Coca-Cola Weathers Several Storms Since 2013 To Find Smoother Sailing

A number of “qualifications” – particularly restructuring costs, currency ups and downs, and ongoing bottler refranchising – make Coca-Cola’s five-year financial performance a little cloudy. But an analysis by just-drinks reveals “modest, if not spectacular, growth” globally. Among the highlights: a gradual shift in emphasis in global product mix due to evolving consumer trends; the success of RTD tea and coffee, packaged water, and sports drinks; overall market share gains in major regions, fueled by a rising global middle class, increased urbanization, and higher spending on personal consumption; an increase in billion-dollar brands to 20; and a reduction to three percent of volume from company-owned bottlers thanks to refranchising in China and the U.S. through 2016 and 2017 that led to lower sales (down 15 percent) but higher margins in a brand-led but less capital-intensive operation.