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Coca-Cola Amatil Limited - Report HY19 Results

Jordan Baird

Jordan Baird is the head ASR Wealth Advisers client services desk and has been with the organisation since 2017. He first started investing in his early years. While he believes that investors should leave no stone unturned he has a particular interest in trading based on broad macroeconomic trends along with specific analysis of innovative up-and-coming companies.

Coca-Cola Amatil Limited (ASX: CCL) is a bottler and distributor of non-acholic and acholic beverages that operates in the Asia pacific region and owns the licences for the distribution of Coca-Cola throughout Australia. The Company has a diverse product range that services over 850,000 customers, CCL is also a primary shareholder in the Coca-Cola Company owning 29.4% and acts as a brand partner.

Coca Cola - FY19 results

What are the HY19 results for CCL?

This morning (22nd August 2019) Coca-Cola Amatil reported its HY19 results that are highlighted below:

  • Statutory earnings before interest and tax (EBIT) up 4.7% to $273.5m
  • Statutory net profits after tax (NPAT) up 6.3% to $168m
  • Total half year dividend distribution of 25 cents per share
  • Earnings per share (EPS) grew by 6.4% to 23.2 cents.


What are the key drivers of this result?

The Australian beverage sector reported reduced sales volumes for CCL down 1.2% however double-digit growth has continued in the energy and dairy markets. Earning have benefited from the NSW container deposit scheme as well as volume growth in non-sugar options. Offshore markets proved to return higher growth for CCL with Indonesian sales volumes increasing by single digits, whilst New Zealand, Fiji and Papa new Guinea also produced increased sales volumes.  The Company’s strategy for the remainder of FY19 involves a must win approach to leading market share in the cola and water beverage categories, CCL is aware of the increases in sales volumes it must achieve in order to meet this goal by the end of FY19.


What is the future outlook for CCL?

Coca-Cola Amatil is expecting to complete its two-year transition period by the end of FY19, this included accelerating Australian growth and embedding container deposit schemes within its business model. The Company offered guidance of returning to mid-single digit EPS growth in 2020 and returning a medium-term dividend payout ratio of 80%. CCL is expecting capital expenditure for FY19 to be approximately $300m.


How has the market reacted?

The market has responded positively with the share price rising 4.45% to a price of $10.90 as investor are encouraged by the 6.3% growth in NPAT.




This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)

(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).

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ASR has no position in any of the stocks mentioned.

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