Coca Cola HBC

Profit & Loss
Statements for the Full Year Ending 31 Dec

Volume
y-o-y change
Net Sales Revenue
y-o-y change
COGS
y-o-y change
Comparable COGS
y-o-y change
Gross Profit
y-o-y change
Comparable Gross Profit
y-o-y change
Comparable Gross Profit Margin (%)
Operating expenses
y-o-y change
Comp. Operating Expenses
y-o-y change
Comp. Operating Expenses/ NSR (%)
EBITDA
y-o-y change
Comparable EBITDA
y-o-y change
EBIT
y-o-y change
Comparable EBIT
y-o-y change
Comparable EBIT Margin (%)
Total net financing costs
y-o-y change
Share of results of equity method investments
y-o-y change
Profit before Tax
y-o-y change
Comparable Profit before Tax
y-o-y change
Tax
y-o-y change
Comparable Tax
y-o-y change
Non-controlling interest
y-o-y change
Net profit after Tax
y-o-y change
Comparable Net profit after Tax
y-o-y change
Basic Earnings per Share
y-o-y change
Comparable Basic Earnings per Share
y-o-y change
2008
2,115.5
4.8%
6,980.7
8.0%
(4,169.6)
10.0%
(4,161.2)
9.0%
2,811.1
6.0%
2,808.9
6.0%
40.2%
(2,356.5)
21.0%
(2,148.6)
10.0%
-30.8%
1,039.0
14.9%
1,039.4
14.9%
454.6
-35.0%
660.3
-6.0%
9.5%
(108.4)
26.0%
0.1
n/a
346.3
-44.0%
552.1
-10.0%
(106.4)
-17.0%
(111.1)
-13.0%
12.3
-15.0%
227.6
-52.0%
424.0
-10.0%
0.62
-52.0%
1.16
-10.0%
2009
2,069.3
-2.2%
6,543.6
-6.3%
(3,905.5)
-6.3%
(3,905.5)
-6.1%
2,638.1
-6.2%
2,638.1
-6.1%
40.3%
(1,999.3)
-15.2%
(1,987.2)
-7.5%
-30.4%
1,019.3
-1.9%
1,021.2
-1.8%
638.8
40.5%
650.9
-1.4%
9.9%
(72.8)
-32.8%
(1.9)
n/a
564.1
62.9%
550.3
-0.3%
(142.5)
33.9%
(147.2)
32.5%
22.4
82.1%
399.2
75.4%
417.1
-1.6%
1.09
75.8%
1.20
3.4%
2010
2,100.0
1.5%
6,793.6
3.8%
(4,048.6)
3.7%
(4,048.6)
3.7%
2,745.0
4.1%
2,745.0
4.1%
40.4%
(2,095.1)
4.8%
(2,058.4)
3.6%
-30.3%
1,051.5
3.2%
1,088.5
6.6%
649.9
1.7%
686.6
5.5%
10.1%
(75.7)
4.0%
2.5
n/a
576.7
2.2%
613.4
11.5%
(138.0)
-3.2%
(146.7)
-0.3%
12.1
-46.0%
426.6
6.9%
453.1
8.6%
1.17
7.3%
1.25
4.2%
2011*
2,087.4
-0.6%
6,824.3
0.5%
(4,254.7)
5.1%
(4,253.3)
5.1%
2,569.6
-6.4%
2,571.0
-6.3%
37.7%
(2,119.3)
1.2%
(2,048.2)
-0.5%
-30.0%
852.2
-19.0%
905.4
-16.8%
450.3
-30.7%
522.8
-23.9%
7.7%
(95.2)
25.8%
9.4
276.0%
364.5
-36.8%
437.0
-28.8%
(98.8)
-28.4%
(110.0)
-25.0%
1.3
-89.3%
264.4
-38.0%
325.6
-28.1%
0.73
-37.7%
0.90
-28.2%
ADJUSTED
2012*
2,084.7
-0.1%
7,044.7
3.2%
(4,522.2)
6.3%
(4,517.7)
6.2%
2,522.5
-1.8%
2,527.0
-1.7%
35.9%
(2,184.8)
3.1%
(2,073.9)
1.3%
-29.4%
757.6
-11.1%
838.8
-7.4%
337.7
-25.0%
453.1
-13.3%
6.4%
(90.7)
-4.7%
11.6
23.4%
258.6
-29.1%
374.0
-14.4%
(65.2)
-34.0%
(85.5)
-22.3%
3.0
130.8%
190.4
-28.0%
285.5
-12.3%
0.52
-28.2%
0.78
-12.5%
2013*
2,060.5
-1.2%
6,874.0
-2.4%
(4,438.5)
-1.9%
(4,433.0)
-1.9%
2,435.5
-3.4%
2,441.0
-3.4%
35.5%
(2,061.8)
-5.6%
(1,987.1)
-4.2%
-28.9%
756.1
-0.2%
822.6
-1.9%
373.7
10.7%
453.9
0.2%
6.6%
(91.5)
0.9%
11.9
2.6%
294.1
13.7%
382.4
2.2%
(72.9)
11.8%
(89.3)
4.4%
0.0
-100.0%
221.2
16.2%
293.1
2.7%
0.61
16.3%
0.81
2.8%
Balance Sheet
2008
2009
2010
2011*
2012*
2013*
Total non-current assets
5,140.4
5,048.3
5,281.2
5,228.4
5,279.3
5,123.2
Inventories
Receivables
Cash and cash equivalent
Total current assets
475.5
1,181.3
724.6
2,381.4
425.1
1,091.4
232
1,748.5
481.7
1,121.7
326.1
1,929.5
447.7
1,120.0
447.4
2,015.1
458
1,073.7
439.1
1,970.8
429
985.1
737.5
2,151.6
Total assets
7,521.8
6,796.8
7,210.7
7,243.5
7,250.1
7,274.8
Short-term borrowings
Other current liabilities
Total current liabilities
921.3
1,353.3
2,274.6
307.0
1,335.6
1,642.6
535.1
1,501.3
2,036.4
321.5
1,589.6
1,911.1
555.0
1,667.3
2,222.3
446.2
1,619.9
2,066.1
Long-term borrowings
Other non-current liabilities
Total non-current liabilities
1,893.3
423.1
2,316.4
2,100.6
457.7
2,558.3
1,656.4
457.1
2,113.5
1,939.8
472.4
2,412.2
1,604.7
416.6
2,021.3
1,853.6
387.8
2,241.4
Total equity
2,930.8
2,595.9
3,060.8
2,920.2
3,006.5
2,967.3
Total equity and liabilities
7,521.8
6,796.8
7,210.7
7,243.5
7,250.1
7,274.8
2008
2009
2010
2011*
2012*
2013*
Adjusted EBITDA**
Changes in Working Capital
Gains on disposal of non-current assets
Tax paid
Net cash from operation activities
1,039.0
(19.6)
(12.3)
(129.8)
877.3
1,019.3
56.7
10.5
(89.3)
997.2
1,051.5
64.2
13.2
(141.0)
987.9
852.2
61.3
3.2
(88.4)
828.3
757.6
84.1
6.9
(95.0)
753.6
756.1
98.5
(13.6)
(56.1)
784.9
Net Capital Expenditure***
(615.3)
(451.0)
(439.4)
(401.1)
(412.3)
(372.2)
Free cash flow
262.0
546.2
548.5
427.2
341.3
412.7
Cash Flow Statement
NOTES
Financial indicators on a comparable basis exclude the recognition of restructuring costs and non -recurring items.
In addition, since 2011, financial indicators on a comparable basis exclude the recognition of unrealised
commodity hedges
(*) Financial information for fiscal years 2011 and 2012 reflects the group's adoption of IFRS 10 Consolidated
Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interest in other Entities and the
revised IAS 19 Employee Benefits.
(**) Adjusted EBITDA refers to operating profit before deductions for depreciation and impairment of property,
plant and equipment (included both in cost of goods sold and in operating expenses), amortisation and
impairment of intangible assets, employee share options and other non-cash items, if any.
(***) Net capital expenditure is defined as payments for purchases of property, plant and equipment, net of
proceeds from sales of property, plant and equipment including principal repayments of finance lease obligations.
(in m unit cases)

Volume - Reported
2008
2009
2010*
2011*
2012*
ADJUSTED
2013*
Established
Austria
y-o-y chng
Greece
y-o-y chng
Cyprus
y-o-y chng
Ireland
y-o-y chng
Italy
y-o-y chng
Switzerland
y-o-y chng
TOTAL Established
y-o-y chng
82.7
-5%
163.4
2%
17.3
12%
79.8
0%
268.4
4%
80.5
2%
692.1
2%
77.2
-7%
161.5
-1%
17.3
0%
76.5
-4%
330.3
23%
80.4
0%
743.2
7%
90.4
17%
143.0
-11%
16.1
-7%
75.2
-2%
323.0
-2%
84.0
4%
731.7
-2%
90.8
0%
126.0
-12%
15.5
-4%
75.5
0%
320.3
-1%
85.4
2%
713.5
-2%
92.6
2%
108.6
-14%
15.9
3%
70.9
-6%
309
-4%
82.4
-4%
679.4
-5%
91.6
-1%
97.9
-10%
15.8
-1%
72.5
2%
289.8
-6%
83
1%
650.6
-4%
Developing
Croatia
y-o-y chng
Czech Republic
y-o-y chng
Baltics
y-o-y chng
Hungary
y-o-y chng
Poland
y-o-y chng
Slovakia
y-o-y chng
Slovenia
y-o-y chng
TOTAL Developing
y-o-y chng
30.0
3%
56.7
-3%
27.6
0%
91.8
4%
171.4
13%
22.4
9%
6.7
16%
406.6
6%
28.4
-5%
54.3
-4%
21.4
-22%
87.3
-5%
167.7
-2%
22.5
0%
6.7
0%
388.3
-5%
27.3
-4%
58.2
7%
21.5
0%
85.1
-3%
168.6
1%
24.2
8%
6.8
1%
391.7
1%
26.8
-2%
58.4
0%
22.5
5%
86.1
1%
173.5
3%
25.4
5%
7.0
3%
399.7
2%
26.5
-1%
56.0
-4%
23.9
6%
83.2
-3%
172.6
-1%
24.5
-4%
6.8
-3%
393.5
-2%
26.0
-2%
55.3
-1%
25.5
7%
77.9
-6%
167
-3%
22.9
-7%
6.4
-6%
381.0
-3%
6.5
25%
20.7
13%
16.6
11%
71.4
14%
9.3
-21%
5.9
-9%
165.9
11%
198.0
11%
346.2
-2%
100.8
10%
75.5
13%
1,016.8
6%
2,115.5
5%
5.8
-11%
19.6
-5%
17.1
3%
64.2
-10%
8.8
-5%
4.4
-25%
175.8
6%
174.1
-12%
299.7
-13%
93.7
-7%
74.6
-1%
937.8
-8%
2,069.3
-2%
6.4
10%
24.4
24%
16.6
-3%
58.4
-9%
4.8
9%
183.9
5%
167.8
-4%
341
14%
101.9
9%
76.3
2%
981.5
5%
2,104.9
2%
6.6
3%
29.5
21%
17.9
8%
56.3
-4%
5.5
15%
185.2
1%
160.7
-4%
335.9
-1%
93.6
-8%
83
9%
974.2
-1%
2,087.4
-1%
7.1
8%
32.8
11%
18.5
3%
56.6
1%
6.2
13%
181.9
-2%
162.7
1%
371
10%
87.7
-6%
87.3
5%
1,011.8
4%
2,084.7
0%
7.8
10%
42.7
30%
16.6
-10%
55.7
-2%
5.9
-5%
202.5
11%
148.5
-9%
388
5%
78.6
-10%
82.6
-5%
1,028.9
2%
2,060.5
-1%
Emerging
Armenia
y-o-y chng
Belarus
y-o-y chng
Bosnia
y-o-y chng
Bulgaria
y-o-y chng
FYROM
y-o-y chng
Moldova
y-o-y chng
Nigeria
y-o-y chng
Romania
y-o-y chng
Russia
y-o-y chng
Ukraine
y-o-y chng
Serbia&Montenegro
y-o-y chng
TOTAL Emerging
y-o-y chng
Total CCH
y-o-y chng
Note: (*) 2010, 2011, 2012 volume is adjusted to reflect the groups adoption of IFRS 10 Consolidated Financial
Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interest in Other Entities.
Volume
Established
y-o-y change
Developing
y-o-y change
Emerging
y-o-y change
Total Hellenic
y-o-y change
2008
692.1
2.0%
406.6
6.5%
1,016.8
6.1%
2,115.5
4.8%
2009
743.2
7.4%
388.3
-4.5%
937.8
-7.8%
2,069.3
-2.2%
2010
718.2
-3.4%
391.7
0.9%
990.1
5.6%
2,100.0
1.5%
2011*
713.5
-0.7%
399.7
2.0%
974.2
-1.6%
2,087.4
-0.6%
ADJUSTED
2012*
679.4
-4.8%
393.5
-1.6%
1011.8
3.9%
2,084.7
-0.1%
2013*
650.6
-4.2%
381
-3.2%
1028.9
1.7%
2,060.5
-1.2%
Net Sales Revenue

Established
y-o-y change
Developing
y-o-y change
Emerging
y-o-y change
Total Hellenic
y-o-y change
2008
2,704.0
2.6%
1,348.4
13.7%
2,928.3
10.9%
6,980.7
8.0%
2009
2,927.8
8.3%
1,149.1
-14.8%
2,466.7
-15.8%
6,543.6
-6.3%
2010
2,834.6
-3.2%
1,140.0
-0.8%
2,819.0
14.3%
6,793.6
3.8%
2011*
2,834.8
0.0%
1,161.5
1.9%
2,828.0
0.3%
6,824.3
0.5%
ADJUSTED
2012*
2,701.8
-4.7%
1,148.1
-1.2%
3,194.8
13.0%
7,044.7
3.2%
2013*
2,539.6
-6.0%
1,105.6
-3.7%
3,228.8
1.1%
6,874.0
-2.4%
Currency Neutral NSR per case

Established
y-o-y change
Developing
y-o-y change
Emerging
y-o-y change
Total Hellenic
y-o-y change
ADJUSTED
ADJUSTED
ADJUSTED
2010
2011*
2012*
2013*
Reported FX Neutral Reported FX Neutral Reported FX Neutral Reported FX Neutral
3.95
3.89
3.97
3.92
3.98
3.95
3.90
3.93
-1.3%
-0.8%
-0.5%
-1.2%
2.91
2.80
2.91
2.93
2.92
2.97
2.90
2.94
-5.4%
0.8%
2.1%
0.9%
2.85
2.69
2.90
3.06
3.16
3.11
3.14
3.27
2.4%
7.5%
6.1%
3.5%
3.24
3.12
3.27
3.33
3.38
3.36
3.34
3.42
-1.3%
2.9%
2.2%
1.1%
EBIT
Established
y-o-y change
margin
Developing
y-o-y change
margin
Emerging
y-o-y change
margin
Total Hellenic
y-o-y change
margin
2008
79.6
2.9%
118.6
8.8%
256.4
8.8%
454.6
6.5%
2009
297.6
273.9%
10.2%
86.3
-27.2%
7.5%
254.9
-0.6%
10.3%
638.8
40.5%
9.8%
2010
268.9
-9.6%
9.5%
89.2
3.4%
7.8%
291.8
14.5%
10.4%
649.9
1.7%
9.6%
ADJUSTED
2011*
2012*
201.4
92.5
-25.1%
-54.1%
7.1%
3.4%
58.4
(8.7)
-34.5%
-114.9%
5.0%
-0.8%
190.5
253.9
-34.7%
33.3%
6.7%
7.9%
450.3
337.7
-30.7%
-25.0%
6.6%
4.8%
2013*
88.6
-4.2%
3.5%
36.6
>100%
3.3%
248.5
-2.1%
7.7%
373.7
10.7%
5.4%
Comparable EBIT
Established
y-o-y change
margin
Developing
y-o-y change
margin
Emerging
y-o-y change
margin
Total Hellenic
y-o-y change
margin
2008
256.5
9.5%
118.6
8.8%
285.2
9.7%
660.3
9.5%
2009
327.6
27.7%
11.2%
97.0
-18.2%
8.4%
226.3
-20.7%
9.2%
650.9
-1.4%
9.9%
ADJUSTED
2010 2011*
2012*
294.6
249.0
160.0
-10.1%
-15.5%
-35.7%
10.4%
8.8%
5.9%
91.5
76.0
26.8
-5.7%
-16.9%
-64.7%
8.0%
6.5%
2.3%
300.5
197.8
266.3
32.8%
-34.2%
34.6%
10.7%
7.0%
8.3%
686.6
522.8
453.1
5.5%
-23.9%
-13.3%
10.1%
7.7%
6.4%
2013*
149.6
-6.5%
5.9%
41.6
55.3%
3.8%
262.7
-1.4%
8.1%
453.9
0.2%
6.6%
NOTES
(1) Financial indicators on a comparable basis exclude the recognition of restructuring costs and
non -recurring items. In addition, since 2011, financial indicators on a comparable basis exclude
the recognition of unrealised commodity hedges
(2) FX neutral revenue per case is calculated based on the assumption of what the current period
EUR revenue per case would have been if the foreign currency rates had remained the same to
the comparable prior year period. FX neutral net sales revenue per case is a non-GAAP financial
indicators. Non-GAAP financial indicators are unaudited.
(*) Financial information for fiscal years 2011 and 2012 reflects the group's adoption of IFRS 10
Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interest
in other Entities and the revised IAS 19 Employee Benefits.
(**) Adjusted EBITDA refers to operating profit before deductions for depreciation and impairment
of property, plant and equipment (included both in cost of goods sold and in operating
expenses), amortisation and impairment of intangible assets, employee share options and other
(***)FX Neutral Revenues per case in 2012 are adjusted and exclude Belarus (due to the hyperinflation
impact of Belarus); therefore figures in the table for 2012 are not comparable with 2011 due to the
Hyperinflation Adjustments
Profit & Loss
2010
2011
2012
2012*
2013*
Q1
Q2
Q3
Q4
FY10
Q1
Q2
Q3
Q4
FY11
Q4*
FY11*
Q1
Q2
Q3
Q4
FY12
Q1*
Q2*
Q3*
Q4*
FY12*
Q1*
Q2*
Q3*
Volume
431.1
577.9
610.5
480.5
2,100.0
433.8
602.5
581.7
465.4
2,083.4
466.3
2,087.4
425.5
585.0
594.0
476.1
2,080.6
427.0
586.6
594.2
476.9
2,084.7
426.7
577.7
575.0
y-o-y change
-2.0%
-2.5%
4.6%
6.2%
1.5%
0.6%
4.3%
-4.7%
-3.1%
-0.8%
-3.0%
-0.6%
-1.9%
-2.9%
2.1%
2.3%
-0.1%
n/a
n/a
n/a
2.3%
-0.1%
-0.1%
-1.5%
-3.2%
1,998.6
1,494.9
6,793.6
1,416.1
1,929.8
1,528.8
6,854.3
1,524.1
6,824.3
1,436.5
7,078.3
1,433.4
7,044.7
1,431.9
Net Sales Revenue

y-o-y change
COGS
y-o-y change
Comparable COGS
1,377.0
1,923.1
1,979.6
1,995.6
2,036.3
1,609.9
1,985.7
2,020.8
1,604.8
1,949.2
1,918.3
0.2%
1.7%
6.0%
7.3%
3.8%
2.8%
2.9%
-3.4%
2.3%
0.9%
2.0%
0.5%
1.4%
0.8%
5.5%
5.3%
3.3%
n/a
n/a
n/a
5.3%
3.2%
-0.1%
-1.8%
-5.1%
(841.9)
(1,113.1)
(1,161.1)
(932.5)
(4,048.6)
(894.5)
(1,201.4)
(1,179.9)
(983.0)
(4,258.8)
(980.1)
(4,254.7)
(940.1)
(1,255.0)
(1,281.2)
(1,055.3)
(4,531.6)
(938.0)
(1,253.4)
(1,279.4)
(1,051.4)
(4,522.2)
(951.5)
(1,235.8)
(1,210.9)
-2.2%
1.2%
5.8%
10.1%
3.7%
-6.2%
-7.9%
-1.6%
-5.4%
-5.2%
-5.1%
-5.1%
-5.1%
-4.5%
-8.6%
-7.4%
-6.4%
n/a
n/a
n/a
-7.3%
-6.3%
-1.4%
1.4%
5.4%
(1,212.5)
(841.9)
(1,113.1)
(1,161.1)
(932.5)
(4,048.6)
(894.5)
(1,201.4)
(1,179.3)
(982.2)
(4,257.4)
(979.3)
(4,253.3)
(942.3)
(1,248.6)
(1,282.4)
(1,053.8)
(4,527.1)
(940.2)
(1,247.0)
(1,280.6)
(1,049.9)
(4,517.7)
(949.2)
(1,234.0)
y-o-y change
-2.2%
1.2%
5.8%
10.1%
3.7%
-6.2%
-7.9%
-1.6%
-5.3%
-5.2%
-5.0%
-5.1%
-5.3%
-3.9%
-8.7%
-7.3%
-6.3%
n/a
n/a
n/a
-7.2%
-6.2%
-1.0%
1.0%
5.3%
Gross Profit
535.1
810.0
837.5
562.4
2,745.0
521.6
778.2
749.9
545.8
2,595.5
544.0
2,569.6
496.4
740.6
755.1
554.6
2,546.7
495.4
732.3
741.4
553.4
2,522.5
480.4
713.4
707.4
y-o-y change
4.3%
2.4%
6.3%
3.0%
4.1%
-2.5%
-3.9%
-10.5%
-3.0%
-5.4%
-3.3%
-6.4%
-4.8%
-4.8%
0.7%
1.6%
-1.9%
n/a
n/a
n/a
1.7%
-1.8%
-3.0%
-2.6%
-4.6%
Comparable Gross profit
535.1
810.0
837.5
562.4
2,745.0
521.6
778.2
750.5
546.6
2,596.9
544.8
2,571.0
494.2
747.0
753.9
556.1
2,551.2
493.2
738.7
740.2
554.9
2,527.0
482.7
715.2
705.8
y-o-y change
GP Margin
4.2%
38.9%
2.4%
42.1%
6.3%
41.9%
3.0%
37.6%
4.1%
40.4%
-2.5%
36.8%
-3.9%
39.3%
-10.4%
38.9%
-2.8%
35.8%
-5.4%
37.9%
-3.1%
35.7%
-6.3%
37.7%
-5.3%
34.4%
-4.0%
37.4%
0.5%
37.0%
1.7%
34.5%
-1.8%
36.0%
n/a
34.4%
n/a
37.2%
n/a
36.6%
1.9%
34.6%
-1.7%
35.9%
-2.1%
33.7%
-3.2%
36.7%
-4.6%
36.8%
(482.7)
(546.3)
(550.3)
(515.8)
(2,095.1)
(504.0)
(563.9)
(538.7)
(520.5)
(2,127.1)
(519.8)
(2,119.3)
(509.2)
(557.9)
(544.1)
(585.4)
(2,196.6)
(507.7)
(555.6)
(539.7)
(581.8)
(2,184.8)
(491.7)
(568.1)
(501.8)
Operating expenses (incl D&A & Restructuring)

y-o-y change
1.3%
3.7%
7.2%
7.3%
4.8%
-4.4%
-3.2%
2.1%
-0.9%
-1.5%
-0.8%
-1.2%
-1.0%
1.1%
-1.0%
-12.5%
-3.3%
n/a
n/a
n/a
-11.9%
-3.1%
3.2%
-2.2%
7.0%
Comp. operating expenses (incl. D&A)
(478.1)
(545.2)
(536.5)
(498.6)
(2,058.4)
(493.9)
(557.2)
(530.9)
(473.6)
(2,055.6)
(473.3)
(2,048.2)
(495.8)
(553.7)
(533.3)
(503.2)
(2,086.0)
(494.3)
(550.9)
(529.4)
(499.3)
(2,073.9)
(483.7)
(536.0)
(498.4)
y-o-y change
Comparable OPEX/ NSR (%)
1.2%
-34.7%
4.4%
-28.4%
5.8%
-26.8%
3.2%
-33.4%
3.6%
-30.3%
-3.3%
-34.9%
-2.2%
-28.1%
1.0%
-27.5%
5.0%
-31.0%
0.1%
-30.0%
5.1%
-31.1%
0.5%
-30.0%
6.6%
-34.5%
-16.9%
-27.7%
74.1%
-26.2%
-6.3%
-31.3%
-1.8%
-29.5%
n/a
-34.5%
n/a
-27.7%
n/a
-26.2%
-5.5%
-31.1%
-1.3%
-29.4%
2.1%
-33.8%
2.7%
-27.5%
5.9%
-26.0%
Adjusted EBITDA***
145.1
364.1
382.1
160.2
1,051.5
113.1
311.9
307.1
144.6
876.7
141.0
852.2
82.6
285.0
307.9
100.7
776.2
81.7
277.5
298.0
100.4
757.6
83.3
244.6
295.8
y-o-y change
10.9%
3.6%
2.0%
-1.4%
3.2%
-22.1%
-14.3%
-19.6%
-9.7%
-16.6%
-12.0%
-19.0%
-27.0%
-8.6%
0.3%
-30.4%
-11.5%
n/a
n/a
n/a
-28.8%
-11.1%
2.0%
-11.9%
-0.7%
Comparable EBITDA
149.7
365.6
395.9
177.3
1,088.5
122.6
317.7
315.5
174.5
930.3
170.5
905.4
93.2
294.2
317.5
152.2
857.1
92.3
287.2
307.1
152.3
838.8
93.6
273.1
297.6
y-o-y change
12.5%
2.8%
4.7%
14.8%
6.6%
-18.1%
-13.1%
-20.3%
-1.6%
-14.5%
-3.8%
-16.8%
-24.0%
-7.4%
0.6%
-12.8%
-7.9%
n/a
n/a
n/a
-10.7%
-7.4%
1.4%
-4.9%
-3.1%
EBIT
52.4
263.7
287.2
46.6
649.9
17.6
214.3
211.2
25.3
468.4
24.2
450.3
(12.8)
182.7
211.0
(30.8)
350.1
(12.3)
176.7
201.7
(28.4)
337.7
(11.3)
145.3
205.6
y-o-y change
42.4%
-0.3%
4.6%
-25.9%
1.7%
-66.4%
-18.7%
-26.5%
-45.7%
-27.9%
-48.1%
-30.7%
>100%
-14.7%
-0.1%
>100%
-25.3%
n/a
n/a
n/a
>100%
-25.0%
8.1%
-17.8%
1.9%
Comparable EBIT
57.0
264.8
301.0
63.8
686.6
27.7
221.0
219.6
73.0
541.3
71.5
522.8
(1.6)
193.3
220.6
52.9
465.2
(1.1)
187.8
210.8
55.6
453.1
(1.0)
179.2
207.4
y-o-y change
Comparable EBIT margin (%)
38.3%
4.1%
-1.5%
13.8%
7.3%
15.1%
5.8%
4.3%
5.5%
10.1%
-51.4%
2.0%
-16.5%
11.2%
-27.0%
11.4%
14.4%
4.8%
-21.2%
7.9%
12.1%
4.7%
-23.9%
7.7%
>100%
-0.1%
-12.5%
9.7%
0.5%
10.8%
-27.5%
3.3%
-14.1%
6.6%
n/a
-0.1%
n/a
9.5%
n/a
10.4%
-22.2%
3.5%
-13.3%
6.4%
9.5%
-0.1%
-4.6%
9.2%
-1.6%
10.8%
Total Net financing costs
(21.8)
(22.0)
(18.6)
y-o-y change
(17.0)
(17.3)
(20.2)
(21.2)
(75.7)
(19.1)
(24.1)
(20.8)
(30.1)
(94.1)
(30.3)
(95.2)
(21.7)
(22.3)
(24.4)
(22.3)
(90.7)
(24.6)
(22.3)
(90.7)
(19.7)
(29.7)
-32.8%
-4.9%
41.3%
41.3%
4.0%
-12.4%
-39.3%
-3.0%
-42.0%
-24.3%
-42.9%
-25.8%
-13.6%
7.5%
-17.3%
25.9%
3.6%
n/a
n/a
n/a
26.4%
4.7%
9.6%
-35.0%
0.2
1.8
0.5
0.0
2.5
(0.3)
(0.5)
3.0
(1.0)
1.2
(1.5)
9.4
0.1
0.8
1.0
0.5
2.4
0.0
4.1
9.0
(1.5)
11.6
0.0
4.4
7.0
y-o-y change
n/a
12.5%
-68.8%
n/a
-231.6%
>100%
>100%
>100%
n/a
-52.0%
#DIV/0!
>100%
>100%
>100%
-66.7%
>100%
>100%
n/a
n/a
n/a
0.0%
23.4%
n/a
7.3%
-22.2%
35.6
248.2
267.5
25.4
576.7
(1.8)
189.7
193.4
(5.8)
375.5
(7.6)
364.5
(34.4)
161.2
187.6
(52.6)
261.8
(34.1)
158.8
186.1
(52.2)
258.6
(31.0)
120.0
194.0
>100%
Profit before Tax

y-o-y change

y-o-y change
>100%
24.4%
0.1%
2.1%
92.4%
2.2%
>100%
-23.6%
-27.7%
>100%
-34.9%
>100%
-36.8%
>100%
-15.0%
-3.0%
-30.3%
n/a
n/a
n/a
>100%
-29.1%
9.1%
-24.4%
4.2%
40.2
249.3
281.3
42.6
613.4
8.3
196.4
201.8
41.9
448.4
39.7
437.0
(23.2)
171.8
197.2
31.1
376.9
(22.9)
169.9
195.2
31.8
374.0
(20.7)
163.1
194.7
>100%
-1.2%
5.0%
>100%
11.5%
-79.4%
-21.2%
-28.3%
-1.6%
-26.9%
-6.8%
-28.8%
>100%
-12.5%
-2.3%
-25.8%
-15.9%
n/a
n/a
n/a
-19.9%
-14.4%
9.6%
-4.0%
-0.2%
(71.8)
(45.1)
(40.8)
(66.7)
5.3
(40.6)
Tax
(7.6)
(57.2)
(1.4)
(138.0)
(6.1)
(46.8)
(4.7)
(102.7)
(2.9)
(98.8)
6.1
(39.5)
7.5
(36.9)
7.0
(65.2)
6.6
(30.1)
(46.7)
y-o-y change
76.7%
34.7%
4.8%
-95.4%
-3.2%
19.7%
37.2%
18.2%
>100%
25.6%
>100%
28.4%
>100%
9.5%
15.6%
>100%
35.1%
n/a
n/a
n/a
>100%
34.0%
24.5%
25.9%
-26.6%
Comparable Tax
(8.7)
(72.1)
(60.4)
(5.5)
(146.7)
(8.3)
(46.2)
(48.0)
(11.7)
(114.2)
(9.9)
(110.0)
4.7
(43.2)
(40.0)
(8.5)
(87.0)
3.9
(43.0)
(37.5)
(8.9)
(85.5)
4.8
(36.6)
(46.5)
y-o-y change
89.1%
32.5%
7.1%
-82.7%
-0.3%
4.6%
35.9%
20.5%
>100%
22.1%
-80.0%
25.0%
>100%
6.5%
16.7%
27.4%
23.8%
n/a
n/a
n/a
10.0%
22.3%
24.5%
14.8%
-24.1%
2.3
4.5
3.3
2.0
12.1
1.0
3.2
(1.6)
1.3
3.9
1.1
1.3
0.1
0.8
1.6
0.6
3.1
0.1
0.7
1.6
0.6
3.0
0.0
(0.1)
0.1
-50.0%
-30.8%
>100%
-80.2%
-46.0%
-56.5%
-28.9%
>100%
-35.0%
-67.8%
-45.0%
-89.3%
-90.0%
-75.0%
>100%
-53.8%
-20.5%
n/a
n/a
n/a
-45.5%
>100%
>100%
>100%
-93.8%
25.7
171.9
207.0
22.0
426.6
(8.9)
141.4
148.2
(11.8)
268.9
(11.6)
264.4
(28.4)
119.6
146.5
(45.7)
192.0
(28.9)
117.5
147.6
(45.8)
190.4
(24.4)
90.0
147.2
y-o-y change
Net profit/(loss) after Tax

y-o-y change
>100%
-8.6%
0.4%
>100%
6.9%
>100%
-17.7%
-28.4%
>100%
-37.0%
>100%
-38.0%
>100%
-15.4%
-1.1%
>100%
-28.6%
n/a
n/a
n/a
>100%
-28.0%
15.6%
-23.4%
-0.3%
Comparable Net profit/(loss) after Tax
29.2
172.7
216.6
34.6
453.1
(1.0)
147.0
155.4
28.9
330.3
28.7
325.6
(18.6)
127.8
155.6
22.0
286.8
(19.1)
126.2
156.1
22.3
285.5
(15.9)
126.6
148.1
y-o-y change
>100%
-10.7%
3.0%
>100%
8.6%
>100%
-14.9%
-28.3%
-16.5%
-27.1%
-17.1%
-28.1%
>100%
-13.1%
0.1%
-23.9%
-13.2%
n/a
n/a
n/a
-22.3%
-12.3%
17.0%
0.3%
-5.1%
No of Shares
364.3
0.07
363.7
0.47
362.6
0.57
362.6
0.06
363.3
1.17
362.8
n/a
363.1
0.39
363.1
0.41
363.1
-0.03
363.0
0.77
363.2
n/a
363.0
0.73
363.1
n/a
363.1
0.33
363.1
0.40
363.1
-0.13
363.9
0.53
363.1
-0.08
363.1
0.32
363.1
0.41
363.1
-0.13
363.9
0.52
363.1
-0.07
363.2
0.25
363.6
0.40
y-o-y change
>100%
-17.0%
-28.1%
n/a
34.6%
n/a
-15.5%
-1.6%
>100%
-28.2%
-15.6%
-23.4%
-0.4%

y-o-y change
-7.8%
0.0%
>100%
7.3%
n/a
-37.7%
n/a
-31.2%
n/a
n/a
n/a
n/a
0.08
0.47
0.60
0.10
1.25
n/a
0.40
0.43
0.08
0.91
0.08
0.90
n/a
0.35
0.43
0.06
0.79
-0.05
0.35
0.44
0.06
0.78
-0.04
0.34
0.41
>100%
-11.3%
3.4%
>100%
4.2%
n/a
-14.9%
-28.3%
-20.5%
51.6%
-20.0%
-28.2%
n/a
-12.0%
-0.3%
-23.9%
-13.3%
n/a
n/a
n/a
n/a
-12.5%
-17.0%
-2.6%
-7.4%
Balance Sheet
as at period end
2010
2011
2012
2012*
2013*
Q1
Q2
Q3
Q4
FY10
Q1
Q2
Q3
Q4
FY11
Q4*
FY11*
Q1
Q2
Q3
Q4
FY12
Q1*
Q2*
Q3*
Q4*
FY12*
Q1*
Q2*
Q3*
5,177.1
5,267.0
5,193.7
5,281.2
5,281.2
5,212.6
5,265.6
5,174.4
5,207.4
5,207.4
5,228.4
5,228.4
5,263.0
5,269.6
5,284.5
5,212.5
5,212.5
5,305.0
5,333.5
5,353.7
5,279.3
5,279.3
5,282.5
5,201.6
5,143.6
Inventories
Receivables
516.2
1,111.6
284.5
1,912.3
614.6
1,328.3
329.0
2,271.9
521.6
1,115.8
652.6
2,290.0
481.7
1,121.7
326.1
1,929.5
481.7
1,121.7
326.1
1,929.5
562.5
1,162.1
533.8
2,258.4
641.3
1,408.7
567.2
2,617.2
480.9
1,241.3
638.9
2,361.1
451.5
1,122.4
476.1
2,050.0
451.5
1,122.4
476.1
2,050.0
447.7
1,120.0
447.4
2,015.1
447.7
1,120.0
447.4
2,015.1
544.3
1,088.0
397.3
2,029.6
619.0
1,269.6
466
2,354.6
528.4
1,099.5
540.4
2,168.3
460.6
1073.6
446.4
1,980.7
460.6
1073.6
446.4
1,980.7
540
1081.7
370.4
1,992.1
613.5
1267
430.5
2,311.0
524.2
1098.6
528
2,150.8
458
1,073.7
439.1
1,970.8
458
1,073.7
439.1
1,970.8
550.4
1074
342.6
1,967.0
585.6
1195
1063.5
2,844.1
493.2
1037.8
715
2,246.0
Total assets
7,089.4
7,538.9
7,483.7
7,210.7
7,210.7
7,471.0
7,882.8
7,535.5
7,257.4
7,257.4
7,243.5
7,243.5
7,292.6
7,624.2
7,452.8
7,193.2
7,193.2
7,297.1
7,644.5
7,504.5
7,250.1
7,250.1
7,249.5
8,045.7
7,389.6
320.9
1,440.7
1,761.6
261.1
1,745.2
2,006.3
755.8
1,603.9
2,359.7
535.1
1,501.3
2,036.4
535.1
1,501.3
2,036.4
528.5
1,531.1
2,059.6
606.7
1,904.4
2,511.1
433.4
1,738.4
2,171.8
321.5
1,599.9
1,921.4
321.5
1,599.9
1,921.4
321.5
1,589.6
1,911.1
321.5
1,589.6
1,911.1
324.7
1,630.5
1,955.2
264.7
2,008.3
2,273.0
600.1
1,814.7
2,414.8
560.3
1,678.0
2,238.3
560.3
1,678.0
2,238.3
324.7
1,616.2
1,940.9
264.7
1,989.0
2,253.7
594.8
1,798.2
2,393.0
555.0
1,667.3
2,222.3
555.0
1,667.3
2,222.3
1,070.1
1,689.8
2,759.9
911.7
2,001.8
2,913.5
471.7
1,671.1
2,142.8
2,137.8
419.0
2,556.8
2,224.1
388.2
2,612.3
1,655.3
456.8
2,112.1
1,656.4
457.1
2,113.5
1,656.4
457.1
2,113.5
1,898.0
483.0
2,381.0
1,876.0
507.5
2,383.5
1,919.1
517.7
2,436.8
1,934.5
488.3
2,422.8
1,934.5
488.3
2,422.8
1,939.8
472.4
2,412.2
1,939.8
472.4
2,412.2
1,921.1
489.4
2,410.5
1,971.9
478.8
2,450.7
1,550.9
444.1
1,995.0
1,542.2
413.8
1,956.0
1,542.2
413.8
1,956.0
1,926.5
495.9
2,422.4
1,999.2
485.6
2,484.8
1,610.3
451.3
2,061.6
1,604.7
416.6
2,021.3
1,604.7
416.6
2,021.3
1,103.9
401.7
1,505.6
1,876.0
391.7
2,267.7
1,851.0
391.8
2,242.8
Total equity
2,771.0
2,920.3
3,011.9
3,060.8
3,060.8
3,030.4
2,988.2
2,926.9
2,913.2
2,913.2
2,920.2
2,920.2
2,926.9
2,900.5
3,043.0
2,998.9
2,998.9
2,933.8
2,906.0
3,049.9
3,006.5
3,006.5
2,984.0
2,864.5
3,004.0
7,089.4
7,538.9
7,483.7
7,210.7
7,210.7
7,471.0
7,882.8
7,535.5
7,257.4
7,257.4
7,243.5
7,243.5
7,292.6
7,624.2
7,452.8
7,193.2
7,193.2
7,297.1
7,644.5
7,504.5
7,250.1
7,250.1
7,249.5
8,045.7
7,389.6
Cash Flow Statement
2010
2011
2012
2012*
2013*
Q1
Q2
Q3
Q4
FY10
Q1
Q2
Q3
Q4
FY11
Q4
FY11*
Q1
Q2
Q3
Q4
FY12
Q1*
Q2*
Q3*
Q4*
FY12*
Q1*
Q2*
Q3*
Adjusted EBITDA***
Tax paid
145.1
14.9
1.2
(29.5)
131.7
364.1
(48.2)
(1.2)
(20.9)
293.8
382.1
128.7
11.5
(44.2)
478.1
160.2
(31.3)
1.7
(46.4)
84.2
1,051.5
64.1
13.2
(141.0)
987.8
113.1
(85.9)
(1.1)
(30.8)
(4.7)
311.9
(14.0)
(1.5)
(7.8)
288.6
307.1
137.2
1.8
(19.2)
426.9
144.6
18.6
3.5
(31.8)
134.9
876.7
55.9
2.7
-89.6
845.7
141.0
22.1
3.6
(31.5)
135.2
852.2
61.3
3.2
(88.4)
828.3
82.6
(22.8)
0.4
(21.4)
38.8
285.0
(40.3)
1.6
(15.7)
230.6
307.9
134.9
0.3
(37.2)
405.9
100.7
16.5
4.3
(22.6)
98.9
776.2
88.3
6.6
(96.9)
774.2
81.7
(22.5)
0.4
(21.4)
38.2
277.5
(46.2)
2.1
(15.5)
217.9
298.0
134.1
(0.4)
(35.3)
396.4
100.4
18.7
4.8
(22.8)
101.1
757.6
84.1
6.9
(95.0)
753.6
83.3
(57.2)
(1.3)
(12.4)
12.4
244.6
1.3
(1.4)
(7.1)
237.4
295.8
78.7
(1.6)
(20.2)
352.7
Net Capital Expenditure
(67.2)
(107.4)
(86.5)
(178.3)
(439.4)
(62.8)
(103.7)
(128.2)
(113.3)
-408.0
(111.3)
(401.1)
(70.9)
(102.9)
(120.7)
(122.8)
(417.3)
(69.9)
(101.3)
(119.0)
(122.1)
(412.3)
(52.0)
(100.2)
(105.2)
Free cash flow
64.5
186.4
391.6
(94.0)
548.5
(67.5)
184.9
298.7
21.6
437.7
23.9
427.2
(32.1)
127.7
285.2
(23.9)
356.9
(31.7)
116.6
277.4
(21.0)
341.3
(39.6)
137.2
247.5
NOTES
Financial indicators on a comparable basis exclude the recognition of restructuring costs and non -recurring items. In
addition, since 2011, financial indicators on a comparable basis exclude the recognition of unrealised commodity
hedges
Number of Shares refers to the weighted average number of shares outstanding during the period.
Quarterly numbers are anaudited. Non GAAP indicators are anaudited
Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interest in other Entities and the revised
IAS 19 Employee Benefits.
(**) Adjusted EBITDA refers to operating profit before deductions for depreciation and impairment of property, plant
and equipment (included both in cost of goods sold and in operating expenses), amortisation and impairment of
intangible assets, employee share options and other non-cash items, if any.
Profit & Loss
2013*
2014*
Q4*
FY13*
Q1*
Q2*
Volume
481.1
2,060.5
409.6
560.6
y-o-y change
0.9%
-1.2%
-4.0%
-3.0%
6,874.0
1,331.1
Net Sales Revenue

y-o-y change
1,574.6
1,852.0
-1.9%
-2.4%
-7.0%
-5.0%
(1,040.3)
(4,438.5)
(878.9)
(1,154.5)
1.1%
1.9%
7.6%
6.6%
(1,037.3)
(4,433.0)
(883.3)
(1,159.2)
1.2%
1.9%
6.9%
6.1%
Gross Profit
534.3
2,435.5
452.2
697.5
y-o-y change
-3.5%
-3.4%
-5.9%
-2.2%
Comparable Gross profit
537.3
2,441.0
447.8
692.8
y-o-y change
GP Margin
-3.2%
34.1%
-3.4%
35.5%
-7.2%
33.6%
-3.1%
37.4%
(500.2)
(2,061.8)
(481.4)
(504.2)
COGS
y-o-y change
Comparable COGS
y-o-y change
Operating expenses (incl D&A & Restructuring)

y-o-y change
14.0%
5.6%
2.1%
11.2%
Comp. operating expenses (incl. D&A)
(469.0)
(1,987.1)
(474.6)
(499.1)
y-o-y change
Comparable OPEX/ NSR (%)
6.1%
-29.8%
4.2%
-28.9%
1.9%
-35.7%
6.9%
-26.9%
Adjusted EBITDA***
132.4
756.1
64.8
282.9
15.7%
y-o-y change
31.9%
-0.2%
-22.2%
Comparable EBITDA
158.3
822.6
67.0
283.3
y-o-y change
4.0%
-1.9%
-28.4%
3.7%
EBIT
34.1
373.7
(29.2)
193.3
>100%
10.7%
>100%
33.0%
193.7
y-o-y change
Comparable EBIT
68.3
453.9
(26.8)
y-o-y change
Comparable EBIT margin (%)
22.9%
4.3%
0.2%
6.6%
>100%
-2.0%
8.1%
10.5%
Total Net financing costs
(23.5)
(91.5)
(20.5)
(18.4)
-5.4%
y-o-y change

y-o-y change
Profit before Tax

y-o-y change
-0.9%
-4.1%
0.5
11.9
0.2
3.8
>100%
2.6%
n/a
-13.6%
38.0%
11.1
294.1
(49.5)
178.7
>100%
13.7%
-59.7%
48.9%
45.3
382.4
(47.1)
179.1
y-o-y change
42.5%
2.2%
>100%
Tax
9.8%
(2.7)
(72.9)
10.2
(44.3)
>100%
-11.8%
54.5%
-47.2%
Comparable Tax
(11.0)
(89.3)
11.2
(44.4)
y-o-y change
-23.5%
-4.4%
>100%
-21.2%
0.0
0.0
(0.1)
0.1
>100%
>100%
#DIV/0!
>100%
8.4
221.2
(39.2)
134.3
y-o-y change
y-o-y change
Net profit/(loss) after Tax

y-o-y change
>100%
16.2%
-60.7%
49.2%
Comparable Net profit/(loss) after Tax
34.3
293.1
(35.8)
134.6
y-o-y change
53.9%
2.7%
>100%
6.3%
No of Shares
364.2
0.02
363.6
0.61
364.3
-0.11
364.3
0.37
y-o-y change
60.1%
48.8%
>100%
16.3%
0.09
0.81
-0.10
0.36
y-o-y change
53.5%
2.8%
124.6%
6.2%
Balance Sheet
2013*
as at period end
2014*
Q4*
FY13*
Q1*
Q2*
5,123.2
5,123.2
4,978.1
5,053.8
Inventories
Receivables
429
985.1
737.5
2,151.6
429
985.1
737.5
2,151.6
505.3
977.2
373.8
1,856.3
564.2
1158.6
557.1
2,279.9
Total assets
7,274.8
7,274.8
6,834.4
7,333.7
446.2
1,619.9
2,066.1
446.2
1,619.9
2,066.1
194.0
1,582.7
1,776.7
228.0
1,982.1
2,210.1
1,853.6
387.8
2,241.4
1,853.6
387.8
2,241.4
1,850.0
375.0
2,225.0
1,855.0
395.4
2,250.4
Total equity
2,967.3
2,967.3
2,832.7
2,873.2
7,274.8
7,274.8
6,834.4
7,333.7
Cash Flow Statement
2013*
2014*
Q4*
FY13*
Q1*
Q2*
Adjusted EBITDA***
Tax paid
132.4
75.7
(9.3)
(16.4)
182.4
756.1
98.5
(13.6)
(56.1)
784.9
64.8
(86.8)
(1.1)
(11.0)
(34.1)
282.9
(1.8)
(1.5)
(10.6)
269.0
Net Capital Expenditure
(114.8)
(372.2)
(46.7)
(93.4)
67.6
412.7
(80.8)
175.6
Free cash flow
NOTES
Financial indicators on a comparable basis exclude the recognition of restructuring costs and non -recurring items. In
addition, since 2011, financial indicators on a comparable basis exclude the recognition of unrealised commodity
hedges
Number of Shares refers to the weighted average number of shares outstanding during the period.
Quarterly numbers are anaudited. Non GAAP indicators are anaudited
Volume
2010
2011
2012
2012*
2013*
2014*
Established
Q1
155.4
Q2
197.3
Q3
200.2
Q4
165.3
FY10
718.2
Q1
153.0
Q2
200.1
Q3
195.0
Q4
151.4
FY11
699.5
FY11*
713.5
Q1
150.2
Q2
184.1
Q3
188.2
Q4
143.1
FY12
665.6
Q1*
153.2
Q2*
188.2
Q3*
192.0
Q4*
146.0
FY12*
679.4
Q1*
141.9
Q2*
177.5
Q3*
185.0
Q4*
146.2
FY13*
650.6
Q1*
131.3
y-o-y change
-5.4%
-4.6%
-4.3%
1.5%
-3.4%
-1.5%
1.4%
-2.6%
-8.4%
-2.6%
-0.7%
-1.8%
-8.0%
-3.5%
-5.5%
-4.9%
n/a
n/a
n/a
-5.4%
-4.8%
-7.4%
-5.7%
-3.6%
0.1%
-4.2%
-7.5%
Q2*
174.6
-1.6%
100.3
Developing
79.8
105.4
115.6
90.9
391.7
79.2
116.5
113.7
90.3
399.7
399.7
79.4
108.7
114.1
91.3
393.5
79.4
108.7
114.1
91.3
393.5
76.8
105.5
112.1
86.6
381
70.0
y-o-y change
1.5%
-3.3%
-0.9%
8.2%
0.9%
-0.8%
10.5%
-1.6%
-0.7%
2.0%
2.0%
0.3%
-6.7%
0.4%
1.1%
-1.6%
n/a
n/a
n/a
1.1%
-1.6%
-3.3%
-2.9%
-1.8%
-5.1%
-3.2%
-8.9%
-4.9%
285.7
Emerging
195.9
275.2
294.7
224.3
990.1
201.6
285.9
273.0
223.7
984.2
974.2
195.9
292.2
291.7
241.7
1021.5
194.4
289.7
288.1
239.6
1,011.8
208.0
294.7
277.9
248.3
1,028.9
208.3
y-o-y change
-1.0%
-0.5%
14.3%
9.2%
5.6%
2.9%
3.9%
-7.4%
-0.3%
-0.6%
-1.6%
-2.8%
2.2%
6.8%
8.1%
3.8%
n/a
n/a
n/a
8.1%
3.9%
7.0%
1.7%
-3.5%
3.6%
1.7%
0.1%
-3.1%
Total Hellenic
431.1
577.9
610.5
480.5
2100
433.8
602.5
581.7
465.4
2083.4
2,087.4
425.5
585.0
594.0
476.1
2,080.6
427.0
586.6
594.2
476.9
2,084.7
426.7
577.7
575.0
481.1
2,060.5
409.6
560.6
y-o-y change
-2.2%
-2.5%
4.6%
6.2%
1.5%
0.6%
4.3%
-4.7%
-3.1%
-0.8%
-0.6%
-1.9%
-2.9%
2.1%
2.3%
-0.1%
n/a
n/a
n/a
2.3%
-0.1%
-0.1%
-1.5%
-3.2%
0.9%
-1.2%
-4.0%
-3.0%
Net Sales Revenue
2010
2011
2012
2012*
2013*
2014*
Established
Q1
624.2
Q2
789.8
Q3
787.9
Q4
632.7
FY10
2834.6
Q1
621.5
Q2
800.1
Q3
780.9
Q4
604.5
FY11
2807
FY11*
2834.8
Q1
614.2
Q2
735
Q3
748.1
Q4
575.8
FY12
2673.1
Q1*
620.2
Q2*
743.9
Q3*
756.0
Q4*
581.7
FY12*
2701.8
Q1*
570.5
Q2*
697.2
Q3*
717.3
Q4*
554.6
FY13*
2539.6
Q1*
527.9
y-o-y change
-4.5%
-4.3%
-3.3%
-0.2%
-3.2%
-0.4%
1.3%
-0.9%
-4.5%
-1.0%
0.0%
-1.2%
-8.1%
-4.2%
-4.7%
-4.8%
n/a
n/a
n/a
-4.7%
-4.7%
-8.0%
-6.3%
-5.1%
-4.7%
-6.0%
-7.5%
0.4%
Developing
230.6
308.5
349.6
251.3
1140
234.9
347.9
334.8
243.9
1161.5
1161.5
229.2
319.7
341.7
257.5
1148.1
229.2
319.7
341.7
257.5
1148.1
217.2
308.5
333.2
246.7
1105.6
205.2
299.5
y-o-y change
2.4%
-5.2%
-3.1%
5.6%
-0.8%
1.9%
12.8%
-4.2%
-2.9%
1.9%
1.9%
-2.4%
-8.1%
2.1%
5.6%
-1.2%
n/a
n/a
n/a
5.6%
-1.2%
-5.2%
-3.5%
-2.5%
-4.2%
-3.7%
-5.5%
-2.9%
680.4
2885.8
2,828.0
765.6
3,194.8
773.3
3,228.8
Emerging
y-o-y change
522.2
824.8
861.1
610.9
2819
559.7
831.6
814.1
593.1
940.9
946.5
776.6
3257.1
584.0
922.1
923.1
644.2
943.5
867.8
598.0
Q2*
700.1
852.4
5.4%
11.4%
21.3%
17.3%
14.3%
7.2%
0.8%
-5.5%
11.4%
2.4%
0.3%
6.0%
13.1%
16.3%
14.1%
12.9%
n/a
n/a
n/a
14.3%
13.0%
10.3%
2.3%
-6.0%
1.0%
1.1%
-7.2%
-9.7%
1,377.0
1,923.1
1,998.6
1,494.9
6793.6
1,416.1
1,979.6
1,929.8
1,528.8
6854.3
6,824.3
1,436.5
1,995.6
2,036.3
1,609.9
7,078.3
1,433.4
1,985.7
2,020.8
1,604.8
7,044.7
1,431.9
1,949.2
1,918.3
1,574.6
6,874.0
1,331.1
1,852.0
0.2%
1.7%
6.0%
7.3%
3.8%
2.8%
2.9%
-3.4%
2.3%
0.9%
0.5%
1.4%
0.8%
5.5%
5.3%
3.3%
n/a
n/a
n/a
5.3%
3.2%
-0.1%
-1.8%
-5.1%
-1.9%
-2.4%
-7.0%
-5.0%
Established
Q1
4.02
Q2
4.00
Q3
3.94
Q4
3.83
FY10
3.95
Q1
4.06
Q2
4.00
Q3
4.00
Q4
3.99
FY11
4.01
FY11*
3.97
Q1
4.09
Q2
3.99
Q3
3.98
Q4
4.02
FY12
4.02
Q1*
4.05
Q2*
3.95
Q3*
3.94
Q4*
4.0
FY12*
3.98
Q1*
4.02
Q2*
3.93
Q3*
3.88
Q4*
3.79
FY13*
3.90
Q1*
4.02
Q2*
4.01
y-o-y change
0.9%
0.3%
0.9%
-1.6%
0.2%
1.1%
-0.1%
1.8%
4.3%
1.7%
0.7%
0.7%
-0.2%
-0.7%
0.8%
0.1%
n/a
n/a
n/a
0.7%
0.1%
-0.7%
-0.6%
-1.5%
-4.8%
-1.8%
0.0%
2.1%
Developing
2.97
2.99
2.82
2.92
2.89
2.94
Total Hellenic
y-o-y change
Reported Net Sales Revenue per case
2010
2011
2012
2012*
2013*
2014*
2.89
2.93
3.02
2.76
2.91
2.99
2.94
2.70
2.91
2.91
2.89
2.94
2.99
2.8
2.92
2.83
2.92
2.97
2.85
2.90
2.93
2.99
y-o-y change
0.7%
-1.8%
-2.1%
-2.3%
-1.7%
2.6%
2.0%
-2.6%
-2.3%
-0.2%
-0.2%
-2.7%
-1.5%
1.7%
4.4%
0.4%
n/a
n/a
n/a
4.4%
0.4%
-2.0%
-0.6%
-0.7%
1.0%
-0.5%
3.7%
2.1%
Emerging
2.67
3.00
2.92
2.72
2.85
2.78
2.91
2.98
3.04
2.93
2.90
3.03
3.22
3.24
3.21
3.19
3.00
3.18
3.20
3.2
3.16
3.10
3.20
3.12
3.11
3.14
2.87
2.98
y-o-y change
6.6%
11.8%
6.3%
7.2%
8.2%
4.2%
-2.9%
2.1%
11.7%
3.0%
2.0%
9.1%
10.7%
8.8%
5.6%
8.7%
n/a
n/a
n/a
5.7%
8.8%
3.1%
0.6%
-2.5%
-2.5%
-0.6%
-7.3%
-6.8%
Total Hellenic
3.19
3.33
3.27
3.11
3.24
3.26
3.29
3.32
3.28
3.29
3.27
3.38
3.41
3.43
3.38
3.40
3.36
3.39
3.40
3.4
3.38
3.36
3.37
3.34
3.27
3.34
3.25
3.30
4.3%
1.4%
1.0%
2.3%
2.2%
-1.3%
1.3%
5.6%
1.7%
1.1%
3.4%
3.8%
3.3%
2.9%
3.4%
n/a
n/a
n/a
3.0%
3.4%
0.0%
-0.3%
-1.9%
-2.7%
-1.3%
-3.2%
-2.1%
y-o-y change
FX Neutral Net Sales Revenue per case ***
2010
2011
2012
2012*
2013*
2014*
Established
Q1
3.99
Q2
3.95
Q3
3.87
Q4
3.74
FY10
3.89
Q1
3.99
Q2
3.94
Q3
3.98
Q4
3.95
FY11
3.95
FY11*
3.92
Q1
4.04
Q2
3.96
Q3
3.97
Q4
4.02
FY12
4.00
Q1*
4.00
Q2*
3.92
Q3*
3.93
Q4*
3.97
FY12*
3.95
Q1*
4.03
Q2*
3.95
Q3*
3.91
Q4*
3.81
FY13*
3.93
Q1*
4.02
Q2*
4.01
y-o-y change**
0.3%
-1.0%
-0.8%
-3.9%
-1.3%
-0.7%
-1.6%
1.1%
3.2%
0.1%
-0.8%
-0.5%
-1.0%
-0.9%
0.7%
-0.4%
n/a
n/a
n/a
0.3%
-0.5%
-0.3%
-0.2%
-0.8%
-4.3%
-1.2%
-0.2%
1.6%
2.88
2.93
2.93
3.01
3.11
3.01
2.84
2.99
3.01
3.10
3.01
2.71
Developing
2.64
2.81
2.98
2.70
2.80
2.94
2.91
2.95
2.97
2.77
2.90
3.04
2.92
2.94
2.93
2.99
y-o-y change**
-8.0%
-5.7%
-3.6%
-4.6%
-5.4%
1.7%
-0.6%
-2.5%
4.2%
0.7%
0.8%
1.5%
4.1%
2.2%
5.1%
3.0%
n/a
n/a
n/a
0.3%
2.1%
-1.3%
-1.5%
1.5%
3.5%
0.9%
5.7%
3.1%
Emerging
2.61
2.79
2.73
2.60
2.69
2.80
3.13
3.06
3.19
3.09
3.06
3.11
3.21
3.20
3.16
3.19
2.98
3.13
3.13
3.16
3.11
2.77
2.88
3.31
3.32
3.27
2.87
2.98
3.6%
y-o-y change**
4.4%
4.1%
-0.7%
2.4%
2.4%
5.0%
4.4%
4.7%
17.1%
8.5%
7.5%
12.0%
10.4%
7.3%
4.0%
8.7%
n/a
n/a
n/a
3.0%
6.1%
3.8%
-9.5%
3.3%
3.8%
3.5%
3.6%
Total Hellenic
3.12
3.19
3.15
3.01
3.12
3.24
3.36
3.39
3.38
3.35
3.33
3.42
3.43
3.41
3.36
3.41
3.36
3.38
3.37
3.32
3.36
3.19
3.21
3.45
3.40
3.42
3.25
3.30
0.0%
-2.5%
-2.3%
-1.3%
1.4%
1.0%
3.6%
8.6%
3.6%
2.9%
4.8%
4.4%
2.8%
2.3%
3.6%
n/a
n/a
n/a
0.9%
2.2%
0.5%
1.3%
1.4%
0.9%
1.1%
1.9%
2.9%
y-o-y change**
*FX Neural vs Reported in Prior Year NSR per case
EBIT
2010
2011
2012
2012
2013*
2014*
Established
Q1
43.8
Q2
102.8
Q3
103.3
Q4
19.0
FY10
268.9
Q1
33.5
Q2
96.6
Q3
94.4
Q4
(15.8)
FY11
208.7
FY11*
201.4
Q1
8.5
Q2
58.1
Q3
66.2
Q4
(38.5)
FY12
94.286
Q1*
8.7
Q2*
56.3
Q3*
65.6
Q4*
(38.1)
FY12*
92.5
Q1*
3.4
Q2*
30.5
Q3*
71.5
Q4*
(16.8)
FY13*
88.6
Q1*
(11.1)
Q2*
70.0
y-o-y change
margin
20.7%
7.0%
-9.2%
13.0%
-14.4%
13.1%
-30.7%
3.0%
-9.6%
9.5%
-23.5%
5.4%
-6.0%
12.1%
-8.6%
12.1%
-183.2%
-2.6%
-22.4%
7.4%
-25.1%
7.1%
-74.6%
1.4%
-39.9%
7.9%
-29.9%
8.8%
143.8%
-6.7%
-54.8%
3.5%
n/a
1.4%
n/a
7.6%
n/a
8.7%
n/a
-6.5%
-54.1%
3.4%
-60.9%
0.6%
-45.8%
4.4%
9.0%
10.0%
55.9%
-3.0%
-4.2%
3.5%
>100%
-2.1%
>100%
10.0%
Developing
0.9
31.4
47.9
9.0
89.2
(6.1)
30.0
32.0
2.5
58.4
58.4
(13.6)
14.6
25.2
(34.9)
-8.729
(13.6)
14.6
25.2
(34.9)
-8.7
(14.9)
15.4
37.6
(1.5)
36.6
(10.0)
32.8
y-o-y change
margin
111.3%
0.4%
-10.5%
10.2%
-15.1%
13.7%
221.4%
3.6%
3.4%
7.8%
-777.8%
-2.6%
-4.5%
8.6%
-33.2%
9.6%
-72.2%
1.0%
-34.5%
5.0%
-34.5%
5.0%
123.0%
-5.9%
-51.3%
4.6%
-21.3%
7.4%
-1497.2%
-13.6%
-114.9%
-0.8%
n/a
-5.9%
n/a
4.6%
n/a
7.4%
n/a
-13.6%
-114.9%
-0.8%
-9.6%
-6.9%
5.5%
5.0%
49.2%
11.3%
95.7%
-0.6%
>100%
3.3%
32.9%
-4.9%
>100%
11.0%
Emerging
7.7
129.5
136.0
18.6
291.8
(9.8)
87.7
84.8
38.6
201.3
190.5
(7.7)
110.0
119.6
42.6
264.5
(7.4)
105.8
110.9
44.6
253.9
0.2
99.4
96.5
52.4
248.5
(8.1)
90.5
-9.4%
1.5%
11.4%
15.7%
39.5%
15.8%
-43.1%
3.0%
14.5%
10.4%
-227.3%
-1.8%
-32.3%
10.5%
-37.6%
10.4%
107.5%
5.7%
-31.0%
7.0%
-34.7%
6.7%
-21.4%
-1.3%
25.4%
11.7%
41.0%
12.6%
10.4%
5.5%
31.4%
8.1%
n/a
-1.3%
n/a
11.5%
n/a
12.0%
13.5%
5.8%
33.3%
7.9%
>100%
0.0%
-6.0%
10.5%
-13.0%
11.1%
17.5%
6.8%
-2.1%
7.7%
>100%
-1.4%
-9.0%
10.6%
Total Hellenic
52.4
263.7
287.2
46.6
649.9
17.6
214.3
211.2
25.3
468.4
450.3
(12.8)
182.7
211.0
(30.8)
350.1
(12.3)
176.7
201.7
(28.4)
337.7
(11.3)
145.3
205.6
34.1
373.7
(29.2)
193.3
y-o-y change
margin
42.4%
3.8%
-0.3%
13.7%
4.6%
14.4%
-25.9%
3.1%
1.7%
9.6%
-66.4%
1.2%
-18.7%
10.8%
-26.5%
10.9%
-45.7%
1.7%
-27.9%
6.8%
-30.7%
6.6%
-172.7%
-0.9%
-14.7%
9.2%
-0.1%
10.4%
-221.7%
-1.9%
-25.3%
4.9%
n/a
-0.9%
n/a
8.9%
n/a
10.0%
n/a
-1.8%
-25.0%
4.8%
8.1%
-0.8%
-17.8%
7.5%
1.9%
10.7%
>100%
2.2%
10.7%
5.4%
>100%
-2.2%
33.0%
10.4%
Established
Q1
47.8
Q2
104.2
Q3
110.3
Q4
32.3
FY10
294.6
Q1
41.5
Q2
97.0
Q3
98.2
Q4
19.6
FY11
256.3
FY11*
249
Q1
17.5
Q2
59.0
Q3
73.1
Q4
11.9
FY12
161.5
Q1*
17.7
Q1*
57.6
Q3*
72.1
Q4*
12.6
FY12*
160.0
Q1*
11.1
Q2*
50.5
Q3*
74.3
Q4*
13.7
FY13*
149.6
Q1*
(6.2)
Q2*
70.5
y-o-y change
margin
10.6%
7.7%
-14.6%
13.2%
-12.0%
14.0%
-12.9%
5.1%
-10.1%
10.4%
-13.2%
6.7%
-6.9%
12.1%
-11.0%
12.6%
-39.3%
3.2%
-13.0%
9.1%
-15.5%
8.8%
-57.8%
2.8%
-39.2%
8.0%
-25.6%
9.8%
-39.3%
2.1%
-37.0%
6.0%
n/a
2.9%
n/a
7.7%
n/a
9.5%
-29.2%
2.2%
-35.7%
5.9%
-37.3%
1.9%
-12.3%
7.2%
3.0%
10.4%
8.7%
2.5%
-6.5%
5.9%
>100%
-1.2%
39.6%
10.1%
y-o-y change
margin
Comparable EBIT
2010
2011
2012
2012
2013*
2014*
Developing
1.1
31.1
49.6
9.7
91.5
(4.9)
36.1
33.2
11.6
76
76
(10.0)
15.6
26.3
(5.2)
26.7
(10.0)
15.6
26.3
(5.1)
26.8
(14.8)
18.6
37.5
0.2
41.6
(9.0)
32.4
y-o-y change
115.3%
-12.4%
-12.2%
-20.5%
-5.7%
-545.5%
16.1%
-33.1%
19.6%
-16.9%
-16.9%
104.1%
-56.8%
-20.8%
-144.8%
-64.9%
n/a
n/a
n/a
-144.0%
-64.7%
-48.0%
19.2%
42.4%
>100%
55.3%
39.3%
74.2%
margin
Emerging
y-o-y change
margin
Total Hellenic
y-o-y change
margin
0.5%
10.1%
14.2%
-4.4%
4.9%
7.7%
2.3%
-4.4%
4.9%
7.7%
-6.8%
6.0%
0.1%
3.8%
8.1
129.5
141.1
21.8
300.5
(8.9)
87.9
88.2
41.8
209
197.8
(9.1)
118.7
121.2
46.2
277
(8.8)
114.6
112.4
48.1
266.3
2.7
110.1
95.6
54.4
262.7
(11.6)
90.8
55.8%
1.6%
16.2%
15.7%
43.0%
16.4%
98.2%
3.6%
3.9%
32.8%
10.7%
8.0%
-209.9%
-1.6%
-2.1%
-32.1%
10.6%
10.4%
-37.5%
10.8%
9.9%
91.7%
6.1%
4.8%
-30.4%
7.2%
6.5%
-34.2%
7.0%
6.5%
2.2%
-1.5%
35.0%
12.6%
37.4%
12.8%
10.5%
5.9%
32.5%
8.5%
n/a
-1.5%
n/a
12.4%
n/a
12.2%
14.3%
6.3%
34.6%
8.3%
>100%
0.4%
-3.9%
11.7%
-15.0%
11.0%
13.1%
7.0%
-1.4%
8.1%
>100%
-1.9%
-17.5%
10.7%
57.0
264.8
301.0
63.8
686.6
27.7
221.0
219.6
73.0
541.3
522.8
(1.6)
193.3
220.6
52.9
465.2
(1.1)
187.8
210.8
55.6
453.1
(1.0)
179.2
207.4
68.3
453.9
(26.8)
193.7
38.3%
4.1%
-1.5%
13.8%
7.3%
15.1%
5.8%
4.3%
5.5%
10.1%
-51.4%
2.0%
-16.5%
11.2%
-27.0%
11.4%
14.4%
4.8%
-21.2%
7.9%
-23.9%
7.7%
-105.8%
-0.1%
-12.5%
9.7%
0.5%
10.8%
-27.5%
3.3%
-14.1%
6.6%
n/a
-0.1%
n/a
9.5%
n/a
10.4%
-22.2%
3.5%
-13.3%
6.4%
9.5%
-0.1%
-4.6%
9.2%
-1.6%
10.8%
22.9%
4.3%
0.2%
6.6%
>100%
-2.0%
8.1%
10.5%
NOTES
(1) Financial indicators on a comparable basis exclude the recognition of restructuring costs and non -recurring items.
In addition, since 2011, financial indicators on a comparable basis exclude the recognition of unrealised commodity
hedges
(2) FX neutral revenue per case is calculated based on the assumption of what the current period EUR revenue per
case would have been if the foreign currency rates had remained the same to the comparable prior year period. FX
neutral net sales revenue per case is a non-GAAP financial indicators. Non-GAAP financial indicators are unaudited.
(***)FX Neutral Revenues per case in 2012 are adjusted and exclude Belarus (due to the hyperinflation impact of
Belarus); therefore figures in the table for 2012 are not comparable with 2011 due to the Hyperinflation
Adjustments
**** Quarterly growth rates for 2010 have been calculated based on 2009 reported figures, without taking into consideration the restatement effect from the 2011 change in policy regarding IAS 19.
-2.0%
-2.0%
2.3%
11.2%
-4.4%
10.8%

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Profit & Loss

Statements for the Full Year Ending 31 Dec

Total non-current assets

Total equity and liabilities

Net Capital Expenditure***

Free cash flow

Cash Flow Statement

(in m unit cases)

Net Sales Revenue

Currency Neutral NSR per case

Profit & Loss

Net Sales Revenue

Comparable Gross profit

Operating expenses (incl D&A & Restructuring)

Comp. operating expenses (incl. D&A)

Total Net financing costs

Share of results of equity method investments

Profit before Tax

Comparable Profit before Tax

Net profit/(loss) after Tax

Comparable Net profit/(loss) after Tax

Comparable Basic Earnings per Share

Total non-current assets

Total equity and liabilities

Cash Flow Statement

Net Capital Expenditure

Free cash flow

Profit & Loss

Net Sales Revenue

Comparable Gross profit

Operating expenses (incl D&A & Restructuring)

Comp. operating expenses (incl. D&A)

Total Net financing costs

Share of results of equity method investments

Profit before Tax

Comparable Profit before Tax

Net profit/(loss) after Tax

Comparable Net profit/(loss) after Tax

Comparable Basic Earnings per Share

Total non-current assets

Total equity and liabilities

Cash Flow Statement

Net Capital Expenditure

Free cash flow

Net Sales Revenue

Reported Net Sales Revenue per case

FX Neutral Net Sales Revenue per case ***

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