Coca-Cola HBC has upgraded its forecast for 2026 after a strong first half of the year saw revenues rise almost 10%.
The bottler, which sells into markets including Northern Ireland and the Republic of Ireland, reported a 7.5% growth in volumes which, alongside some price rises, drove revenue up 9.6% to €6.2bn.
This top line growth helped fuel a 15.2% rise in operating profit to €746.9m.
Coca-Cola HBC’s results come soon after Coca-Cola Europacific Partners and Coca-Cola both reported strong first halves to the year, largely due to a major marketing push for the FIFA World Cup.
Zoran Bogdanovic, CEO of Coca-Cola HBC said FIFA World Cup activations such as unique fan experiences and special-edition Coca-Cola and Powerade packs “were among the highlights of the period.”
The company consequently increased its expected EBIT growth for the full year to between 8% and 10% - up from 7% to 10% previously – and forecast revenue growth will be at the top end of its 6% to 7% range.
“The macroeconomic and geopolitical environment remains challenging and unpredictable, but we are confident that our portfolio, capabilities and people position us to continue to win in the market and create value,” Bogdanovic said.
Energy drinks were the standout performers in the first six months of the year with volumes rising 26%, primarily fuelled by new Monster flavours and local marketing activations.
Sparkling volumes grew by 6.4% with Coca Cola up by “mid-single digits”, Coke Zero seeing “mid-teens growth,” and “triple-digit growth” for Coke Zero sugar Zero Caffeine.
While out-of-home coffee volumes grew 24.5% due to strong growth at both Costa Coffee and Caffè Vergnano, total volumes fell 14.2% as the company increasingly prioritised Costa Coffee’s stores over a grocery presence.
Coca-Cola HBC said it was on track to complete the acquisition of Coca-Cola Beverages Africa during the second half of 2026, with clearance from antitrust authorities received in four out of six jurisdictions to date.
In July, the South African competition commission recommended the deal is approved without conditions.
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