ATLANTA — Higher global volume contributed to a 5% increase in income at The Coca-Cola Co. during 2012.
For the year ended Dec. 31, 2012, the company had income of $9,019 million, equal to $2 per share on the common stock, which compared with income of $8,584 million, or $1.88 per share, during the previous year. Gross profit during the year was $28,964 million, up 2% from $28,327 million during the previous year.
The company said it had full-year global volume growth of 4%, led by a 3% increase from the Coca-Cola brand. The company grew global volume and value share in nonalcoholic ready-to-drink beverages with volume and value share gains across nearly every beverage category. Worldwide sparkling beverage volume grew 3% for the year with worldwide still beverage volume growing 10% and ready-to-drink tea growing 14%.
“In a year marked by continued uncertainty in the global economy, we delivered solid volume, revenue and profit growth, and we realized further volume and value share gains in nonalcoholic ready-to-drink beverages,” said Muhtar Kent, chairman and chief executive officer. “The Coca-Cola Co. has consistently delivered quality results and met or exceeded its long-term volume, revenue and profit growth targets every year since the announcement of our 2020 vision at the end of 2009. This reflects the commitment of our entire system to invest together for a better tomorrow and to sustainably create shared value while making a positive difference in the communities we serve. Together we are delivering on our priorities and achieving success.”
For the fourth quarter ended Dec. 31, overall net income rose 13% to $1,866 million, or 42c per share, up from income of $1,657 million, or 37c per share, during the same quarter of the previous year. Gross profit for the quarter was $6,827 million, up 3% from $6,637 million during the same quarter of the previous year.The company said international volume grew 4% during the quarter with North America volume growing 1%.