June 3, 2019 / 11:36 AM / 6 months ago

Coca Cola HBC targets up to 6% annual revenue growth for next six years

(Reuters) - Coca-Cola’s leading bottler Coca Cola HBC AG said on Monday it expects annual revenue growth over the next six years at around 6%, while pointing to margin growth below estimates for fiscal year 2020.

The company, which sells Coca-Cola drinks in 28 countries, said it expects comparable earnings before income tax (EBIT) margin of 11% by 2020, below analysts’ average estimate of 11.2%, according to company compiled consensus.

Coca Cola HBC forecast comparable EBIT margin to rise by 20-40 basis points on an average beyond fiscal year 2020.

The company said its average annual revenue growth rate up to 2025 is expected to be in the range of 5%-6% on a currency-neutral basis.

The forecast comes ahead of an investor event in London later on Monday where the company will present its strategy to investors and analysts.

The FTSE-100 company’s shares were down 1.1% at 1143 GMT.

Reporting by Muvija M and Sangameswaran S in Bengaluru; Editing by Bernard Orr and Saumyadeb Chakrabarty

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