Coca-Cola HBC raises 2026 earnings outlook as FIFA World Cup sales boost H1 performance

Coca-Cola HBC has upgraded its earnings outlook for 2026 after reporting stronger-than-expected first-half results, supported by resilient consumer demand and increased sales linked to FIFA World Cup promotional activities. 

The company, which bottles and distributes Coca-Cola products across Central and Eastern Europe and Africa, said its partnership with the global sporting event contributed to stronger consumer engagement despite continued economic and geopolitical uncertainty. 

Chief executive officer Zoran Bogdanovic highlighted the importance of collaboration with retail partners during the period. 

“Strong partnerships are at the heart of our business, and successful FIFA World Cup activations with our customers, including unique fan experiences and special-edition Coca-Cola and Powerade packs, were among the highlights of the period,” Bogdanovic said in a statement. 

Coca-Cola HBC now expects organic operating profit growth of between 8% and 10% for the 2026 financial year, compared with its earlier forecast of 7% to 10%. The company also expects annual organic revenue growth to reach the upper end of its projected range of between 6% and 7%. 

For the six months ended July 3, comparable operating profit reached €760.1 million, exceeding analysts’ expectations of €731.1 million. 

Organic net sales revenue increased by 9.6% to €6.23 billion, outperforming market forecasts of €6.15 billion. Organic sales volumes rose by 7.5%, exceeding analysts’ estimates of 6.2%. 

The company attributed the performance to sustained demand across its portfolio, including brands such as Coca-Cola, Sprite, Fanta and Powerade, as well as products in its coffee and energy drink categories. 

Coca-Cola HBC said investments in premium products, expansion into faster-growing beverage segments and increased adoption of artificial intelligence technologies have continued to support growth. The company has increasingly used AI-powered tools to improve pricing strategies, consumer engagement and sales execution. 

Beyond carbonated soft drinks, the company has expanded its presence in energy drinks, coffee products and hydration beverages as part of efforts to diversify revenue streams. 

The company acknowledged that rising raw material and logistics costs remain a challenge. It noted that geopolitical tensions, including disruptions linked to the conflict involving Iran, have increased volatility in the prices of sugar, aluminium, fuel, corn and plastic packaging materials. 

Coca-Cola HBC also confirmed that the acquisition of its African bottling operations remains on track for completion during the second half of the year. 

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