---
title: "Coca-Cola's 2019 National Sales Reach 40.7 Billion Yuan, with COFCO's Revenue at 17.172 Billion Yuan"
description: "Today, China Foods Limited, the major shareholder of COFCO Coca-Cola, released its full-year results. As of December 31, 2019, China Foods' total sales reached 17.172 billion yuan (RMB), a year-on-year increase of 9.7%, exceeding its performance targets. Net profit grew by up to 30.2% year-on-year to 418 million yuan. Industry analysts point out that thanks to COFCO Coca-Cola's excellent performance, China Foods has achieved 'double high' growth for two consecutive years, with 'revenue growth higher than volume growth, and profit growth higher than revenue growth.' As a specialized beverage platform, China Foods has improved profitability and operational efficiency through product mix adjustments and resource integration, demonstrating strong internal momentum to investors."
author: "New Distribution"
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published: "2020-03-24"
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original_source: "https://mp.weixin.qq.com/s/DlPEv-NqY21wG5AGSM202w"
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# Coca-Cola's 2019 National Sales Reach 40.7 Billion Yuan, with COFCO's Revenue at 17.172 Billion Yuan

> Today, China Foods Limited, the major shareholder of COFCO Coca-Cola, released its full-year results. As of December 31, 2019, China Foods' total sales reached 17.172 billion yuan (RMB), a year-on-year increase of 9.7%, exceeding its performance targets. Net profit grew by up to 30.2% year-on-year to 418 million yuan. Industry analysts point out that thanks to COFCO Coca-Cola's excellent performance, China Foods has achieved 'double high' growth for two consecutive years, with 'revenue growth higher than volume growth, and profit growth higher than revenue growth.' As a specialized beverage platform, China Foods has improved profitability and operational efficiency through product mix adjustments and resource integration, demonstrating strong internal momentum to investors.

Today, China Foods Limited, the major shareholder of COFCO Coca-Cola, released its full-year results. **As of December 31, 2019, China Foods' total sales reached 17.172 billion yuan (RMB), a year-on-year increase of 9.7%, exceeding its performance targets. Net profit grew by up to 30.2% year-on-year to 418 million yuan.**
Industry analysts point out that thanks to **COFCO Coca-Cola's excellent performance, China Foods has achieved 'double high' growth for two consecutive years, with 'revenue growth higher than volume growth, and profit growth higher than revenue growth.' As a specialized beverage platform, China Foods has improved profitability and operational efficiency through product mix adjustments and resource integration, demonstrating strong internal momentum to investors.**
In 2017, Coca-Cola's bottling operations in China were split between COFCO and Swire, and Coca-Cola's marketing data in China is reflected in the financial reports of China Foods and Swire Pacific.
**-01-****COFCO Coca-Cola's Double High Growth**
During the reporting period, China Foods recorded growth in revenue, volume, and net profit. Analysis suggests that the continuous optimization of the product mix, with both volume and price increases, significantly boosted China Foods' profitability.
**In 2019, benefiting from the effective product mix optimization strategy, COFCO Coca-Cola continued to lead in its operating regions, with sales share in major categories such as carbonated drinks and juices remaining firmly in first place, ahead of competitors.**
During the winter 'hot beverage war' in 2019, COFCO Coca-Cola globally launched four new hot beverage products. These covered the Georgia, Minute Maid, and Chun Chá She brands, including milk tea, latte, honey pomelo, and Pu'er digestive tea flavors.
During the year, with the average raw material prices flat compared to the previous year, China Foods' gross margin increased by 1.1 percentage points to 36.5%, improving year by year. Among these, the carbonated drinks category remained the 'hot product' of the year.
Data shows that the carbonated drinks and packaged water industries grew rapidly, with growth rates higher than the non-alcoholic ready-to-drink industry average. In particular, the sales share of carbonated drinks in the operating regions increased by 0.6 percentage points, maintaining a market share of over 60%, further distancing itself from major competitors.
**-02-****Swire Coca-Cola's Double High Growth**
According to Swire Pacific's financial report, in terms of revenue, **Swire Coca-Cola's revenue last year (including revenue from joint ventures, excluding sales to other bottlers) increased by 5% to HK$44.719 billion. In terms of volume, Swire Coca-Cola increased by 2% year-on-year in 2019, reaching 1.786 billion standard cases.**
In terms of profitability, Swire Coca-Cola's profit from continuing operations in 2019 was HK$1.584 billion, compared to HK$1.354 billion in 2018.
According to Swire Coca-Cola's CEO, Guy Bradley, 'The core of growth in the mainland China market lies in the restructuring of bottling franchise rights completed in 2017. Now in mainland China, Coca-Cola has two bottlers, each covering roughly half the population, and each can generate real synergies internally through the vast regions they serve. This is also a strong platform for future growth. In 2019, we have already seen this growth begin to materialize.'
**-03-****Coca-Cola's Largest Share Growth in a Decade**
Additionally, I also reviewed Coca-Cola Company's full-year 2019 financial report released at the end of January.
According to the report, **in 2019, Coca-Cola's revenue was $37.266 billion (approximately RMB 259.8 billion), a year-on-year increase of 16.17%; net profit was $8.4 billion, a year-on-year increase of 38%.**
James Quincey, Chairman and CEO of Coca-Cola Company, stated that in 2019, Coca-Cola continued to implement its all-beverage strategy, with both carbonated and non-carbonated categories performing well in the market. By retail value, it achieved the largest market share growth in nearly a decade. Among the top 40 markets globally, 34 markets saw market share growth.
The company also noted that carbonated drink volume growth was primarily driven by the Coca-Cola brand, with retail sales of the Coca-Cola brand growing 6% globally through a series of innovative initiatives. Among these, 'Coca-Cola Coffee+' carbonated drinks have been launched in over 40 markets worldwide (including China); zero-sugar Coca-Cola continued to achieve double-digit growth in 2019.
**-04-****Saying No on the Surface, but Honest in Actions**
In fact, since Coca-Cola's revenue declined 15% to $35.4 billion in 2017, the narrative that carbonated drinks are 'doomed' has been a lingering cloud over Coca-Cola.
But after looking at these sets of data, I recalled that Zong Fuli of Wahaha Group once said at the APEC forum: **'In the past two years, our sales data shows that our carbonated drink sales are growing. But when Wahaha conducts market surveys with consumers, many consumers list health as their top priority and do not like carbonated drinks in surveys. From the results, consumers say no on the surface, but their actions are honest.'**
In summary, **consumers' 'craze' for Coca-Cola carbonated drinks has not subsided; instead, it is intensifying.**
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- Published: 2020-03-24
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- Original source: https://mp.weixin.qq.com/s/DlPEv-NqY21wG5AGSM202w

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