Carbonated Soft Drinks-Libre

MarketLine Industry Profile
Carbonated Soft
Drinks in Europe
August 2013
Reference Code: 0201-0028
Publication Date: August 2013
WWW.MARKETLINE.COM
MARKET LINE. T HIS PROFILE IS A LICENSED PRODUCT AND IS NOT T O BE PHOT OCOPIED
Europe - Carbonated Soft Drinks

MARKETLINE THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
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EXECUTIVE SUMMARY
Market value
The European carbonated soft drinks market grew by 2.3% in 2012 to reach a value of $69,223.5 million.
Market value forecast

In 2017, the European carbonated soft drinks market is forecast to have a value of $78,646.4 million, an increase of
13.6% since 2012.
Market volume
The European carbonated soft drinks market grew by 2.2% in 2012 to reach a volume of 57,990.2 million liters.
Market volume forecast

In 2017, the European carbonated soft drinks market is forecast to have a volume of 64,921.1 million liters, an increase
of 12% since 2012.
Category segmentation
Standard cola is the largest segment of the carbonated soft drinks market in Europe, accounting for 36.9% of the
market's total value.
Geography segmentation
The United Kingdom accounts for 18.7% of the European carbonated soft drinks market value.
Market share
The Coca-Cola Company is the leading player in the European carbonated soft drinks market, generating a 50.8% share
of the market's volume.
Market rivalry
Rivalry in the European market is affected by continuing concentration of market share by the top four key players.

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TABLE OF CONTENTS
Executive Summary..........................................................................................................................................................................2
Market value ..................................................................................................................................................................................2
Market value forecast...................................................................................................................................................................2
Market volume...............................................................................................................................................................................2
Market volume forecast ...............................................................................................................................................................2
Category segmentation................................................................................................................................................................2
Geography segmentation ............................................................................................................................................................2
Market share..................................................................................................................................................................................2
Market ri valry .................................................................................................................................................................................2
Market Overview ...............................................................................................................................................................................7
Market definition............................................................................................................................................................................7
Market analysis .............................................................................................................................................................................7
Market Data........................................................................................................................................................................................8
Market value ..................................................................................................................................................................................8
Market volume...............................................................................................................................................................................9
Market Segmentation .....................................................................................................................................................................10
Category segmentation..............................................................................................................................................................10
Geography segmentation ..........................................................................................................................................................11
Market share................................................................................................................................................................................12
Market distribution ......................................................................................................................................................................13
Market Outlook ................................................................................................................................................................................14
Market value forecast.................................................................................................................................................................14
Market volume forecast .............................................................................................................................................................15
Five Forces Analysis ......................................................................................................................................................................16
Summary......................................................................................................................................................................................16
Buyer power.................................................................................................................................................................................17
Supplier power ............................................................................................................................................................................18
New entrants ...............................................................................................................................................................................19
Threat of substitutes...................................................................................................................................................................20
Degree of rivalry..........................................................................................................................................................................21
Leading Companies........................................................................................................................................................................22

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Britvic plc ......................................................................................................................................................................................22

The Coca-Cola Company..........................................................................................................................................................25
PepsiCo, Inc. ...............................................................................................................................................................................29
Suntory Group .............................................................................................................................................................................33
Appendix...........................................................................................................................................................................................37
Methodology................................................................................................................................................................................37
Industry associations..................................................................................................................................................................38
Related MarketLine research....................................................................................................................................................38

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LIST OF TABLES
Table 1: Europe carbonated soft drinks market value: $ million, 200812..............................................................................8
Table 2: Europe carbonated soft drinks market volume: million liters, 200812....................................................................9
Table 3: Europe carbonated soft drinks market category segmentation: $ million, 2012 ...................................................10
Table 4: Europe carbonated soft drinks market geography segmentation: $ million, 2012 ................................................11
Table 5: Europe carbonated soft drinks market share: % share, by volume, 2012 .............................................................12
Table 6: Europe carbonated soft drinks market distribution: % share, by volume, 2012 ....................................................13
Table 7: Europe carbonated soft drinks market value forecast: $ million, 2012 17 ............................................................14
Table 8: Europe carbonated soft drinks market volume forecast: million liters, 201217...................................................15
Table 9: Britvic plc: key facts.........................................................................................................................................................22
Table 10: Britvic plc: key financials ($) ........................................................................................................................................23
Table 11: Britvic plc: key financials () ........................................................................................................................................23
Table 12: Britvic plc: key financial ratios .....................................................................................................................................23
Table 13: The Coca-Cola Company: key facts ..........................................................................................................................25
Table 14: The Coca-Cola Company: key financials ($) ............................................................................................................26
Table 15: The Coca-Cola Company: key financial ratios .........................................................................................................27
Table 16: PepsiCo, Inc.: key facts ................................................................................................................................................29
Table 17: PepsiCo, Inc.: key financials ($) .................................................................................................................................31
Table 18: PepsiCo, Inc.: key financial ratios...............................................................................................................................31
Table 19: Suntory Group: key facts .............................................................................................................................................33
Table 20: Suntory Group: key financials ($) ...............................................................................................................................34
Table 21: Suntory Group: key financials () ...............................................................................................................................34
Table 22: Suntory Group: key financial ratios ............................................................................................................................35

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LIST OF FIGURES
Figure 1: Europe carbonated soft drinks market value: $ million, 2008 12 ............................................................................8
Figure 2: Europe carbonated soft drinks market volume: million liters, 200812...................................................................9
Figure 3: Europe carbonated soft drinks market category segmentation: % share, by value, 2012 .................................10
Figure 4: Europe carbonated soft drinks market geography segmentation: % share, by value, 2012 .............................11
Figure 5: Europe carbonated soft drinks market share: % share, by volume, 2012 ............................................................12
Figure 6: Europe carbonated soft drinks market distribution: % share, by volume, 2012...................................................13
Figure 7: Europe carbonated soft drinks market value forecast: $ million, 201217 ...........................................................14
Figure 8: Europe carbonated soft drinks market volume forecast: million liters, 201217 .................................................15
Figure 9: Forces driving competition in the carbonated soft drinks market in Europe, 2012..............................................16
Figure 10: Drivers of buyer power in the carbonated soft drinks market in Europe, 2012 ..................................................17
Figure 11: Drivers of supplier power in the carbonated soft drinks market in Europe, 2012 ..............................................18
Figure 12: Factors influencing the likelihood of new entrants in the carbonated soft drinks market in Europe, 2012....19
Figure 13: Factors influencing the threat of substitutes in the carbonated soft drinks market in Europe, 2012..............20
Figure 14: Drivers of degree of rivalry in the carbonated soft drinks market in Europe, 2012 ...........................................21
Figure 15: Britvic plc: revenues & profitability ............................................................................................................................24
Figure 16: Britvic plc: assets & liabilities .....................................................................................................................................24
Figure 17: The Coca-Cola Company: revenues & profitability ................................................................................................27
Figure 18: The Coca-Cola Company: assets & liabilities .........................................................................................................28
Figure 19: PepsiCo, Inc.: revenues & profitability......................................................................................................................32
Figure 20: PepsiCo, Inc.: assets & liabilities...............................................................................................................................32
Figure 21: Suntory Group: revenues & profitability ...................................................................................................................35
Figure 22: Suntory Group: assets & liabilities ............................................................................................................................36

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MARKET OVERVIEW
Market definition
The carbonated soft drinks market consists of retail sales of diet cola, standard cola, fruit-flavored carbonates, mixers
and other carbonates. The market is valued according to retail selling price (RSP) and includes any applicable taxes.
An y currency conversions used in the compilation of this report have been calculated using 2012 annual average
exchange rates.
For the purposes of this report, Europe consists of Western Europe and Eastern Europe.
Western Europe comprises Austria, Belgium, Denmark, France, Finland, Germany, Greece, Italy, Ireland, the
Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the United Kingdom.
Eastern Europe comprises the Czech Republic, Hungary, Poland, Romania, Russia, and Turkey.
Market analysis
The European carbonated soft drinks market has experienced weak growth in value and volume in recent years. The
market is, however, expected to produce slightly stronger moderate growth to the end of the forecast period to 2017.
The European carbonated soft drinks market had total revenues of $69,223.5m in 2012, representing a compound
annual growth rate (CAGR) of 1.5% between 2008 and 2012. In comparison, the German and UK markets grew with
CAGRs of 1.7% and 2.6% respectively, over the same period, to reach respective values of $10,431.2m and $12,945.8m
in 2012.
Market consumption volumes increased with a CAGR of 1.4% between 2008 and 2012, to reach a total of 57,990.2
million liters in 2012. The market's volume is expected to rise to 64,921.1 million liters by the end of 2017, representing a
CAGR of 2.3% for the 2012-2017 period.
The standard cola segment was the market's most lucrative in 2012, with total revenues of $25,538.1m, equivalent to
36.9% of the market's overall value. The fruit-flavored carbonates segment contributed revenues of $24,738.9m in 2012,
equating to 35.7% of the market's aggregate value.
The performance of the market is forecast to accelerate, with an anticipated CAGR of 2.6% for the five -year period 2012
- 2017, which is expected to drive the market to a value of $78,646.4m by the end of 2017. Comparatively, the German
and UK markets will grow with CAGRs of 1.6% and 4.4% respectively, over the same period, to reach respective values
of $11,274.2m and $16,063.6m in 2017.

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MARKET DATA
Market value
The European carbonated soft drinks market grew by 2.3% in 2012 to reach a value of $69,223.5 million.
The compound annual growth rate of the market in the period 200812 was 1.5%.
Table 1: Europe carbonated soft drinks market value: $ million, 200812

Year
$ million
million
2008
65,221.8
50,732.6
2009
66,115.4
51,427.6
1.4%
2010
67,098.1
52,192.0
1.5%
2011
67,686.7
52,649.9
0.9%
2012
69,223.5
53,845.3
2.3%
CAGR: 200812
SOURCE: MARKETLINE
% Growth
1.5%
M AR KE TL IN E
Figure 1: Europe carbonated soft drinks market value: $ million, 2008 12
SOURCE: MARKETLINE

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Market volume
The European carbonated soft drinks market grew by 2.2% in 2012 to reach a volume of 57,990.2 million liters.
The compound annual growth rate of the market in the period 200812 was 1.4%.
Table 2: Europe carbonated soft drinks market volume: million liters, 2008 12
Year
million liters
2008
54,875.8
2009
56,015.2
2.1%
2010
56,821.7
1.4%
2011
56,753.1
(0.1%)
2012
57,990.2
2.2%
CAGR: 200812
SOURCE: MARKETLINE
% Growth
1.4%
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Figure 2: Europe carbonated soft drinks market volume: million liters, 200812
SOURCE: MARKETLINE

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MARKET SEGMENTATION
Category segmentation
Standard cola is the largest segment of the carbonated soft drinks market in Europe, accounting for 36.9% of the
market's total value.
The Fruit-flavored carbonates segment accounts for a further 35.7% of the market.
Table 3: Europe carbonated soft drinks market category segmentation: $ million, 2012
Category
2012
Standard cola
25,538.1
36.9%
Fruit-flavored carbonates
24,738.9
35.7%
Diet cola
9,977.5
14.4%
Mi xers
3,039.4
4.4%
Other
5,929.6
8.6%
Total
69,223.5
100%
SOURCE: MARKETLINE
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Figure 3: Europe carbonated soft drinks market category segmentation: % share, by value, 2012
SOURCE: MARKETLINE

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Geography segmentation
The United Kingdom accounts for 18.7% of the European carbonated soft drinks market value.
Germany accounts for a further 15.1% of the European market.
Table 4: Europe carbonated soft drinks market geography segmentation: $ million, 2012
Geography
2012
United Kingdom
12,945.8
18.7
Germany
10,431.2
15.1
Spain
7,871.4
11.4
France
4,582.6
6.6
Italy
4,500.9
6.5
Rest of Europe
28,891.5
41.7
Total
69,223.4
100%
SOURCE: MARKETLINE
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Figure 4: Europe carbonated soft drinks market geography segmentation: % share, by value, 2012
SOURCE: MARKETLINE

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Market share
The Coca-Cola Company is the leading player in the European carbonated soft drinks market, generating a 50.8% share
of the market's volume.
Pepsico, Inc. accounts for a further 15% of the market.
Table 5: Europe carbonated soft drinks market share: % share, by volume, 2012
Company
% Share
The Coca-Cola Company
50.8%
Pepsico, Inc.
15.0%
Suntory Group
3.8%
Britvic Plc
2.3%
Other
28.1%
Total
100%
SOURCE: MARKETLINE
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Figure 5: Europe carbonated soft drinks market share: % share, by volume, 2012
SOURCE: MARKETLINE

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Market distribution
Supermarkets / hypermarkets form the leading distribution channel in the European carbonated soft drinks market,
accounting for a 40.6% share of the total market's volume.
On-trade accounts for a further 27.4% of the market.
Table 6: Europe carbonated soft drinks market di stribution: % share, by volume, 2012
Channel
% Share
Supermarkets / hypermarkets
40.6%
On-trade
27.4%
Independent retailers
11.2%
Vending machines
5.6%
Other
15.2%
Total
100%
SOURCE: MARKETLINE
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Figure 6: Europe carbonated soft drinks market di stribution: % share, by volume, 2012
SOURCE: MARKETLINE

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MARKET OUTLOOK
Market value forecast
In 2017, the European carbonated soft drinks market is forecast to have a value of $78,646.4 million, an increase of
13.6% since 2012.
The compound annual growth rate of the market in the period 201217 is predicted to be 2.6%.
Table 7: Europe carbonated soft drinks market value forecast: $ million, 201217
Year
$ million
million
% Growth
2012
69,223.5
53,845.3
2.3%
2013
71,011.7
55,236.3
2.6%
2014
72,855.4
56,670.3
2.6%
2015
74,771.1
58,160.5
2.6%
2016
76,770.7
59,715.8
2.7%
2017
78,646.4
61,174.9
2.4%
CAGR: 201217
SOURCE: MARKETLINE
2.6%
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Figure 7: Europe carbonated soft drinks market value forecast: $ million, 201217
SOURCE: MARKETLINE

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Market volume forecast

In 2017, the European carbonated soft drinks market is forecast to have a volume of 64,921.1 million liters, an increase
of 12% since 2012.
The compound annual growth rate of the market in the period 201217 is predicted to be 2.3%.
Table 8: Europe carbonated soft drinks market volume foreca st: million liters, 201217
Year
million liters
% Growth
2012
57,990.2
2.2%
2013
59,348.8
2.3%
2014
60,717.8
2.3%
2015
62,124.6
2.3%
2016
63,564.5
2.3%
2017
64,921.1
2.1%
CAGR: 201217
SOURCE: MARKETLINE
2.3%
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Figure 8: Europe carbonated soft drinks market volume foreca st: million liters, 201217
SOURCE: MARKETLINE

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FIVE FORCES ANALYSIS

The carbonated soft drinks market will be analyzed taking soft drinks manufacturers as players. The key buyers will be
taken as bottling companies and retailers, and producers of packaging, soft drinks ingredients and other raw materials as
the key suppliers.
Summary
Figure 9: Force s driving competition in the carbonated soft drinks market in Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
Rivalry in the European market is affected by continuing concentration of market share by the top four key players.
Bottling companies and retailers represent the main buyers in the carbonated soft drinks market, the latter of which
constitutes the more significant force. However, despite the financial muscle of larger retailers, it is public demand that is
the central driver of sales within this market. Shaped by heavy marketing campaigns, brand consciousness ensures that
popular products must be stocked by retailers, reducing buyer power to moderate levels.
Supplier power is not substantial, as most inputs are readily available commodities. New entrants to the market face
significant obstacles, such as strong brand loyalty and significant fixed costs.
With economies of scale further favouring established manufacturers, the threat from new entrants is weak.
There are various products such as tea, coffee and non -carbonated soft drinks that may serve as substitutes to
carbonated soft drinks, yet the diversity of public demand ensures a wide rang e of products will continue to be stocked
by retailers. The threat from substitutes is, therefore, only moderate.
During periods of decline or limited growth, manufacturers with large fixed costs can be forced into direct competition
with one another for a limited pool of consumers. Although concentration of the market reduces the intensity of market
rivalry, with dominant companies secure in their relevant area and bolstered by a strong brand image, the large size of
players serves to increase rivalry, which is assessed as moderate overall.

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Buyer power
Figure 10: Drivers of buyer power in the carbonated soft drinks market in Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
The distribution of carbonated soft drinks is achieved through a variety of means in this market, resulting in a large
number of buyers.
It is not uncommon for manufacturers, such as The Coca -Cola Company and PepsiCo, to produce soft drinks that are
ready for consumption and supply retailers directly.
The leading players generate most of their revenue from the production of concentrates, which are sold to bottling
companies. Some bottlers are independent, whereas others are owned by the big -name manufacturers, and are usually
described as 'partners' and 'customers'. The bottlers are licensed to convert purchased raw materials into soft drinks,
packaged with the manufacturers' branding, and distribute them as ready for sale commodities to buyers within a
particular sales territory.
Although the majority of bottlers are free to make their own business decisions, the close ties between manufacturers
and bottlers mean that food & beverage retailers are arguably the more significant buyers from the point of view of
market players. The financial muscle of such retailers is enhanced by the concentration of the retail market, with
supermarkets and hypermarkets accounting for the largest proportion of retail distribution.
However, a strong level of brand consciousness amongst consumers undercuts this position of strength. Consumers in
this market are likely to be strongly influenced by brand, and this weakens buyer power, as retailers are forced to stock
brands popular with consumers. Failure to stock successful items can be highly detrimental for a retailer.
Overall, buyer power is assessed as moderate.

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Supplier power
Figure 11: Drivers of supplier power in the carbonated soft drinks market in Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
Manufacturers in this market, require access to a range of ingredients, including sweeteners, refined sugar (sucrose) and
aspartame.
Although certain ingredients are available from more than one supplier, such sourcing remains vulnerable to fluctuations
in the market price of the relevant commodity.
Other ingredients, such as aspartame, can be acquired only from a limited number of companies upstream. However,
even in these cases, there are usually substitutes available.
For example, if aspartame becomes expensive or unobtainable, then it can be substituted by saccharine and other
similar products.
Water, which is the major input in this market, may raise the concerns of multinational players, especially in some
countries, where water scarcity is a risk factor for their business.
Ad vertising and m arketing agencies also play significant role in the brand building process in the carbonated soft drinks
market. Years of consolidation has left the advertising industry highly concentrated in most countries, strengthening
supplier power to some extent.
Overall, supplier power is assessed as moderate in this market.

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New entrants
Figure 12: Factors influencing the likelihood of new entrants in the carbonated soft drinks market
in Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
Although it would be difficult for a new entrant to compete with the brand strength and reach of existing incumbents, it
may be possible to achieve small-scale success stressing a unique production method.
However, even if a new player opts for a business model in which much of the production process is performed by
bottling partners under license, there will still be a need to invest in manufacturing capacity in order to produce the
concentrates.
The nature of the market also demands an extensive marketing campaign in order to generate and maintain a successful
brand image. With The Coca-Cola Company and PepsiCo so firmly established within the market, even aside from the
costs, this acts as a daunting deterrent to many potential entrants.
The effect of economies of scale which benefits current mass manufacturers of such products also makes it difficult for a
new entrant to enter into the market.
In addition, new entrants would also face stringent regulation from a number of EU directives concerning th e ingredients,
safety and labelling requirements of carbonated soft drink products. Following the recent EU Regulation 1169/2011, new
entrants will also face stricter regulation concerning the labelling, presentation and advertising of foodstuffs, as well as
nutrition labelling requirements from December 2014 onwards.
Furthermore, the market has achieved unexciting growth in the past few years, making it a less attractive prospect to
potential new entrants.
Overall, there is a weak likelihood of new entrants.

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Threat of substitutes
Figure 13: Factors influencing the threat of substitute s in the carbonated soft drinks market in
Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
There are many substitutes for carbonated soft drinks available for both: retailers and end-users. Some examples
include: tea, coffee, and non-carbonated soft drinks, such as squash or juice.
Leading players tend to have diverse product ranges, which reduces the threat posed by substitutes. For example, C ocaCola offers a wide range of drink products, including water and juices, outside of its core offering of carbonated soft
drinks.
In this market, an increasing health consciousness amongst consumers may serve to cause retailers to favor healthier
alternatives to carbonated soft drinks.
Furthermore, switching in the sense of allocating more shelf space to the substitutes may be advantageous in cost terms
(substitutes such as coffee, tea and squash can be stored at room temperature instead of fridges). This may be
especially beneficial in countries where electricity is relatively e xpensive, such as India.
The threat from substitutes is increasing in this market; however, at the moment, it remains moderate.

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Degree of rivalry
Figure 14: Drivers of degree of rivalry in the carbonated soft drinks market in Europe, 2012
SOURCE: MARKETLINE
M AR KE TL IN E
The European carbonated soft drinks market is heavily concentrated, with the top four players alone accounting for
71.9% of the total market volume.
The companies that operate under high fixed costs, due to specialist production facilities and marketing campaigns, have
less freedom to scale down during periods of slow or poor growth. Equally, with the nature of the market, economies of
scale favor mass manufacturers and encourage expansion. For these reasons, companies can be pushed into direct
competition for a limited number of consumers.
Some carbonated soft drinks companies outsource later stages of their production process to third parties, in order to
evade some of these difficulties, reducing the possibility of its market exit. However, for players who own the majority of
their manufacturing resources, this option is unavailable.
With only a limited number of players, competition is lessened as each player establishes a more secure segment of the
market, aided by strong branding and product differentiation, although the size of major players serve to increase rivalry
to an extent.
Additionally, recent poor market performance further exacerbates the rivalry within this market.
Overall, there is a moderate degree of rivalry in the European carbonated soft drinks market.

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LEADING COMPANIES
Britvic plc
Table 9: Britvic plc: key facts
Head office:
Breakspear Park, Breakspear Way, Hertfordshire HP2 4TZ, GBR
Telephone:
44 1442 284 411
Fax:
44 1442 284 402
Website:
www.britvic.com
Financial year-end:
September
Ticker:
BVIC
Stock exchange:
London
SOURCE: COMPANY WEBSITE
M AR KE TL IN E
Britvic is a UK-based company, engaged in manufacturing and distributing soft drinks. The company has operations in
the UK, France, and Ireland.
The company operates through five business units including Britvic GB, Britvic Ireland, Britvic France, Britvic
International, and Britvic Worldwide.
Britvic GB provides soft drink brands including Robinsons, Fruit Shoot, J2O, Tango, and Drench. It also supplies various
brands including Pepsi, 7UP, and Mountain Dew, which are bottled under franchise from PepsiCo and Tango. Britvic
Ireland's brands include Ballygowan, Mi Wadi, and Club. It also operates PepsiCo bottling agreements for Pepsi and
7UP.
The company's Britvic France brands include Teisseire, Moulin de Valdonne, Fruite, and Pressade. It supplies private label juice and syrup to its customers. Britvic International manages the export of products across more than 50
countries. Britvic Worldwide operates the Britvic's international franchise business.
Britvic operates 12 factories across the UK that produces around 1.9 billion liters of soft drinks annually. Britvic e xports
its products to markets including the Netherlands, Sweden, Finland, Denmark, and Norway. The company also exports
to over 50 countries globally and operates brand franchises in the US, Australia, and Malta.
The company's subsidiaries include Britannia Soft Drinks Limited, Britvic Finance No 2 Limited, Britvic International
Limited, Britvic Soft Drinks Limited, Britvic Irish Holdings Limited, Britvic Ireland Limited, Britvic Northern Ireland Limit ed,
Aquaporte Limited, Britvic Worldwide Brands Limited, Britvic North America LLC, Britvic France SNC, Fruite Entreprises
SA, Fruite SAS, Bricfruit SAS, Unisource SAS, Teisseire SAS, and Teisseire Benelux SA.
Key Metrics
The company recorded revenues of $1,990m in the fiscal year ending September 2012, a decrease of 2.6% compared to
fiscal 2011. Its net income was $90m in fiscal 2012, compared to a net income of $92m in the preceding year.

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Table 10: Britvic plc: key financials ($)

$ million
2008
2009
2010
2011
2012
1,468.9
1,551.3
1,804.8
2,044.1
1,990.2
50.7
74.5
(76.1)
91.9
90.3
Total assets
1,174.2
1,353.2
1,659.1
1,687.6
1,625.8
Total liabilities
1,159.9
1,356.4
1,706.6
1,652.7
1,567.2
3,153
3,036
3,025
3,532
3,337
Revenues
Net income (loss)
Employees
SOURCE: COMPANY FILINGS
M AR KE TL IN E
Table 11: Britvic plc: key financials ()

million
2008
2009
2010
2011
2012
Revenues
927.0
979.0
1,139.0
1,290.0
1,256.0
32.0
47.0
(48.0)
58.0
57.0
Total assets
741.0
854.0
1,047.0
1,065.0
1,026.0
Total liabilities
732.0
856.0
1,077.0
1,043.0
989.0
Net income (loss)
M AR KE TL IN E
Table 12: Britvic plc: key financial ratios

Ratio
2008
2009
2010
2011
2012
Profit margin
3.5%
4.8%
(4.2%)
4.5%
4.5%
29.5%
5.6%
16.3%
13.3%
(2.6%)
6.3%
15.2%
22.6%
1.7%
(3.7%)
Revenue growth
Asset growth
Liabilities growth
5.8%
16.9%
25.8%
(3.2%)
(5.2%)
Debt/asset ratio
98.8%
100.2%
102.9%
97.9%
96.4%
Return on assets
4.5%
5.9%
(5.0%)
5.5%
5.5%
$465,877
$510,971
$596,642
$578,741
$596,416
$16,082
$24,531
($25,144)
$26,021
$27,067
Revenue per employee

Profit per employee

M AR KE TL IN E
0201 - 0028 - 2012

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Figure 15: Britvic plc: revenue s & profitability
M AR KE TL IN E
Figure 16: Britvic plc: a ssets & liabilities

M AR KE TL IN E
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The Coca-Cola Company

Table 13: The Coca-Cola Company: key facts
Head office:
One Coca-Cola Plaza, Atlanta, Georgia 30313, USA
Telephone:
1 404 676 2121
Website:
www.thecoca-colacompany.com
Financial year-end:
December
Ticker:
KO
Stock exchange:
New York
M AR KE TL IN E
Coca-Cola engages in the manufacturing, distribution and marketing of non -alcoholic beverage concentrates and syrups.
The company owns one of the world's most valuable brands: Coca -Cola. Furthermore, Coca-Cola markets four of the
world's top five nonalcoholic sparkling beverage brands: Coca-Cola, Diet Coke, Fanta and Sprite. The company's
finished beverage products are sold in more than 200 countries worldwide.
Coca-Cola produces more than 3,500 beverage products, including a variety of sparkling and still beverages. The
company manufactures beverage concentrates and syrups, which it sells to authorized bottling and canning operators.
The company also manufactures finished beverages. Coca-Cola owns or licenses nearly 500 brands, including diet and
light beverages, waters, enhanced waters, juice and juice drinks, teas, coffees, and energy and sports drinks. In addition,
the company has ownership interests in a number of bottling and canning operations, most of which are independently
owned and managed.
Most of Coca-Cola's products are manufactured and sold by bottling partners, who convert them into finished packaged
products for sale to distributors and other customers. The company sells the concentrates and syrups for bottled and
canned beverages to authorized bottling and canning operations. Authorized bottlers and canners either combine syrups
with sparkling water or combine concentrates with sweeteners (depending on the product), still water and sparkling water
to produce finished sparkling beverages. These sparkling beverages are packaged in cans, glass and plastic bottles and
sold to wholesalers and retailers. In addition to selling concentrates and syrups for making sparkling beverages and
flavored still beverages, the company also sells concentrates for purified water products such as Dasani to authorized
bottling operations.
The company's beverage products under the Coca-Cola trade mark include Coca-Cola, Diet Coke and Coca-Cola Zero
and all their variations and line extensions, including Coca -Cola Light, caffeine free Diet Coke and Cherry Coke. Other
trade mark beverages sold by the company include Fanta Orange, Fanta Zero Orange, Fanta Apple, Sprite, Diet Sprite,
Sprite Zero, Sprite Light, Simply Orange, Simply Apple and Simply Grapefruit. The compan y also manufactures, markets
and sells the Dobriy juice products primarily in Russia, Ukraine and Belarus by Multon, a Russian juice business
operated as a joint venture with CocaCola Hellenic Bottling Company. In Brazil, Coca -Cola manufactures, markets and
sells Leo and Matte Leo teas through a joint venture with its bottling partners. In Mexico and Brazil, the company
manufactures, markets and sells juices and juice drinks under the Del Valle trademark through joint ventures with its
bottling partners.
Coca-Cola operates its business through six business segments, classified based on geographical presence: North
America, Eurasia and Africa, Europe, Latin America, Pacific, and Bottling investments. Coca -Cola also reports a nonoperating segment: corporate.

0201 - 0028 - 2012

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The North American business segment consists of Coca-Cola Refreshments (CCR) and the other operations in North
America. In 2010, the company acquired the North American business of Coca -Cola Enterprises (CCE). This business
was combined with its existing foodservice business, Minute Maid and Odwalla juice businesses, North America supply
chain operations, and company-owned bottling operations in Philadelphia, Pennsylvania into a unified bottling and
customer service organization called CCR. The remaining Coca-Cola North America (CCNA) operations were reshaped
into an organization that primarily provides franchise leadership and consumer marketing and innovation for the North
American market.
The Eurasia and Africa business segment consists of six business units: Central, East and West Africa; India and South
West Asia; Middle-East and North Africa; Russia, Ukraine and Belarus; South Africa; and Turkey, Caucasus and Central
Asia.
The Europe business segment consists of Central and Southern Europe, Germany, Iberia, and Northwest Europe and
Nordics business units.
The Latin American business segment comprises of Brazil, Latin center, Me xico and South Latin business units.
Coca-Cola's Pacific business segment includes Association of South East Asian Nations (ASE AN) business unit, Greater
China and Korea business unit, Japan business unit and South Pacific business unit.
The bottling investment business segment operates through six business units: China, Malaysia and Singapore;
Germany; India and Bangladesh; Latin America and Japan; Russia, Middle East and Africa; and Philippines.
Key Metrics
The company recorded revenues of $48,017m in the fiscal year ending December 2012, an increase of 3.2% compared
to fiscal 2011. Its net income was $9,019m in fiscal 2012, compared to a net income of $8,572m in the preceding year.
Table 14: The Coca-Cola Company: key financials ($)

$ million
2008
2009
2010
2011
2012
31,944.0
30,990.0
35,119.0
46,542.0
48,017.0
5,807.0
6,824.0
11,809.0
8,572.0
9,019.0
Total assets
40,519.0
48,671.0
72,921.0
79,974.0
86,174.0
Total liabilities
12,988.0
13,721.0
41,604.0
48,053.0
53,006.0
92,400
92,800
139,600
146,200
150,900
Revenues
Net income (loss)
Employees

M AR KE TL IN E
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Table 15: The Coca-Cola Company: key financial ratios

Ratio
2008
2009
2010
2011
2012
Profit margin
18.2%
22.0%
33.6%
18.4%
18.8%
Revenue growth
10.7%
(3.0%)
13.3%
32.5%
3.2%
Asset growth
(6.4%)
20.1%
49.8%
9.7%
7.8%
Liabilities growth
(39.7%)
5.6%
203.2%
15.5%
10.3%
Debt/asset ratio
32.1%
28.2%
57.1%
60.1%
61.5%
Return on assets
13.9%
15.3%
19.4%
11.2%
10.9%
$345,714
$333,944
$251,569
$318,345
$318,204
$62,846
$73,534
$84,592
$58,632
$59,768

Profit per employee
M AR KE TL IN E
Figure 17: The Coca-Cola Company: revenues & profitability

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Figure 18: The Coca-Cola Company: asse ts & liabilities

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PepsiCo, Inc.
Table 16: PepsiCo, Inc.: key facts
Head office:
700 Anderson Hill Road, Purchase, New York 10577, USA
Telephone:
1 914 253 2000
Website:
www.pepsico.com
Financial year-end:
December
Ticker:
PEP
Stock exchange:
New York
M AR KE TL IN E
Pepsi is the world's second largest food and beverage company, which primarily operates in the snacks and beverages
manufacturing space. The company has presence in over 200 countries globally, and has key presence in North
America.
Pepsi's operations are organized into four business units: PepsiCo Americas Foods (PAF), PepsiCo Americas
Beverages (PAB), PepsiCo Europe and PepsiCo Asia, Middle East and Africa (AMEA). These four business units
comprise six reportable segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), Latin
America Foods (LAF), PAB, Europe, and AMEA.
PAF is the company's food and snack business in North and South America . Its portfolio of businesses includes FLNA,
QFNA, L AF, Sabritas and Gamesa.
FLNA is the convenient foods business unit of Pepsi. The division is primarily engaged in producing, marketing, selling
and distributing branded snack foods, including Lay's and Ruffles potato chips, Doritos tortilla chips, Tostitos tortilla chips
and dips, Cheetos cheese flavored snacks, Fritos corn chips, Rold Gold pretzels, Sunchips multigrain snacks, Cracker
Jack candy coated popcorn. In addition, FLNA operates a joint venture with Strauss Group, an Israeli food and beverage
company, which produces, markets sells and distributes Sabra-branded refrigerated dips and spreads. Either
independently or through contract manufacturers, FLNA's branded products are sold to independent dis tributors and
retailers. This business owns or leases approximately 40 food manufacturing and processing plants and approximately
1,720 warehouses, distribution centers and offices across North America. In addition, FLNA also utilizes approximately
40 plants and production processing facilities that are owned or leased by its contract manufacturers or co -packers.
QFNA is actively engaged in the production, marketing and selling of a portfolio of good -for-you products that include
cereals, rice, pasta and other branded products. Popular branded products sold by QFNA include Quaker oatmeal, Life
and Cap'n Crunch ready-to-eat cereals, Aunt Jemima mixes and syrups, and Rice-A-Roni, Pasta Roni and Near East
side dishes. These products are sold to independent distributors and retailers. QFNA has four plants and production
processing facilities in North America, apart from nearly 40 manufacturing plants, production processing facilities and
distribution centers that are owned or leased by its contract manufacturers or co-packers.
LAF is the company's food business based in the Latin America. This division has operations spread across Brazil,
Argentina, Colombia, Peru and Venezuela and is responsible for producing, marketing and selling various snack and
cereal products under popular brands like Doritos, Marias Gamesa, Cheetos, Ruffles, Emperador, Saladitas, Sabritas,
Lay's, as well as Quaker. Primary customers of this business division are independent distributors and retailers. LAF has
two snack manufacturing plants in Celaya and Guadalajara in Mexico. The business unit also owns or leases
approximately 60 food manufacturing and processing plants and approximately 665 warehouses, distribution centers and
offices across Latin America.

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Sabritas is PAF's snack and fun food business operating out of Me xico. Sabritas also serves as the umbrella brand
under which Pepsi markets various Frito-Lay products, such as Cheetos, Fritos, Doritos and Ruffles in Mexico. Aside
from producing its line of own-brand potato chips in Mexico, the business also manufactures and markets several local
brands such as Crujitos, Poffets, Rancheritos and Sabritones in Mexico.
Gamesa, another business division of PAF based in Mexico, is a global leader in the cookies market. Gamesa produces
a variety of products like pastries, oats, cereals and cookies. It has production facilities in five states across Mexico that
manufacture several of its brands including Marias Gamesa, Emperador, Arcoiris, Mamut, Chokis, and Maizoro.
PAB is Pepsi's beverage business division that is engaged in the marketing, selling and distribution of beverage -related
products like carbonated soft drinks, juices and juice drinks, ready-to-drink teas and coffee drinks, isotonic sports drinks,
bottled water and enhanced waters under various brands including Pepsi, Mountain Dew, Gatorade, 7UP (outside the
US), Tropicana Pure Premium, Electropura, Sierra Mist, Epura and Mirinda. The division's portfolio of ready-to-drink tea,
coffee and water products is produced through joint ventures with Unilever (under the Lipton brand name) and
Starbucks. In addition, PAB licenses the Aquafina water brand to its independent bottlers and markets this brand.
Furthermore, PAB manufactures and distributes certain brands like Dr Pepper and Crush under li cense from Dr Pepper
Snapple Group. PAB owns a manufacturing facility in Florida, where the Tropicana branded products are manufactured.
It also has concentrate manufacturing plants in Cork, Ireland and a research and development (R&D) facility in Valhalla ,
New York. Additionally, PAB also owns or leases approximately 85 bottling and production plants and production
processing facilities and about 445 warehouses, distribution centers and offices.
Prior to their merger in February 2010, PepsiAmericas (PAS) a nd Pepsi Bottling Group (PBG), the two North American
bottling units of Pepsi, operated as the company's independent bottling subsidiaries. Since the merger, PAS and PBG
are operating as a unit of Pepsi Beverages Company (PBC). PBC operates in the US, Cana da and Mexico and
encompasses approximately three-fourths of Pepsi's North American beverage volume. Aside from producing, marketing
and selling Pepsi's global beverage brands, PBC also manufactures and distributes third -party brands in key local
markets such as Dr Pepper, Crush, Rock Star and Muscle Milk.
PepsiCo Europe, the company's European business division, has operations across 45 countries in Europe and is
engaged in producing, marketing and selling a range of popular snack food brands including Lay's, Walkers, Doritos,
Cheetos and Ruffles, as well as many Quaker-brand cereals and snacks. PepsiCo Europe operates both through
consolidated businesses as well as through non-controlled affiliates. Apart from snack foods, this business division is
also engaged in manufacturing, marketing and selling of beverage concentrates, fountain syrups and other beverage
products under popular beverage brands including Pepsi, 7UP and Tropicana. In addition, PepsiCo Europe licenses the
company's Aquafina water brand to certain of its authorized bottlers. Furthermore, the division, both independently or
through contract manufacturers, produces, markets and sells ready-to-drink tea products through an international joint
venture with Unilever under the Lipton brand name. In February 2011, the company acquired Wimm -Bill-Dann Foods
(WBD), a Russia-based branded food and beverage company. Through this acquisition, Pepsi gained access to WBD's
portfolio of leading dairy and juice brands including, Domik v Dorevne, Chudo, Imunele, J7, Lubimy Sad, 100% Gold
Premium and Agusha. In FY2011, the business division operated a snack manufacturing and processing plant and a
snack R&D facility, all located in Leicester, UK. Additionally, PepsiCo Europe has a beverage plant in Lebedyan, Russia
and a dairy plant in Moscow, Russia. Europe also owns or leases approximately 120 plants and approximately 670
warehouses, distribution centers and offices.

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Page | 30
PepsiCo AMEA is the company's division operating in the Asia, Middle East and Africa regions, which markets and sells
a variety of snack food brands including Lay's, Kurkure, Chipsy, Doritos, Smith's, Cheetos, Red Rock Deli and Ruffles,
through consolidated businesses as well as through non-controlled affiliates. Further, either independently or through
contract manufacturers, PepsiCo AMEA produces, markets and sells several Quaker -brand cereals and snacks.
Furthermore, the division also produces, markets and sells beverage products like concentrates and fountain syrups
under popular brands including Pepsi, Mirinda, 7UP and Mountain Dew. As in Europe, PepsiCo AMEA licenses the
Aquafina water brand to certain of its authorized bottlers in the AMEA region. The division also operates an international
joint venture with Unilever to produce, market and sell its ready-to-drink tea products under the Lipton brand name.
PepsiCo AMEA has beverage manufacturing plants located across China, Egypt and Jordan, and has snack
manufacturing and processing plants located in Egypt and Australia. The division also owns or leases approximately 80
plants and approximately 1,265 warehouses, distribution centers and offices across the AMEA region.
Key Metrics
The company recorded revenues of $65,492m in the fiscal year ending December 2012, a decrease of 1.5% compared
to fiscal 2011. Its net income was $6,214m in fiscal 2012, compared to a net income of $6,462m in the preceding year.
Table 17: PepsiCo, Inc.: key financials ($)

$ million
Revenues
Net income (loss)
2008
2009
2010
2011
2012
43,251.0
43,232.0
57,838.0
66,504.0
65,492.0
5,142.0
5,946.0
6,320.0
6,462.0
6,214.0
Total assets
35,994.0
39,848.0
68,153.0
72,882.0
74,638.0
Total liabilities
23,888.0
22,406.0
46,677.0
51,983.0
52,239.0
198,000
203,000
294,000
297,000
278,000
Employees
M AR KE TL IN E
Table 18: PepsiCo, Inc.: key financial ratios

Ratio
Profit margin
2008
2009
2010
2011
2012
11.9%
13.8%
10.9%
9.7%
9.5%
Revenue growth
9.6%
0.0%
33.8%
15.0%
(1.5%)
Asset growth
3.9%
10.7%
71.0%
6.9%
2.4%
Liabilities growth
37.3%
(6.2%)
108.3%
11.4%
0.5%
Debt/asset ratio
66.4%
56.2%
68.5%
71.3%
70.0%
Return on assets
14.6%
15.7%
11.7%
9.2%
8.4%
$218,439
$212,966
$196,728
$223,919
$235,583
$25,970
$29,291
$21,497
$21,758
$22,353

Profit per employee

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Figure 19: Pepsi Co, Inc.: revenues & profitability
M AR KE TL IN E
Figure 20: Pepsi Co, Inc.: assets & liabilities

M AR KE TL IN E
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Suntory Group
Table 19: Suntory Group: key facts
Head office:
2-1-40 Dojimahama, Kita-ku, Osaka City, Osaka, JPN
Telephone:
81 6 6346 1131
Fax:
Website:
81 6 6345 1169
Orangina Schweppes Group, 133, Rue Victor Hugo 92300 Levallois Perret, FRA
www.suntory.com
Financial year-end:
December
Local office:
M AR KE TL IN E
Suntory Group (Suntory or 'the group') manufactures and markets a wid e range of beverage products, health foods and
also operates in various businesses such as restaurants, flower business, resort development, and information services.
The group's consolidated operations are managed primarily through Suntory Holdings. The g roup has its presence in
Asia Pacific, Americas and Europe.
Suntory operates through three business segments: food, liquor and others.
The food segment produces health foods, beverages and also Haagen -Dazs brand ice cream. The group also produces
and markets beverages like tea, coffee and health drinks. Suntory produces health beverages like healthy green tea and
Mi zumizushia, a bottled water developed to help maintain proper blood -sugar level. Its brands include Suntory Oolong
Tea; Flavan Tea; Boss, a canned coffee; Dakara, a health drink; and Suntory Natural water, packaged water. Haagen Dazs Japan, a joint venture of Suntory with Grand Metropolitan of the US, produces and distributes Haagen -Dazs
premium ice cream and operates Haagen-Dazs shops in Japan.
The liquor segment is involved in the production of alcoholic beverages such as beer, cocktails, whisky, liqueurs, spirits,
wine, and traditional distilled spirits. The group operates the global wine business in co -operation with foreign wineries
such as Chateau Lagrange winery, Chateau Beychevelle in France, Weingut Robert Weil in Germany, and Tokaj
Hetszolo in Hungary. Also, the group's brand Midori, is an established global brand and operates in the Americas,
Australasia, Europe and Asia.
The other business segment of Suntory is primarily engaged in the restaurants, sports, and flowers and services
businesses.
The group's subsidiaries under restaurants business include Dynac, Pronto, First-Kitchen, Subway Japan, Izutsu Maisen,
Myu Planning & Operators, Grupo Restaurante Suntory Me xico and Suntory Food & Beverage International Group (SFBI
Group).
Dynac, a subsidiary, operates approximately 250 restaurants, bars and pubs. Pronto, a subsidiary of Suntory manages
200 outlets under the franchise system that mainly operates cafes and bars. In the fast-food segment, the group
operates First-Kitchen restaurants and the Japanese franchise operations of Subway. In the planning field, the group
operates a subsidiary, Myu Planning & Operators, which is a food service co nsulting company. Grupo Restaurante
Suntory Me xico operates eight Japanese restaurants, including 'Restaurant Suntory', 'Shu' and 'sunka', in three cities
besides Mexico City.
The sports, and flowers and services business unit is managed by subsidiaries in cluding, Tipness, Suntory Flowers,
Suntory MIDORIE, Suntory Shopping Club, Suntory Publicity Service, and SUN -AD.

0201 - 0028 - 2012

Page | 33
Tipness manages the fitness club network of Suntory in Japan. Suntory Flowers is engaged in the business of flower
sales. Suntory MIDORIE manufactures and markets greening systems. Suntory Shopping Club provides mail -order
services employing an Internet catalog to distribute promotional equipment for liquor stores, restaurants and bars and
conducts a comprehensive support business for corporate campaign planning and campaign office operations. Suntory
Publicity Service provides reception services for Suntory Hall and other concert halls and art museums. SUN -AD is an
advertising production company.
In November 2009, Suntory acquired 100% ownership of Orangina Schweppes group, a European soft drink provider.
The companys brands include Orangina, Schweppes, Oasis and Trina.
Key Metrics
The company recorded revenues of $23,202m in the fiscal year ending December 2012, an increase of 2.7% compared
to fiscal 2011. Its net income was $459m in fiscal 2012, compared to a net income of $785m in the preceding year.
Table 20: Suntory Group: key financials ($)

$ million
Revenues
Net income (loss)
Total assets
Total liabilities
2008
2009
2010
2011
2012
18,959.1
19,432.2
21,833.9
22,591.0
23,202.2
401.8
409.3
501.6
784.6
459.0
14,362.6
20,404.1
19,652.5
21,681.0
21,653.3
9,076.6
14,694.5
14,051.3
15,621.5
14,965.5
M AR KE TL IN E
Table 21: Suntory Group: key financials ()

million
Revenues
Net income (loss)
Total assets
Total liabilities
2008
2009
2010
2011
2012
1,512,961.0
1,550,720.0
1,742,373.0
1,802,792.0
1,851,567.0
32,068.0
32,666.0
40,028.0
62,615.0
36,632.0
1,146,153.0
1,628,280.0
1,568,296.0
1,730,176.0
1,727,963.0
724,322.0
1,172,641.0
1,121,317.0
1,246,618.0
1,194,265.0

M AR KE TL IN E
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Page | 34
Table 22: Suntory Group: key financial ratios

Ratio
2008
2009
2010
2011
2012
Profit margin
2.1%
2.1%
2.3%
3.5%
2.0%
Revenue growth
1.2%
2.5%
12.4%
3.5%
2.7%
Asset growth
(5.4%)
42.1%
(3.7%)
10.3%
(0.1%)
Liabilities growth
(7.0%)
61.9%
(4.4%)
11.2%
(4.2%)
Debt/asset ratio
63.2%
72.0%
71.5%
72.1%
69.1%
Return on assets
2.7%
2.4%
2.5%
3.8%
2.1%
M AR KE TL IN E
Figure 21: Suntory Group: revenues & profitability

M AR KE TL IN E
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Page | 35
Figure 22: Suntory Group: a ssets & liabilities

M AR KE TL IN E
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APPENDIX
Methodology
MarketLine Industry Profiles draw on extensive primary and secondary research, all aggregated, analyzed, cross checked and presented in a consistent and accessible style.
Review of in-house databases Created using 250,000+ industry interviews and consumer surveys and supported by
analysis from industry experts using highly complex modeling & forecasting tools, MarketLines in -house databases
provide the foundation for all related industry profiles
Preparatory research We also maintain extensive in-house databases of news, analyst commentary, company
profiles and macroeconomic & demographic information, which enable our researchers to build an accurate market
overview
Definitions Market definitions are standardized to allow comparison from country to country. The parameters of each
definition are carefully reviewed at the start of the research process to ensure they match the requirements of both the
market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest industry events and
trends
MarketLine aggregates and analyzes a number of secondary information sources, including:
-
National/Governmental statistics
International data (official international sources)
National and International trade associations
Broker and analyst reports
Company Annual Reports
Business information libraries and databases
Modeling & forecasting tools MarketLine has developed powerful tools that allow quantitative and qualitative data to
be combined with related macroeconomic and demographic drivers to create market models and forecasts, which can
then be refined according to specific competitive, regulatory and demand -related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and up -to-date

0201 - 0028 - 2012

Page | 37
Industry associations
UNESDA
Bd Saint-Michel 77-79 B-1040 Brussels, BEL
Tel.: 32 2 743 4050
Fax: 32 2 732 5102
www.unesda.org
British Soft Drinks Association

20-22 Stukeley Street, London WC2B 5LR, GBR
Tel.: 44 20 7430 0356
Fax: 44 20 7831 6014
www.britishsoftdrinks.com
Vereniging Nederlandse Frisdranken Industrie

P.B. 26155 (Heemraadsingel 167) NL-3002 ED, Rotterdam, NED
Tel.: 31 10 477 4033
Fax: 31 10 425 9025
www.frisdrank.nl
Federation des Industries des Eaux et des Boissons Rafraichissantes

Avenue General de Gaulle 51/b5 B-1050 Brussels, BEL
Tel.: 32 2 649 1286
Fax: 32 2 646 1339
www.fieb-viwf.be
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Carbonated Soft Drinks in the United Kingdom
Carbonated Soft Drinks in Germany
Carbonated Soft Drinks in France

0201 - 0028 - 2012

Page | 38
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Market value forecast

Market volume forecast

Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Britvic plc ......................................................................................................................................................................................22

Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Table 1: Europe carbonated soft drinks market value: $ million, 200812

Figure 1: Europe carbonated soft drinks market value: $ million, 2008 12

Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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The Coca-Cola Company

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Market volume forecast

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

FIVE FORCES ANALYSIS

Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

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Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Breakspear Park, Breakspear Way, Hertfordshire HP2 4TZ, GBR

44 1442 284 411

44 1442 284 402

SOURCE: COMPANY WEBSITE

Europe - Carbonated Soft Drinks

0201 - 0028 - 2012

Table 10: Britvic plc: key financials ($)

Table 11: Britvic plc: key financials ()

Net income (loss)

SOURCE: COMPANY FILINGS

Table 12: Britvic plc: key financial ratios