* FY net profit down 12 pct at 285 mln euros, below forecast
* Higher raw material, operating costs hurt results
* Sets 1.3 bln euro free cash flow target for 2013-15
ATHENS, Feb 14 Coca-Cola Hellenic (CCH)
, the world's No. 2 bottler of Coca-Cola drinks,
posted its second year running of falling profit in 2012, hit by
higher costs and austerity in its debt-laden European markets.
CCH, which operates in 28 countries from Russia to Nigeria,
posted a 12 percent drop in 2012 profit as demand for its
Profit, excluding restructuring and other one-off charges,
dropped to 285 million euros ($382.9 million) versus analysts'
average forecast of 291.5 million euro in a Reuters poll.
The company which aims to leave debt-laden Greece, moving
headquarters to Switzerland and its listing to London, said
tough conditions would continue this year.
"We anticipate that in 2013, disposable income will remain
under pressure, resulting from continued austerity measures and
high unemployment, particularly in our established markets,"
Chief Executive Officer Dimitris Lois said in a statement.
Higher input costs along with unfavourable foreign currency
fluctuations and higher operating expenses hit comparable
earnings before interest and tax (EBIT), which dropped 13
percent to 453 million euros year-on-year.
The volume of unit cases sold was almost flat year-on-year
at 2.08 billion. Sales rose 3 percent to 7.05 billion euros,
compared with an average analyst forecast of 7.03 billion.
The company said it would continue cost cuts to achieve 1.3
billion euros of free cash flow in 2013-2015.