Coca-Cola Co. reported strong full-year and fourth quarter 2011 operating results, once again meeting or exceeding its long-term growth targets and gaining full-year volume and value share in total nonalcoholic ready-to-drink (NARTD) beverages as well as in both sparkling and still beverages. The company’s strong 2011 performance, combined with its optimized and advantaged system, positions it well to deliver long-term, sustainable growth.
Muhtar Kent, chairman and chief executive officer of The Coca-Cola Co., said in a prepared statement, “Today, I am pleased to share that The Coca-Cola Co. continues its momentum toward realizing our 2020 Vision, with stronger brands, clear strategies and well-focused execution to drive further growth. We once again achieved financial results for both the year and the quarter in line with, or ahead of, our long-term targets, with quarterly volume and revenue growth in every one of our five geographic operating groups. Importantly, we also continued to increase our global volume and value share in 2011.
“Even as we believe that global market volatility will continue in the near term, the breadth of our global footprint and the strength of our brands create a resilient business that was built for times like these. As we enter into the third year of our 2020 Vision, our Roadmap for Winning Together remains clear. The assumptions that shaped our 2020 Vision have not changed. Our expectations for long-term, sustainable and balanced growth across emerging and developed markets have not wavered. And we will continue to make significant investments in our future all around the world to support the tremendous opportunity we see in nonalcoholic ready-to-drink beverages, one of the fastest growing segments in consumer packaged goods.
“In a world looking for hope, optimism and renewal, Coca-Cola is privileged to be refreshing a thirsty world. Our solid performance reflects the continued investments we have made over time and in every economic condition to strengthen the health of our brands, starting with brand Coca-Cola, the very oxygen of our business. With our well-aligned global bottling system, world-class brands, strong financial discipline and a clear roadmap for growth, we are confident that we will achieve our long-term growth targets and continue to deliver increasing shareowner value. We truly believe we are just getting started and that our best and brightest days lie ahead. Thank you for your continued trust and confidence in The Coca-Cola Co."
The company reported worldwide volume growth of 5 percent for the full year and 3 percent during the quarter. Excluding new cross-licensed brands in North America, primarily Dr Pepper brands (which the company began distributing Oct. 2, 2010), worldwide volume grew 4 percent for the full year, at the high end of our long-term growth target. Volume growth for the full year was well-balanced across the globe, with solid growth in key developed markets like North America, Japan and Germany and double-digit growth in key emerging markets like India and China.
In addition, solid growth continued in countries with per capita consumption of company brands less than 150 8-ounce servings per year, with volume up 6 percent for the full year and 4 percent in the quarter. For both the full year and the quarter, the company grew global volume and value share in NARTD beverages, with volume and value share gains across most beverage categories. Further, our immediate consumption beverages were up 4 percent globally in 2011, driven by focused in-store activation efforts and cold drink equipment expansion.
The company continued to see growth in sparkling beverages, with gains in global volume and value share for the full year and in the quarter. This growth was driven by continued focus on and investment in our brands, starting with brand Coca-Cola.