Coca-Cola sells a quarter less in Corona crisis
Earnings per share up, however
The US beverage giant Coca-Cola expects the coronavirus pandemic to have a significant impact on its business in the second quarter. Since the beginning of April, the volume sold worldwide has shrunk by around 25 percent, the company announced in Atlanta on Tuesday. This is mainly due to significantly lower demand from commercial customers, with whom the company generates about half of its sales. It is not yet clear how much this will ultimately affect the second quarter and the whole of 2020. It depends to a large extent on how long the contact restrictions will continue to apply, but also on how quickly the economy will recover.
Photo by Taras Chernus on Unsplash
In the first quarter, turnover fell by one percent year-on-year to 8.6 billion US dollars. The bottom line was a profit for the shareholders of almost 2.8 billion US dollars, an increase of 65 percent over the previous year. Earnings per share on a comparable basis increased eight percent to $0.51.
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