Coca-Cola İçecek (CCI) whose main shareholder is Anadolu Group, operates with 26 factories and nearly 8,500 employees across 10 countries including Turkey, Middle East, Central Asia and Pakistan, disclosed its financials for the first half of 2019. In the second quarter of the year, CCI boosted its earnings before interest, taxes, depreciation and amortization (EBITDA) by %26 and its net sales by %25 to 3,9 billion Turkish liras and sales volume increased by %1,8 year-over-year to 415 million unit cases.
Commenting on their results in the first half of 2019, Coca-Cola İçecek CEO Burak Başarır said: “In the second quarter, we continued our good results despite the macroeconomic and political challenges in our major markets. Strong revenue growth and disciplined cost management helped us maintain our EBITDA margin. Our operations in Turkey sustained their strong growth from the same period of last year, maintaining their momentum. Furthermore, as a part of GCCL*, we also received the ‘All-round Best Customer and Commercial Market Award.’”
Noting that CCI maintained its ranking in the FTSE4GOOD “Emerging Markets Index”, which identifies the high performing companies in the field of environment, community and governance, by the FTSE, an independent organization jointly owned by the London Stock Exchange and Financial Times, Başarır added: “We are pleased to maintain our rank in the FTSE4GOOD Index, which is described as responsible investment index and covers 20 countries. Thanks to our successful market practices, we continued to transform challenges into opportunities and generate value with determination while carrying on with developing projects in this field in line with our sustainability approach of producing more by consuming less.”
Strong performance in the regions
All regions contributed strongly in CCI’s robust performance in the second quarter of the year. Sales performance in Pakistan and the Middle East improved while Central Asia stood out with its double-digit growth.
Noting that they had concluded the first half of the year with double-digit revenue and EBITDA growth as they maintained their focus on quality growth, Burak Başarır added: “In certain international operations, we revised down our sales volume projections due to the challenging market conditions while in parallel with our strong growth and cost saving projects in the soft drink category in Turkey, we maintain our net sales revenue growth and EBITDA margin projections.”