2022 Performance Highlights

In March 2023, Swire Pacific released its 2022 annual results, revealing that while Swire Coca-Cola’s business performance in 2022 was adversely affected by measures related to COVID-19 in Greater China and by cost pressures, these adverse effects were offset to a significant degree by a strong performance in the USA.

Also noteworthy was the extension of Swire Coca-Cola’s bottling operations to South East Asia with the acquisition of Coca-Cola franchise businesses in Cambodia and Vietnam. This has increased its total franchise population to 882 million people; and it is expected that the business will benefit from strong consumption growth in the area.

In addition, following the restructuring of Coca-Cola’s non-sparkling beverage manufacturing operations on the Chinese Mainland, Swire Coca-Cola now directly owns and operates six non-sparkling beverage production facilities on the Chinese Mainland, which 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 measures related to COVID-19 in the Chinese Mainland, Hong Kong and Taiwan, yet 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.
• On the Chinese Mainland and in 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)
 
With the lifting of COVID-19 measures in Greater China and the growth opportunities emerging in our newly-acquired businesses in Cambodia and Vietnam, we look forward to achieving an even stronger performance in 2023, creating wins for all our stakeholders.