每经记者｜范芊芊 每经编辑｜张海妮 当地时间7月22日，可口可乐发布了2025财年第二季度财报。在本财季，可口可乐的营收为125.35亿美 元，同比增长1%，净利润为38.03亿美元，同比增长58%。 净利润的大幅增长或源于提价和产品组合的调整。根据财报，2025财年第二季度，可口可乐全球销量同 比下滑1%，但价格/产品组合同比增长6%。其中，中国市场销量则实现了增长。在财报会上，可口可乐 公司董事会主席兼首席执行官詹鲲杰表示，中国市场、旗舰品牌可口可乐和餐饮渠道的强劲表现推动了 整体销量增长。 在财报会上，另一备受关注的话题是可口可乐的蔗糖饮品。"今年秋季在美国市场，我们将推出一款使 用美国蔗糖制成的产品，以扩大旗舰品牌可口可乐的范围，满足消费者对差异化口味的需求。"在财报 会上，詹鲲杰这样表态。他还表示："实际上，从柠檬水到茶饮、部分咖啡饮品以及维生素水系列，我 们美国产品线中的多个品牌都在使用蔗糖。我们正在全面探索各类可用的甜味剂方案，根据消费者的偏 好进行灵活调配。" 在财报会上，詹鲲杰还提到了咖啡这一品类。在他看来，在整个饮料行业中，咖啡是一个规模庞大、市 场分散且持续增长的品类。他也坦言，从投资策 ...

Summary of Coca Cola HBC Conference Call Company Overview - Coca Cola HBC is one of the largest global strategic bottling partners of the Coca Cola Company, operating in 29 markets across Europe and Africa, including both established markets like Italy and emerging markets like Nigeria and Egypt [1] Key Strategies and Performance - The company focuses on a "twenty four seven portfolio" that caters to consumer needs throughout the day, from coffee in the morning to non-alcoholic beverages mixed with premium spirits [2] - Coca Cola HBC has a proven track record of delivering results, with a guidance update for organic revenue growth set at 6-7% per year and EBIT margin improvement of 20-40 basis points annually [4] - In Q1, the company reported a 10.6% organic sales growth with a volume growth of 1.8% [4][6] Market Dynamics and Consumer Behavior - The company acknowledges consumer sensitivity to pricing and sentiment, which remains below 2021 levels, impacting revenue growth management strategies [8][13] - Price mix is expected to soften this year, with a more balanced ratio between price, mix, and volume anticipated in the midterm [10][11] - The company is focused on affordability initiatives across all markets to support consumer needs [14] Segment Performance - Coca Cola HBC expects all three segments (emerging, developing, and established markets) to contribute to growth, with emerging markets showing the strongest growth potential [15][16] - In Italy, the company is focusing on lunch occasions, particularly with pizza, and has seen strong performance from its Zero Sugar portfolio [20][22] - In Nigeria, dynamic pricing strategies are being employed to navigate market volatility while maintaining volume growth [25][26] Challenges and Opportunities - The company is facing challenges in Egypt due to high inflation and devaluation, but sees opportunities for growth and share gains as the situation stabilizes [34][36] - The energy category has shown strong growth, with innovations and partnerships contributing to its success [43][44] Digital Insights and Analytics - Coca Cola HBC has invested in digital insights and analytics, which are seen as a competitive advantage, enabling personalized execution and improved planning [56][58] Cash Deployment and Future Outlook - The company has a strong balance sheet with a net debt to EBITDA ratio below one, and is looking for opportunities to scale capabilities within the Coca Cola system [60][61] - Future cash deployment may include acquisitions or special dividends, depending on strategic fit and economic viability [62][63]