Coca-Cola income up 73% in year
Feb. 9, 2011
ATLANTA — Boosted by the acquisition of Coca-Cola Enterprises, the Coca-Cola Co.’s earnings rose significantly during fiscal 2010.
For the year ended Dec. 31, the company had an income of $11,809 million, equal to $5.12 per share on the common stock, which compared with an income of $6,824 million, equal to $2.95 per share, during the previous year. Net operating revenue for the year was $35,119 million, up 13% from $30,990 million in 2009.
“We once again delivered strong results this quarter, with volume growth realized across all five of our geographic operating groups,” said Muhtar Kent, chairman and chief executive officer. “Importantly, we achieved solid growth in our developed markets with 3% growth in North America, 2% growth in Europe and 2% growth in Japan. Together with our global bottling partners, we are decisively executing our 2020 vision, and I am pleased that we met or exceeded all of our long-term growth targets for both the quarter and the year, all while we completed our acquisition of C.C.E.’s North American business, began successfully integrating Coca-Cola Refreshments and operated in a still uncertain global economic environment. Further, as we strategically invest in inspirational marketing as well as sales and marketplace execution, we again gained broad-based worldwide volume and value share. 2010 was the first year in our journey to realize our 2020 vision and our reported results today underscore the strength of our foundation.”
Operating income for North America during the year was $1,520 million, down 11% from $1,699 million during the previous year. Operating revenue was $11,205 million, up 35% from $8,271 million during the previous year.
For the fourth quarter ended Dec. 31, the company as a whole had an income of $5,771 million, equal to $2.50 per share, up 274% from $1,543 million, equal to 67c per share, during the same quarter of the previous year. Net operating revenue for the quarter was $10,494 million, up 40% from $7,510 million during the same quarter of the previous year.