Atlanta, October 20, 2009 - The Coca-Cola Company reports sound third quarter 2009 operating results with unit case volume increasing 2 percent, successfully cycling 5 percent growth in the prior year quarter. Internationally, we achieved broad-based unit case volume growth of 4 percent, cycling 7 percent growth in the prior year quarter. In the quarter, unit case volume growth increased strongly in key emerging markets with 37 percent growth in India, 15 percent growth in China and 3 percent growth in Brazil.
Globally, we gained volume and value share in nonalcoholic ready-to-drink beverages for the ninth consecutive quarter. The global "Open Happiness" campaign continued to fuel growth of brand Coca-Cola. Notably, brand Coca-Cola unit case volume growth was strong, up 2 percent in the quarter, across both developed and emerging markets including 8 percent growth in Mexico, 6 percent growth in Italy, 27 percent growth in India and 3 percent growth in China. Total sparkling beverage unit case volume increased 1 percent in the quarter, with international sparkling beverage unit case volume increasing 2 percent, cycling 5 percent growth in the prior year quarter. Total still beverage unit case volume increased 7 percent in the quarter, led by sound growth across the portfolio, including juices and fruit stills, teas and water brands. Still beverage unit case volume increased 10 percent internationally and was even in North America.
"I am pleased to report that we have again delivered solid results this quarter," said Muhtar Kent, chairman and chief executive officer, The Coca-Cola Company. "We continue to grow our currency neutral revenues, gain global nonalcoholic ready-to-drink volume and value share, expand our margins and invest in our business, all while generating tremendous cash flow. The fundamentals of our business remain strong and our franchise system is delivering results that keep us on track to achieve our long-term growth expectations. Although we expect the consumer to continue facing economic uncertainties into 2010 and for consumer sentiment to recover slowly, we believe more than ever that we have the right strategies being executed, the right leadership team in place and have taken the right actions this year to drive continued growth and to make the most of the abundant opportunities before us."
"This is a dynamic time in the history and evolution of our Company," said Mr. Kent. "With our 2020 Vision, we have a clear Coca-Cola system vision for the future of our business, and we are applying that vision in our strategic planning, system alignment and focused execution. Each day we work diligently to make our Company stronger for the future and to ensure that we continue driving long-term sustainable results, while delivering the beverages that consumers love."
Financial Highlights
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Year-to-date reported net revenues decreased 5 percent. After excluding structural items, year-to-date net revenues increased 5 percent on a comparable currency neutral basis, in line with our long-term growth target.
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Year-to-date reported operating income decreased 4 percent. With continued focus on cost management and by leveraging our productivity initiatives, year-to-date operating income increased 9 percent on a comparable currency neutral basis, exceeding our long-term growth target.
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Year-to-date cash from operations increased to $6.3 billion, and we repurchased $241 million of our stock in the third quarter