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Coca-Cola estimated the losses from leaving Russia

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Thursday, 11 August, 2022, 15:42
Coca-Cola estimated the losses from leaving Russia

Coca-Cola HBC AG said on Thursday it incurred a one-time hit of 190 million euros ($195.36 million) in the first-half due to costs related to its business in Russia after it stopped sale of Coca-Cola drinks in the country following the Ukraine war.

The soft drinks bottler, which once counted Russia as one of its biggest markets, also expects to sustain financial charges of about 82 million euros in the second-half as it depleted all its stocks and would no longer produce or sell Coca-Cola or other brands of the Coca-Cola Company in Russia.