Coca-Cola İçecek (CCI) announced its financial results for 2023. CCI announced that although there was a 2023% decrease in consolidated sales volume in 2,6 compared to last year, they did not slow down in investment and invested a total of 6,1 billion TL in their operational geography. CCI's 2023 net sales revenue increased by 8,4% on an organic basis, and its net profit for the period increased by 48,3%. CCI's year-end operating profit (EBIT) increased by 26,2% and reached 14,5 billion TL.
EFFECTIVE PORTFOLIO USE BROUGHT GROWTH IN THE ZORLU ECONOMY
In his evaluation of the 2023 year-end financial results, Coca-Cola İçecek CEO Karim Yahi said, “In 2023, we encountered difficulties in our operations due to natural disasters, economic difficulties and political unrest in neighboring countries. These problems affected our business by affecting consumers' spending appetite. Therefore, our sales volume decreased by 2,6% on a consolidated basis, lower than our expectation we shared at the beginning of the year. "This weakness was compensated by our effective revenue growth management strategy, which included dynamic pricing and promotion optimization as well as effective portfolio utilization actions."
INVESTMENT OF 6,1 BILLION TL WITHOUT COMPROMISING THE INVESTMENT STRATEGY BEFORE THE DEMAND
Karim Yahi stated that despite the contraction in sales volume, they did not give up on their investment strategy before the demand and continued their investments intensively. “Our total investment expenditure reached 2023 billion TL in 33, 6,1% of which was for Turkey operations. The ratio of investment expenditure to sales was 2023% in 6,1. Our investments will continue in 2024, especially in two new factories in Shymkent, Kazakhstan, and Samarkand, Uzbekistan. In 2024, we will lay the foundations of our Ismayıllı factories in Azerbaijan, Baghdad in Iraq and Namangan in Uzbekistan. The strength of our business model and our focus on quality growth algorithm; "We continue to create value in the countries we operate in," he said.
WE PROVIDE SERVICE TO A POPULATION OF 600 MILLION WITH THE BANGLADESH PURCHASE
Karim Yahi stated that they have recently completed the acquisition of Coca-Cola Bangladesh Beverages Limited, which they have been working on throughout 2023: “The acquisition of Coca-Cola Bangladesh Beverages Limited is an important milestone for us. We have become the 600rd largest bottler in the Coca-Cola system, reaching 3 million people in Turkey from Çorlu to the Chinese border. We provide service at approximately 31 million sales points with our 3 bottling factories, 10 fruit processing facilities, and more than 1,2 thousand employees. "Bangladesh has a bright future ahead of it and we look forward to using our talents to create growth and value in Bangladesh," he said.
