FDBusiness.com

The Coca-Cola Company has reported a 33% rise in net revenues to $46.54 billion and comparable currency neutral net revenues growth of 29% for 2011, reflecting the acquisition of Coca-Cola Enterprises’ former North America operations in the fourth quarter of 2010. Full year reported operating income grew 20% to $10.15 billion and comparable currency neutral operating income grew 12%.

The world’s largest soft drinks company achieved strong worldwide volume growth of 5% for the full year. Volume growth was well-balanced across the globe, with solid growth in key developed markets like North America, Japan and Germany and double-digit growth in key emerging markets such as India and China.

The company’s four-year productivity programme has been successfully completed, with annualised savings of over $500 million, exceeding the original target range of $400 to $500 million. The Coca-Cola Company is now launching a new ‘Productivity and Reinvestment’ programme with targeted annualised savings of $550 to $650 million by the end of 2015 as a natural extension of the company’s 2020 Vision development strategy.

Muhtar Kent, chairman and chief executive of The Coca-Cola Company.

Muhtar Kent, chairman and chief executive of  The Coca-Cola Company, comments: “The Coca-Cola Company continues its momentum toward realising our 2020 Vision, with stronger brands, clear strategies and well-focused execution to drive further growth. We once again achieved financial results for both the year and the quarter in line with, or ahead of, our long-term targets, with quarterly volume and revenue growth in every one of our five geographic operating groups. Importantly, we also continued to increase our global volume and value share in 2011.”

He continues: “Even as we believe that global market volatility will continue in the near term, the breadth of our global footprint and the strength of our brands create a resilient business that was built for times like these. As we enter into the third year of our 2020 Vision, our Roadmap for Winning Together remains clear. The assumptions that shaped our 2020 Vision have not changed. Our expectations for long-term, sustainable and balanced growth across emerging and developed markets have not wavered. And we will continue to make significant investments in our future all around the world to support the tremendous opportunity we see in nonalcoholic ready-to-drink beverages, one of the fastest growing segments in consumer packaged goods.”