Summary
The Coca-Cola Company announced on March 8, 2022, its decision to suspend its business operations in Russia in response to the ongoing geopolitical events. This strategic move reflects the company's commitment to adapting to rapidly evolving market conditions and global challenges. While the full financial impact is still being assessed, management provided a preliminary view by stating that Russia and Ukraine collectively accounted for approximately 1% to 2% of the company's consolidated net operating revenues and operating income in 2021. Additionally, Coca-Cola held a significant 21% ownership stake in Coca-Cola HBC AG, its key bottling and distribution partner in the affected region as of December 31, 2021. The company will continue to monitor the situation closely.
Key Highlights
- 1Coca-Cola Co. is suspending its business operations in Russia.
- 2The decision was announced on March 8, 2022.
- 3Russia and Ukraine combined represented 1-2% of consolidated net operating revenues and operating income in 2021.
- 4As of December 31, 2021, Coca-Cola held a 21% ownership interest in Coca-Cola HBC AG, a key bottling partner in the region.
- 5The company is closely monitoring the evolving situation and its impact.
- 6The disclosure was made under Regulation FD.