Latest news with #ZoranBogdanovic
Daily Mail
7 days ago
- Business
- Daily Mail
Shares in Coca-Cola bottling firms shattered as tariffs hit and consumer demand loses its fizz
Shares in London-listed firms that bottle Coca-Cola outside of the US plunged on Wednesday as investors weighed the impact of weaker consumer strength as well as trade tariffs. Coca-Cola HBC and Coca-Cola Europacific Partners, which bottle Coca-Cola and other drinks in different regions, have been raising prices to shield margins from elevated costs and lower spending. The pair were the biggest fallers on the FTSE 100 by early afternoon despite solid first half trading updates, as each firm's chief executive acknowledged a challenging backdrop. HBC, which bottles drinks in 29 counties including Italy, Russia and Nigeria, forecast annual organic revenue growth at the top end of its 6 to 8 per cent guidance range but fell short of average market estimates of 8.8 per cent. Its first half volumes were broadly in line with last year, despite 'low-single digit' declines in fizzy drinks and coffee sales, amid 'ongoing headwinds from consumer sensitivity in some markets'. Coca-Cola HBC also said US tariffs imposed on Chinese and European goods are expected to 'drive inflation and slow growth'. Boss Zoran Bogdanovic added: 'We are mindful of what is a challenging and unpredictable macroeconomic and geopolitical environment.' Coca-Cola HBC shares were down 7 per cent to 3,650p by midafternoon. That was despite UBS analysts describing volume growth as 'best in class' and the firm hiking prices to offset prior year foreign exchange devaluations. Meanwhile, Coca-Cola Europacific Partners, which operates in 31 countries in Western Europe, Australia, Asia Pacific and Southeast Asia, guided investors to expect revenue growth of 3 to 4 per cent, down from an earlier forecast of about 4 per cent. The group cited 'uncertainty and volatility from the impact and extent of actual and promised tariff adjustments' among its principal risks, but reiterated full-year profit guidance. Boss Damian Gammel said: 'While the global macroeconomic environment is volatile, we remain resilient. Strong cash generation is supporting record investment in future growth.' Coca-Cola Europacific Partners fell 7 per cent to 6,730p The bottlers have over the past year also faced backlashes from consumers in Indonesia, where CCEP operates, and Egypt, where HBC operates, as consumers shied away from US brands due to Israel's war in Gaza.
Reuters
7 days ago
- Business
- Reuters
Coca-Cola HBC targets upper-end annual revenue growth on steady demand, price hikes
Aug 6 (Reuters) - Bottler Coca-Cola HBC ( opens new tab forecast its annual organic revenue growth to reach the upper-end of its earlier estimated range, encouraged by steady demand in its key emerging markets and pricing actions taken over the recent quarters. The company, which bottles brands including Fanta, Sprite and Monster, has been raising prices in the last few quarters like several other consumer-facing companies to shield its margins from elevated costs amid an inflation-induced slowdown in consumer spending. Coca-Cola HBC said on Wednesday that it now expects 2025 organic revenue growth at the top of its 6%-8% guidance range, though it cautioned against the risks of macroeconomic and geopolitical uncertainties. For the six months ended June 27, the company posted a 9.9% rise in organic revenue, in line with market expectations, according to a company-compiled poll. "We are mindful of what is a challenging and unpredictable macroeconomic and geopolitical environment but given our strong start to the year, we now expect to deliver growth in organic revenue and EBIT at the top end of our guided ranges," CEO Zoran Bogdanovic said in a statement. Emerging markets - spanning Africa, Central and Eastern Europe - delivered a 17.4% increase in organic net sales, the Swiss company said. The results come as global firms continue to navigate shifting trade dynamics, with executives warning that evolving U.S. trade policies are weighing on consumer and business sentiment.
Yahoo
11-03-2025
- Business
- Yahoo
Massive new facility will help address growing global issue: 'A landmark initiative'
The Nigerian sector of Coca-Cola recently announced plans to build a massive plastic collection facility in Apapa, Lagos. The facility, which the company calls "a landmark initiative," will process up to 13,000 metric tons — or 28.6 million pounds — of plastic bottles annually. At the new facility, plastic bottles will be cleaned, processed, and sent to third-party companies for recycling into pellets or yarn for reuse as recycled plastic. "This hub will serve as a critical center for collecting, sorting, and recycling PET plastics, which will significantly reduce plastic pollution in our environment," Lagos Gov. Babajide Sanwo-Olu said in a press release. According to Break Free From Plastic, The Coca-Cola Co. is ranked as the top plastic polluter in the world — a title it has held for six years straight. Coca-Cola said the facility will help support its sustainability goals of using 35% to 40% recycled material in its plastic, glass, and aluminum packaging. Through the facility, the brand also wants to collect and process 70% to 75% of the equivalent number of bottles and cans it brings to market by 2035. "This facility represents a significant milestone in our journey of reducing waste by collecting and recycling our packaging in Nigeria," Zoran Bogdanovic, chief executive officer of Nigerian Bottling Co., Coca‑Cola's bottling partner in Nigeria, said in the press release. "By investing in the hub, we are supporting local communities and creating jobs, as well as demonstrating our commitment to building a more sustainable future in a country that is integral to the success of our business." Every minute, more than 1 million plastic bottles are bought worldwide, according to Beyond Plastics. And all that plastic can cause serious strain on the planet. At least 15 million metric tons of plastic enter the ocean each year. Experts predict that plastic in the ocean will outweigh fish by 2050 unless something changes. Plastic also never truly biodegrades in the environment. It simply turns into smaller and smaller pieces called microplastics, contaminating waterways, soil, air — everything. But discarded plastics aren't the only environmental strain. So is plastic production. The United Nations Environment Programme calls the production of plastic one of the most energy-intensive manufacturing processes in the world. That's because plastic is made from fossil fuels such as crude oil, requiring intense mining, refining, and processing to create a final product. And in each step of the plastic-making process, a massive amount of planet-warming pollution is expelled into our environment. Should the government be able to control how we heat our homes? Definitely Only if it saves money I'm not sure No way Click your choice to see results and speak your mind. In 2022, Coca-Cola pledged to make 25% of its packaging reusable by 2030. But the company quietly removed the promise from its website earlier this year. While Coca-Cola has made some strides toward sustainability, including powering production facilities with solar and supporting plastic cleanup efforts, the company has also made several missteps. The beverage giant recently debuted a commercial made by wasteful generative artificial intelligence, which can have a detrimental impact on the environment. The company also recently told investors it will increase plastic packaging if aluminum prices rise under the Trump administration's new 25% tax on metal imports. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
