

Coca-Cola HBC LON: CCH reported volume-led growth and higher profitability in the first half of 2026, prompting the beverage bottler to raise its full-year outlook toward the upper end of its revenue-growth range while maintaining an 8% to 10% organic EBIT growth target.

The Coca-Cola Co. bottler said revenue per case rose and that earnings were boosted by growth in both its sparkling and energy segments.

Switzerland-based bottler Coca-Cola HBC narrowed its annual organic operating profit growth towards the higher side of its forecast range on Wednesday, boosted by strong demand for beverages and a lift from sales linked to the soccer World Cup.

Coca-Cola HBC LON: CCH executives used an investor event in Cairo to outline the company's progress in Egypt since acquiring the local Coca-Cola bottling franchise in 2022, presenting the market as a major growth platform despite inflation, currency devaluation and geopolitical disruption.

The London- and Athens-listed bottler saw 27% volume growth for its energy-drink category, and coffee volumes increased 39% in its out-of-home channel.

Coca-Cola HBC (CCHGY) remains a "Buy", supported by robust volume growth and pricing. CCHGY's existing exposure to emerging markets and the pending Coca-Cola Beverages Africa acquisition underpin a long runway for volume and earnings growth. Despite its P/E ratio re-rating to over 18x, CCHGY trades at a discount to its pre-2021 multiple, while improving profitability also merits a higher valuation.

Coca-Cola HBC (CCHBF) remains a strategic partner of KO, delivering robust 2025 results with 8% revenue and 10% operating profit growth. CCH's strong free cash flow is tempered by aggressive capex focused on expansion, notably outpacing depreciation and amortization. The upcoming €2.4B acquisition of Coca-Cola Beverages Africa is expected to be EPS accretive, with synergy benefits materializing post-2026.

Coca-Cola HBC AG (CCHGY) Q4 2025 Earnings Call Transcript
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