Coca-Cola HBC raises earnings forecast for 2022

Coca-Cola HBC AG, a soft drink maker and seller, raised its profit outlook for 2022 on Tuesday, Nov. 8.

Consumers have been forced to cut costs due to soaring inflation. However, packaged food manufacturers are still seeing strong demand for their products despite the overall price hikes. Coca-Cola HBC is one of the company’s subsidiaries. The firm holds local Coca-Cola franchises, operating the beverage business. More than 20% of HBC's stock is owned by the group.

HBC said its organic revenue rose another 19.6% in the third quarter. Therefore, the firm expects a double-digit revenue growth driven by higher production volumes in 2022. HBC's comparable operating profit could be between 860 and 900 million euros this year. Earlier forecasts ranged from 740 to 820 million euros.