The Company grew volume and value share in global core sparkling beverages for the full year and in the quarter. Worldwide brand
The press release issued this morning has more facts and figures about fourth quarter and full-year 2012 results. Chairman and CEO Muhtar Kent noted “The
Check back later today for more updates from our quarterly call with investors. In the meantime, you can listen live beginning at 9:30 a.m. ET on
This morning The
Following the release of our earnings press release this morning, our Chairman and CEO Muhtar Kent and CFO Gary Fayard conducted a call with financial analysts. Below are some highlights of what was said. If you missed listening to the webcast discussing today’s earnings, you can listen to a replay online. We’ll also have a transcript of the call available at the same link shortly.
Muhtar Kent on North America business:
“Our business in North America delivered its 11th consecutive quarter of growth, up 1% for the quarter and 2% for the full year. As a result, our North America business achieved its best ever full year volume sales results. In addition, we sustained 2% positive price/mix in 2012, resulting in our North America beverage business generating 6% full year comparable, currency neutral net revenue growth. Importantly, we achieved this growth while also realizing full-year volume and value share gains in non-alcoholic ready-to-drink beverages.
In fact, since we initiated our 2020 Vision back at the end of 2009, our U.S. business has seen consumer dollar spend across measured channels increase from approximately $56 to $60 dollars per person in 2012. This represents over $1.5 billion dollars of value created by our brand portfolio in these measured channels alone.
I am personally very pleased with our ability to deliver quality results as well as to consistently create real value across our entire North America business.”
Gary Fayard, Chief Financial Officer on 2013 financial priorities:
“As we move into 2013, our global bottler system is healthier than ever and our financial priorities remain clear. We will invest in our core business, with plans to spend around $3 billion in capital expenditures in 2013. We will strategically invest with our global bottling system to increase our share position across key growth categories. We will pay a healthy dividend. And, as previously announced, we will repurchase shares, between $3.0 to $3.5 billion in 2013. Our System is committed to investing together for a better tomorrow and our proven ability to achieve consistent quality results provides us with the confidence that we will continue to successfully execute our growth strategies with precision, in line with our 2020 Vision.”
Muhtar Kent on Coke’s progress on the 2020 Vision:
“Importantly, we met our long-term volume, revenue and profit targets for the full year, an accomplishment we are proud of meeting or exceeding every year since we announced our 2020 Vision. In fact, since the first quarter of 2010 and the start of our 2020 Vision, during one of the most difficult macro-environments in recent history, we have firstly, grown our daily servings by more than 200 million, serving more consumers daily on a global basis than at any other time in our history; secondly, increased our global volume and value share of both our core Sparkling and non-alcoholic ready-to-drink beverages to their highest levels since 2003, and thirdly, we added over $30 billion dollars to our Company’s market capitalization. We are well on our way to doubling our system’s revenues by 2020 to $200 billion dollars, reflecting the ongoing commitment of our entire global system to keep investing together for a better tomorrow.”
Petro Kacur is Media Relations Director at The