeconomic backdrop, CCI adopted a deliberately phased approach to balance growth and value creation throughout the year. The company’s consolidated sales volume increased by 8% year-on-year in 2025, reaching 1.6 billion unit cases. International operations recorded double-digit increase, with Central Asia standing out as a key growth engine supported by strong performance across all markets. Overall, the volume of international operations stood at 65.3% in 2025.
Over the past five years, CCI’s net sales revenue increased by 17% in USD terms, underscoring the strength and consistency of our value-accretive growth model. On a full-year basis, NSR/uc, excluding inflation accounting, reached $2.8 in 2025, marking the highest level recorded in the last 10 years. According to consolidated results, net sales revenue increased by 3.9% year-on-year with inflation accounting. In Türkiye, net sales revenue excluding inflation accounting recorded growth of 36.9%.
CEO of CCI, Karim Yahi commented on the 2025 financial results, stating, “Through our disciplined balanced execution anchored in long-term value creation, we exceeded expectations in volume growth. With a balanced execution and phased approach, we delivered a healthy combination of volume growth and value creation. This balanced approach enabled us to deliver consistent and disciplined performance throughout the year.”
Invest ahead of demand
The company’s capital expenditures were aligned with its long-term growth priorities. Highlighting CCI’s continued investments to expand production capacity both domestically and internationally in 2025, Yahi stated, “We inaugurated our second plant in Ismayilli, Azerbaijan, increasing our production capacity in the market by 50%. Our fourth plant in Baghdad, Iraq became operational. In Uzbekistan, we inaugurated our new plant in Namangan, and in Kazakhstan we signed a framework agreement to establish our fourth plant in Aktobe. In Tajikistan, we enhanced our regional production capabilities by inaugurating a second production line at our Dushanbe plant. In 2026, we will continue to advance in line with our investing ahead of demand strategy.”
A balanced outlook is expected in 2026
Sharing his expectations for 2026, Karim Yahi stated, “We anticipate the operating environment to remain volatile, as macroeconomic pressures and regional tensions continue to shape our markets. We will continue to leverage the strengths of our diversified geographic footprint and product portfolio to drive volume growth, while maintaining affordability through disciplined execution, right pricing, optimized mix and effective discount management to create sustainable value.”
About Coca-Cola İçecek (CCI):
Coca-Cola İçecek (CCI) is a Turkish multinational beverage company, part of Türkiye's Anadolu Group, which operates in Türkiye, Pakistan, Kazakhstan, Iraq, Uzbekistan, Bangladesh, Azerbaijan, Kyrgyzstan, Jordan, Tajikistan, Turkmenistan, and Syria. CCI produces, distributes and sells sparkling and still beverages of The Coca-Cola Company and Monster Energy Beverage Corporation along with the production of fruit juice concentrate via its affiliate Anadolu Etap İçecek (Anadolu Etap Penkon Gıda ve İçecek Ürünleri Sanayi ve Ticaret Anonim Şirket).
CCI employs more than 10,000 people, has a total of 36 bottling plants, and 3 fruit processing plants in 12 countries, offering a wide range of beverages to a population base of 600 million people. In addition to sparkling beverages, the product portfolio includes juices, waters, sports and energy drinks, iced teas and coffee.
CCI's shares are traded on the Borsa Istanbul Stock Exchange (BIST) under the symbol "CCOLA.IS".
Editor’s Note:
Based on the CMB's decision, our 2025 financial statements have been reported using TAS 29 (Financial Reporting in High Inflation Economies). As of December 31, 2025, an adjustment has been made in accordance with the requirements of TAS 29 regarding the changes in the general purchasing power of the Turkish Lira.
However, certain items from our financials are also presented without inflation adjustment for information purposes in order to give an idea of our performance relative to our 2025 forecasts, which we announced at the beginning of the year and which we stated were based on the financials without inflation adjustment. All financial figures without such disclosure are reported in accordance with TAS 29.
