智通财经APP获悉，近日，可口可乐(KO.US)召开FY25二季度财报电话会。二季度，该公司整体出货量 同比下降 1%。有机收入增长 5%，利润率增长强劲。尽管面临汇率和税收方面的不利因素，可比每股 收益仍增长了 4%。自由现金流(不含 Fairlife 或有对价付款)为 39 亿美元，同比增长约 6 亿美元。增长 主要来自于：基本业务表现强劲、税负减少，但部分被去年同期营运资本效益的基数影响所抵消。2025 年业绩指引方面，预期有机营收增长 5% 至 6%，保持不变。 亚太地区，公司二季度整体出货量下降，但仍实现营收增长以及可比口径(不含汇率影响)的营业收入增 长。泰国、印尼和越南的出货量下降，抵消了澳大利亚和菲律宾的增长，整体出货量出现下滑。通过扩 大可续装产品(refillable offerings)的规模、增加门店覆盖率，以及加快冷饮设备铺设等方式积极应对。 在中国，尽管消费者环境依然谨慎，但仍实现了出货量增长，得益于可口可乐商标产品(Trademark Coca-Cola)在餐饮渠道的良好表现。印度，年初表现强劲，但进入关键的夏季销售季后，出货量出现下 滑，主要受到提前到来的季风以及地缘政治冲突的 ...

Core Insights - Coca-Cola reported Q1 2025 revenue of $11.129 billion, with organic revenue growth of 6% and net profit of $3.335 billion, reflecting a 5% increase [1] - The company anticipates a comparable currency-neutral earnings per share growth of 7% to 9% for 2025, with an expected organic revenue growth of 5% to 6% for the year [1] Revenue and Sales Performance - Global unit case volume increased by 2%, driven primarily by markets in India, China, and Brazil, with the Asia-Pacific region showing a 6% increase [1] - In China, marketing activities around different consumption scenarios during the Spring Festival contributed to high single-digit growth in Q1 sales [1] Product Category Performance - Carbonated beverage global sales grew by 2%, with flagship brand Coca-Cola increasing by 1%, mainly driven by growth in Europe, the Middle East, Africa, and the Asia-Pacific region; Diet Coke saw a 14% increase [1] - Flavored sodas also grew by 2%, primarily due to the Asia-Pacific market [1] - Juice drinks, dairy products, and plant-based beverages saw a global sales increase of 1%, again driven by the Asia-Pacific region [1] - Bottled water, sports drinks, coffee, and tea also experienced a global sales growth of 2% [1] Strategic Outlook - The CEO emphasized the effectiveness of the company's "all-weather strategy," highlighting the ability to navigate complex external environments despite pressures in key mature markets [2] - The company remains committed to its core values and consumer engagement, aiming to create long-term value [2]

Core Insights - The company reported a solid Q1 2025 performance with revenue of $11.129 billion, organic revenue growth of 6%, and net income of $3.335 billion, reflecting a 5% increase [1] - Global unit case volume increased by 2%, driven primarily by markets in India, China, and Brazil, with a notable 6% growth in the Asia-Pacific region [1] - The CEO emphasized the effectiveness of the company's "all-weather strategy" in navigating complex external environments, despite facing pressures in key mature markets [2] Financial Performance - Q1 2025 revenue reached $11.129 billion, with organic revenue growth of 6% [1] - Net income for the quarter was $3.335 billion, marking a 5% increase [1] - Earnings per share (non-GAAP) were $0.73, reflecting a 1% growth [1] Market Performance - Global unit case volume grew by 2%, with significant contributions from the Asia-Pacific region [1] - In China, the company achieved high single-digit growth in sales during the first quarter, supported by targeted marketing activities during the Spring Festival [1][2] - The Asia-Pacific market saw a 6% increase in unit case volume, highlighting its importance to overall growth [1] Product Category Performance - Carbonated soft drinks saw a 2% global volume increase, with flagship Coca-Cola brand growing by 1% [1] - The no-sugar Coca-Cola variant experienced a 14% growth [1] - Other beverage categories, including fruit juices, dairy, and plant-based drinks, also saw a 1% increase in global sales, driven by the Asia-Pacific market [1] Strategic Initiatives - The company is focusing on innovation, with the return of the "Share a Coke" campaign aimed at engaging younger consumers [3] - New product packaging innovations, such as the "squeeze bottle" for juice, enhance consumer interaction and experience [3] - Upgrades to production lines, such as the RGB glass bottle production line in Guangxi, are aimed at improving product experience and production efficiency [3]

Core Insights - Coca-Cola reported Q1 2025 revenue of $11.129 billion, with an organic revenue growth of 6% [1] - The net profit for the quarter was $3.335 billion, reflecting a year-over-year increase of 5% [1] - Global unit case volume increased by 2% year-over-year, driven primarily by markets in India, China, and Brazil [1] - The Asia-Pacific market saw a notable unit case volume growth of 6% year-over-year [1] Revenue and Profitability - The company's flagship carbonated beverage, Coca-Cola, experienced a 1% increase in global sales, supported by growth in Europe, the Middle East, Africa, and the Asia-Pacific regions [1] - The no-sugar variant of Coca-Cola saw a significant increase in sales, growing by 14% year-over-year [1] - Other beverage categories, including flavored sodas, juice drinks, dairy, and plant-based beverages, also reported a 1% increase in global sales, primarily driven by the Asia-Pacific market [1] Strategic Outlook - Coca-Cola's CEO, James Quincey, emphasized the effectiveness of the company's "all-weather strategy," which has enabled it to navigate complex external environments despite pressures in key mature markets [1] - The company aims for a comparable currency-neutral earnings per share growth of 7% to 9% year-over-year for 2025, with an organic revenue growth target of 5% to 6% [1] - The expected earnings per share growth (non-GAAP) for 2025 is projected to be between 2% and 3% year-over-year [1] Market Focus - In a conference call, the CEO highlighted the growth in the Chinese market, attributing it to strategic initiatives taken last year, including a focus on core categories and brand upgrades [2] - The Coca-Cola China system has concentrated on enhancing execution capabilities, which has positively impacted sales growth [2]

"本季度的业绩表现再次证明我们的'全天候战略'行之有效。"可口可乐公司董事会主席兼首席执行官詹鲲杰表示，"尽 管在一些关键的成熟市场仍面临一定压力，但我们的全球布局使我们能够成功应对复杂的外部环境。" 詹鲲杰也提到，中国市场的增长，得益于去年采取的一系列举措，包括聚焦核心品类以及部分品牌的升级焕新。同 时，可口可乐中国系统也专注于提升执行能力并取得成效，推动了销量的增长。 据悉，2025年4月，广西太古可口可乐完成RGB玻璃瓶汽水生产线升级改造，升级后的RGB玻璃瓶装汽水已经在广西 区域上市。此次改造项目投资超千万元，升级后的RGB玻璃瓶握持手感更好，容量也从200ML提升至275ML。 （企业公告） 近日，可口可乐公司发布2025年一季度财报。披露公司一季度营收111.29亿美元，有机营收增长6%；净利润为33.35亿 美元，增长5%。 销量方面，全球单箱销量增长2%，主要受印度、中国和巴西市场驱动。其中，亚太市场单箱销量增长了6%。在中国 市场，可口可乐、雪碧、美汁源在春节期间围绕不同消费场景推出营销活动，并加强家外场景的市场执行，推动一季 度销量实现高个位数增长。 分品类看，含气饮料全球销量增长2%，其 ...