Profits at Irish arm of Coca-Cola rise to €2.1bn despite drop in turnover

Increase in value of Monster Beverage Corporation helps to lift profits

Barry J Whyte

Chief Feature Writer @whytebarry
6th December, 2021
Profits at Irish arm of Coca-Cola rise to €2.1bn despite drop in turnover
European Refreshments makes and sells Coca-Cola concentrate to bottlers worldwide, as well as acting as a ‘holding company for the purchase of investments and intangible assets’. Picture: Daniel Acker/Bloomberg News

Profits at the Irish arm of Coca-Cola rose from €1.7 billion to €2.1 billion despite turnover dropping from €4.9 billion to €4.2 billion in 2020.

The company blamed the decrease in revenue on “Covid-19 impacting the away from home market as a result of lockdowns”.

The increase in profit by €400 million was attributable to a a rise in the value of certain assets of around €300 million compared to 2019, the directors state...

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