Core Insights - Coca-Cola HBC reported strong financial performance in 2025, with organic revenue growth of 8.1% and volume growth of 2.8%, marking the fifth consecutive year of growth and market share gains [4][7] - The company plans to acquire Coca-Cola Beverages Africa (CCBA), which is expected to enhance its presence in African markets and be accretive to earnings per share in the first full year post-acquisition [6][15] Financial Performance - Gross profit margin improved by 70 basis points, while operating costs rose by 10 basis points overall [1] - Comparable EBIT rose 11.5% organically to nearly €1.4 billion, with a comparable EBIT margin of 11.7%, a record high for the company [3] - Comparable earnings per share increased by 19.7% to €2.72, and free cash flow totaled €700 million [3][7] Revenue and Volume Growth - Organic revenue per case increased by 5.1%, driven primarily by pricing, with category and package mix also contributing [2] - Energy segment saw a significant volume increase of 28%, surpassing €1 billion in revenue for the first time [5][18] - Emerging markets delivered the strongest growth, with organic revenue increasing by 13.2% and volume rising by 4.4% [11] Market Segmentation - In established markets, organic revenue grew by 2.3%, with sparkling volumes showing slight growth, while still beverages declined [9] - Developing markets experienced a 6.1% organic revenue increase, with notable performance in the Czech Republic [10] - The company highlighted strong performance in Nigeria and Egypt within emerging markets, attributing growth to sustained investments and localized marketing strategies [12] Strategic Initiatives - The company is focusing on portfolio priorities including sparkling, energy, coffee, spirits, and snacks, with sparkling representing about two-thirds of group revenue [17] - Planned investments in sustainability initiatives include expanding deposit return systems and disaster relief efforts [27] 2026 Outlook - Management expects organic revenue growth of 6%–7% and organic EBIT growth of 7%–10% for 2026, despite potential risks from geopolitical factors and commodity inflation [5][22] - The company anticipates a more normalized finance cost environment in 2026, guiding to €25 million–€45 million [24]