The company released its Q4 and FY2021 results this morning. In total, net revenues for the year grew 17% against 2020 to $38.7bn, and organic revenues (non-GAAP) grew 16%. Global unit case volume grew 8% for the full year. Operating income grew 15% for the full year.
“Compared to 2019, global unit case volume sequentially improved each quarter in 2021, resulting in full-year unit case volume being ahead of 2019," says the company.
"This performance was driven by ongoing, asynchronous recovery in many markets and the company’s ability to better adapt to successive waves of the pandemic.
"The fourth quarter marked the first quarter in which away-from-home volume was ahead of 2019, while strength in at-home channels also continued.”
With the pace of re-openings varying across the world, the company says it apply its local knowledge to each market to invest in the recovery in a targeted way.
Volume growth: sparkling soft drinks and energy
Volume increases (across on-trade and off-trade) were seen across the board. Sparkling soft drinks grew 7% over the year, coming out on top of 2019 volumes, thanks to strong performance across the world.
Similarly, 12% growth in 2021 for the company’s nutrition, juice, dairy and plant-based beverages division saw these beverages beat 2019 volumes.
With the strong growth of Bodyarmour in the US (in which the company acquired the remaining 85% ownership interest in November for $5.6bn) sports drinks grew 13% over the year, again with volume ahead of 2019.
“In 2021, our system demonstrated resilience and flexibility by successfully navigating through another year of uncertainty,” said James Quincey, Chairman and CEO of The Coca-Cola Company.
“We focused on our key strategies and emerged stronger. We are confident that progress on our strategic transformation has made us a nimbler total beverage company. While the environment remains dynamic, we will build on the momentum from 2021 to drive topline growth and maximize returns.”