Coca-Cola HBC AG·Consumer Defensive

Coca-Cola HBC (CCHGY) remains a "Buy", supported by robust volume growth and pricing. CCHGY's existing exposure to emerging markets and the pending Coca-Cola Beverages Africa acquisition underpin a long runway for volume and earnings growth. Despite its P/E ratio re-rating to over 18x, CCHGY trades at a discount to its pre-2021 multiple, while improving profitability also merits a higher valuation.

Coca-Cola HBC (CCHBF) remains a strategic partner of KO, delivering robust 2025 results with 8% revenue and 10% operating profit growth. CCH's strong free cash flow is tempered by aggressive capex focused on expansion, notably outpacing depreciation and amortization. The upcoming €2.4B acquisition of Coca-Cola Beverages Africa is expected to be EPS accretive, with synergy benefits materializing post-2026.

Coca-Cola HBC AG (CCHGY) Q4 2025 Earnings Call Transcript

The bottler said it booked €1.31 billion in pretax profit for 2025, ahead of the €1.13 billion from a year earlier.
Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages worldwide. The company offers sparkling soft drinks, hydration drinks, juices, ready-to-drink tea, energy drinks, coffee, water, plant-based drinks, premium spirits and flavored alcoholic beverages, and snacks. It markets and sells its products under several brands, including Coca-Cola, Fanta, Sprite, Adez, Aquarius, Averna, Amita, Avra, Deep RiverRock, Fruice, Kinley, Schweppes, and various other brands; and distributes third-party products, such as Monster energy drinks, and beer. The company serves retail outlets, including supermarkets, hypermarkets, discounters, convenience stores, wholesalers, hotels, restaurants, cafés, and e-commerce retailers. Coca-Cola HBC AG was founded in 1969 and is headquartered in Steinhausen, Switzerland.
Consumer Defensive
Beverages - Non-Alcoholic
33,000
2010-04-05
0.59
Market Peers





