Coca-Cola’s net revenue rose by 6% organically to $12.5bn, in line with market forecasts. Growth was driven largely by higher average prices, while increased volumes contributed 1 percentage point to the uplift, helped by strong Coke Zero growth.
Underlying operating profits grew by 15% to $4.0bn ignoring exchange rate impacts, slightly ahead of market forecasts. The beat was driven by a tight grip on sales and admin costs.
Free cash flow rose from $1.6bn to $2.4bn, due to the uplift in profits. Net debt was $33.5bn at quarter-end.
Full-year guidance has been reiterated, with net revenue expected to grow organically by 5-6%.
Since the period-end, the group has agreed to sell around 42% of its 67% stake in Coca-Cola Beverages Africa, the largest Coca-Cola bottler in Africa, for around $1.4bn. The deal is expected to complete by the end of 2026.
The shares rose 2.9% in pre-market trading.
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Coca-Cola key facts
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