Coca-Cola HBC shares rose over 3% on Tuesday after the Europe- and Africa-focused bottler reported strong fourth-quarter and full-year 2025 results, driven by volume growth, premiumisation and robust pricing. For the quarter, organic revenue grew 8.1%, with volume up 2.8%, led by sparkling beverages and energy drinks. Full-year net sales revenue reached €11.60 billion, up 7.9%, with organic revenue per case increasing 5.1%.

Comparable operating profit (EBIT) rose 11.5% to €1.36 billion, and margins improved 40 basis points to 11.7%. Comparable net profit reached €989.3 million, up 19.4%, while EPS rose 19.7% to €2.72. The company highlighted continued success in premiumisation and customer segmentation, supported by AI-driven revenue management. CEO Zoran Bogdanovic noted the milestone acquisition of Coca-Cola Beverages Africa (CCBA), agreed on Oct. 21, 2025, for US$2.6 billion for a 75% stake, is on track to close by end-2026. Free cash flow totaled €700 million, modestly lower than 2024, reflecting higher capex of €827.6 million spent on production capacity, automation, and energy-efficient coolers.

In established markets, organic revenue grew 2.3%, while developing markets saw 6.1% growth. Analysts at Jefferies highlighted the EPS beat and noted the company is well-positioned for 2026, with guidance for organic revenue growth of 6-7% and EBIT growth of 7–10%. The board proposed an ordinary dividend of €1.20 per share, up 17% from 2024. Net debt to comparable EBITDA remained conservative at 0.7x.

This strong performance, particularly the Africa deal and operational efficiency, signals robust growth potential for the bottler.