Coca-Cola Hellenic BC AG: Egypt Investor Event - Off the World Cup stage, onto the investment radar

研报英文原文证据摘录

Coca-Cola Hellenic BC AG: Egypt Investor Event - Off the World Cup stage, onto the investment radar

Equity Research

European Consumer Staples

9 July 2026

Coca-Cola Hellenic BC AG

Egypt Investor Event - Off the

World Cup stage, onto the

CCH.L/CCH LN OVERWEIGHTinvestment radar

European Consumer NEUTRAL

Egypt has become far more than an acquisition integration Staples Price Target GBp 4900

story for CCH. Our Cairo site visit highlighted a market moving Price (07-Jul-26) GBp 5050

into its next phase of growth, with accelerating share gains, a Potential Upside/Downside -3.0% Source: Bloomberg, Barclays Research

scaling energy business, AI-led execution and a blueprint that

could shape CCH's wider African strategy. European Consumer Staples

Laurence Whyatt

+44 (0)20 7773 5324

We attended Coca-Cola HBC’s Egypt 'Bitesize' investor event in person in Cairo, with laurence.whyatt@barclays.com

management positioning Egypt as a live proof point of the group’s integration model. The Barclays, UK

central message was that Egypt has moved from integration to acceleration and is

Warren Ackermanbecoming an important growth platform within the CCH portfolio.

+44 (0)20 3134 1903

warren.ackerman@barclays.comKey Takeaways:

Barclays, UK

• Egypt is now a meaningful earnings driver for the group, ranking as CCH's #3 volume Ashutosh Jain

market and contributing 11% of group volumes. Strong volume growth, improving mix and +91 (0)22 6175 1452

margin are translating scale into earnings. ashutosh.jain@barclays.com

• Growth remains high despite a challenging backdrop, with FY25 organic revenue growth of Stephen Kennealy, CFA

+37% and Q1'26 revenue growth of +26% through high inflation, FX volatility and the boycott +44 (0)20 3555 7835

period. stephen.kennealy@barclays.com