The Coca-Cola Company

News Release

THE COCA-COLA COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2006 RESULTS

  • Worldwide unit case volume up 4 percent for the fourth quarter and the year, at the top end of the Company's long-term growth targets.

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  • Balanced growth in the year with sparkling beverage unit case volume up 4 percent, the highest growth since 1998, and still beverage unit case volume up 7 percent.

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  • International unit case volume up 6 percent for the quarter and the year, led by 5 percent growth in Trademark Coca-Cola.

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  • Full year EPS of $2.16 up 6 percent; and $2.37 up 9 percent after considering items impacting comparability.
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Atlanta, February 14, 2007 - The Coca-Cola Company today reported full year earnings per share of $2.16, which included a net charge of $0.21 per share. Full year earnings per share increased 6 percent on a reported basis and 9 percent after considering items impacting comparability. The net charge for the year was primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc. ("CCE"), an equity investee. Full year 2005 earnings per share were $2.04, which included a net charge of $0.13 per share.

Earnings per share for the fourth quarter were $0.29, which included a net charge of $0.23 per share. Fourth quarter earnings per share decreased 19 percent on a reported basis and increased 13 percent after considering items impacting comparability. The net charge for the quarter was primarily related to the non-cash impairment charge at CCE. Fourth quarter 2005 earnings per share were $0.36, which included a net charge of $0.10 per share. (A reconciliation is provided on pages 21 and 22 of this release.)

Chairman and CEO Neville Isdell said, "I am pleased with our strong performance in the quarter as well as for the year. Our results, once again, demonstrate our ability to deliver balanced growth across our product portfolio and our global markets. In 2006, we further strengthened our business, enabling us to absorb fluctuations in individual markets and beverage categories, as we continue to grow overall. We now have in place a firm foundation for delivering long-term sustainable growth.

"We continue to demonstrate that we can be successful growing sparkling beverages, while expanding our beverage portfolio. With an improving set of capabilities, we delivered results at the top end of our long-term volume and profit growth targets. We achieved strong results in key emerging markets including China, Russia and across Latin America, along with improved performance in Japan and Western Europe during the year.

"As for 2007, I am confident that our strategies are working. We will continue to build our innovation pipeline - Enviga and Coca-Cola Zero were just the start - and focus on important markets like North America. We will lead the Coca-Cola system with strengthened capabilities in consumer marketing, customer and commercial leadership and franchise leadership. Our actions set us apart as the only truly global beverage company as we work to create long-term sustainable growth and value for shareowners."

(Sparkling beverages refers to all ready-to-drink nonalcoholic beverages with carbonation. Still beverages refers to all ready-to-drink nonalcoholic beverages without carbonation.)

(All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period.)


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