19.08.2024 23:50
Coca-Cola Beverage Co., which was boycotted in Turkey due to Israel's occupation of Gaza, has made a notification to the Public Disclosure Platform (KAP). The company has decided to downsize its future sales volume targets.
Due to the occupation of Gaza by Israel, Coca-Cola İçecek A.Ş., which was boycotted, made a notification to the Public Disclosure Platform (KAP) regarding sales volume.
In a statement from Coca-Cola, it was stated that "due to the sensitivity and politically cautious consumer awareness in the Middle East, which lasted longer than expected, we are revising our sales volume expectation for the whole year from mid-single-digit growth to flat-low-single-digit growth."
REVISING GROWTH EXPECTATIONS
According to the statement made by the company, "Along with the revised volume expectation and slower price increases than initially planned, we are also revising our Currency-Neutral Net Sales Revenue growth expectation from 'low 40s growth' to 'low 30s growth'."
"SLIGHT DECLINE RISK COMPARED TO 2023"
Coca-Cola also made a revision in terms of operational profit and changed its expectation to a slight decline-flat compared to 2023. The statement from the company stated: "In case the operating environment deteriorates further, we see a slight decline risk in EBITDA margin compared to the previous year. By including this potential risk in our expectations, we are changing our EBITDA margin expectation to 'slight decline or flat compared to last year'."
Here is the notification made to KAP: