Coca-Cola has reported strong revenue growth in its fourth quarter and full-year results, despite facing “many challenges” in 2022.
For the quarter, the FMCG giant saw revenue rise by 7% to £8.3 billion, with 15% organic growth and for the full year, this increased 11% to £35.4 billion with 16% organic growth.
“While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment,” The Coca-Cola Company chairman and CEO, James Quincey said.
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The Coca-Cola Group raised its prices by 11% across the entire year and 12% in the three months to 31 December, however across its European market, volumes declined by 5% for the quarter with strong growth offset by the suspension of business in Russia.
Across the non-acloholic beverage category, the manufacturer gained market share with volumes for sparkling soft drinks having risen by 4% in the quarter, with Coke also growing 4% and Coke Zero up 11%.
Water was up 5% for the year, while coffee saw 11% growth in the quarter and a 13% rise across 2022.
While juice, dairy and plant-based beverages saw a 7% decline in the fourth quarter due to suspended trading in Russia, across the entire year these categories grew by 3%.
Quincey added: “As we begin 2023, we continue to invest in our capabilities and strengthen alignment with our bottling partners to maintain flexibility. We are keeping consumers at the center of our innovation and marketing investments, while also leveraging our expertise in revenue growth management and execution.
“Our growth culture is leading to new approaches, more experimentation, and improved agility to drive growth and value for our stakeholders.”
