Coca-Cola net revenues grew 7% in Q4 2023

The Coca-Cola Company has announced the fourth quarter and full-year 2023 results. Net revenues grew 7% for the quarter and 6% for the full year; while organic revenues (Non-GAAP) grew 12% for the quarter and 12% for the full year. Global unit case volume grew 2% for Q4 and 2% for the full year 2023.

Financial highlights:

Consolidated:

• For the full year, unit case volume grew 2%. Developing and emerging markets grew 2%, driven by growth in India and Brazil, partially offset by the suspension of business in Russia in 2022.
• Unit case volume grew 2% for the quarter. Developing and emerging markets grew 4%, driven by growth in Brazil and India.

Asia Pacific:

• Unit case volume grew 2% for the quarter in the Asia Pacific region, primarily driven by growth in juice, value-added dairy and plant-based beverages and sparkling flavours, led by India and China.
• For the year, the company gained value share in total NARTD beverages in the Asia Pacific region, led by share gains in India, the Philippines, South Korea, and Japan.

Company Updates:

Building a system that is increasingly positioned for sustainable long-term growth: Our franchise business model has enabled the company to develop a strong global footprint with a local touch in markets around the world. The company continuously works to optimise the system with trusted, capable, and motivated bottling partners allowing it to focus on building and growing consumer-loved brands.

Recently, the company completed the refranchising of a portion of its company-owned bottling operations in India to existing franchise bottlers.