Swire Pacific Limited Announces 2022 Annual Results

Swire Pacific announces 2022 annual results. Swire Coca-Cola has extended its bottling operations to South East Asia by acquiring the Coca-Cola franchise businesses in Cambodia and Vietnam which enable the business to benefit from strong consumption growth in the area. In addition, following the restructuring of Coca-Cola’s non-sparkling beverage manufacturing operations in the Chinese Mainland, Swire Coca-Cola directly owns and operates six non-sparkling beverage production facilities in the Chinese Mainland. This will improve cost and distribution efficiencies.

Below are the performance highlights of Swire Coca-Cola:

• Swire Coca-Cola made an attributable profit of HK$2,392 million in 2022, a 6% decrease from 2021. The results were adversely affected by COVID-19 related measures in the Chinese Mainland, Hong Kong and Taiwan, partly offset by a strong performance in the USA.
• Total revenue (including that of Shanghai Shen-Mei and excluding sales to other bottlers) increased by 4% to HK$54,727 million.
• Sales volume decreased by 3% to 1,828 million unit cases.
• In the Chinese Mainland and Hong Kong, revenue and volume declined. Revenue and volume grew in Taiwan. In the USA, revenue increased and volume was unchanged.

For more information: https://www.swirepacific.com/en/media/press/p230309a.pdf