Coca-Cola’s profits in 2020 fall 13%, to 6,392 million

The net attributable profit of the global soft drink giant The Coca-Cola Company in 2020 contracted by 13% compared to the profits recorded in 2019, standing at 7,747 million dollars (6,392 million euros), as reported by the multinational this Wednesday it’s a statement.

The company has attributed the decline in 2020 to the impact of the pandemic on distribution channels for consumption outside the home, such as bars and restaurants.

“The progress we made in 2020, including the actions taken to accelerate the transformation of our company, gives us the confidence to grow again this year. Although uncertainties remain in the short term, we are well positioned to emerge stronger from this crisis. thanks to our purpose and our ambition “, has indicated the president and CEO of the firm, James Quincey.

Net operating income between January and December was 33,014 million dollars (27,250 million euros), 11% less. By geographical area, sales in North America fell 4%, to $ 11,477 million (€ 9,473 million), while sales from Europe, the Middle East and Africa fell by 14%, to $ 6,057 million (€ 5 billion). euros).

In Asia-Pacific, Coca-Cola saw a turnover of 4,722 million (3,898 million euros), 11% less, while in Latin America the drop was 15%, to 3,499 million (2,888 million euros).

On the other hand, the revenue from the bottlers was 6,265 million (5,171 million euros), 16% less, while the global business division, which includes the distribution of Monster or the sales of Costa, contracted a 22%, up to 1,991 million dollars (1,643 million euros).

The cost of the products sold during 2020 was 13,433 million dollars (11,088 million euros), for which it experienced a decrease of 8%. In this way, the company recorded a gross margin of 19,581 million dollars (16,163 million euros), 14% lower than in 2019.

Selling, general and administrative expenses fell 20%, to 9,731 million dollars (8,032 million euros), and the rest of extraordinary operating expenses stood at 853 million dollars (704 million euros).

With respect to financial data for the fourth quarter alone, Coca-Cola posted net attributable profit of $ 1,456 million (€ 1,202 million), down 29%, after posting net operating income of $ 8,611 million ($ 7,107 million). euros), 5% less.

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