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Packaged goods business Coca-Cola HBC reported a rise in third quarter revenue as volume and margin expansion bolstered growth.
For Q3, FX-neutral revenue growth was 17.1% year-on-year, and up 16.8% on Q3 2019 on a like-for-like basis.
Volume growth was 13.1%, boosted by the recovery in its out-of-home business amid the reopening.
The out-of-home channel grew volumes by 20% in Q3, and were 10% above 2019 levels in Q3, benefiting from reopening and the partial recovery of tourism in several markets.
The at-home channel continues to show good momentum, growing 10% in Q3, At-home volumes were 17% above 2019 levels.
Price and mix was up 3.5% in Q3 on a tougher comparator, with all three segments seeing price and mix expansion gain pace versus 2019.
Looking ahead, the company reiterated its guidance for 2021 of a 'strong recovery in FX-neutral revenues and a 20-30bps EBIT margin expansion.'