Coca-Cola HBC Romania, the bottler of the Coca-Cola beverages for the Romanian market made more than 38 million euros (139 million RON) in net profit in the first 11 months of last year, almost double the profit for the entire 2004.
The 11-month result was published in the Official Gazette, in a financial statement that the company used for a project to merge with Societatea de Imbuteliat Coca-Cola Galati.
According to the same statement, Coca-Cola HBC''s net asset in Romania was 139 million euros (504 million RON) at the end of November. The Coca-Cola officials did not care to comment on the results and did not provide financial data for the entire 2005.
"The financial performance of Coca-Cola HBC Romania can be judged through the results derived by the Coca-Cola HBC Group. Romania had a major contribution that kept constant over the past few years, regarding the maintenance and improvement of the group''s results. The market in Romania has numerous opportunities, as it is a dynamic market," stated Mugurel Radulescu, Public Affairs & Communications Manager with Coca-Cola HBC Romania.
Coca-Cola HBC Romania posted a 17% increase in the volume of sales last year, twice higher than in 2004. If the quantitative pace of growth is the same in terms of value, Coca-Cola HBC Romania''s total sales could exceed 260 million euros for the entire last year.
As a comparison, the turnover of Coca-Cola HBC Romania exceeded 220 million euros in 2004, according to Finance Ministry data.
The net profit posted by the Romanian subsidiary in the first 11 months of 2005, according to the Official Gazette, accounts for nearly 12% of the total profit of the Coca-Cola HBC Greece group.
The profit derived by Coca-Cola HBC Greece (the main shareholder of Coca-Cola HBC Romania) was of nearly 320 million euros, 26% higher than in the previous year.
According to the official financial reports of the Greek group, the profit continued to grow in Romania at the same pace as in the last few years, as a result of the large volumes and revenues, given that costs maintained stable.
"Coca-Cola HBC Romania being part of the global system has created the possibility to permanently interact with other producers on the international market," Radulescu says.
Both the domestic and international soft drinks producers will benefit from the expansion of the hypermarket chains operating in Romania throughout the country and the entry of some major supermarket chains this year, Radulescu says.
Coca-Cola HBC Romania invested in production last year, by buying new equipment, expanding the vehicle fleet and introducing the new ultraglass returnable bottle.
Coca-Cola HBC Romania is a subsidiary of the Greek Coca-Cola Hellenic Bottling Company (HBC). Coca-Cola Romania has been present on the domestic market since 1991 and holds the group''s brands in Romania. Coca-Cola Romania is involved in marketing and import operations, as well as the sale of the concentrates.
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