Coca Cola calculated the damage due to the cessation of sales in Russia

Coca Cola Hellenic Bottling Company (Coca Cola HBC) presented the company's financial report for the first half of 2022, according to which the damage from the cessation of sales of products in the Russian Federation amounted to 190 million euros ($195.36 million). 

In the second half of the year, the company also expects new damage in the approximate amount of 82 million euros. This is due to the fact that the remaining stocks of goods in Russia are almost exhausted, and further production and sale of Coca-Cola drinks in the country is not planned.

Net profit of the company as a whole decreased by 34% and amounted to 153 million euros for the first half of the year. The reason was both the withdrawal from Russia (which is one of the largest markets for Coca Cola products) and the ongoing inflation. 

Recall that in the spring of this year, the American Coca-Cola Co announced that it was suspending its activities in Russia due to the start of a special operation in Ukraine. The import of beverages using parallel imports is also not considered.