Coca Cola İçecek (CCI) Financial Results 2Q24

Coca Cola İçecek announced a net profit of 5.4 billion TL in its second-quarter results, exceeding expectations, with net profit increasing by 20% year-on-year. The company revised its 2024 outlook downwards, particularly due to the decrease in purchasing power in its Middle Eastern operations. Additionally, the company lowered its 2024 net sales revenue growth forecast to the low 30% range and updated its EBITDA margin expectations to reflect a slight decline or stability.