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Coca-Cola HBC Ltd (GB:CCH)
LSE:CCH

Coca Cola HBC (CCH) AI Stock Analysis

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GB:CCH

Coca Cola HBC

(LSE:CCH)

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Outperform 78 (OpenAI - 5.2)
Rating:78Outperform
Price Target:
4,343.00p
▲(10.62% Upside)
Coca Cola HBC's strong financial performance, positive technical indicators, and strategic corporate actions contribute to a solid stock score. The company's growth initiatives and market positioning in the non-alcoholic beverage industry are key strengths, while valuation metrics suggest fair pricing. Earnings call insights and corporate events further bolster confidence in its future prospects.
Positive Factors
Revenue Growth
Strong organic revenue growth indicates effective market strategies and product demand, supporting long-term financial stability and expansion.
Market Share Gains
Market share gains in the FMCG sector enhance competitive positioning, ensuring sustained revenue streams and customer loyalty.
Cash Flow Management
Improved cash flow management enhances financial flexibility, enabling strategic investments and resilience against economic fluctuations.
Negative Factors
Challenges in Established Markets
Volume declines in key markets could impact revenue growth and require strategic adjustments to address consumer price sensitivity.
Operational and Marketing Expenses
Increased expenses may pressure profit margins, necessitating efficiency improvements to sustain profitability and competitive edge.
Russian Cash Constraints
Cash constraints in Russia limit financial flexibility, potentially affecting investment capacity and strategic initiatives in the region.

Coca Cola HBC (CCH) vs. iShares MSCI United Kingdom ETF (EWC)

Coca Cola HBC Business Overview & Revenue Model

Company DescriptionCoca-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.
How the Company Makes MoneyCoca-Cola HBC generates revenue primarily through the sale of beverages to retailers, food service outlets, and vending machine operators. The company operates under a revenue model that includes direct sales and distribution agreements, where it earns profits by selling its products at wholesale prices. Key revenue streams include the sale of Coca-Cola branded products, as well as its own proprietary brands, which contribute to its overall earnings. Additionally, CCH benefits from strong partnerships with The Coca-Cola Company, leveraging brand recognition and marketing support. The company's focus on expanding its product offerings, entering new markets, and optimizing its supply chain also plays a crucial role in its revenue generation.

Coca Cola HBC Earnings Call Summary

Earnings Call Date:Aug 06, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Feb 10, 2026
Earnings Call Sentiment Positive
The earnings call presented a positive outlook with strong revenue and EPS growth and successful segment performance, particularly in Energy. However, there were challenges in Established and Developing markets, increased marketing expenses, and cash constraints in Russia. Despite these challenges, the company's strategic investments and market share gains provide a robust growth trajectory.
Q2-2025 Updates
Positive Updates
Strong Organic Revenue Growth
Organic revenue grew 9.9% with volume growth of 2.6%. The growth was primarily driven by Sparkling and Energy categories.
EPS Growth
Earnings per share (EPS) grew nearly 26%, supported by better net finance costs.
Energy Segment Performance
Energy segment grew by 30%, with notable contributions from Monster and affordable brands like Predator and Fury in Africa.
Market Share Gains
Gained 100 basis points of value share in NARTD year-to-date, maintaining a leading position in the FMCG sector in Europe.
AI and Digital Transformation
Continued investment in digital data and AI transformation, enhancing consumer and customer centricity, operational productivity, and employee experience.
Sustainability Initiatives
Launched sustainability-linked business plan with Carrefour and achieved an 80% average return rate for deposit return schemes in Romania and Hungary.
Negative Updates
Decline in Coffee Volumes
Overall coffee volumes declined 7.6% due to strategic focus on the out-of-home channel, which saw 17% growth.
Challenges in Established and Developing Markets
Sparkling volumes declined in Established and Developing segments, with challenges noted in markets like Austria and Switzerland due to consumer price sensitivity.
Operational and Marketing Expenses Impact
Higher marketing and operating expenses influenced EBIT margins, particularly in the Established and Developing segments.
Russian Cash Constraints
Inability to upstream dividends from Russia, with cash reserves increasing to over EUR 700 million.
Company Guidance
During the Coca-Cola HBC conference call for the 2025 half-year results, significant guidance was provided for the remainder of the fiscal year. The company reported high-quality top-line growth with organic revenue increasing by 9.9% and volume growth of 2.6%. Organic revenue per case rose by 7.2%, with EBIT growing by 11.8% on an organic basis and margin improvement leading to a nearly 26% increase in comparable earnings per share. Free cash flow increased by 10% to EUR 243 million. The call highlighted strong performances in the Sparkling and Energy categories, with Energy up by 30% and Sparkling seeing a 2.3% volume growth. The company gained 100 basis points of value share in NARTD year-to-date and remains the top contributor to retail customers' absolute revenue growth within FMCG in Europe. Guidance for 2025 was updated to reflect expectations of low-single-digit volume growth, with all segments expected to grow, and organic revenue and EBIT growth anticipated to be at the top end of the guided ranges. Despite a mixed market environment, the company expressed confidence in its strategic priorities and growth capabilities.

Coca Cola HBC Financial Statement Overview

Summary
Coca Cola HBC demonstrates strong financial health with robust revenue growth, profitability, and cash flow generation. The company’s operational efficiency is reflected in improving margins and returns. However, the reliance on liabilities should be monitored.
Income Statement
85
Very Positive
Coca Cola HBC has demonstrated strong revenue growth, increasing from $6.13 billion in 2020 to $10.75 billion in 2024, with a notable revenue growth rate of 5.60% from 2023 to 2024. The gross profit margin is healthy at 36.06%, and the net profit margin improved to 7.63% in 2024 from 6.25% in 2023, reflecting efficient cost management. EBIT and EBITDA margins are also robust at 11.02% and 15.10%, respectively, indicating strong operational performance.
Balance Sheet
78
Positive
The company maintains a moderate debt-to-equity ratio of 1.24, which suggests balanced leverage. The return on equity (ROE) improved to 25.60%, indicating efficient use of equity capital to generate profits. However, the equity ratio stands at a moderate 30.09%, showing a reliance on liabilities for funding. While the balance sheet is stable, the relatively low equity ratio suggests potential risk in financial structure.
Cash Flow
80
Positive
Coca Cola HBC's free cash flow remained stable at $776 million in 2024. The operating cash flow to net income ratio is robust at 1.70, reflecting strong cash generation relative to net income. The free cash flow to net income ratio is impressive at 0.95, indicating effective capital expenditure management and strong conversion of net income to free cash flow. These metrics demonstrate solid cash flow management and sustainability.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue11.20B10.75B10.18B9.20B7.17B6.13B
Gross Profit4.07B3.88B3.56B3.15B2.60B2.32B
EBITDA1.59B1.62B1.38B1.22B1.13B1.04B
Net Income909.60M820.60M636.50M415.40M547.20M414.90M
Balance Sheet
Total Assets11.88B10.65B9.88B9.86B8.51B7.57B
Cash, Cash Equivalents and Short-Term Investments1.70B2.45B1.93B1.75B1.62B1.31B
Total Debt4.34B3.98B3.42B3.42B2.94B2.93B
Total Liabilities8.41B7.35B6.69B6.47B5.40B4.94B
Stockholders Equity3.37B3.21B3.09B3.28B3.11B2.63B
Cash Flow
Free Cash Flow802.10M776.50M776.00M711.20M635.70M542.30M
Operating Cash Flow1.49B1.39B1.39B1.23B1.14B961.50M
Investing Cash Flow-437.70M-820.90M-268.80M-1.08B-1.26B239.10M
Financing Cash Flow-445.90M-205.50M-412.40M-198.70M-322.40M-786.80M

Coca Cola HBC Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3926.00
Price Trends
50DMA
3737.08
Positive
100DMA
3643.50
Positive
200DMA
3732.20
Positive
Market Momentum
MACD
51.37
Negative
RSI
61.82
Neutral
STOCH
83.02
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CCH, the sentiment is Positive. The current price of 3926 is above the 20-day moving average (MA) of 3837.40, above the 50-day MA of 3737.08, and above the 200-day MA of 3732.20, indicating a bullish trend. The MACD of 51.37 indicates Negative momentum. The RSI at 61.82 is Neutral, neither overbought nor oversold. The STOCH value of 83.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:CCH.

Coca Cola HBC Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
78
Outperform
£14.27B18.6328.56%1.96%6.00%42.42%
74
Outperform
$1.02B41.699.97%2.11%-6.03%13.11%
70
Outperform
£717.55M14.7315.73%2.74%3.97%34.09%
68
Neutral
£36.81B20.2222.29%5.00%-2.83%-40.42%
67
Neutral
£365.62M20.8818.67%3.39%3.04%-6.67%
65
Neutral
£489.88M28.063.72%4.05%-2.22%
62
Neutral
$20.33B14.63-3.31%3.23%1.93%-12.26%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:CCH
Coca Cola HBC
3,926.00
1,183.77
43.17%
GB:DGE
Diageo
1,655.50
-683.90
-29.23%
GB:FEVR
Fevertree Drinks
885.00
236.99
36.57%
GB:BAG
AG Barr
645.00
72.43
12.65%
GB:NICL
Nichols
1,000.00
-227.81
-18.55%
GB:CCR
C&C Group Plc
133.00
-9.27
-6.52%

Coca Cola HBC Corporate Events

Business Operations and StrategyFinancial Disclosures
Coca-Cola HBC Sets 10 February Date for Full-Year 2025 Results and Investor Call
Neutral
Jan 13, 2026

Coca-Cola HBC AG will publish its full-year 2025 financial results on 10 February 2026 at 7:00 a.m. GMT, followed by a conference call for investors and analysts at 9:00 a.m. GMT, with both the release and subsequent webcast, recording and transcript to be made available on the company’s investor relations website. The scheduled disclosure underlines the group’s ongoing engagement with capital markets and provides a key upcoming catalyst for shareholders and analysts monitoring the performance and strategic progress of one of Europe’s largest Coca-Cola bottlers.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £47.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Executive/Board ChangesRegulatory Filings and Compliance
Coca-Cola HBC CEO Retains Majority of Vested Deferred Share Award
Neutral
Jan 5, 2026

Coca-Cola HBC AG has reported a routine management share transaction involving Chief Executive Officer Zoran Bogdanovic under the company’s Management Incentive Plan. A deferred bonus award of 18,941 ordinary shares, linked to his 2022 performance-related annual bonus and granted in March 2023, vested on 31 December 2025; Bogdanovic sold 1,009 shares to meet tax and other liabilities and retained 17,932 shares. The disclosure, made under UK and EU Market Abuse Regulation requirements, underscores standard governance and transparency practices around executive compensation rather than any shift in the group’s operational strategy or financial outlook.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £3830.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Executive/Board ChangesRegulatory Filings and Compliance
Coca-Cola HBC Grants Performance Shares to Chief Operating Officer
Neutral
Dec 23, 2025

Coca-Cola HBC AG has awarded Chief Operating Officer Panagiota Kalogeraki 5,898.31 performance shares at nil cost under its 2025–2027 Performance Share Plan, with a reference share price of GBP 35.90. The shares are scheduled to vest in November 2028 subject to performance conditions, and the company emphasised that the grant was deferred to ensure compliance with UK and EU Market Abuse Regulation, underscoring its commitment to regulatory standards and performance-linked executive remuneration.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £3830.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Regulatory Filings and Compliance
Coca-Cola HBC Discloses Share Sale by Regional Director Under Stock Plan
Neutral
Dec 22, 2025

Coca-Cola HBC AG has disclosed that regional director Minas Agelidis, a person discharging managerial responsibilities, sold 8,000 ordinary shares in the company on 19 December 2025 under an employee stock purchase plan, at a price of £38.016025 per share on the London Stock Exchange. The transaction, carried out in compliance with UK and EU Market Abuse Regulation disclosure requirements, generated gross proceeds of just over £304,000 and underscores the company’s ongoing adherence to transparency rules governing insider dealings in its securities.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £3830.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Regulatory Filings and Compliance
Coca-Cola HBC CFO Sells 6,000 Shares Under Employee Stock Plan
Neutral
Dec 18, 2025

Coca-Cola HBC AG has disclosed that its Chief Financial Officer, Anastasios Stamoulis, sold 6,000 ordinary shares in the company on 17 December 2025 through the London Stock Exchange. The transaction, executed under the company’s employee stock purchase plan at a price of GBP 37.681437 per share, amounted to a total value of approximately GBP 226,088.62 and was reported in line with UK and EU Market Abuse Regulation requirements, providing transparency to investors and regulators about dealings by senior management.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4400.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Other
Coca-Cola HBC Executives Increase Holdings Through Employee Share Plan
Neutral
Dec 18, 2025

Coca-Cola HBC AG disclosed that several persons discharging managerial responsibilities, including CEO Zoran Bogdanovic and other senior executives, purchased ordinary shares in the company on 17 December 2025 through its Employee Share Purchase Plan, with the company making matching contributions in line with the plan’s rules at a price of £37.73366 per share. The transactions, conducted on the London Stock Exchange, underscore ongoing alignment of management and shareholder interests via increased insider equity ownership, but do not in themselves signal any change to the company’s strategic direction or operational outlook.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4400.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

M&A TransactionsShareholder Meetings
Coca-Cola HBC to Hold EGM for Major African Acquisition
Positive
Dec 17, 2025

Coca-Cola HBC AG has announced an Extraordinary General Meeting (EGM) scheduled for January 19, 2026, to discuss its acquisition of a 75% equity interest in Coca-Cola Beverages Africa. The acquisition, valued at $3.4 billion, involves purchasing shares from TCCC Sellers and Gutsche Family Investments. The EGM will address shareholder approvals required for the transaction, including amendments to the company’s articles of association and the issuance of new shares. This acquisition is a strategic move for Coca-Cola HBC, enhancing its market presence in Africa and aligning with its growth objectives.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4400.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Regulatory Filings and Compliance
Coca-Cola HBC CEO Sells Company Shares
Neutral
Nov 24, 2025

Coca-Cola HBC AG announced that its CEO, Zoran Bogdanovic, sold 15,000 ordinary shares of the company at a price of GBP 36.16 per share, amounting to approximately GBP 540,637. This transaction was conducted under the Employee Stock Purchase Plan and is in compliance with the UK and EU Market Abuse Regulations. The sale of shares by a high-ranking executive could be interpreted as a signal to stakeholders about the executive’s perspective on the company’s current valuation or future prospects.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £40.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Business Operations and Strategy
Coca-Cola HBC Enhances Employee Investment with Share Purchase Plan
Positive
Nov 18, 2025

Coca-Cola HBC AG announced that several persons discharging managerial responsibilities (PDMRs) have acquired ordinary shares through the company’s Employee Share Purchase Plan (ESPP). The company also made matching contributions to these acquisitions, reflecting its commitment to employee investment in the company. This move is likely to strengthen employee engagement and align managerial interests with shareholder value, potentially enhancing the company’s operational performance and market positioning.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £40.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Regulatory Filings and Compliance
Coca-Cola HBC AG Regional Director Sells Shares
Neutral
Nov 5, 2025

Coca-Cola HBC AG announced that Vladimir Kosijer, a Regional Director and person discharging managerial responsibilities, sold 24,000 ordinary shares of the company. The transaction, conducted on 30 October 2025, was part of a prior vested performance share award plan, resulting in a net amount of approximately GBP 824,206. This notification complies with the UK and EU Market Abuse Regulations.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £3911.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Regulatory Filings and Compliance
Coca-Cola HBC Director Acquires Shares, Signaling Confidence
Positive
Oct 23, 2025

Coca-Cola HBC AG announced that Stavros Pantzaris, a director of the company, purchased 3,000 ordinary shares at a price of 39.96 EUR each, totaling 119,880 EUR. This transaction was conducted on October 22, 2025, and is reported in compliance with the UK and EU Market Abuse Regulations, reflecting transparency in managerial dealings and potentially indicating confidence in the company’s future prospects.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £45.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Coca-Cola HBC Director Acquires Significant Shareholding
Positive
Oct 23, 2025

Coca-Cola HBC AG announced a transaction involving a director, Pantelis (Linos) Doros Lekkas, who purchased 10,000 ordinary shares at a price of 34.50 GBP each, totaling 345,000 GBP. This transaction, conducted on the London Stock Exchange, reflects managerial confidence in the company’s prospects and is reported in compliance with UK and EU Market Abuse Regulations.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £45.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Business Operations and StrategyFinancial DisclosuresM&A Transactions
Coca-Cola HBC Reports Strong Q3 2025 Performance and Strategic Expansion
Positive
Oct 21, 2025

Coca-Cola HBC AG reported a solid third quarter in 2025, with an organic revenue growth of 5.0%, leading to a year-to-date growth of 8.1%. Despite mixed market conditions and less favorable weather, the company saw revenue growth across all segments, driven by strategic initiatives such as the ‘Share a Coke’ campaign and the launch of new products like Monster drinks and Bambi snacks in Nigeria. The company also announced the acquisition of a majority stake in Coca-Cola Beverages Africa, positioning itself for further growth and value creation in both European and African markets. The company remains confident in its financial outlook, supported by its resilient portfolio and strategic market actions.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4054.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Business Operations and StrategyDelistings and Listing ChangesM&A Transactions
Coca-Cola HBC Expands African Footprint with Major Acquisition
Positive
Oct 21, 2025

Coca-Cola HBC has announced its acquisition of a 75% stake in Coca-Cola Beverages Africa, significantly expanding its presence in Africa and creating the second-largest Coca-Cola bottling partner globally by volume. This strategic move is expected to enhance Coca-Cola HBC’s market position by leveraging growth opportunities in high-potential African markets, driving sustainable and profitable growth, and increasing shareholder value. The acquisition, valued at $2.6 billion, is set to be completed by the end of 2026, subject to approvals, and will be supported by a secondary listing on the Johannesburg Stock Exchange to reinforce its commitment to Africa.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4054.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Business Operations and Strategy
Coca-Cola HBC AG Executives Acquire Shares Through ESPP
Positive
Oct 20, 2025

Coca-Cola HBC AG announced that several Persons Discharging Managerial Responsibilities (PDMRs) have acquired ordinary shares through the company’s Employee Share Purchase Plan (ESPP). The company also contributed to the ESPP, matching shares on behalf of the PDMRs. This initiative reflects the company’s commitment to aligning the interests of its management with those of its shareholders, potentially enhancing stakeholder confidence and reinforcing its market position.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £4054.00 price target. To see the full list of analyst forecasts on Coca Cola HBC stock, see the GB:CCH Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Dec 07, 2025