Coca-Cola Amatil’s Interim Result Slightly Below Expectations. FVE Unchanged.
Narrow moat-rated Coca Cola Amatil’s interim 2016 result was slightly weaker than our expectations due to the performance of the core Australian Beverages business (67% of EBIT). Group EBIT was up 3.2% to AUD 327 million due to the better performance of other divisions. The interim dividend was raised 5.0% to AUD 21 cents per share, 75% franked. Our EPS forecasts have been lowered by around 1%. Our fair value estimate of AUD 9.00 is intact and at current prices, Coca Cola Amatil shares are fairl...Coca-Cola Amatil manufactures, distributes and sells ready-to-drink beverages. Co.'s product range includes non-alcohol sparkling, beverages, spring water, sports and energy drinks, fruit juices, iced tea, flavoured milk, coffee, tea, beer, cider, spirits and packaged ready-to-eat fruit and vegetable snacks and products. Co.'s segments include: Non-Alcohol Beverages, which manufactures, distributes and markets sparkling drinks and other non-alcohol beverages; Alcohol & Coffee Beverages, which manufactures and distributes premium spirits, beer and coffee products; and Corporate, Food & Services, which is involved in the processing and marketing of fruit and other food products business.
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