Crisis wipes out EUR 27 mln of Coca-Cola Hellenic's revenues in Romania

Coca-Cola Hellenic's net sales revenues in Romania declined by EUR 27.1 million mainly as a result of lower volume posted last year in the country, according to a report presented by the company. Coca-Cola Hellenic previously announced that the Romanian market sales volume dropped by 4 percent to 952.7 million liters because of difficult economic conditions and tough austerity measures that have affected consumer demand. However, sales have increased slightly in the fourth quarter of last year, due to the intense promotion of soft drinks brands. Overall, Coca-Cola Hellenic's income went up by 4 percent to EUR 6.8 billion in 2010, while its net profit advanced by 6 percent to EUR 423.2 million. Coca-Cola Hellenic, the second largest bottler of Coca-Cola products worldwide, has four factories in Romania, in Iasi, Timisoara, Ploiesti and Vatra Dornei, after closing down in 2008 the production unit in Oradea, for efficiency reasons. Get the full financial report here. Irina Popescu, irina.popescu@romania-insider.com