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Coca-Cola HBC Ltd (GB:CCH)
LSE:CCH
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Coca Cola HBC (CCH) AI Stock Analysis

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GB:CCH

Coca Cola HBC

(LSE:CCH)

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Outperform 75 (OpenAI - 4o)
Rating:75Outperform
Price Target:
3,911.00p
▲(12.45% Upside)
Coca Cola HBC's overall stock score reflects its strong financial performance and positive earnings call, which highlight robust growth and strategic market positioning. While technical indicators suggest caution, the company's valuation remains reasonable, supporting a favorable investment outlook.
Positive Factors
Revenue Growth
Strong organic revenue growth indicates robust demand and effective pricing strategies, supporting long-term market expansion and financial health.
Market Share Gains
Market share gains in the FMCG sector demonstrate competitive strength and effective market penetration, enhancing long-term positioning.
Energy Segment Performance
Significant growth in the Energy segment reflects successful product diversification and increasing consumer demand, bolstering future revenue streams.
Negative Factors
Operational and Marketing Expenses
Increased expenses can pressure profit margins, potentially limiting reinvestment capabilities and affecting long-term profitability.
Challenges in Established Markets
Consumer price sensitivity in key markets may hinder volume growth, impacting revenue stability and competitive positioning.
Russian Cash Constraints
Cash constraints in Russia limit financial flexibility and could affect the company's ability to allocate resources efficiently across regions.

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, which includes soft drinks, water, juices, and energy drinks. The company operates on a franchise model, where it purchases concentrate from The Coca-Cola Company and then produces, bottles, and distributes the finished products. Key revenue streams include retail sales to supermarkets, convenience stores, and restaurants, alongside partnerships with local and global brands. Additionally, CCH benefits from economies of scale, efficient production practices, and strategic pricing to maximize profit margins. Significant partnerships with major retailers and a strong distribution network across its operating regions further contribute to its earnings.

Coca Cola HBC Earnings Call Summary

Earnings Call Date:Aug 06, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Feb 12, 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 balance sheet shows a reliance on liabilities, which 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
Neutral
Last Price3478.00
Price Trends
50DMA
3603.12
Negative
100DMA
3752.44
Negative
200DMA
3564.36
Negative
Market Momentum
MACD
-26.62
Negative
RSI
47.49
Neutral
STOCH
50.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CCH, the sentiment is Neutral. The current price of 3478 is above the 20-day moving average (MA) of 3424.30, below the 50-day MA of 3603.12, and below the 200-day MA of 3564.36, indicating a neutral trend. The MACD of -26.62 indicates Negative momentum. The RSI at 47.49 is Neutral, neither overbought nor oversold. The STOCH value of 50.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
£12.58B16.4228.56%2.17%6.00%42.42%
£764.27M15.6915.73%2.52%3.97%34.09%
$998.64M40.279.97%1.99%-6.03%13.11%
$20.33B14.63-3.31%3.23%1.93%-12.26%
£387.55M22.1318.67%3.03%3.04%-6.67%
£512.72M45.642.40%6.32%-1.80%
£323.85M-55.94-2.51%1.93%-2.67%89.86%
* Consumer Defensive Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:CCH
Coca Cola HBC
3,478.00
843.35
32.01%
GB:FEVR
Fevertree Drinks
858.00
133.52
18.43%
GB:BAG
AG Barr
682.00
65.54
10.63%
GB:NICL
Nichols
1,040.00
16.83
1.64%
GB:PZC
PZ Cussons
77.70
-4.98
-6.02%
GB:CCR
C&C Group Plc
136.00
-13.90
-9.27%

Coca Cola HBC Corporate Events

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.

Business Operations and StrategyFinancial Disclosures
Coca-Cola HBC to Release Q3 2025 Trading Update
Neutral
Sep 30, 2025

Coca-Cola HBC AG announced it will release its 2025 third quarter trading update on October 30, 2025. A conference call for investors and analysts will follow the release, providing insights into the company’s performance. This update is crucial for stakeholders to assess the company’s market position and operational strategies.

The most recent analyst rating on (GB:CCH) stock is a Buy with a £46.00 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 Strengthens Employee Engagement with Share Purchase Plan
Positive
Sep 18, 2025

Coca-Cola HBC AG announced that several individuals holding managerial responsibilities have acquired ordinary shares in the company through its Employee Share Purchase Plan (ESPP). The company also contributed to the ESPP, reflecting its commitment to employee engagement and investment in its workforce. This move is likely to enhance employee motivation and align their interests with the company’s performance, potentially impacting the company’s operational efficiency and market position positively.

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 Executives Acquire Shares Under ESPP
Positive
Aug 19, 2025

Coca-Cola HBC AG announced that several of its Persons Discharging Managerial Responsibilities (PDMRs) have acquired ordinary shares through the company’s Employee Share Purchase Plan (ESPP). The transactions, which took place on August 18, 2025, reflect the company’s commitment to aligning the interests of its management with those of its shareholders. This move could strengthen the company’s internal stakeholder engagement and potentially enhance its market positioning.

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.

Coca-Cola HBC Reports Strong Growth Amid Challenges
Aug 8, 2025

Coca-Cola HBC’s recent earnings call conveyed a strong sense of optimism and strategic growth, despite facing some challenges. The company reported robust financial performance with significant market share gains and successful product innovations, particularly in the Energy drinks segment. However, there were concerns regarding declining coffee volumes and the accumulation of cash reserves in Russia. Overall, the sentiment was positive, highlighting resilience and strategic advancement.

Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
Coca-Cola HBC Reports Strong H1 2025 Results with Strategic Growth
Positive
Aug 6, 2025

Coca-Cola HBC AG reported strong financial results for the first half of 2025, with a 9.9% organic revenue growth driven by strategic execution and increased volumes, particularly in emerging markets. The company achieved a 25.8% increase in comparable EPS, supported by EBIT growth and lower finance costs, while continuing to innovate and invest in its 24/7 portfolio, including successful campaigns and product launches like ‘Share a Coke’ and new Monster innovations, positioning itself strongly in a challenging macroeconomic environment.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £29.20 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 StrategyPrivate Placements and Financing
Coca-Cola HBC Secures New EUR 1.2 Billion Credit Facility
Positive
Aug 4, 2025

Coca-Cola HBC AG has announced the replacement of its existing EUR 800 million Syndicated Multi-Currency Revolving Credit Facility with a new EUR 1.2 billion facility, extending the term to five years with an option for an additional two years. This new facility, which is sustainability-linked, is expected to support the company’s general corporate purposes and reflects its commitment to sustainable growth, potentially strengthening its financial flexibility and market position.

The most recent analyst rating on (GB:CCH) stock is a Hold with a £29.20 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: Oct 25, 2025