Coca-Cola İçecek Continues to Grow in a Challenging Year
In 2015 Coca-Cola İçecek increased its sales volume to 1.15 billion unit cases. Net sales revenue grew by 12% to reach TL 6.7 billion, meanwhile EBITDA increased by 9% to reach TL 1 billion.
Coca-Cola İçecek (CCI), operating in Turkey, Middle East, Central Asia and Pakistan with 25 plants and over 10,000 employees with Anadolu Group as its main shareholder, announced its financial results for 2015. CEO Burak Başarır stated that he is pleased to see CCI grow in a challenging year, highlighting that CCI completed the year with double-digit revenue growth. In 2015 CCI’s net sales was up by 12% reaching TL 6.7 billion, while EBITDA rose by 9% to TL 1 billion.
Emphasizing that the results were achieved under challenging conditions such as economic crisis in Central Asia, ongoing security concerns in Iraq, the tough competitive environment in Pakistan, as well as weak consumer confidence in Turkey, Başarır said: “Nevertheless, we achieved double-digit revenue growth thanks to our successful pricing initiatives and continuous improvement in market execution.”
Stating that Turkey operations showed better performance in the second half of 2015 in line with their expectations Başarır said: “Although consumer confidence remained low throughout most of the year, increase in transactions and successful consumer promotions supported healthy top line growth in our Turkey operations. Effective cost and opex management coupled with price increases enabled us to expand margins.”
Expectations for 2016
Regarding his expectations for 2016 Başarır noted: “We expect all of our markets to grow in 2016 except Central Asia, as oil prices are estimated to remain low for the foreseeable future. In the long run, we believe all of our markets offer us a great potential for growth as they possess many opportunities such as above world average GDP and population growth as well as high rates of young population under 30.