FDBusiness.com

2015 is to be a transitional year for The Coca-Cola Company as it attempts to accelerate growth. The global soft drinks group reported volume growth of 2% for 2014 with global sparkling beverage volume up 1%, driven by growth in its Coca-Cola, Sprite and Fanta brands.

The company’s global still beverage volume rose by 4% for the full year fuelled by growth in ready-to-drink tea, sports drinks and packaged water. Volume growth in these beverage categories was partially offset by a decline in juice and juice drinks, due in part to price increases to cover higher input costs.

However, reported net revenues declined by 2% to $45.998 billion and operating income fell 5% to $9.708 billion for 2014, partly reflecting the strength of the dollar.

The Coca-Cola Company is continuing to take steps to strengthen its brand portfolio in fast-growing categories and key markets as evidenced by the addition of Gold Peak tea, FUZE TEA and I LOHAS mineral water to the group’s portfolio of billion-dollar brands, bringing the total number of billion-dollar brands to 20.

Muhtar Kent, chairman and chief executive of The Coca-Cola Company, comments “We remain resolutely focused on accelerating growth and taking advantage of opportunities to solidify our position in key markets and categories. However, we continue to see 2015 as a transition year as the benefits from the announced initiatives will take time to materialize amidst an uncertain and volatile macroeconomic environment. We remain confident that we have the right strategies in place, and our associates and bottling partners are embracing these initiatives and are enthusiastic about the opportunity ahead. We will continue to strengthen our brand portfolio and leverage our unparalleled global distribution system to create sustainable long-term shareowner value.”