You are here: Home » Companies » News
Business Standard

Challenges remain in India but recovery signs in away-from-home: Coca-Cola

The company has witnessed "solid growth" in sparkling soft drinks in the markets of China and India in the October-December quarter of 2020, The Coca-Cola Company said in its earnings statement

Topics
Coca-Cola

Press Trust of India  |  New Delhi 

After 25 years in India, Coca-Cola is getting ready to reinvent itself

Global soft drinks major on Wednesday said while challenges remain in the Indian market, there are signs of recovery in the 'away-from-home' segment which was badly hit after the pandemic.

The company has witnessed "solid growth" in sparkling soft drinks in the markets of China and India in the October-December quarter of 2020, The Company said in its earnings statement.

The company has reported a decline of 4 per cent in its unit case volume for the Asia Pacific market, primarily due to adverse weather in Southeast Asia along with coronavirus-related pressure in away-from-home channels in most markets in the region.

However, the Asia Pacific market zone also reported "Volume performance included solid growth in sparkling soft drinks in China and India."

The cola major witnessed signs of recovery in the away-from-home segment in India, which is the fifth-largest market for globally.

"In India challenges remain but signs of recovery in away-from-home," Coca-Cola said in its investor presentation.

Its operating income declined 2 per cent in the quarter in the Asia Pacific zone.

Unit case volume means the number of unit cases of beverages directly or indirectly sold by the company and its bottling partners to customers.

Overall, the Atlanta-headquartered company has reported a decline of 5 per cent in its consolidated net revenues to USD 8.6 billion.

"This was driven by a 3 per cent decline in price/mix while concentrate sales were even," it said.

For the year 2020, Coca-Cola's net revenues declined 11 per cent to USD 33 billion.

James Quincey, chairman and CEO of The Coca-Cola Company, said: "The progress we made in 2020, including the actions taken to accelerate the transformation of our company, gives us confidence in returning to growth in the year ahead."


"While near-term uncertainty remains, we are well-positioned to emerge stronger from the crisis, driven by our purpose and our beverages for life ambition," he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, February 10 2021. 23:37 IST
RECOMMENDED FOR YOU