Coca-Cola Beverage Inc. made a statement to the Public Disclosure Platform (KAP) containing future evaluations.
Expecting exchange rate-adjusted net sales revenue growth in the high 40s and low 50s at the beginning of 2023, Coca-Cola’s Turkiye sales volume decreased by 5.1% on an annual basis.
International sales volume, covering Pakistan, Uzbekistan, Kazakhstan and Iraq, decreased by 1.1% compared to the previous year. While the sales volume of the carbonated beverage category decreased by 3.3% on an annual basis, sales of still beverages increased by 6.2%.
Coca-Cola announced its expectations for 2024 with the following statements:
“In 2023, we faced various challenges in our operating environment, some of which were already included in our business plans, and some of which were more serious than expected. As we previously reported and detailed in our 2023 year-end volume announcement, the devastating earthquake in Turkiye and macroeconomic challenges in Pakistan led to lower-than-expected volumes throughout the year.
However, we remained committed to creating value and worked diligently to increase per capita consumption across our geographies through effective Revenue Growth Management actions and strong marketing initiatives.
Looking ahead to 2024, we will continue to benefit from our diversified brand portfolio, execution capabilities and expertise operating in emerging markets.”
OUR INFLATION EXPECTATION: IT WILL EASE BUT WILL BE STILL HIGH
“While we expect inflation to ease somewhat in Turkiye and Pakistan but will still remain high, we will continue to deliver a Quality Growth Algorithm – growing net sales revenues above volume growth and operating profits above revenues – through our dynamic pricing and effective product/channel/category mix management initiatives, as well as our proactive purchasing capabilities.”
TWO NEW FACTORIES IN UZBEKISTAN AND KAZAKHSTAN
“In 2024, we hope to launch two new factories in Uzbekistan and Kazakhstan, in addition to new line additions and digitalization of various operations. “
SINGLE DIGIT GROWTH THIS YEAR
The company expects mid-single-digit growth on a consolidated basis in 2024, both in Turkiye and in international operations, and targets exchange rate-adjusted net sales revenue growth in the low 40s.
Source: Patronlardunyasi / Prepared by Irem Yildiz