|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||2,671.00 - 2,733.00|
|52 Week Range||2,224.00 - 3,094.00|
|Beta (3Y Monthly)||0.51|
|PE Ratio (TTM)||18.95|
|Earnings Date||Aug 9, 2019 - Aug 10, 2019|
|Forward Dividend & Yield||0.52 (1.93%)|
|1y Target Est||27.82|
HBC, which produces Coca-Cola drinks under franchise for 28 mostly European markets and is one of the world's biggest soft-drinks bottlers, reported a 4.9% dip in operating profit to 288.9 million euros ($323.9 million), missing a company supplied average estimate of 319.8 million euros. The company, which bought Serbian confectionary firm Bambi in June, also reported acquisition-related costs. "We are pleased with this solid first half given the challenging combination of tough comparators and unseasonably cold and wet weather," Chief Executive Officer Zoran Bogdanovic said.
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Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Coca-Cola HBC Finance B.V. Milan, July 23, 2019 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Coca-Cola HBC Finance B.V. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
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The U.S. beverage giant had wanted to refranchise the unit as part of its global plan to divest its manufacturing and distribution assets to focus on main beverage business and boost margins. "While we remain committed to the refranchising process, we believe it's in the best interests of all involved for Coca-Cola to continue to hold and operate CCBA," Coca-Cola said in a statement.
Moody's Investors Service ("Moody's") has today affirmed the Baa1 senior unsecured rating of Coca-Cola HBC Finance B.V.'s, a fully owned subsidiary of Coca-Cola HBC AG ("CCH" or "the company"). Concurrently, Moody's has affirmed the company's Prime-2 (P-2) short-term rating and the (P)Baa1 senior unsecured rating on its euro medium term note (EMTN) programme.
The company, which sells Coca-Cola drinks in 28 countries mostly in Europe, said net sales revenue rose 4.4 percent to 1.41 billion euros (£1.2 billion) in the quarter. Its emerging markets segment saw net sales revenue rising 6.4 percent to 612.9 million euros, boosted by growth in Nigeria and expansion in Russia, Romania and Ukraine. The general business model of U.S. soft drinks giant Coca-Cola is to sell syrup to a network of franchise partners who do the heavy lifting of bottling and delivering the drinks.
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Coca-Cola HBC AG's (LON:CCH) announced its latest earnings update in December 2018, which revealed that the business benefited from a small tailwind...
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The Swiss-based company, which bottles and sells Coca-Cola Co drinks in 28 countries, said Bambi had revenue of around 80 million euros in 2018, of which more than two thirds were earned in Serbia and the rest in the Western Balkans. It said the company had "strong" profitability and a margin on earnings before interest and taxation that was nearly three times higher that of Coca-Cola HBC. The deal to buy Bambi is expected to close in the second quarter of 2019, Coca-Cola HBC said.
The FTSE 100 added 0.1 percent, outperforming its U.S. and European peers, though the FTSE 250 was down 0.4 percent as ConvaTec tanked after reporting what its CEO called "disappointing results". Investors also kept an eye on the ongoing parliamentary turmoil over Prime Minister Theresa May's Brexit plan. "The fact that there will now be another meaningful vote on Feb. 27 has taken the pressure off today's vote ... but Theresa May's 'my deal or no deal' doesn't look like it will make it into next month," London Capital Group analyst Jasper Lawler said.
A stronger dollar is an added headache for companies like Coca-Cola and PepsiCo Inc that are already wrestling with rising freight and commodity costs even as they spend heavily on non-carbonated drinks to attract health conscious consumers. Coca-Cola, which gets nearly two-thirds of its revenue from international markets, called out Middle East, Argentina and Turkey as being particularly weak and weighing on sales in the first half of 2019. "We want to be prudent in our outlook guidance, given the macro environment," Chief Executive Officer James Quincey said on a post-earnings call.
The company - which bottles and sells Coca-Cola Co drinks in 28 countries, mostly in Europe - said costs related to refinancing an €800-million (£703 million) bond, which matures in June 2020, may double this year and cross currency fluctuations would hurt its core profit by 50 million euros. It said this is likely to crimp consumer spending in its "established" and "developing" markets segments, which together comprised 48 percent of its volumes last year. Credit Suisse analysts, for example, lowered their earnings estimates for 2019 to 2021 by 3 percent, due to the higher financing costs.