“THE Coca-Cola Company’s net revenues declined 16 percent to $7.6 billion for the quarter of 2018, impacted by a 26 percent headwind from refranchising of bottling territories. Organic revenues (non-GAAP) grew 5 percent for the quarter, driven by concentrate sales growth of 4percent and price/mix growth of 1percent.”
In a highlight of its first Quarterly Performance, James Quincey, President and CEO of The Coca-Cola Company, said that while reported net revenues continued to be impacted by refranchising, the company delivered organic revenue (non-GAAP) and volume growth across all geographic operating groups. The company gained value share globally, in addition to seeing improved trends across the beverage industry overall.
“We’re encouraged with our first quarter performance as we continue our evolution as a consumer-centric, total beverage company. We have the right strategies in place and remain confident in our ability to achieve our full year guidance,” he said.
According to him, during the first quarter, the company expanded its portfolio and continued to drive revenue growth. The company’s unit case volume grew 3 percent with acceleration in smaller, immediate consumption packaging as revenue growth management initiatives were successfully executed in the market.
“Total unit case volume grew 3%, with growth across all category clusters and geographic operating groups. Trademark Coca-Cola was the largest contributor, with a clear acceleration in all brands under the trademark,” he said.