Carbonated Soft Drinks / Beverage News

The Coca-Cola Co. reports Q3, YTD 2013 results

Company reports 25th consecutive quarter of value share growth

The Coca-Cola Co., Atlanta reported its third-quarter and year-to-date 2013 results, noting continued global value share gains in total non-alcohol ready-to-drink (NARTD) beverages. Worldwide volume grew 2 percent in the quarter and year-to-date, with North American volume up 1 percent in the quarter and year-to-date, the company reports. This marks the 25th consecutive quarter of global value share growth in NARTD beverages, it adds. However, net operating revenue was down 3 percent for the third quarter compared with the prior-year period and 2 percent year-to-date compared with the prior-year period.

Globally, the company experienced volume and value share gains within its sparkling beverages, juice and juice drinks, sports drinks, and RTD tea portfolios. Immediate consumption beverage volume continued to grow, up 2 percent globally in the quarter and year to date, which was driven by focused in-store activation efforts and continued cold drink equipment expansion, the company says.

Worldwide sparking beverage volume growth was up 1 percent in the quarter and 2 percent year-to-date. This growth was led by brand Coca-Cola, which continued its “Share a Coke” marketing campaign in the period and executed promotions encouraging consumers to choose Coke to drink with meals, the company says. Worldwide brand Coca-Cola volume grew 2 percent in both the quarter and year-to-date, and global Sprite volume grew 3 percent in the quarter.

In North America, sparkling beverage volume was even in the quarter with sparkling beverage price/mix growth of 1 percent. Coca-Cola, Diet Coke, Coca-Cola Zero, Sprite and Fanta all showed sequential improvements compared with last quarter, led by brand Coca-Cola, which was up 2 percent in the
quarter. Coca-Cola Zero volume grew 5 percent in the quarter with strong activation around the
launch of Caffeine Free Coca-Cola Zero.

Worldwide still beverage volume grew 3 percent in the quarter, cycling 10 percent growth, with
volume growth across most beverage categories, as well as volume and value share gains in RTD tea, juice and juice drinks, and sports drinks. RTD tea volume grew 5 percent in the quarter; energy drinks volume grew 4 percent in the quarter; and packaged still water volume grew 5 percent in the quarter, led by Dasani and its sustainable packaging and marketing programs.

In North America, still beverage volume grew 5 percent in the quarter, with balanced growth across all categories. The company’s RTD tea portfolio delivered double-digit growth in the quarter, fueled by growth in Gold Peak, Honest Tea and Fuze brands. Volume for its juice and juice drink brands grew 4 percent in the quarter, with the Simply trademark up 7 percent. Volume for its packaged still water portfolio grew 5 percent in the quarter, led by Dasani.

“We delivered sound third-quarter results in the confines of an ongoing challenged macroeconomic environment driven by increasing volatility across emerging markets,” said Muhtar Kent, chairman and chief executive officer, in a statement. “Our global volume grew 2 percent in the quarter, and we continued to grow worldwide value share in total non-alcoholic ready-to-drink beverages due to the strength of our portfolio, the diversity of our global footprint, and an ongoing concerted focus on marketplace execution. While we saw sequential improvement in the business compared to the second quarter, together with our global bottling partners, we remain constructively discontent and resolutely focused on further advancing our growth trajectory.

“While we are certainly not immune to the impact of global macroeconomic events, our 2020 Vision and long-term strategies remain firmly intact,” he continued. “Together with our global bottling partners, we are investing in our brands and our capabilities to further strengthen our system and to drive sustainable growth and value. Importantly, the company remains committed to its long-term performance goals and to delivering shareowner returns by always providing our consumers with the brands and beverages they love.”

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