Pop Goes Out of Greek Coke Sales



coca-cola-hellenicGreece’s biggest company, Coca-Cola Hellenic – planning to move its headquarters to Switzerland – showed a 12 percent drop in profits in the country last year, showing net earnings of 285 million euros, some $379.56 million.

The company blamed the results on a big drop in sales in developed markets to which it distributes, the high cost of raw materials and unfavorable changes in the exchange rate in its report for 2012.

The company said sales in Greece alone fell 14 percent during the country’s crushing economic crisis as consumers hit with big pay cuts, tax hikes and slashed pensions have cut back on spending.

Coke is also under siege from competitors who have cut their prices while discounts for Coca Cola are fewer. Generic brands are also undercutting the company’s business.

The company said it expects the slide to continue this year, although it foresees a smaller hike in raw material costs and less of an effect from exchange rate changes although the euro is gaining in strength. Officials said they expect the public offer acceptance period regarding the acquisition of its shares by Coca-Cola HBC AG in Switzerland to start in mid-March.


15 COMMENTS

  1.  Actually no one at Coca Cola went on strike.  They are leaving because the government isn’t giving them any tax breaks.  You are an idiot.

  2.  I never said anyone at Coke went on strike you “idiot:. However, there are constant strikes and riots in Greece that most decidedly create an unfriendly business environoment.

    I would note to everyone you have yet to say anything negative about the other Skopian trolling this website saying negative things about Greeks? Didn’t you claim under your current handle you are a GD supporter? Where are all your posts denoucing Skopians and communists? What’s the delay?

  3. Greeks can’t figure it out.  They bad mouth Americans. Steal and remake american music Greek Rap Lol  Imitate there fashion, modern culture.  Do you ever wonder why they don’t support Greece.  Have you ever heard the phrase “The Dog wags the tail. The Tail doesn’t wag the Dog”
    Figure out why American companys are not in the most beautiful place in the world Greece and they choose to be elsewhere. 
    Support your Local Business small minded
    Support the US Big Minded
    They will suport local businesses

  4. We are idiots.  We always align ourselves with the most pathetic groups (Libyans, Palestinans, Serbians) when we should be aligning ourselves with Western Nations.  Every time something happened, a group of idiots would march to the US embassy to protest. Its like Greek people want to drive a BMW and wear Prada sunglasses but on the other hand, they want to be best friends with Fidel Castro and old Russian communists like Putin.  Now look at them.  They are the beggars of Europe.

  5.  This article is about coca cola, if you keep making comments on other articles, that is your problem.  They are not leaving because of an unfriendly environment you idiot.  They are leaving for tax reasons.  Since this great government is changing taxes for the worst, they decided to pick up and leave.  YOU ARE A WASTE KOSTA

  6. I have never used the handle Kosta you moron. I told this to your Skopian pal. If you like to call me Kosta that’s fine. Only further illustrates with an idiot you Skopian trollers are.

  7.  It’s the leftist mentality of entitlement that is chiefly poisoning Greece. Too many leftists are anti-business (and imo some even anti-Hellenic and treasonous – see Greek civil war).

  8. Hey didn’t you claim to be a Golden Dawn voter? Still waiting to see your anti-Skopian anti-Communist posts Mr. Golden Dawn.

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