LSE:CCH

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Executive Summary

Coca-Cola HBC AG produces, distributes, and sells non-alcoholic ready-to-drink beverages.


Snowflake Analysis

Good value with proven track record.


Similar Companies

Share Price & News

How has Coca-Cola HBC's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CCH has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.7%

CCH

1.6%

GB Beverage

1.0%

GB Market


1 Year Return

-30.3%

CCH

-20.4%

GB Beverage

-13.7%

GB Market

Return vs Industry: CCH underperformed the UK Beverage industry which returned -21.8% over the past year.

Return vs Market: CCH underperformed the UK Market which returned -15.3% over the past year.


Shareholder returns

CCHIndustryMarket
7 Day-3.7%1.6%1.0%
30 Day-8.8%-4.6%-3.0%
90 Day1.1%8.4%12.3%
1 Year-28.3%-30.3%-18.6%-20.4%-9.7%-13.7%
3 Year0.3%-11.5%24.6%15.6%-1.8%-13.8%
5 Year72.9%46.7%64.7%44.2%16.2%-9.7%

Price Volatility Vs. Market

How volatile is Coca-Cola HBC's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Coca-Cola HBC undervalued compared to its fair value and its price relative to the market?

24.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CCH (£19.73) is trading below our estimate of fair value (£26.01)

Significantly Below Fair Value: CCH is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CCH is good value based on its PE Ratio (16.3x) compared to the Beverage industry average (21x).

PE vs Market: CCH is poor value based on its PE Ratio (16.3x) compared to the UK market (15x).


Price to Earnings Growth Ratio

PEG Ratio: CCH is poor value based on its PEG Ratio (2.3x)


Price to Book Ratio

PB vs Industry: CCH is good value based on its PB Ratio (2.9x) compared to the GB Beverage industry average (2.9x).


Next Steps

Future Growth

How is Coca-Cola HBC forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

7.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CCH's forecast earnings growth (7% per year) is above the savings rate (1.2%).

Earnings vs Market: CCH's earnings (7% per year) are forecast to grow slower than the UK market (21.4% per year).

High Growth Earnings: CCH's earnings are forecast to grow, but not significantly.

Revenue vs Market: CCH's revenue (3.1% per year) is forecast to grow slower than the UK market (3.4% per year).

High Growth Revenue: CCH's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CCH's Return on Equity is forecast to be low in 3 years time (17.7%).


Next Steps

Past Performance

How has Coca-Cola HBC performed over the past 5 years?

10.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CCH has high quality earnings.

Growing Profit Margin: CCH's current net profit margins (6.9%) are higher than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: CCH's earnings have grown by 10.2% per year over the past 5 years.

Accelerating Growth: CCH's earnings growth over the past year (9%) is below its 5-year average (10.2% per year).

Earnings vs Industry: CCH earnings growth over the past year (9%) exceeded the Beverage industry 4.4%.


Return on Equity

High ROE: CCH's Return on Equity (18.1%) is considered low.


Next Steps

Financial Health

How is Coca-Cola HBC's financial position?


Financial Position Analysis

Short Term Liabilities: CCH's short term assets (€3.1B) exceed its short term liabilities (€2.7B).

Long Term Liabilities: CCH's short term assets (€3.1B) exceed its long term liabilities (€2.8B).


Debt to Equity History and Analysis

Debt Level: CCH's debt to equity ratio (115.3%) is considered high.

Reducing Debt: CCH's debt to equity ratio has increased from 73.6% to 115.3% over the past 5 years.

Debt Coverage: CCH's debt is well covered by operating cash flow (29.7%).

Interest Coverage: CCH's interest payments on its debt are well covered by EBIT (11.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Coca-Cola HBC current dividend yield, its reliability and sustainability?

2.84%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CCH's dividend (2.84%) is higher than the bottom 25% of dividend payers in the UK market (1.99%).

High Dividend: CCH's dividend (2.84%) is low compared to the top 25% of dividend payers in the UK market (5.55%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CCH has been paying a dividend for less than 10 years.

Growing Dividend: CCH's dividend payments have increased, but the company has only paid a dividend for 7 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.3%), CCH's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CCH's dividends in 3 years are forecast to be well covered by earnings (43.9% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Zoran Bogdanovic (48yo)

2.58yrs

Tenure

€2,577,000

Compensation

Mr. Zoran Bogdanovic has been the Chief Executive Officer of Coca-Cola HBC AG since December 7, 2017 and has been its Executive Director since June 11, 2018. Mr. Bogdanovic was a Region Director of Bosnia  ...


CEO Compensation Analysis

Compensation vs Market: Zoran's total compensation ($USD2.91M) is about average for companies of similar size in the UK market ($USD3.18M).

Compensation vs Earnings: Zoran's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Zoran Bogdanovic
CEO & Executive Director2.58yrs€2.58m0.083% 5.9m
Michalis Imellos
Chief Financial Officer8.25yrsno data0.078% 5.6m
Mourad Ajarti
Chief Information Officer0.75yrno datano data
Joanna Kennedy
Investor Relations Director1.25yrsno datano data
Jan Gustavsson
General Counsel18.92yrsno data0.059% 4.2m
Sean O'Neill
Group Public Affairs & Communication Director1.5yrsno data0.00026% 18.7k
Sanda Parezanovic
Group Human Resources Director5.08yrsno data0.041% 3.0m
Naya Kalogeraki
Group Chief Customer & Commercial Officer4yrsno data0.0061% 438.1k
Maria Livaniou
Head of Shareowner Servicesno datano datano data
Georgios Polymenakos
Country General Manager of Nigeriano datano datano data

3.3yrs

Average Tenure

51yo

Average Age

Experienced Management: CCH's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Zoran Bogdanovic
CEO & Executive Director2.58yrs€2.58m0.083% 5.9m
George David
Chairman Emeritus4.08yrsno datano data
José Octavio Reyes Lagunes
Non-Executive Director6.08yrs€83.70kno data
William Douglas
Independent Non-Executive Director4.08yrs€102.40k0.0027% 197.5k
Reto Francioni
Senior Independent Non-Executive Directorno data€115.19k0.0019% 137.9k
Christodoulos Leventis
Non-Executive Director6.08yrs€73.50kno data
Anastassis David
Non-Executive Chairman4.5yrs€73.50k0.23% 16.2m
Anastasios Leventis
Non-Executive Director6.08yrs€85.10kno data
Robert Rudolph
Non-Executive Director4.08yrs€79.35kno data
Charlotte Boyle
Independent Non-Executive Director3.08yrs€85.10k0.00028% 20.1k

4.1yrs

Average Tenure

59.5yo

Average Age

Experienced Board: CCH's board of directors are considered experienced (4.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CCH insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Coca-Cola HBC AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Coca-Cola HBC AG
  • Ticker: CCH
  • Exchange: LSE
  • Founded: 1969
  • Industry: Soft Drinks
  • Sector: Food, Beverage & Tobacco
  • Market Cap: UK£7.182b
  • Shares outstanding: 364.10m
  • Website: https://www.coca-colahellenic.com

Number of Employees


Location

  • Coca-Cola HBC AG
  • Turmstrasse 26
  • Steinhausen
  • Zug
  • 6312
  • Switzerland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CCHG.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDApr 2013
CCKCDB (Deutsche Boerse AG)SPONSORED ADRDEEURApr 2013
CCHLSE (London Stock Exchange)YesOrdinary sharesGBGBPApr 2013
EEEATSE (The Athens Stock Exchange)YesOrdinary sharesGREURApr 2013
CCHLBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary sharesGBGBPApr 2013
CCHB.FOTCPK (Pink Sheets LLC)YesOrdinary sharesUSUSDApr 2013
C0QDB (Deutsche Boerse AG)YesOrdinary sharesDEEURApr 2013

Biography

Coca-Cola HBC AG produces, distributes, and sells non-alcoholic ready-to-drink beverages. The company offers sparkling soft drinks; still drinks, including juices and fruit-based drinks, iced tea, and energy and sports drinks; and natural mineral, spring, and processed water. It markets and sells its products under the Coca-Cola, Fanta, Sprite, Amita, Avra, Deep RiverRock, Fruice, and Nestea brand names; and distributes third-party products, such as Monster energy drinks, and beer and premium spirits. The company serves retail outlets, including supermarkets, hypermarkets, discounters, convenience stores, wholesalers, hotels, restaurants, cafés, quick service restaurants, cinemas, and e-commerce retailers. It operates in 28 countries, including Austria, Cyprus, Greece, Italy, Northern Ireland, the Republic of Ireland, Switzerland, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, Slovenia, Armenia, Belarus, Bosnia and Herzegovina, Bulgaria, Moldova, Montenegro, Nigeria, North Macedonia, Romania, Russia, Serbia, and Ukraine. The company was founded in 1969 and is headquartered in Steinhausen, Switzerland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/06 20:48
End of Day Share Price2020/07/06 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.