New Delhi, July 2024.
The Coca-Cola Company in its second-quarter 2024 results demonstrated continued momentum in an industry with many growth opportunities. “We are encouraged with our second quarter results, which delivered solid topline and operating income growth in an ever-changing landscape,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “Together with our bottling partners, we continue to execute our highly effective all-weather strategy, and we are confident in our ability to deliver on our raised 2024 guidance and longer-term objectives.”
He further added, “Business in India recovered from a slower start to the year driven by Sprite and Fanta as well as strong local brands such as Thums Up and Maaza. Strong end-to-end execution across our growth flywheel led to double-digit volume growth.”
India highlights:
- Delivering value through elevated revenue growth management (RGM) capabilities: In India, the company is leveraging packaging innovation by utilizing an ultra-lightweight affordable bottle with an extended shelf life, allowing beverages to be transported farther to reach more consumers and reducing costs. The package is now available in over half of India’s commercial beverage outlets and has added more than 400 million transactions in the first half of the year.
- Unit case volume grew 2%: Developed markets were even, while developing and emerging markets grew mid-single digits, driven by growth in India, Brazil and the Philippines.
- In Asia Pacific, Unit case volume grew 3%: driven by growth in sparkling flavours and Trademark Coca-Cola, growth was led by India and the Philippines.