Coca-Cola doubles FY profit in Estonia

TALLINN – The marketer and seller of beverages AS Coca-Cola HBC saw its net profit almost double year on year to 1.7 million euros in 2018.

The precise rate of year-to-year increase in earnings was 98.3 percent, it appears from the annual report.

Sales revenue amounted to 25.08 million euros, of which 85 percent was earned in Estonia. In addition, 1.6 million euros was earned in Lithuania, 1.36 million in Latvia and 763,000 euros in other EU member states.

Of revenue, 90.6 percent was generated in the wholesale of beverages and 7.6 percent in non-specialized wholesale, with a smaller portion generated in other services. 

Where the annual report of Coca-Cola HBC for 2017 shows the company's revenue as having been 25.6 million euros in that year, the fresh report shows the 2017 revenue at 21.9 million euros. 

The management of Coca-Cola HBC pointed out that in 2018, Estonian consumers paid altogether 49 million euros for Coca-Cola products, and of each euro paid 68 cents was left in the local economy. VAT made up 8.2 million euros of the 49 million euros paid by consumers here, while the margins of points of sale made up 20.9 million euros.  

In 2018, the company's product offering was made up of Coca-Cola, Coca-Cola Zero, Fanta, Sprite and Linnuse Kali, speaking of soft drinks. In addition, the product offering included Neptunas and Romerquelle waters, Fuztea ice teas, Cappy Ice Fruit juice drinks, Cappy juices, Burn and Monster energy drinks, Powerade sports beverages and Schweppes tonics. All products sold by the company are imported, mainly from Poland, Hungary, the Czech Republic, Austria and Romania.

The offering of alcoholic beverages of Coca-Cola HBC is made up of Finlandia Vodka, Jack Daniels Whiskey, Woodward Whiskey, Famous Grouse, Highland Park, Macallan, Cutty Sark Whisky, Bols, Brugal and Chambord Liquer. The alcoholic beverages sold by the company are imported from Finland, Italy, Belgium, France, Netherlands and the United States.

The company's retained profit stood at 26 million euros as at balance sheet day and it plans to pay out 7.17 million euros in dividends for 2018. 

Coca-Cola HBC employed on the average 94 people translated into full-time workers in 2018 and wage costs totaled 2.53 million euros. In 2017, employees numbered 98 and wage costs totaled 2.51 million euros.