Coca-Cola Icecek A.S. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of TRY 917.3 million against TRY 631.3 million a year ago. EBIT was TRY 301.7 million against TRY 40.3 million a year ago. Net income was TRY 274.8 million against TRY 49.4 million a year ago. EBITDA was TRY 129.8 million against TRY 83.0 million a year ago. Profit before tax was TRY 279.6 million against TRY 64.9 million a year ago. EBIT (Exc. other) was TRY 57.9 million against TRY 38.7 million a year ago. EBITDA (Exc. other) was TRY 127.1 million against TRY 81.0 million a year ago. Capital expenditure was TRY 97 million. Profit before tax (exc. one-off) was TRY 38.0 million against TRY 56.3 million a year ago. Pro-forma net sales grew by 24.5% to TL 917.3 million, while net revenue per case increased by 3.9% to TL 4.64. This reflects the positive impact of higher average pricing particularly in Turkey and Central Asia diluted by the full consolidation of Pakistan and inclusion of South Iraq with comparably lower average prices. Pro-forma EBIT excluding other items grew by 118.1% to TL 57.9 million while EBIT margin was up by 2.7 pp to 6.3% due to higher gross profitability. Pro-forma EBITDA excluding other items was climbed by 55.4% to TRY 127.1 million while EBITDA margin was up by 2.8 pp to 13.9%. Consolidated net debt as of March 31, 2013 was USD 754 million The company announced that it is maintaining its guidance for 2013, as inclusion of South Iraq and full consolidation of Pakistan will impact the company's financials throughout the year. The company's guidance for 2013 is mid to high single digit volume growth in Turkey and mid to high teens organic volume growth in international operations while expecting net sales revenue to be ahead of volume growth and a flat to slightly positive EBITDA expansion.

Coca-Cola Icecek A.S., Q1 2013 Earnings Call, May 09, 2013

Coca-Cola Icecek A.S. announced that they will report Q1, 2013 results on May 08, 2013