Coca-Cola producer in Russia earns more than before beginning of war in Ukraine
Archive photo: Coca-Cola producer in Russia earns more than before beginning of war in Ukraine (coca cola unsplash com)
Russian division of Coca-Cola beverage manufacturer quadrupled its profit over the past year. The company now earns more than before the start of the war in Ukraine, according to The Insider.
In March 2022, practically immediately after the start of Russia's full-scale invasion of Ukraine, Coca-Cola announced that it was suspending its operations in the country.
The source reports that despite Coca-Cola's CEO James Quincey suggesting that Coca-Cola would completely exit Russia, this did not happen. Production of Coca-Cola brands in Russia was halted, and instead, Dobryi Cola appeared.
The enterprise itself, formerly Coca-Cola HBC (LLC Coca-Cola Hellenic Bottling Company Eurasia), changed its name to Multon Partners but remained owned by the Dutch Coca-Cola Hellenic Holdings B.V., which is part of the global Coca-Cola Hellenic group.
What amounts are mentioned
The profit of LLC Multon Partners in 2023 amounted to 10.25 billion rubles (or $110.715067 million).
This is 4 times more than in 2022, when the company earned $24.843381 million.
The source states that the growth is also significant—one and a half times the pre-war profit.
What preceded
Earlier it was reported that Russia decided to replace Coca-Cola, which left the Russian Federation due to the war in Ukraine. A domestic analogue of the famous carbonated water will be produced in Yamal.
Later, the media reported that Russia continues to purchase Coca-Cola beverages from European Union countries through dozens of other companies.
