Earnings Release - Coca Cola İçecek

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NEWSRELEASE
International Operations
Sales Volume (mn uc)
64.9
43.7
4Q11
4Q12
Sales Revenue (USD mn)
173.2
120.9
Fourth Quarter: International operations volume increased by 48.3%
over 4Q11. All key markets posted double digit volume growth thanks to
New Year campaigns, expanded route to market initiatives and
promotion activities. First time consolidation of S.Iraq also contributed
to this growth. Like-for-like growth of international operations was
20.9% in 4Q12.
Net sales revenue increased by 43.3% to US$ 173 million, whereas net
sales per unit case decreased by 3.4% to US$ 2.67 mainly due to first
time consolidation of S.Iraq operations.
Cost of sales increased by 33.4%, lower than revenue growth on the
back of favorable raw material costs in all key markets. Despite the
contraction of net revenue per case, gross profit margin was up by
5.3pp to 28.4%.
Excluding net other operating items, operating expenses as a
percentage of net revenues increased by 4.2pp. Absolute EBIT almost
quadrupled and EBIT margin improved by 2.6pp to 4.4%.
EBITDA was up by 65.3% to US$22.1 million and EBITDA margin
expanded by 1.7pp to 12.8%.
4Q11
*
1.8%
EBIT (USD mn)
4Q12
4.4%
7.6
2.2
4Q11
* EBIT Margin
4Q12
EBITDA (USD mn)
* 11.1%
12.8%
13.4
22.1
4Q11
* EBITDA Margin
4Q12
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 3386 I Fax: +90 216 365 8457 I CCI-IR@cci.com.tr I www.cci.com.tr I 8