COCA-COLA IÇECEK ANONIM SIRKETI First Half:
FOR GENERAL RELEASE TO THE PUBLIC July 10, 2014517.0
567.8
282.0 297.2
235.0 270.7
1H13 1H14
1H13 1H14
1H13 1H14
Second Quarter:
In the second quarter of 2014 consolidated sales volume increased by 8% to 344 million unit cases up from 319 million unit cases in 2Q13.319.2
344.3
165.9 172.7
153.3 171.6
2Q13 2Q14
2Q13 2Q14
2Q13 2Q14
(1) A calculated measure of volume represented by one case of 24 Servings, which is equivalent of 5.678 liters or 192 American standard fluid ounces.
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 4480 I Fax: +90 216 365 8457 I CCI-IR@cci.com.tr I www.cci.com.tr
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Consolidated Volume Volume Split by Country Volume Split by CategoryPakistan
21.1%
Kazakhstan
8.9%
1H14
Turkey
52.3%
Tea
9.1%
1H14
Still
20.5%
Consolidated sales volume increased by 10% in 1H14 on the back of growth both in Turkey and international operations.
Iraq
9.0%
Others
8.7%
Pakistan
19.9%
Kazakhstan
8.2%
Iraq
8.9%
Others
8.5%
1H13
Turkey
54.5%
Sparkling
70.4%
Sparkling
71.6%
Tea
7.8%
1H13
Still
20.7%
International sales volume accounted for 47.7% of the total volume in 1H14 compared to 45.5% in 1H13 due to high organic growth.
The sparkling category grew by 8%, driven by Coca-Cola, Fanta and Sprite brands.
The still categories excluding water grew by 13% in 1H14 due to the strong growth of juice and iced-tea segments. Water category grew by 7% during the same period.
Turkey sales volume increased by 5.4% to 297 million unit cases in 1H14, cycling 5.1% growth in 1H13. Successful marketing campaigns and higher temperatures compared to the historical averages in the first five months of the year supported volume growth, despite the relatively high base in January-May period and higher number of wet days in June.
The sparkling beverage volume growth was flat in 1H14, while Coca-Cola Zero posted double digit volume growth. Coca-Cola Zero PET 2.5L assisted the sugar free segment growth, whereas the Fanta Lemon PET 1L flavor extension strengthened the Fanta portfolio. The share of IC (immediate consumption) packages in the total sparkling mix continued to improve in the first half.
Still beverages, excluding water, grew at mid-teens in 1H14 on the back of double digit growth both in iced-tea and juice categories. New IC pack introductions of can and tetra
330ml for Cappy Atom and Pet 1L Cappy Pulpy Tangerine contributed to the juice category growth. Fuse tea maintained its high growth thanks to strong growth of market as well as
new package introductions such as Can 250&500 ml and new Peach light flavor extension.
The water category grew at low single digits in 1H14 despite the contraction in HOD (Home and Office Delivery), while IC packages in the category mix increased. The tea business grew by almost 30%, driven by the loose tea segment.
In 2Q14, Turkey sales volume increased by 4.1% to 173 million unit cases, cycling 3.5% growth in 2Q13. The growth came on top of a high base in April and May and in spite of number of more wet days in June.
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 4480 I Fax: +90 216 365 8457 I CCI-IR@cci.com.tr I www.cci.com.tr
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International Volume
International sales volume increased by 15.2% to 271 million unit cases in 1H14, cycling a high base of ca. 20% organic growth in 1H13. Despite the upheaval in Iraq and the devaluation in Kazakhstan, second quarter volume growth in 2014 came in at 12.0%.
Pakistan volume growth in 2Q14 and 1H14 was 13.7% and 16.3%, respectively. Sparkling category continued to grow at double digits in 1H14 on the back of strong Coca-Cola brand. Successful campaigns such as returnable glass bottle 250 ml under-the-cap promotion contributed to the volume growth.
Iraq volume growth in 2Q14 and 1H14 was 7.3% and 10.8%, respectively. Nowruz and Copa Coca-Cola campaign contributed to the volume growth in the first half of the year in spite of the political tension and the unrest in North Iraq, which has started in June. While we continue our operations as usual in the country, lack of authority in the conflicted areas inhibits distribution of our products due to safety reasons.
Central Asia volume growth in 2Q14 and 1H14 was 12.8% and 17.5%, respectively, thanks to double digit volume growth of all countries in the region. The largest operation of the region, Kazakhstan volume growth in 2Q14 and 1H14 was 14.2% and 22.4%, respectively. Despite the sharp devaluation in February and unfavorable weather conditions in the region, both sparkling and iced tea categories posted double digit volume growth in the first half. Successful New Year, Nowruz, and FIFA world cup campaigns supported the volume growth.
CCI is the 6th largest bottler in the Coca-Cola System in terms of sales volume. CCI produces, distributes and sells sparkling and still beverages of The Coca-Cola Company (TCCC) across Turkey, Pakistan, Kazakhstan, Azerbaijan, Kyrgyzstan, Turkmenistan, Jordan, Iraq, Syria and Tajikistan.
CCI employs 11,000 people and has a total of 23 plants, offering a wide range of beverages to a consumer base of close to 370 million people. In addition to sparkling beverages, the product portfolio includes juice, water, sports and energy drinks, tea and iced teas.
CCI's shares are traded on Borsa Istanbul (BIST) under "CCOLA.IS", American depositary receipts (ADR) are traded over the counter in the United States under "COLAY", Eurobond is traded on Irish Stock Exchange under "CCOLAT" tickers.
Deniz Can Yücel
Investor Relations Manager
Tel: +90 216 528 3386 deniz.yucel@cci.com.tr
Orhun Köstem Chief Financial Officer Tel: +90 216 528 4432
orhun.kostem@cci.com.tr
Coca-Cola Icecek Investor Relations I Tel: +90 216 528 4480 I Fax: +90 216 365 8457 I CCI-IR@cci.com.tr I www.cci.com.tr
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