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First Half 2016 Sales Volume Announcement


Consolidated Sales Volume

Consolidated sales volume increased by 4.9% to 360 mn uc in 2Q16, while volume was up by 3.6% to 582 mn uc in 1H16. Turkey sales volume made up 50% of total volume in 1H16, compared to 51% in 1H15.

Turkey Sales Volume

Turkey operations delivered 3.6% volume growth in 2Q16 while sales volume was up by 2.6% to 292 mn uc in the first half of 2016.

In 2Q16, Ramadan campaigns and consumer activities such as ‘Taste the Feeling' campaign, National Football League and Eurocup a ctivation s had a positive impact on volume figures.

Sparkling category volume registered 2.7% growth in 2Q16 with the number of transactions slightly lagging behind volume growth , which is mainly attributable to Ramadan promotions supporting future consumption (FC) packages. Sparkling volume declined by 2.1% in 1H16 due to contraction in the first quarter. Nonetheless, transactions grew ahead of unit case volumes in 1H16.

Still beverages, including water, grew by 4.5% in 2Q16, driven by double digit volume growth of the ice tea and high single digit growth in water categories. In the first half of the year, still category delivered 12.6% volume growth, led by water and ice tea categories.

Non-ready-to-drink (NRTD) tea category delivered 5.8% and 2.9% volume growth in 2Q16 and 1H16, respectively.

International Sales Volume

International operations delivered 6.3% volume growth in 2Q16, mainly driven by Pakistan operations. Sales volume growth of international operations reached 290 mn uc in the first half of the year, translating into 4.7% yoy growth.

In Pakistan, volume growth was quite strong in 2Q16 with 28.1%, bringing 1H16 figure to 22.6%. ‘ Taste the Feeling ' campaign, Ramadan campaigns and new product launches , such as Coke Zero and new f lavor s of Fanta , contributed to volume growth in the second quarter of the year. S parkling category registered 30.1% growth in 2Q16, carrying 1H16 figure to 23.8% growth . Effective discount management continues to support both volumes and profitability in Pakistan.

Central Asia volume was down by 16.8% in 2Q16, bringing 1H16 figure to 14.8% contraction, cycling the strong base of 1H15, especially in Kazakhstan. Central Asia deliver ed a better-than-planned performance thanks to higher than expected oil prices stimulating the economic recovery . However, volume contraction continue d due to the sharp currency devaluations towards the end of 2015. Sales volume of Kazakhstan, CCI's flagship market in the region, was down by 14.7% and 13.4% in 2Q16 and 1H16, respectively.

Across Middle East, volume contracted by 7.9% in 2Q16, while 1H16 volume figure was down by 3.8%. Given the challenging macroeconomic environment in South Iraq and escalating security issues in North Iraq, total Iraq volume contracted by 9.4% in 2Q16 and 6.1% in 1H16 . Jordan, a relatively smaller market for CCI, posted low single digit volume growth in 2Q16 with 1H16 volume growth reaching 11.5%.


We hereby declare that our above statements are in conformity with the principles included in the Capital Markets Board's Communiqué on Material Events, that they fully reflect the information we have acquired, that the information complies with our books, records and documents, that we have made our best effort to fully and accurately obtain all information regarding the matter and that we are responsible for this disclosure made hereby.

This is an English translation of the original official public disclosure made by Coca-Cola İçecek in Turkish through the Public Disclosure Platform (www.kap.gov.tr), for information purposes only. In the event of any discrepancy between this translation and the original Turkish disclosure, the original Turkish disclosure shall prevail. Coca-Cola İçecek makes no warranties or representations about the accuracy or completeness of the English translation and assumes no liability for any errors, ommissions or inaccuracies that may arise from use of this translation.