Coca-Cola HBC AG

CCH: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Coca-Cola HBC’s Emerging-Market Expansion Should Propel Future Growth; Raising Valuation

Verushka Shetty

Aug 5, 2026

Business Strategy and Outlook

Coca-Cola HBC, the third-largest bottler by volume in the Coca-Cola system, is one of the more diversified bottlers by geographic footprint and product portfolio. Through its legacy assets and acquisitions, CCHBC has operations across Eastern Europe, smaller regions in Western Europe, and Africa. Developing and emerging markets combined accounted for 69% of revenue in 2025.

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Coca-Cola HBC AG

Coca-Cola HBC’s Emerging-Market Expansion Should Propel Future Growth; Raising Valuation

Business Strategy and Outlook

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