LONDON, July 6, 2026, 23:03 BST
- Coca-Cola HBC lost 2.8% to 5,025p, making it the third-worst performer on the FTSE 100 on Monday.
- The shares finished 2.1% higher than where they closed on June 30, after reaching a year high at 5,195p.
- Emerging markets are expected to account for 55% of FY26 comparable EBIT. That puts a spotlight on Tuesday’s event in Egypt.
Coca-Cola HBC AG (LON:CCH) dropped 145p, down 2.81% at 5,025p on Monday. That was the third-biggest faller on the FTSE 100 after Compass Group and Associated British Foods. The FTSE 100 index slipped 0.26% to end at 10,651.77.
CCH didn’t snap its rally on the drop. Shares climbed 5.1% from June 30 to July 3, reached 5,195p on Monday, and closed up 2.1% from June 30. Trading volume was 527,780 shares, up from 326,410 on Friday.
The main thing now is Egypt. It’s not about another UK consumer data point. Coca-Cola HBC has a July 7 Bitesize event on its calendar focused on Egypt, featuring COO Naya Kalogeraki and the Egypt team, plus a Q&A with CEO Zoran Bogdanovic and the CFO.
Fresh headlines out of Egypt set a firmer tone at the meeting. Ahram Online reported Coca-Cola HBC has opened a digital center in Cairo aimed at 27 markets, starting with 250 hires and planning to hit 450 by 2027. Egypt’s annual digital exports are projected to see a $34 million boost from the move. Amwal Al Ghad, quoting Egypt’s Cabinet, said the company plans an extra $1.28 billion investment in the country by 2030, on top of more than $1.1 billion it is spending from 2022 to 2025. Mourad Ajarti, chief digital transformation and technology officer for the group, said Egypt was chosen for its “qualified workforce” and “advanced technological infrastructure.” Ahram Online
This matters to investors because Egypt is part of Emerging markets, the group’s best-performing large segment. In Q1, Emerging markets’ organic revenue went up 15.0%, topping the group’s 11.6%. The segment accounted for 455.9 million out of 706.0 million unit cases and brought in 1.326 billion euros of the group’s 2.710 billion euros net sales revenue. Bogdanovic said Q1 was “a good start to the year” and left 2026 guidance unchanged. Investegate
Vuma’s public consensus, last updated April 16, gives the segment’s numbers. These are from public consensus, not company guidance.
| FY26 forecast | Net sales revenue | Share of group | Comparable EBIT | Share of group |
|---|---|---|---|---|
| Established markets | €3.70 bln | 30.0% | €397 mln | 26.9% |
| Developing markets | €2.69 bln | 21.8% | €261 mln | 17.7% |
| Emerging markets | €5.93 bln | 48.2% | €816 mln | 55.4% |
| Total group | €12.32 bln | 100.0% | €1.47 bln | 100.0% |
The finance cost forecast is where things changed. Back in May, Coca-Cola HBC said it used bond issuance for the 1.4 billion euro payment in the Coca-Cola Beverages Africa deal, bumping up its 2026 net finance cost view to 45 million to 65 million euros, previously 25 million to 45 million euros. The public consensus, not updated after the guidance, still has FY26 net finance costs at 29 million euros.
| Measure | Company 2026 guidance/action | Public consensus FY26 | Public consensus FY27 |
|---|---|---|---|
| Organic revenue growth | 6%-7% | 6.3% | 6.3% |
| Organic comparable EBIT growth | 7%-10% | 9.2% | 8.6% |
| Net finance costs | €45 mln-€65 mln | €29 mln | €46 mln |
| Comparable EPS | — | €2.90 | €3.18 |
| Free cash flow | — | €711 mln | €776 mln |
The African transaction brings the biggest change to earnings. Coca-Cola Company NYSE:KO and Gutsche Family Investments have agreed to sell a 75% controlling stake in Coca-Cola Beverages Africa to Coca-Cola HBC, valuing the unit at $3.4 billion. The deal is set to close by end-2026. Coca-Cola HBC can also buy the last 25% from Coca-Cola within six years.
The company will next report 2026 half-year numbers on Aug. 5. But first comes the Egypt presentation on Tuesday, which will focus on local volumes, pack mix, and updates on digital sales tools.
